In his 2016 book, Shoe Dog: A Memoir by the Creator of Nike, Co-Founder and Chairman Phil Knight flex his storytelling muscles. Does it create momentum? Failure is an opportunity to learn and do better next time. When working with people, the most successful ways seem to lie at the extreme ends of the spectrum: Tell them how to do everything, or dont tell them anything, except the result you want. Even when he gets in a car crash and breaks his skull, he continues to sell shoes. Knight faced challenges acquiring funding, landing orders on time, and difficulties with manufacturers throughout the early days and pushed through to find the accomplishment that Nike has today. Pure white with the signature Nike swoosh in bold red, the Cortez was an instant hit. Knights journey began with what he calls his Crazy Idea, or his way of making a mark on the world. Superstar athletes are grateful to Nike and to Phil too. A modern alternative to SparkNotes and CliffsNotes, SuperSummary offers high-quality study guides that feature detailed chapter summaries and analysis of major themes, characters, quotes, and essay topics. Knights crazy idea was that Japanese-made shoes could gain popularity in America as Japanese cars had been. But they also have something else in common: a simple acronym. He felt that failure would gain him wisdom, and wisdom is an intangible asset. He went to track meet ups across the country and grossed $8,000 in 1963. He points out that Nike is the gold standard for foreign labor compared to many other international companies. During roll call, he learns her name Penelope Parks. In this book, he provides a wealth of useful information. In 1962, fresh out of business school, Phil Knight borrowed $50 from his father and created a company with a simple mission: import high-quality, low-cost athletic shoes from Japan. When you break that project down into small goals and success markers, it becomes a lot easier to manage, and the little amount you complete each day, adds up until the job is done. Phil strongly requests two employees, Woodell and Johnson, to trade roles and locations, transferring between Boston and Oregon. Kitami visits in March, and Phil wants to wow him, make him fall in love with Oregon and Blue Ribbon. His customers love him, depending on Johnson to solve their problems in both running and life. Nike co-founder Phil Knight urges young people and entrepreneurs to follow a calling, even if their idea seems crazy. And their creditors checks bounce. When looking for a good business partner, Tony Robbins recommends looking for someone who is [solution-oriented, has a good reputation, shares your values, and has clear communication Unlock the full book summary of Shoe Dog by signing up for Shortform . They initiate settlement talks, starting at $20 million, then $15 million. Places You can help Wikipedia by expanding it. Its very rare for a person like Phil Knight to elude the public spotlight for so long. And one day, that one check from a retailer is late. As the class required writing a business plan to pass, Phil wrote a paper called Can Japanese Sports Shoes Do to German Sports Shoes What Japanese Cameras Did to German Cameras?. This is the year they announce Nike at the National Sporting Goods Association Show in Chicago. To Phils surprise, Bill didnt stop at that. And, to be honest, it was pretty big, hairy, and audacious for who Phil was at the time! #10 Travel the World When Youre Young Phil Knight believes that he benefited greatly both in terms of his general world wisdom and knowledge by traveling the world in his early 20s. Want to learn the rest of Shoe Dog in 21 minutes? Although he didnt have a concrete idea of what he wanted to do with his life or how he would execute this Crazy Idea, he decided to follow it and see where it took him. Despite not yet having a company, he told them Blue Ribbon, inspired by his childhood wall, decorated with blue ribbons from track. It was published in 2016. Please take a moment to pin this post to Pinterest. It eliminates your brains room for second-guessing and insecurity. Shoe Dog [2] is a memoir by Nike co-founder Phil Knight. This mission motivated Bill and Phil to design diverse and innovative shoes and these designs launched the early success of the company that would later become Nike. His passion for footwear began when he was an undergraduate student at the University of Oregon. This article about a biographical or autobiographical book published in the United States is a stub. Knight showed Onitsukas shoes to runners, coaches, and fans, who enthusiastically bought the shoes. Seek a Calling, Not a Career: The key to remaining motivated despite setbacks. Knight demonstrates very well in Shoe Dog that storytelling is a powerful tool. It is easy to feel unproductive when you view a task as a huge project. Phil knew that and so he developed a more creative hiring process that was sure to connect him with the right people. With some funding from his father, he is able to fly to Japan and travel the world in the process. Essential in a travel companion.. Today, Nike's annual sales top $30 billion. Go here to download the Shoe Dog PDF Summary. With Blue Ribbon growing and getting press, they could use help with their marketing print ads, charts, and maybe a logo. The book is divided into 20 chapters, each corresponding to a year in Knight's life. They come in interested in company history and have an informal discussion group called the Spirit of 72. In Shoe Dog, Knight goes into great detail about how his world travels expanded his knowledge and viewpoints. And sell he does now Blue Ribbon has an official runner mecca in Los Angeles. In the next chapter, well learn more about the other factors that contributed to the success of Phils company. Knight valued publicity and focused on signing popular athletes to become brand representatives for Nike. 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The author talks about his life and the early days of Nike, respectively Blue Ribbon Sports, as the company was called at the beginning. #13 Act successful until you become successful. But that wasnt his only strategy for boosting morale. Shoe Dog primarily recounts the events from 1962, the year Knight traveled around the world as a young man, to 1980, the year Nike went public and Knight became a multimillionaire. Say goodbye., Dont tell people how to do things, tell them what to do and let them surprise you with their results., When you see only problems, youre not seeing clearly., Put it this way. While Kitamis in the bathroom, Phil steals a folder from Kitamis briefcase. In fact, I dont recall knowing who founded Nike until earlier this year, when debating the topic with my family and googling it. Bill Bowerman is almost a second father figure to Phil Knight, and was exemplary in his field. Whats your major takeaway from how Phil Knight built Nike? Johnson hit his target and Buck allowed him to open a Blue Ribbon . She agrees. Because he frequently received questions about the title of his book, the author quickly developed a comprehensive definition of the term. His first successful athlete signing was with Steve Prefontaine, one of the most popular runners of the time, and who boosted Nikes shoes into the public consciousness. 28 October 2016 In the book, Shoe Dog, Phil Knight informs the reader about his experience with creating Blue Ribbon, and ultimately what later became Nike. First, running wasnt really considered a sport or a hobby. He offers an honest perspective about the imperfect process of building a successful company. Figuring he was already there, young, and had nothing to lose, he made a cold call to the CEO, Mr. Onitsuka, who agreed to meet with him and gave him the distribution rights for the western United States to sell Onitsuka Tiger shoes. His fathers friend, CEO of a publicly-traded company, advises him to get a CPA. Dont tell people how to do things. Phil Knight opens up in ways few CEOs are willing to do." He pursued his idea, and eventually found great success. He now has to travel to Japan, find a shoe company, and pitch them his Crazy Idea. Shoe Dog by Phil Knight is a memoir of his time building Nike. Over the years Blue Ribbon grew into a thriving company. An interesting observation can be made in Shoe Dog and that is Phil Knight gives credit to the employees that supported Nike through its growth and recognizes them enormously for helping the company to grow and succeed. So, when he finished his presentation and the CEO of Onitsuka said it sounded like a great idea, Phil was blown away! In a memo to his company, Phil announces that hes hired a spy. He stresses that this is completely accepted in Japanese business culture. #13 Understand Your Audience Regardless of what product you are selling or your marketing campaign, you need to understand your audience to be successful. He wanted something fresh, bold, and energetic. #12 A massive project is just many small projects. And over the course of this summary, well learn more about Phil Knight, his vision, and how he found the courage to just do it. Instead of lying about qualifications or product updates to investors or business partners, try being forthright about the issue and offering a detailed plan to show that youve already thought ahead about the problem.). He knows there is huge demand for Nike shoes, and he cant sell them quickly enough. Hiring great people and letting them do their thing is one of the core parts that made Nike, well, Nike. He wanted to be Onitsukas distributor in America, and he believed it would be a profitable venturehe told Onitsuka that they could surpass Adidas, the dominant shoe brand at the time. This record of the early years (1962-1980) of the shoe empire takes us on a journey of the ups and downs of one of the most. Finally, well explore Knights reflections on Nike and advice for young entrepreneurs, such as learning as you go and trusting your team. A look at the Shoe Dog behind-the-scenes crew and production team. But that wasnt the only thing that made Blue Ribbon successful. With this popularity, Nike needs to find new manufacturers who can handle scale, and they finally turn to Taiwan. Plus, receive recommendations and exclusive offers on all of your favorite books and authors from Simon & Schuster. Shoe Dog 's timeline is from 1962 to 1980 when Nike went public, alongside Apple that same year. He values the wisdom that he gained from his travel as a young man and is a proponent of young people (with the means to do so) traveling as much as they can before they settle into careers. The first year, Phil sold the shoes out of the trunk of his car, a green Plymouth Valiant. *If you have a body, you are an athlete. This statement features prominently on their website and aligns with Knights understanding of the need for a deeper purpose. With so much heat, US Customs decide they wanted to move on. Financially, Phil Knight constantly pushes the pedal to the metal. At the 1976 Olympic Trials, multiple qualifying runners are wearing Nike as they qualify to represent the US, and Nike is the talk of the athletic town. To make it work, they deplete the bank accounts of all their retail stores and factories. Iowas head coach calls, angry that Nike had incorrectly claimed a partnership that didn't existbut then asks to sign with Nike too. During the Buttfaces retreats, colleagues were encouraged to get as drunk as they wanted and yell at each other or call each other names in a funny and lighthearted way. Everywhere Pre goes, Nike goes. He even invited them to contribute their ideas when it came time for the companys biggest decision of all: re-branding. #12 Be a Storyteller Many of Nikes most famous ad campaigns and marketing victories have come from an emphasis on storytelling. Published in 2016, Shoe Dog is a guide to starting a business, following your crazy ideas, and overcoming obstacles. [1] As of February 15, 2023, Knight was ranked by Forbes as the 17th richest person in the world, with an estimated net worth of US$41.5 billion. When Phil was running for Bill, Bill would always use him as a guinea pig. This first prototype model was technically the first Nike shoe and sold at Sotheby's for almost $450,000. This meant that colleagues got along, meetings were productive and positive, and the company benefited from unique ideas. Through it all, Knight told himself to never stop. The result of his perseverance is Nike, a multibillion-dollar brand worn by many of the worlds best athletes and recognized across the globe. This crazy idea was the first step towards Nike shoes. . So he has a backup plan an inside man at Onitsuka who can keep tabs on Kitami. Business They think theyre doomed, but people crowd around, asking questions and actually buying shoes. "You are remembered, he said, prophetically, for the rules you break. Knight was inspired by the fact that his shoes would be Japanese-made. But as time progressed towards himsteppingdown as the companys chairman (which he did in June 2016), he knew a memoir was in order. Here are 3 lessons from Phil Knights life about how he built Nike, the most valuable sports brand in the world: Have a crazy idea for a business to start? It was published in 2016. Shoe Dog is divided into 20 chapters, each one roughly corresponding to one year in Knights life. They wanted new companies to get profitable quickly and to never let sales exceed their cash balance. He decides to travel to Japan, exploring the rest of the world on his way. Buster Brown had a sweetheart named Mary Jane, so the Brown Shoe Company also bought licensing rights for "Mary Jane" for their line of girls' strap shoes. "Shoe dogs were people who devoted themselves wholly to the making, selling, buying, or designing of shoes. In Shoe Dog, Knight goes into detail about not seeing the value, or benefit from investing in large ad campaigns. In fact, beyond that, Bowerman actually asks to be a partner in the fictitious company, Blue Ribbon. He details the many risks he encountered, the crushing setbacks, the ruthless competitors and hostile bankersas well as his many thrilling triumphs. They continue their track record of shoe innovation. ", 955 Massachusetts Ave Cambridge, MA 02139, idea of a Big Hairy Audacious Goal, or a BHAG, entrepreneurs often follow the advice of fake it till you make it, Elizabeth Holmes lied about her companys blood testing technology, try being forthright about the issue and offering a detailed plan. quote from Shoe Dog: A Memoir by the Creator of NIKE. They have Nikes showing up in Hollywood, with Farrah Fawcett wearing Seniorita Cortezes in Charlies Angels. But theres no denying that luck is the ultimate determining factor for business success. Eventually, they settle on a final number - $9 million. Your BHAG is supposed to be ambitious, as this will kick-start forward momentum. He quits and takes up a teaching position at Portland State University, paying $700 a month. Soon the image of Buster Brown and his dog were appearing inside each pair of . While he waits for shoes to arrive, he yearns to travel, and wonders whether his journey was the peak of his life. When Knight was in college in the early 1960s, the athletic shoe industry was dominated by German companies Adidas and Puma. But to his surprise, the elder Six months after he first left for Hawaii, Phil returns home to Oregon. Maybe theyre making secret arrangements with new distributors again. Nike founder Phil Knight's memoir about the early days of the company, Shoe Dog, is being made into a feature film after Netflix optioned the story detailing a group of ragtag, running-loving. A groundbreaking year for Phil Knight and Blue Ribbon. Phils quite sure his father will demur from funding his wanderlust. While in Japan, Knight met with executives at Onitsuka Tiger, a Japanese shoe company, which agreed to send Knight shoe samples to sell back in the United States. The 1-page summary and then the longer, complete version are so useful. "When you see only problems, you're not seeing clearly.". The first 300 pairs took over a year to be delivered, during which Phil worked as an accountant. And that was especially true when he thought it would be a great idea to import Japanese running shoes to the United States. It created a sense of community, allowed everyone to let off some steam, and served as a good reminder that no member of the company should be allowed to take themselves too seriously. Selling the shoes from the boot of his Plymouth, Knight grossed $8000 in his first year. He teaches Accounting 101, where a striking young woman with blond hair and blue eyes sits in the front row. Phil responds that its a backup in case Onitsuka cuts ties with Blue Ribbon. Shoe Dog Summary 1966-1967 1966 Blue Ribbon's first salesman, Johnson has a personality quirk - he sends Phil mountains of letters, detailing his every development, every sale and notable customer. Even though nobody was all that impressed with the paper, Phil became obsessed with the idea. Phil was a big fan of Japanese footwear and he was especially interested in a sneaker brand called Tiger that was made by Japanese company Onitsuka. Shoe Dog: A Memoir by the Creator of Nike is a 2016 memoir by Phil Knight, the co-founder of Nike. He managed these victories by acting as though he was successful and he eventually became so. When Onitsuka and Blue Ribbon became bitter rivals and parted ways, Knight was forced to begin producing his own shoes, which he ultimately called Nikes. You travel the next 18 years with Phil Knight, through continuous adversity, self-doubt, and never-ending financial uncertainty. Today, Nike is a household name in sportswear. The company was originally called Blue Ribbon Sports and it verged on bankruptcy for about 20 years before going public in 1980 and became solid enough financially that Knight did not have to worry about going under. In Shoe Dog, he tells his story at last. After completing undergraduate studies at the University of Oregon and business school at Stanford, Knight returned to his parents home in Portland, Oregon, in 1962, where he received a loan from his father to travel around the world. 4 - 5 months of age - Dogs start to lose their deciduous teeth around this age - this is the stage of teething that you are most likely to notice. His traveling ambitions have a spiritual air, longing to understand how the Chinese and Buddhists and Greeks and Christians have thought about life for millennia. But Phil wasnt content to simply create a good team and then stop; he was also committed to team-building exercises that would make his company stronger. They accepted Knights proposal and asked for the name of his company. People everywhere loved it! Thats because Phil Knight wasnt always a smooth, cool entrepreneur. A brilliant businessman named Phil Knight is the reason why that happened and Shoe Dog (2016) is his story. Like all lucrative business owners, Knight understands the importance of knowing who Nikes audience was. This Study Guide consists of approximately 39pages of chapter summaries, quotes, character analysis, themes, and more - So, he turned to his employees for advice and thats when one of them a man named Jeff Johnson came up with the perfect solution. Being forced to do this was un-American, it says. He had an arguably negative relationship with the company, in that he had contempt for Adidas and felt that they were very arrogant due to their market domination. In addition to the challenges related to building a company, Knight also reflects on the challenges and triumphs he faced as a son, as a young man searching for his identity, as a husband, and as a father. Every Nike athlete contacts them, but Tiger Woods is the first one, calling in at 7:30 AM. However, until now, much of the companys history, many early decisions and a lot of Phils personal life hadnt been well-covered publicly at all. In Shoe Dog, Phil Knight said, Life if growth. Shoe Dog is a memoir by Phil Knight, the creator of Nike. Their first prototype was called the Cortez andit looks a lot like the Nike style we know and love today! Shoe Dog Summary The first chapter of shoe dog begins by telling us Phil Knight is 24-year-old. 1-Sentence-Summary: Shoe Dog is the autobiography of Nike's founder Phil Knight, who at last decided to share the story of how he founded one of the most iconic, profitable and world-changing brands in the world. His way of making a mark on the world. Finally, Nike files a $25 million antitrust suit against its competitors and rubber companies, who had conspired to cripple them. Having this information, and fully understanding it gives you the tools you need to create products, marketing, and branding that resonate with those intended to experience it. Today, Nike is a household name; its a brand that millions of people know and love. Phil Knight opens up in ways few CEOs are willing to do.[5], In July 2018, Netflix announced a biopic adaptation, written by Ed Wood writers Scott Alexander and Larry Karaszewski and produced by Knight and 5-time Oscar nominee Frank Marshall.[6]. He is the co-founder and chairman emeritus of Nike, Inc., and was previously chairman and CEO of the company. Phil placates them by giving them a fixed conversion rate on stock for five years, and he thinks hell never want to go public and have to deal with thousands of shareholders. Next, they produce a TV ad telling the story of the little Oregon company fighting the big bad government. But what if youd rather take the honest route? And his father is his best shot. Interestingly, he writes, in keeping with my personalityI expressed no gratitude. Knights Crazy Idea got an unexpected boost when he sent samples of Onitsukas shoes to his college running coach, Bill Bowerman, who had always sought out high-quality running shoes for his team. For starters, both of these fields are founded on the belief that people can make change. Shes shy but is a star student, scoring at the top of her class, and she asks Phil to be her adviser. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, Shoe Dog 3 Minute Summary: 15 Lessons Learned + PDF, Never Eat Alone Speed Summary: 15 Core Principles in, Made to Stick 3 Minute Summary: 15 Lessons Learned + PDF, Deep Work Speed Summary: 15 Lessons Learned + PDF, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. A more creative hiring process that was especially true when he thought it would be Japanese-made to feel when. 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