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. His Crazy Idea was to partner with Japanese shoe companies and sell their shoes in America. Pure white with the signature Nike swoosh in bold red, the Cortez was an instant hit. Sales are $16 billion that year (to Adidass $10 billion). Jeff had been inspired by Greek mythology and so he approached Phil with a new name in mind: Nike. This article about a memoir is a stub. Phil understood that this change could make a difference for two significant reasons: for one thing, it was cheaper to produce running shoes in Japan than it was in Germany. He teaches Accounting 101, where a striking young woman with blond hair and blue eyes sits in the front row. 1 Let's Get Started 2 All About You 3 Sizing 4 Your Perfect Fit Your 3-minute personalized shoe fitting Actually, it sort of is rocket science! Cant think of any reason for anyone not to read this, especially if you like stories about Richard Branson, youll love this. He loved following them and he loved doing sports. Traditional advertising was not favored by Knight. 2018 - August: The film was set to Development status. Selling the shoes from the boot of his Plymouth, Knight grossed $8000 in his first year. 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. The United States Shoe Corporation Company History Timeline 1931 Critics scoffed when the newly minted United States Shoe Corporation (United States Shoe), incorporated in the fall of 1931, announced that henceforth it would produce for $6 retail the same Red Cross shoe that had been selling at $10. Hard work, dedication, and perseverance play a role in providing more opportunities for luck. #6 Knight and Foreign Labor Despite Nike being known for employing lots of overseas labor, with all of the moral quandaries that come with it, Knight himself claims that Nike improved the factory conditions of those workers. In early 1964, the shoe samples have finally arrived at Knights house in Oregon. He is the co-founder and current chairman emeritus of Nike, Inc., and previously served as chairman and CEO of the company. In his 2016 book, "Shoe Dog: A Memoir by the Creator of Nike", Co-Founder and Chairman Phil Knight flex his storytelling muscles. Make it institutional: If setting a BHAG for your company, build the goal into the ethos of your organization so future employees and leadership can maintain the momentum of the goal. Thanks for exploring this SuperSummary Study Guide of Shoe Dog by Phil Knight. Want to learn the rest of Shoe Dog in 21 minutes? In a memo to his company, Phil announces that hes hired a spy. He stresses that this is completely accepted in Japanese business culture. By offering his personal experience as a testament to the power of hard work and creativity, Knight aims to inspire other entrepreneurs, artists, and people trying to find their way in life. But Shoe Dog starts you over 50 years ago in 1962, when Phil Knight is 24 years old, has just earned an MBA from Stanford, and doesn't know what to do with his life. Bowerman wanted Knight to retain operational control of the company, so they worked out a dealtheyd split the company 51% to 49%Knight with the 51%. Nike stands as an emblem of success and athletic prowess; the cool kids were Nike and theyre proud to show it off! When they receive the shoes, the boxes look great, but the shoes inside are terrible they look cheap and shiny, and logos are crooked. Shoe Dog: A Memoir by the Creator of Nike is a 2016 memoir by Phil Knight, the co-founder of Nike. However, he recognizes many moments in Nikes early years where it was exceedingly difficult to keep the company going, and it would have been easy to quit. Maybe theyre making secret arrangements with new distributors again. 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. Converse (/ k n v r s /) is an American lifestyle brand that markets, distributes, and licenses footwear, apparel, and accessories.Founded in 1908 as the Converse Rubber Shoe Company, it has been acquired by several companies before becoming a subsidiary of Nike, Inc. in 2003.. Converse initially produced winterized rubber-soled shoes and boots. And you cant do that by simply hiring the first person who answers your help wanted ad. Even when he gets in a car crash and breaks his skull, he continues to sell shoes. Well also explore Knights advice and reflections on why Nike succeeded, such as creating a brand identity and surrounding himself with a great team. He wanted something fresh, bold, and energetic. Business He is the co-founder and chairman emeritus of Nike, Inc., and was previously chairman and CEO of the company. Everywhere Pre goes, Nike goes. Knight demonstrates very well in Shoe Dog that storytelling is a powerful tool. The book is divided into 20 chapters, each corresponding to a year in Knight's life. Phil describes his father as obsessed with respectability and grounding in traditional values, and wandering the earth seemed the antithesis of this. Their reputation precedes them. Lebron James gives Phil a Rolex from 1972, engraved with Thanks for taking a chance on me. Michael Jordan reserves a front-row seat for Phil at his fathers funeral. How will you apply this to your life? For example, Jesse Owens famously wore Adidas to the 1937 Olympics, Nike outfitted Steve Prefontaine for the 1972 Olympics, and his official endorsement in 1974 was overwhelmingly effective for the company. He recommends that everyone with the means to do so should also spend time in other countries absorbing knowledge and experience before settling down into their primary career. Ambitious entrepreneurs often follow the advice of fake it till you make it: Theranos founder Elizabeth Holmes lied about her companys blood testing technology, and Reddit created fake user accounts to populate its site. One of his professors described the character of an entrepreneur, and Phil instantly recognized himself. Instead, you will have better success shipping consistent products and getting those products to market rather than always delaying your stuff for perfection. But when he shared the idea with his friends, family, and mentors, no one was very receptive. Endorsements: In tennis, they dont get star Nastase (who asks for $100,000/year), which Phil thinks is irresponsible. If the answers to these questions trend toward the affirmative, you may have a potential BHAG. Kentons guide does an admirable job of helping us identify a BHAG and it also provides a solid map for developing one for yourself. When Phil finally got the shoes, one of the first people he mailed two pairs to was Bill Bowerman. Books In the meantime, he needs a job. By populating his company with people who were driven by creativity, Phil created a company culture that was committed to thinking outside the box. This hands-off management style would continue to add to Blue Ribbon and then Nikes success. After a few years, Phil reached a point where he felt that the name and vibe of Blue Ribbon had ceased to serve their company well. He also wrote an essay in which he theorized that America could improve their current model of production by ordering running shoes that were made in Japan, instead of Germany, which was the center of track shoe production at that time. In the next chapter, well learn more about the other factors that contributed to the success of Phils company. 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. 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This Shoe Dog summary reveals valuable lessons that Knight learned through his experiences during his captivating and interesting personal journey. Then, at Blue Ribbon, he insults the company by saying doubling isnt enough - sales should be tripling every year. At the time, Bowerman was the most famous track coach in America, training local champions and Olympic track stars, and Knight hoped he would like the shoes enough to order a few. Its hard to believe today, but in the 1960s, jogging to get exercise was something only maniacs would do. In fact, beyond that, Bowerman actually asks to be a partner in the fictitious company, Blue Ribbon. Published in 2016, Shoe Dog is a guide to starting a business, following your crazy ideas, and overcoming obstacles. It primarily covers the years 1962 to 1980, which includes Knight's travels around the world and his struggles as he built Nike into an international brand. Phil has a better idea she should join Blue Ribbon. He felt that failure would gain him wisdom, and wisdom is an intangible asset. Phil Knight chose the latter, something he learned from General Patton: Dont tell people how to do things. Industry Trends Beating yourself is a never-ending commitment.. He is 24. Explore our shoes timeline Find out more about our shoes collection. Shoe Dog was published in April of 2016. Shoe Dog - Part 1, 1964 - 1966 Summary & Analysis Phil Knight This Study Guide consists of approximately 39 pages of chapter summaries, quotes, character analysis, themes, and more - everything you need to sharpen your knowledge of Shoe Dog. Lifers used the phrase cheerfully to describe other lifers, men and women who had toiled so long and hard in the shoe trade, they thought and talked about nothing else. A brand cannot gain public support if the goal of the business is to grow fiscally. When Onitsuka agreed to provide 300 pairs of Tiger shoes for Blue Ribbon to distribute, an ecstatic Phil returned home to open a new company called Blue Ribbon Sports with his former coach Bill Bowerman as his business partner. But that wasnt his only strategy for boosting morale. 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? And when the CEO asked what company they would be partnering with, Phil had to think on his feet. 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. The only thing stopping his from . Phils quite sure his father will demur from funding his wanderlust. I could go on and on about Shoe Dog, I love a good autobiography, especially from people like Phil, who have built their empire on good. Over the years Blue Ribbon grew into a thriving company. If youre young and dont have much to lose, its best to go for broke. So, when he finished his presentation and the CEO of Onitsuka said it sounded like a great idea, Phil was blown away! We created a PDF file with the summary and quotes on this page for easy access: Download Shoe Dog PDF Summary. 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. This meant that colleagues got along, meetings were productive and positive, and the company benefited from unique ideas. [3] The memoir chronicles the history of Nike from its founding as Blue Ribbon Sports and its early challenges to its evolution into one of the world's most recognized and profitable companies. Kitami visits in March, and Phil wants to wow him, make him fall in love with Oregon and Blue Ribbon. Although shoe guinea pig is just a joke and not a thing that actually exists, shoe dog really is an industry term in the world of footwear! Get amentor and partner on board, who will believe in you and complement your skills. Personality Types Shoe Dog, Phil Knight's memoir about creating Nike, is a refreshingly honest reminder of what the path to business success really looks like. Hed written his thesis on this topic in college, and he was passionate about both shoes and running. #12 Be a Storyteller Many of Nikes most famous ad campaigns and marketing victories have come from an emphasis on storytelling. . When youre launching a new business, finding the right employees is critical. Knight was inspired by the fact that his shoes would be Japanese-made. Phil doesnt like it, but he agrees. These iconic athletes increased public awareness of Nike and the plan was a huge victory for the brand. Finally, well explore Knights reflections on Nike and advice for young entrepreneurs, such as learning as you go and trusting your team. This is not the same as general publicity, however. 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. Small businesses got their startup cash from banks, but banks had very different priorities from todays venture capital firms. Knight makes special mention of several employees in his book and credits them with a huge amount of the overall success of the company. But they also have something else in common: a simple acronym. Who would I recommend the Shoe Dog summary to? But through his passion and enthusiasm, he was able to set up . Shoe Dog is a first-person memoir written by Nike co-founder Phil Knight. This Shoe Dog summary reveals valuable lessons that Knight learned through his experiences during his captivating and interesting personal journey. Today, Nike is a household name; its a brand that millions of people know and love. Tell them what to do and let them surprise you with their results.. 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. So far from being passive on the side lines, just do it is active and invigorating. Knight are stunned by how nice they look, and sends two pairs to his old track coach, Bill Bowerman. Though the company receives criticism for using foreign labor, in Shoe Dog, Knight details the changes and efforts he made to improve conditions for workers in his factories and points out Nike as a gold standard for offshore manufacturing. And one day, that one check from a retailer is late. My impression of Shoe Dog is mixed. Having been a decent runner on the U of Oregon track team, he's obsessed with shoes. Its small with just 4 employees, they work 70-hour weeks. In 2006, Phil steps down as Nike CEO. It is no secret that Nike shoes are manufactured offshore. Seek a Calling, Not a Career: The key to remaining motivated despite setbacks. During roll call, he learns her name Penelope Parks. To be fair, everyone still smoked like a fiend, and heart disease hadnt been figured out yet. Please share these important lessons by pinning this post to Pinterest. The import duties use a comparable shoe as the pricing benchmark, giving rise to the $25 million price. Whether you like or wear Nike or not, everyone instantly associates their brand with that slogan. The acronym BHAG (commonly pronounced bee-hag) is universal to both entrepreneurs and self-help authors. He even built a shoe with fish skin instead of leather once! The litmus test of a true BHAG is how it answers the following questions: does it stimulate forward progress? You travel the next 18 years with Phil Knight, through continuous adversity, self-doubt, and never-ending financial uncertainty. Chapter-by-chapter summaries and multiple sections of expert analysis, The ultimate resource for assignments, engaging lessons, and lively book discussions. Unlock the full book summary of Shoe Dog by. Paperback - 26 April 2016. Kitamis trip ends with dinner at Bowermans house. #16 Understand the importance of storytelling. In response to Knights new shoes, the Tigers, Bowerman approves. He felt it was important that the work he spent his life on needed to feel meaningful, purposeful, and creative. This first prototype model was technically the first Nike shoe and sold at Sotheby's for almost $450,000. After later graduating college, Phil entered Stanford Graduate School of Business. Shes shy but is a star student, scoring at the top of her class, and she asks Phil to be her adviser. 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. The spy is Fujimoto, the man whose bicycle he replaced. Knight started his journey with the desire to import high-quality, low-cost shoes and Nike consistently focused on the quality of their shoes and were constantly innovating ways to improve them. He had never expected to get this far and he had certainly never counted on a partnership with Onitsuka, so he wasnt prepared for this question. Phil hoped to get a sale and a powerful testimonial. He shoots down Phils Japanese trading company idea, fearing that these companies make investments only to research companies, learn their trade secrets, and compete directly with them. But theyre still skating on such thin ice that Phil cant afford to draw a salary. Nike and Adidas have a well-established brand rivalry. The 1-page summary and then the longer, complete version are so useful. Instead, in 1962, he was as awkward, lost, and nervous as any other recent graduate wondering what to do with their future. #7 Make a Great Team Knight describes that a lot of his success came from the excellence of his team. This often means doing research and thinking about what you would want from the types of products you are making or selling. Bowermans designs influenced many of Nikes iconic styles, including its waffle trainers. [3] The memoir chronicles the history of Nike from its founding as Blue Ribbon Sports and its early challenges to its evolution into one of the world's most recognized and profitable companies. Phil takes accounting classes, earns his CPA, then joins an accounting firm. It also highlights certain parts of Phil Knight's life. Use this for your own products and advertising campaigns to great effect. Phil considers Bill part father figure, part army general. Products He doesnt see this as reckless the demand is there. When Knight was in college in the early 1960s, the athletic shoe industry was dominated by German companies Adidas and Puma. They sign dozens of college sports teams and legendary coaches. Shoe Dog is a memoir by Phil Knight, the creator of Nike. You can help Wikipedia by expanding it. Nike stands as an emblem of success and athletic prowess; the cool kids were Nike and they're proud to show it off! 3 pages at 400 words per page) Knight himself spent many days tearing apart and putting together shoes himself to figure out what worked. But have you ever wondered how Nike got its start? Does it get people going? People flock to see him, and Pre urges them to give Nike a try. Phils father even mentions how prominently Nikes are featured in a basketball game, and Phil feels that hes finally earning his fathers respect and pride (a longstanding chip on Phils shoulder). Their first prototype was called the Cortez andit looks a lot like the Nike style we know and love today! Phil feels its finally safe to pay himself a salary ($18,000 a year), and he quits Portland State to go full time at Blue Ribbon. And because his employees prided themselves on thinking outside the box, they were more open to innovative ideas and creative problem-solving. And Blue Ribbon Sports opened for the first time in Eugene, Oregon, on Jan. 25, 1964. Phil and Coach Bowerman were completely equal partners; their shares in the company were 50-50. This is the final year detailed in Shoe Dog, the year when Nike finally goes public through its IPO. At age 24, he thought his crazy idea while running one morning. A look at the Shoe Dog behind-the-scenes crew and production team. Accounting is not his thing. On the spot, he made up a company that didnt yet exist: Blue Ribbon Sports. Moreover, Phil used to sell shoes from the trunk of his car. #13 Act successful until you become successful. 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. They wanted new companies to get profitable quickly and to never let sales exceed their cash balance. Print Word PDF This section contains 1,130 words (approx. Knights focus was always on the quality and performance of his products, however, delivering his orders on time was more important to him. #4 Knight Focused on Athlete Sponsorship Instead of traditional advertising, Knight focused more on signing different athletes to become spokespeople and icons for the brand. He had to follow his passion his calling. Thats because Phil Knight wasnt always a smooth, cool entrepreneur. Bill would tear apart a shoe and piece it back together. But what if youd rather take the honest route? No momentous business events happen this year, though there are some rumblings of problems to come. In his effort to cultivate and maintain a fantastic company culture, Phil also made a point of including his employees in everything the company did. This also encouraged genuine collaboration and a free exchange of ideas and the entire company benefited from this positive and encouraging culture. Instead of trying to force employees to conform to some stuffy idea of professionalism, Phil gave his staff the freedom to be themselves. The first commercial Nike shoe was a variation of the 'Moon Shoe' with a more refined design. But theres no denying that luck is the ultimate determining factor for business success. This decision led to the birth of Blue Ribbon Sports, and his partnership with track and field coach, Bill Bowerman. He even invited them to contribute their ideas when it came time for the companys biggest decision of all: re-branding. Luckily, the Nike waffle trainers are more popular than ever. Bush paid Outcault $200 for licensing rights to use the Buster Brown name and image on children's shoes. So why limit factory orders to go in the black, when you know the demand is out there? His best lead is a final paper he wrote on shoes. This article about a biographical or autobiographical book published in the United States is a stub. In Built to Last, Collins and Porras argue that BHAGs typically take 10 to 30 years to achieve and have a 50 to 70 percent chance of success. Knight has said in the past that if he had failed, he would have just tried again with more wisdom. While Kitamis in the bathroom, Phil steals a folder from Kitamis briefcase. We also participate in other affiliate programs, such as Blinkist, MindValley, Audible, Audiobooks, Reading.FM, and others. He decides to travel to Japan, exploring the rest of the world on his way. He had an MBA from Stanford University and left a full-time career as an accountant to sell shoes out of the trunk of his car. This year is relatively crisis-free, and Phil Knight and his team spend their time thinking about the future. Because he loved running and is a runner, himself, he knew the importance of comfort in a superb quality running shoe. Brands must have a mission that the public can agree with and get behind. In the years that followed, Nike faced $1 million payments to creditors, dirty tricks played by competitors, the death of Prefontaine (a beloved Oregonian distance runner and Nike celebrity-employee), and many other challenges. In his guide, he summarizes a BHAG by affirming that: a BHAG is a long-term goal that everyone in a company can understand and rally behind. First, running wasnt really considered a sport or a hobby. Because he frequently received questions about the title of his book, the author quickly developed a comprehensive definition of the term. 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. Our referral links allow us to earn commissions (at no extra cost to you) and keep the site running. They continue their track record of shoe innovation. For their debut, Phil wants to package shoes in bright orange boxes to stand out. Philip Hampson Knight (born February 24, 1938) is an American billionaire businessman. The Onitsuka shoes arrive! Moehringer. With Blue Ribbon growing and getting press, they could use help with their marketing print ads, charts, and maybe a logo. Whats your major takeaway from how Phil Knight built Nike? Shoe Dog: Young Readers Edition By Phil Knight About the Book In this young readers edition of Shoe Dog, Phil Knight takes us on a remarkable journey of his experience "getting lost to find his way." Filled with stories, anecdotes, risks, and setbacks, we learn how a simple mission to import high-quality running shoes leads to one of the most 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]. The first 300 pairs took over a year to be delivered, during which Phil worked as an accountant. Knight looked to Adidas as inspiration, but also as their main competitor. But as Blue Ribbon began to grow into an entity of its own, Phil took on a new role: the company shoe dog. 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. Knights crazy idea was that Japanese-made shoes could gain popularity in America as Japanese cars had been. Finally, Nike files a $25 million antitrust suit against its competitors and rubber companies, who had conspired to cripple them. He is 24. If you want to buy the paperback version of the book, check out this page. He knew how demoralizing it felt to work at a company that made you feel as though you were nothing more than a cog in a machine, so he worked hard to avoid that. Bill Bowerman is almost a second father figure to Phil Knight, and was exemplary in his field. In this chapter, well get to learn more about the meaning behind this books title. They accepted Knights proposal and asked for the name of his company. It describes the history of the Nike sports company from its early roots to its success is one of the most profitable and recognizable companies in the world. Superstar athletes are grateful to Nike and to Phil too. And Johnson delivers results. ", 100 Best Side Hustles for Teens to Make Money, 10 Proven Psychological Pricing Strategies with Examples, 100 Office Etiquette Rules You Need to Know, Dont tell people how to do things, tell them what to do and let them surprise you with their results., The cowards never started and the weak died along the way. 5. Phil is crushed. He is unsure what he wants to do, but he had written a paper about Japanese shoes being the next big thing. *Four Minute Books participates in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising commissions by linking to Amazon. 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. He also claims that he wanted to pay laborers in foreign countries more money but local governments often got in the way. I". 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. *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. Check out Publisher Rocket, an easy-to-use tool for improving your books rankings on Amazon. 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. And it also provides a solid map for developing one for yourself this shoe dog timeline means doing and! May have a potential BHAG stories about Richard Branson, youll love this increased... Really considered a sport or a hobby, check out Publisher Rocket an. A hobby you ) and keep the site running idea was that Japanese-made could. Values, and others cant do that by simply hiring the first person who answers your help wanted ad on. Increased public awareness of Nike a partner in the past that if he had failed he... A partner in the bathroom, Phil was blown away brand, they more! 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Is almost a second father figure to Phil Knight, the Tigers Bowerman... Rubber companies, who will believe in you and complement your skills gets in a car crash breaks.
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