By focusing on the workmanship superiority of the product, instead of focusing on quick, sub-par output, they have launched ahead of their competition. 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. Knight has said in the past that if he had failed, he would have just tried again with more wisdom. Failure is an opportunity to learn and do better next time. He felt that failure would gain him wisdom, and wisdom is an intangible asset. Knight openly acknowledged that starting a business was risky, and he was willing to face that risk. 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. Originally called “Blue Ribbon Sports”, the company that would become Nike, was on the verge of bankruptcy for almost two decades. Looking at Nike as an athletic apparel and equipment giant now, it is hard to imagine that the success they have now, was not easy or instant. He pursued his idea, and eventually found great success. Knight’s “crazy idea” was that Japanese-made shoes could gain popularity in America as Japanese cars had been. When Knight was in college in the early 1960s, the athletic shoe industry was dominated by German companies Adidas and Puma. He felt it was important that the work he spent his life on needed to feel meaningful, purposeful, and creative. He had to follow his passion – his calling. 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. Shoe Dog Summary and 20 Lessons LearnedĪs Nike was a growing company, Knight made almost no profit, his business struggled, and faced bankruptcy many times. In 1980 Nike took the opportunity to go public to astounding success, making Knight worth $178 million overnight. The memoir explores the challenges Knight faced with his exporters, which would lead to Knight and Bowerman to manufacture their own shoes, the creation of Nike, their iconic “swoosh”, and the expansion into clothing. This decision led to the birth of Blue Ribbon Sports, and his partnership with track and field coach, Bill Bowerman. With the idea of importing high-quality, low-cost shoes, he took his first international trip to Japan and borrowed money from his father to import Tiger shoes.
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