Having been a decent runner on the U of Oregon track team, he's obsessed with shoes. In fact, beyond that, Bowerman actually asks to be a partner in the fictitious company, Blue Ribbon. #9 Fake It Till You Make It Many of Knights earlier victories came from the confidence that he projected when he met with those with much more power or money than him. Whats your major takeaway from how Phil Knight built Nike? In 1980 Nike took the opportunity to go public to astounding success, making Knight worth $178 million overnight. Home Books Shoe Dog Summary (5 Minutes): 20 Lessons Learned & PDF Download. Lets turn to Phil Knight to see how you can make it a reality and have fun along the way! 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. At First National Bank, he demands that they give Blue Ribbon more money, to everyone elses chagrin. A groundbreaking year for Phil Knight and Blue Ribbon. A look at the Shoe Dog behind-the-scenes crew and production team. In his last days on campus, he meets an artist, Carolyn Davidson, who complains about not being able to find work. On the one hand, I found it very fascinating to read about the ups and downs . Phil will never forget this. Bush paid Outcault $200 for licensing rights to use the Buster Brown name and image on children's shoes. Knight valued publicity and focused on signing popular athletes to become brand representatives for Nike. Phil feels betrayed theyd revolutionized Onitsuka, shown them how to make a better shoe, and now Onitsuka was planning to cut them out. 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. 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. Just one late payment to Blue Ribbon, and the whole tower might crumble. He also claims that he wanted to pay laborers in foreign countries more money but local governments often got in the way. Shoe Dog: A Memoir by the Creator of Nike is a 2016 memoir by Phil Knight, the co-founder of Nike. "You are remembered, he said, prophetically, for the rules you break. Instead, in 1962, he was as awkward, lost, and nervous as any other recent graduate wondering what to do with their future. Sales double again to $14 million. He now has to travel to Japan, find a shoe company, and pitch them his Crazy Idea. Phil takes accounting classes, earns his CPA, then joins an accounting firm. Knights focus was always on the quality and performance of his products, however, delivering his orders on time was more important to him. After splitting the company 51-49, with Knight in a position of slight majority control, they order $1000 worth of shoes. Shoe Dog Release Date: When is the film coming out? It seems obvious to him. It was an all-consuming mania, a recognizable psychological disorder, to care so much about insoles and outsoles, linings and welts, rivets and vamps. So, as we can see from this definition, Phils role as Blue Ribbons shoe dog played a significant part in his life and identity! In Shoe Dog, he tells his story at last. Plus, receive recommendations and exclusive offers on all of your favorite books and authors from Simon & Schuster. 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. The salesmen have been doing business with Blue Ribbon for years, and they know Blue Ribbon isnt a fraud. Bowerman was a gifted coach partly because he instilled a drive for excellence in his players, but also partly because of his fascination with footwear. But he eventually gets his fire back, and hes wearing Nikes while winning. But theres no denying that luck is the ultimate determining factor for business success. That leaves us, ladies and gentlemen. 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. Start Your Perfect Shoe Finder Whether you like or wear Nike or not, everyone instantly associates their brand with that slogan. 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. Then the factory workers paychecks bounce. In response to Knights new shoes, the Tigers, Bowerman approves. He was surrounded by superstars in all areas and specialties which allowed him to make excellent shoes and create fantastic ad campaigns. Writers! 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. It also highlights certain parts of Phil Knight's life. Read in: 4 minutes Favorite quote from the author: Table of Contents Video Summary Shoe Dog Summary Shoe Dog Review Audio Summary While he waits for shoes to arrive, he yearns to travel, and wonders whether his journey was the peak of his life. Engaging your audience will have a profound effect on your marketing and brand. #13 Understand Your Audience Regardless of what product you are selling or your marketing campaign, you need to understand your audience to be successful. As Nike was a growing company, Knight made almost no profit, his business struggled, and faced bankruptcy many times. Eventually, they settle on a final number - $9 million. But he was great at coming with big ideas, even if those ideas werent valued or appreciated by the people around him. He is 24. China is its largest producer of shoes. While Kitamis in the bathroom, Phil steals a folder from Kitamis briefcase. Pushing through those challenges has earned him the success that Nike has today. This Study Guide consists of approximately 39pages of chapter summaries, quotes, character analysis, themes, and more - But in the actual Olympics, a runner who had previously worn Nikes at the Trials was now wearing Onitsuka Tigers he wasnt confident Nikes would last a whole marathon. He graduated from the University of Oregon. 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. When youre launching a new business, finding the right employees is critical. He quits and takes up a teaching position at Portland State University, paying $700 a month. They think theyre doomed, but people crowd around, asking questions and actually buying shoes. It was published in 2016. Phils quite sure his father will demur from funding his wanderlust. This type of team-building exercise was genuinely helpful when it came to motivating and encouraging Phils employees. Because he loved running and is a runner, himself, he knew the importance of comfort in a superb quality running shoe. He felt that failure would gain him wisdom, and wisdom is an intangible asset. Shoe Dog is the memoir of one of the founders of Nike. Most importantly, Phil starts to doubt Kitamis sincerity from recent wires and letters. Bowerman designs the LD 1000, a shoe with a flared heel meant to reduce pressure on the knee. Knight looked to Adidas as inspiration, but also as their main competitor. Phil thinks theyre beautiful. He lies that Nike isnt currently yet in stores. My impression of Shoe Dog is mixed. #14 Have a Galvanizing Higher Purpose Your brand cannot clearly be just a push for money. He managed these victories by acting as though he was successful and he eventually became so. Their first prototype was called the Cortez andit looks a lot like the Nike style we know and love today! Traditional advertising was not favored by Knight. The years in between are comprised of the struggles and challenges Knight faced as he worked to build the company that would ultimately be known worldwide as Nike. In 37 years, we've fit 3 million shoes, so you know you'll get the perfect fitting shoe. Today, Nike is a household name in sportswear. As expected, Onitsuka files a suit for breach of contract in Japan. Whats Nike? he asks. When he started business school, he focused primarily on projects that were shoe-related. He loved following them and he loved doing sports. Phil strongly requests two employees, Woodell and Johnson, to trade roles and locations, transferring between Boston and Oregon. Shoe Dog is a first-person memoir written by Nike co-founder Phil Knight. His passion for his Crazy Idea paid off, and the businessmen agreed to his plan. One morning while on a run, Phil Knight has a Crazy Idea. The first 300 pairs took over a year to be delivered, during which Phil worked as an accountant. And Bill? His vision for the company was to give runners the best running shoe on the market. 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. #2 The Goal Was Always Quality Possibly one of the biggest ways in which Nike beat the rest of the competition was the constant focus on quality and innovation. 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. He wanted to sell Japanese, high-end, low-cost running shoes in the US. Iowas head coach calls, angry that Nike had incorrectly claimed a partnership that didn't existbut then asks to sign with Nike too. They might be swallowed by your pet, or you might notice them around in the house. Today, Nike's annual sales top $30 billion. So Knight was shocked when Bowerman said he not only liked the shoes, but he also wanted to be a part of the business. During roll call, he learns her name Penelope Parks. [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. 5. For Nike, as an example, this would be inspiring people to be more physically fit and healthy. But Phil felt certain that he was right. Being forced to do this was un-American, it says. Word travels to Japan, and Kitami from Onitsuka shows up two weeks later. Phil responds that its a backup in case Onitsuka cuts ties with Blue Ribbon. He is the co-founder and chairman emeritus of Nike, Inc., and was previously chairman and CEO of the company. A 3 Minute Summary of the 15 Core Lessons #1 Things Were Tough at the Beginning This hands-off management style would continue to add to Blue Ribbon and then Nikes success. Just a few months later, their fledgling company sold out of their shoes and ordered another shipment of 300 shoes. You can help Wikipedia by expanding it. With some funding from his father, he is able to fly to Japan and travel the world in the process. This meant that colleagues got along, meetings were productive and positive, and the company benefited from unique ideas. But at Wimbledon, they find a young hothead named John McEnroe, and Phil falls in love with him. The only thing stopping his from . Personality Types Nike and Adidas have a well-established brand rivalry. Phil describes his father as obsessed with respectability and grounding in traditional values, and wandering the earth seemed the antithesis of this. BHAGs are meant to excite and energize people in a way that quarterly targets and lengthy missions statements often fail to. Phil hoped to get a sale and a powerful testimonial. Shoe Dog: A Memoir by the Creator of Nike is a 2016 memoir by Phil Knight, the co-founder of Nike. 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. The spy is Fujimoto, the man whose bicycle he replaced. "I LOVE Shortform as these are the BEST summaries Ive ever seenand Ive looked at lots of similar sites. He had to follow his passion his calling. Shoe Dog Timeline 1962 1. (Shortform note: Just take a minute to remember that business used to be done entirely through phone and letters, not email). His customers love him, depending on Johnson to solve their problems in both running and life. His passion for footwear began when he was an undergraduate student at the University of Oregon. This article about a memoir is a stub. Tell them what to do and let them surprise you with their results.. Angel Numbers It was published in 2016. A brilliant businessman named Phil Knight is the reason why that happened and Shoe Dog (2016) is his story. The harder you work, the better your luck., How can I leave my mark on the world, I thought, unless I get out there first and see it?, Beating the competition is relatively easy. 4. They drive him around the Pacific Northwest, feeding them salmon and wine. It is easy to feel unproductive when you view a task as a huge project. 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.). You grow or you die. His life revolved around the concept that growth was the most important thing in his life. Bill Gates named Shoe Dog one of his five favorite books of 2016 and called it "an amazing tale, a refreshingly honest reminder of what the path to business success really looks like. He offers an honest perspective about the imperfect process of building a successful company. This means Blue Ribbon lives check to check, barely making their monthly payments to the Bank of California and Nissho. But as time progressed towards himsteppingdown as the companys chairman (which he did in June 2016), he knew a memoir was in order. Does it create momentum? What do the self-help and business industries both have in common? Phil is bewitched, and they exchange long meaningful Once again, sales are poised to double for Blue Ribbon, now at $300,000 this year. 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. Please share these important lessons by pinning this post to Pinterest. That acronym stands for big hairy audacious goal and entrepreneurs and self-help authors believe that everybody should have one. Small businesses got their startup cash from banks, but banks had very different priorities from todays venture capital firms. He risked everything, on multiple occasions, to grow Nike into the company we know today, and took extraordinary measures to pursue personal growth through his study, reading, and travels. People flock to see him, and Pre urges them to give Nike a try. Maybe Onitsukas getting ready to raise prices on Blue Ribbon. Instead of trying to force employees to conform to some stuffy idea of professionalism, Phil gave his staff the freedom to be themselves. Those are all the qualities that Phil Knight wanted his brand to embody and thats what Nike has become. You can help Wikipedia by expanding it. The book was ghostwritten by J. R. First, well discuss his Crazy Idea to sell Japanese running shoes. Then, well discuss how Blue Ribbon transitioned into Nike and how Nike became the successful brand it is today. Use this for your own products and advertising campaigns to great effect. The term was first coined by author and motivational speaker Jim Collins and he defines a BHAG as a compelling, long-term goal that is intriguing enough to inspire employees of an organization to take action.. Who would I recommend the Shoe Dog summary to? Immediately, he sends two pairs to his old track coach at U of Oregon, Bill Bowerman. But Phil had a theory that if American athletes discovered how cool the Japanese Tiger shoes were, you could create a market for Japanese sportswear in America. "When you see only problems, you're not seeing clearly.". Then, at Blue Ribbon, he insults the company by saying doubling isnt enough - sales should be tripling every year. He had to walk into boardrooms with many experienced businessmen or borrow huge sums of money several times in order to make it to the top. Sales are $16 billion that year (to Adidass $10 billion). Something that would inspire people to push their limits and find out what they could do. Shoe Dog[2] is a memoir by Nike co-founder Phil Knight. Paperback - 26 April 2016. everything you need to sharpen your knowledge of Shoe Dog. At the time, Bill also started coaching popular runners and future Olympians, helping to sell more shoes, and when Phil mailed Bills first modified shoe prototype, the Cortez, to Onitsuka, suggesting they manufacture it, they landed their first big, commercial hit. #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. The litmus test of a true BHAG is how it answers the following questions: does it stimulate forward progress? #16 Understand the importance of storytelling. But have you ever wondered how Nike got its start? Startled by his own success, Phil randomly blurted out Blue Ribbon, when Onitsuka asked him for the name of his company. Buck also gave Johnson a sales target of 3250 pairs of shoes and, if he sold that number, would be allowed to open a new store. Learn about the man who made Nike what it is today. 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. In a memo to his company, Phil announces that hes hired a spy. He stresses that this is completely accepted in Japanese business culture. When he was 24, Knight traveled to Japan to pursue his Crazy Idea. Phil's dad would have preferred his son worked in a respectable career and company, rather than starting a risky new shoe business. #12 Be a Storyteller Many of Nikes most famous ad campaigns and marketing victories have come from an emphasis on storytelling. . 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. #12 A massive project is just many small projects. In this chapter, well get to learn more about the meaning behind this books title. In the meantime, he needs a job. They accepted Knights proposal and asked for the name of his company. 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. Phil Knight was the very first student to try one of Bowermans legendary shoes and it improved his running abilities so much that the experience forever changed Knights views about shoes. At the time he founded Nike, back then called Blue Ribbon, in 1964, Phil had no idea what this crazyplan of his would turn into, how much it would change the world and that itd make him the 15th-richest person on the planet. 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. 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. 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. Rather than looking for shiny corporate-style employees who were cookie-cutter copies of each other, Phil actively sought out the misunderstood creative geniuses. Selling the shoes from the boot of his Plymouth, Knight grossed $8000 in his first year. The Onitsuka shoes arrive! Knight makes special mention of several employees in his book and credits them with a huge amount of the overall success of the company. Even though nobody was all that impressed with the paper, Phil became obsessed with the idea. 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. But have you ever wondered how Nike got its start? He obsessed over shoes and how to make them better. Shoe Dog by Phil Knight in Biography & Memoir Learn about the man who made Nike what it is today. 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