Takeaway from Shoe Dog by Phil Knight
Lessons I took away from reading the book Shoe Dog by Phil Knight
All the way till the company went public the business was low on cash, but they continued to look for solutions.
1. Keep solving problems
Nike consistently create a new shoe models, experimenting to find way to make the product better.
2. Keep iterating
Husband/wife. Sales person. Product developer. Factories. Countries. Retailers. Banks.
3. Find great partners and stick with them
When they went public they had 2 classes of shares so that Phil Knight could retian ownership.
4. Ownership. Better to be owner.
More than just shoes. Clothes, brand, lifestyle
Celebrity athletes were a key part of their popularity and sales.
They have always been in Oregon and create a worldwide business
7. Location does not matter
Shoes have existed since the beginning of time, but Nike made athletic shoes acceptable everyday footwear.
8. Be the only
Nike was constantly growing from the beginning.
9. Always be growing
You need to have cash in order to operate a business.
10. Cash flow is king
Phil Knight went to Japan and partnered with them when it ws not popular. But he found value in their products and culture.