Takeaway from Shoe Dog by Phil Knight

Lessons I took away from reading the book Shoe Dog by Phil Knight

1. Keep solving problems

All the way till the company went public the business was low on cash, but they continued to look for solutions.

2. Keep iterating

Nike consistently create a new shoe models, experimenting to find way to make the product better.

3. Find great partners and stick with them

Husband/wife. Sales person. Product developer. Factories. Countries. Retailers. Banks.

4. Ownership. Better to be owner.

When they went public they had 2 classes of shares so that Phil Knight could retian ownership.

5. Diversify

More than just shoes. Clothes, brand, lifestyle

6. Marketing

Celebrity athletes were a key part of their popularity and sales.

7. Location does not matter

They have always been in Oregon and create a worldwide business

8. Be the only

Shoes have existed since the beginning of time, but Nike made athletic shoes acceptable everyday footwear.

9. Always be growing

Nike was constantly growing from the beginning.

10. Cash flow is king

You need to have cash in order to operate a business.

11. Different is good

Phil Knight went to Japan and partnered with them when it ws not popular. But he found value in their products and culture.

JamesAltucher @JamesAltucher

This is a great use of idea lists. To keep track of all the things you learn from different sources. I always forget things if I don't write them down after I read a book or do a podcast or whatever.

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Collin @harnessmoney

Same! I listen to books and read podcasts and then forget what it was about and sometimes have to go back and listen again. Will start writing down the ideas after I finish something.

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chantelle @chantelle

I agree with #5. Never put everything in one basket.

I will try to do #1 everyday. This is a good way to be better in life.

kriscalulo89 @kriscalulo89

Definitely true with #10! Money talks I guess. What do you think?

Collin Harness

Takeaway from Shoe Dog by Phil Knight

1. Keep solving problems

2. Keep iterating

3. Find great partners and stick with them

4. Ownership. Better to be owner.

5. Diversify

6. Marketing

7. Location does not matter

8. Be the only

9. Always be growing

10. Cash flow is king

11. Different is good

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