In 1963, a young runner, fresh out of college, borrowed $50 and started a company with one specific purpose. His idea was to import low cost, high quality running shoes from Japan. Fast-forward to 2016, and this small company has turned into an empire with steadily growing revenue.
Phil Knight, Nike founder, recently was interviewed by CBS news in a clip titled, “How Phil Knight’s ‘crazy idea’ conquers the sporting world.” As I watched the interview I couldn’t help but notice how Knight’s story validates many of the tips I’ve shared here over the years, including:
- Find a mentor
- Be open to collaboration
- Be persistent
Find a Mentor
In the CBS interview Knight discusses his time at the University of Oregon as a mid-distance runner. It was here that he met Bill Bowerman, his track coach, who had a knack for tearing apart and redesigning running shoes with the intent of making them lighter. Knight jokes about being Bowerman’s “guinea pig,” and comments, “If there’s no Bill Bowerman, there’s no me.”
Bowerman planted a seed that year, and as Knight progressed through school to achieve his MBA, that seed grew to a business idea that would impact athletic wear forever. When Knight launched his business in 1964, he partnered with Bowerman. This partnership led to new innovations and the ability to sell their own product.
Be Open to Collaboration
Have you ever heard of “Dimension 6” shoes? This was the name Knight wanted to give to his new brand; however, an employee suggested the name “Nike,” after the Greek goddess of victory.
Knight openly admits that he didn’t like the idea at first, and didn’t like the “wing” logo that a college student had been paid $35 to design. But he was open to collaboration, and setting aside his personal preferences, graciously considered the ideas of others. The Nike brand and “swoosh” symbol are now known across the world.
Be Persistent
The seed planted by Bowerman. The business paper he wrote while studying for his MBA. The times he was ridiculed for peddling shoes out of his truck. Knight could have decided after each of these events to leave it at that and not move forward, but he wouldn’t and seemingly couldn’t stop. He persistently pursued this idea and became successful in his pursuit. Knight comments, “I wanted it, so I knew I had to try it.”
This persistence paid off later as well when it came to advertising. He briefly discusses how people scoffed at him for paying $250,000 for a college basketball player to market his product. In hindsight, signing Michael Jordan was one of the best decisions he could have made.
Knight has experienced great success both personally and professionally. From a tiny shop called Blue Ribbon Sports selling Tiger brand shoes, to rebranding as Nike and manufacturing his own innovations, Knight has persistently and fervently sought after and developed his idea.
How about you? Have you sought out a mentor? Are you open to collaboration? Do you persistently pursue your ideas and goals? Follow the example of the highly successful entrepreneur, innovator, and leader Phil Knight, and you will no doubt achieve greater success—personally, professionally, and organizationally!
Knight’s memoir, Shoe Dog, was just released this week. I haven’t finished reading it yet, but I highly recommend it!
