Posted on : August 25, 2016
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Category : Startup
“The cowards never started, and the weak died along the way — that leaves us.” This summarizes the stamina and determination of Phil Knight, the founder of NIKE.
- Nike spent nearly two decades on the brink of bankruptcy . Knight started his shoe company, originally called Blue Ribbon Sports, in 1964 by selling shoes from the trunk of his car at various sporting events. His first year, the company grossed around $8,000.
- Quality and innovation were always the end goal. When Knight and the team were looking at factories to build their shoes, they continually fought to improve quality, to make sure their shoes were worth the praise they were getting.
- Knight didn’t care for advertising. Knight writes that for most of Blue Ribbon Sports and Nike’s early years, he didn’t see much value in advertising and wanted little to do with it.
- An unhealthy contempt for Adidas. “I was developing an unhealthy contempt for Adidas. Or maybe it was healthy. That one German company had dominated the shoe market for a couple of decades, and they possessed all the arrogance of unchallenged dominance. I despised them.”