00:00:10another vision of modeling the Masters I
00:00:12believe that the fastest and most
00:00:14effective way to grow your business is
00:00:16to model the strategies of people who’ve
00:00:18already done what you’re trying to do so
00:00:21today we’re going to look at how a young
00:00:22man left a secure job that his father
00:00:24wanted him to take to follow his passion
00:00:26in the sporting world he went on to
00:00:29build one of the most recognizable
00:00:30brands in the world this is a story of
00:00:33Nike founder Philip night and the top
00:00:35three lessons that you can learn from
00:00:37his success Philip night is the
00:00:40co-founder and chairman of Nike growing
00:00:43up in Portland Oregon night discovered
00:00:45he had a love for running and went to
00:00:46train with the legendary track coach
00:00:48Bill Bowerman at the University to court
00:00:50in addition to coaching barman was
00:00:53experimenting with creating new types of
00:00:55shoes and night field tested them on the
00:00:57track for him after graduating night
00:01:00went to graduate school at Stanford and
00:01:01sign up for a small business class he
00:01:04had to create a business plan in the
00:01:05class and thought back the barman’s
00:01:07shoes in his business plan night
00:01:09developed a blueprint for superior
00:01:11athletic shoes which could be produced
00:01:13cheaply in Japan after taking a job as
00:01:15an accountant to make his father happy
00:01:17and hating it night flew to Japan to
00:01:20find a factory to make his shoes he
00:01:22returned home to create a partnership
00:01:23with Powerman they each invested five
00:01:26hundred dollars into the business and
00:01:27named it blue ribbon sports later
00:01:30changed to Nike in its first year the
00:01:33company sold only three hundred and
00:01:34sixty four dollars worth of shoes but
00:01:37night was determined to make the company
00:01:38work and stuck with it until it did
00:01:40today nike brings in almost twenty
00:01:43billion dollars in revenue night stake
00:01:46in the company gives him an estimated
00:01:47net worth of twelve point seven billion
00:01:49dollars making him the 60th richest
00:01:51person in the world by having the
00:01:54courage to leave the job that his father
00:01:56wanted him to take night was able to
00:01:58start his own business and eventually
00:02:00built one of the most recognizable
00:02:01companies in the world to help you
00:02:04courageously grow your business here are
00:02:06three options you
00:02:07for Phillip night action item number one
00:02:12have a clear focus as entrepreneurs it’s
00:02:15often hard to stick on your path when
00:02:17you’re not getting the momentum you are
00:02:18hoping for or when things seem to be
00:02:21falling apart around you but almost
00:02:23every business owner has to go through
00:02:25those dark days to get to the light at
00:02:27the end of the tunnel and you need to
00:02:28have the faith and courage to stick to
00:02:30your vision and say completely focus on
00:02:32doing what you set out to do as Nike
00:02:35grew night had to decide what the focus
00:02:37of his business would be should he
00:02:40expand to get into the fashion business
00:02:42she had such success sponsoring athletes
00:02:44should he expand and start sponsoring
00:02:46other celebrities night decided that for
00:02:49his company to continue growing he would
00:02:51have to have a clear focus and what he
00:02:52wanted the company to be it would make
00:02:55it easier for him to make decisions and
00:02:56also allow his team to work towards a
00:02:59common goal according to night we wanted
00:03:02nike to be the world’s best sports and
00:03:04fitness company once you say that you
00:03:07have a focus you don’t end up making
00:03:09wing tips or sponsoring the next Rolling
00:03:11Stones world tour were not in the
00:03:14fashion business we’re in the sports
00:03:16business and there’s a big difference
00:03:19action item number to think of business
00:03:22as war the business world is very
00:03:24competitive and some industries are more
00:03:26cutthroat than others if you’re offering
00:03:29a new product or service that you’re
00:03:30hoping will take customers away from
00:03:32your competition expect that those
00:03:34competitors will fight back hard have a
00:03:36plan to beat them and to start winning
00:03:38their market share being a former
00:03:40athlete himself night love competition
00:03:42and relish the chance to compete in the
00:03:45business world night treats business as
00:03:47war and has instilled within his company
00:03:49a healthy dislike of its competitors
00:03:51always trying to one-up his competition
00:03:54when Reebok went to the expense of
00:03:56sponsoring the entire atlanta olympic
00:03:58games nike sponsored just to top
00:04:00athletes but gained much more valuable
00:04:02coverage in the Reebok who is also his
00:04:05competitive streak that made him want to
00:04:07sign a 20 year old Stanford golfer named
00:04:09tiger woods before his competition could
00:04:11it cost night over 40 million dollars
00:04:14but it was a price tag well worth it in
00:04:17order to keep his golfing prodigy out of
00:04:19the hands of his competitors Nike is a
00:04:22very competitive organization and night
00:04:23wouldn’t have it any other way according
00:04:26to night Sports is natural instinctive
00:04:29competitive and in the end rewarding all
00:04:33of us at Nike get to earn 11 in that
00:04:35world a world that is easy to believe in
00:04:37business is war without bullets action
00:04:42item number three just do it the single
00:04:46thing that differentiates entrepreneurs
00:04:47from everyone else is that you went for
00:04:50it you left the security of a steady
00:04:52paycheck the venture into the unknown
00:04:53for your chance to determine your own
00:04:55destiny you need to keep this attitude
00:04:58in mind as you grow your business don’t
00:05:00be afraid of making mistakes you won’t
00:05:03be able to do anything significant if
00:05:04there isn’t a risk of failure Nike is
00:05:07known for its Logan just do it and it’s
00:05:10a statement that accurately reflects how
00:05:11philip night acts as an entrepreneur
00:05:13he’s always taking chances is willing to
00:05:16fail and pushes the conventional limits
00:05:18to accomplish his goals a great example
00:05:21is his relationship with basketball
00:05:22superstar Michael Jordan in 1984 night
00:05:26signed a young Jordan to a sponsorship
00:05:28deal it was a big risk as Jordan was
00:05:30only 21 years old and was
00:05:32just breaking into the league the idea
00:05:35of players being sponsored was also a
00:05:36new phenomenon and was a risky and
00:05:38unproven concept the deal proved to be a
00:05:41huge success for Nike and provided a big
00:05:44publicity and sales boost for the
00:05:45company if night was afraid to just do
00:05:48it if he had been afraid to make a
00:05:50mistake the deal would have never
00:05:51happened according to night the trouble
00:05:55in America is not that we are making too
00:05:57many mistakes but they were making too
00:05:59few so remember have a clear focus think
00:06:05of business as war and just do it to
00:06:09finish up this video I wanted to share
00:06:10what I’m like vaguely true stories about
00:06:12Philip night and some of his best bolts
00:06:15in 1972 night decided his company Blue
00:06:19Ribbon sports needed a new name and a
00:06:22new logo night like the name dimension
00:06:24six but a staff disagreed one employee
00:06:27suggested nike after the Greek goddess
00:06:30of victory night then paid $35 to
00:06:33Carolyn Davidson a University of Oregon
00:06:36student to design the now famous swoosh
00:06:38logo at the time Knight said I don’t
00:06:41love it but it’ll grow on me he was
00:06:44under a deadline to pick a logo so he
00:06:46went with it and a new company was born
00:07:35thank you for joining me for another
00:07:37edition of all in the Masters if you
00:07:39enjoyed the video please give it a
00:07:41thumbs up below I also love to hear your
00:07:43thoughts and feedback if you want to
00:07:44leave a comment and stay tuned for the
00:07:46next episode
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