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A Shoe Mogul's Visionđź’°
School of Hard Knocks
February 22, 2024
Happy Thursday, Hard Knocks community! đź’°
Get ready for our next session here at the School of Hard Knocks, where we bring you the real-deal insights to help you level up in life, business, and beyond. This week's newsletter might just transform your business.🔥 Retail Billionaires and Lambo Drivers are on the lesson plan ahead…
Today’s Schedule
A Shoe Mogul’s Vision: How Billionaire Phil Knight laid the foundation for Nike to be a $100 Billion Company
Free Game: 70-Year-Old Lamborghini Owner Gives Success Secrets
From the Hard Knocks Library: Shoe Dog by Phil Knight
In Case You Missed It: See our Latest YouTube Video
Class is in Session 🔥
A Shoe Mogul’s Vision🚀
Billionaire & Nike Founder Phil Knight
This week we are diving into the relentless spirit of Nike, the iconic sportswear brand that has transformed the world of athletics and beyond.
Founded by Phil Knight in 1964, Nike’s journey began with a spark of inspiration during his travels in Japan, where he saw the potential to revolutionize athletic footwear. From it’s humble beginnings operating out of the trunk of Knight’s car to global powerhouse, Nike’s story is one of innovation, passion, and unwavering determination.
At the heart of Nike lies 10 core principles, serving as a guiding lights shaping the company’s culture and identity. These principles are more than just words on a page; these principles embody the essence of Nike’s spirit, influencing every aspect of the company, from product design to marketing strategies. They are the driving force behind Nike’s commitment to innovation, excellence, and pushing the boundaries of what is possible.
Today, we’re highlighting four of Nike’s core principles that embody the essence of Phil Knight’s playbook and offer valuable insights for entrepreneurs and leaders alike:
Here are our 4 favorite company principles from Nike:
Our Business Is Change:
With the mission of creating disruption in the market place at the forefront of the company, Nike leads with the intention of being innovators within the industry. This comes with risk of course, but most successful companies did not get to where they are by taking the safe route. Look to be a disruptor, innovator and stand out amongst your competitors.
We’re on offense. All the time: The moment you’re not growing you’re dying. As long as quality is able to be maintained within your product or service you should always be seeking out new customers and relationships. The moment you stop prospecting for new customers is the moment your business starts to decline. Be bold, take risks and most importantly, never stop selling.
Perfect results count — not a perfect process. Break the rules: fight the law: How you get to the goal doesn’t matter as much as long as you get there. Often times the road to success is never a straight path and is filled with wrenches thrown your way that you could have never prepared for. It’s okay to break the rules and push the boundaries. Win by any means necessary.
If we do the right things, we'll make money damn near automatic: When you provide a great service or product and it has a strong brand behind it your marketing extends further than your advertising campaigns. The product starts to sell itself and your customers will act as your salespeople referring you to their friends and family. Focus on doing what's right for your customers and your business. By prioritizing excellence and integrity, financial success will naturally follow.
Words of Wisdom
“Standing out is the most important thing…You have to find another angle in. Don’t do the same things”
Free Game
We’re back in Highland Park Village, Dallas, Texas, for our Luxury Shoppers Video where we came across a gentleman driving in a Lamborghini. He was down to give us his time but we had to start the interview while he was still driving since he was on the go. We quickly realized this was going to be one of the best interviews we’ve ever filmed. Harold Gernsbacher, a 70-year-old Supply Chain Millionaire, left us with nuggets of success that couldn’t be more relevant for the business world we live in today!💰
Lessons from our Interview with Harold Gernsbacher:
Without Your Word In Business, You Have No Business:
Harold stressed the importance of integrity in business dealings. If you don't keep your word, it's hard for people to trust you. This makes it harder to build profitable, long-lasting relationships in business. He emphasized the significance of honesty and transparency in all interactions. To further make his point, Harold pointed out he not only has 1 Lamborghini, he has 3.
Action Item: Make honesty a cornerstone of your business practices. Take time to reflect on the promises you make and ensure you fulfill them. It's also a great practice to follow the phrase, "Under-Promise, Over-Deliver." Create a reputation of being reliable. It will help you build lasting relationships with clients, partners, and co-workers.
Be Unbreakable During Financial Challenges:
In discussing financial struggles, Harold highlighted the importance of resilience and determination. People facing adversity should refuse to let the pressures of their circumstances win. His mantra, "Be tougher than poverty," can help others rise above financial obstacles.
Action Item: Don't focus on the problem and start working on the solution. Instead of feeding into the adversity, channel your energy into constructive actions. Look for opportunities to improve your position. As long as you are 1% better than the day before, you are going in the right direction.
Think Outside-the-Box:
Harold emphasized the necessity of thinking differently in today's world. With the rise of artificial intelligence (AI), he warned against complacency and being ordinary. People need to differentiate themselves by embracing creativity and innovation. To beat AI, you need to explore unique paths to success instead of going along with the majority.
Action Item: Challenge the status quo and explore new avenues for success. Taking risks is how almost every successful entrepreneur got to where they are today. Spend time understanding your industry and look for areas where you can innovate. Be curious, seek out new perspectives and develop an approach that sets you apart from the crowd.
In Case You Missed It
Yesterday we just dropped our new YouTube video where we interviewed luxury shoppers in varying industries all across Dallas, Texas. We asked people about the most amount of money they have made in a year as well as asking for their career & life advice. We interviewed entrepreneurs in a variety of industries such as private equity, supply chain, entrepreneurship, restaurants and even a professional football player. Be sure to check it out and subscribe to the YouTube if you haven’t already!🔥