Nǐ hǎo, I'm Julia.
Shoe Dog summary
My key learnings
- Nike was led by a band of misfits - it was all about the culture. Question why things are done a certain way and do it differently if it makes sense to.
- Tell the truth and negotiate based on truth.
- Enter negotiations knowing at what point you will walk away.
- Never give up or at least, have the spirit to go on because you’re passionate about what you do and know you’re going to give it your all.
- Travel the world and find opportunities.
- Think about what you'll do to save your company's culture (e.g. not going public on the stock exchange).
- Experiment and innovate continuously.
- Having a grand vision for cracking China or taking over their biggest competitor Adidas.
Adversities Nike overcame
- Running on float. Not having a bank to lend them money.
- Losing their loan by a bank who then asked the FBI to investigate them for fraud.
- Lying to their Japanese export funder by using their funds to finance their own factory. But then owning up to it.
- Being sued by Onitsuka for breaching contract and counter suing in the US.
- Being slapped with a tax bill of $20 million brought about by jealous competitors.
- Convincing stockists to buy shit (early) models of shoes based on track record and honesty.