“Our stories are not about extraordinary business plans or financial manipulations … they’re about people getting things done.” Nelson Farris, Nike’s Director of Corporate Education
Nike’s journey began humbly, from the boot of a car!
Phil Knight, ( co-founder), started with neither money nor a clear vision for the future. He was poised for a mundane career as an accountant. Knight enjoyed running, modestly calling himself an “average mid-distance runner”.
Knight observed his track coach, Bill Bowerman, the other co-founder of Nike, constantly tinkering with athletes’ running shoes, resulting in an immediate impact. Knight became deeply fascinated by the impact shoes could have on an athlete’s win or loss.
Knight came across Japanese Onitsuka Tiger running shoes, which he found superior to the popular German-made shoes of that era. Sensing a business opportunity, he began importing these shoes and selling them directly from his car boot, setting the stage for something remarkable.
Knight and Bowerman founded a company driven by their passion for running and innovation in athletic footwear. They loved their purpose, the challenge, and the freedom to shape their business!
They did start small but knew it had big potential!
Over time, Nike grew exponentially, becoming a global powerhouse. And the rest, as they say, is history.
Key Business Lessons
Start Small, Dream Big
A small start can lead to extraordinary growth with the right vision and dedication. Don’t be discouraged by your initial resources and scale. Humble beginnings can have the potential to turn into a massive success!
Our car rentals venture began from the ‘lobby doubling as office’ of our humble home, with just enough savings. We dreamed big, aiming to be among the top players in our industry, despite competing with well-established giants. Our vision was clear, and our four-member team believed in it wholeheartedly, which was incredibly encouraging. We achieved great success and stayed among the top three players for a long time!
Passion Fuels Success
Phil Knight and Bill Bowerman founded Nike based on their shared passion for running and innovation. When a business is built around something you love and are passionate about, it becomes easier to stay motivated, overcome obstacles, and achieve success.
Our founder and I, as co-founder, were brimming with passion to not only achieve our audacious goal but also to bring professionalism and affordability to the disorganized car rental industry in India in the early ’90s. This passion inspired our employees and vendors, helping us scale significantly.
Innovate and Adapt: The constant innovation Bowerman demonstrated with his athletes’ shoes was critical to Nike’s success. In today’s fast-paced business environment, continuous improvement and adaptability are crucial for staying ahead of the competition and meeting evolving customer needs.
In our car rental business, our massive goal and driving vision required us to be flexible, agile, and continuously adapt to the market and changing customer needs to stay ahead. It wasn’t an easy task, but with the right mindset across our enterprise and the right systems and processes in place, we succeeded most of the time.
The Nike story and my personal experiences show that with passion (an obsession mostly), a continuous improvement mindset, and perseverance, even the most modest beginnings can lead to monumental achievements.
Reflection & Action
- What small, actionable steps can you take today to move closer to your big vision, and how can you leverage limited resources creatively to achieve significant growth?
- How can you foster a culture of continuous improvement within your business to stay ahead of market changes, and what processes can you implement to ensure your team consistently adapts to new challenges and opportunities?
