Principles from Phil Knight
Succeeding Together: The Transformative Influence of Support and Collaboration
Estimated reading time (3 minutes)
Happy Friday, everyone.
Welcome to Principles Friday, where I share one principle that can help you in your life or business, one thought-provoking question, and one call to action toward that principle.
Principle of the Week
"Play by the rules, but be ferocious." by Phil Knight.
In 1962, Phil Knight had the vision to import high-quality running shoes from Japan to the United States. To fund his venture, he borrowed $500 from his father and started Blue Ribbon Sports, which later became Nike.
While his father provided the initial financial support for his business, his mother made a memorable purchase that demonstrated her belief in his vision.
Phil Knight's father, William W. Knight, was a lawyer and his first investor. He loaned Phil $500 to import running shoes from Japan and supported his entrepreneurial pursuits. However, Phil's mother, Lota Knight, initially had reservations about his business ventures. She was more cautious and preferred a stable, traditional career path for her son.
Despite her initial skepticism, Lota eventually came around and uniquely showed her support. She purchased a pair of sneakers from Phil's fledgling company, Blue Ribbon Sports, which he had founded with his former track coach, Bill Bowerman. Buying a product from her son's business not only demonstrated her faith in him but also marked a turning point in her perception of his entrepreneurial aspirations.
Lota's decision to buy a pair of sneakers from her son's company showcased a shift in her understanding and support for his endeavors. It symbolized her recognition of Phil's passion and the potential for success in the athletic footwear industry. This gesture from his mother, combined with his father's early support, provided Phil Knight with the encouragement and validation he needed to continue pursuing his vision.
The contrasting perspectives of his parents reflected the different attitudes often encountered by entrepreneurs: skepticism and caution versus belief and support. Phil Knight's ability to navigate these dynamics and earn the trust and backing of both his parents played a role in his journey to establish Nike as a global powerhouse in the sportswear industry.
Question to Ponder
How can you actively cultivate a support system that uplifts, inspires, and helps you thrive in your personal and professional endeavors?
Can you think of someone who believes in you and you haven’t thanked yet?
Call to Action
Take a moment to evaluate your current support system.
Identify the individuals who genuinely support and believe in your aspirations, dreams, and goals. Consider reaching out to them to express gratitude for their support and acknowledge the positive impact they have had on your journey.
Reflect on the areas where you may need additional support or guidance, and proactively seek out mentors, coaches, or like-minded individuals who can provide valuable insights and encouragement.
Nurture these relationships by offering support and encouragement in return, creating a symbiotic environment of growth and empowerment. Invest time in networking events, communities, or organizations that align with your interests and goals, allowing you to connect with individuals who share similar passions and can provide valuable support.
Remember, building a strong support system is not a one-time effort but an ongoing process that requires genuine connections, active participation, and mutual support.
Video of the Week
“The only time you must not fail is the last time you try.” Phil Knight
If you want to learn more principles, I interview founders on my podcast, The First 100, where they share how they acquired their first 100 paying customers. This week:
Episode 75 - The First 100 with Barada Sahu, the founder of Mason
Episode 74 - The First 100 with Nicolo Robba, the Co-founder of LifePal
And that’s a wrap for now!
Thank you for giving your attention and checking this edition out.
If you enjoyed this edition, it would MEAN A LOT to me if you could take a few seconds and help me by sharing this article with your friends.
If you are not a subscriber, sign up and join others who receive it directly in their inbox weekly.