This month’s book review is ‘Shoe Dog’ the story of Nike from the very beginning. It is in my opinion one of the best business books an entrepreneur can ever read. I last reviewed this book some 5 years ago but recently read it again and enjoyed it even more the second time round, so decided to write a new review.
If you have not read this book, I highly recommend it!
This is far more than the origin story of Nike. It is an intimate, raw, and brutally honest account of the struggles, risks, and relentless determination behind building one of the most iconic brands in the world.
The journey is not sugar-coated. Knight recounts the chaos, near-disasters, and improbable triumphs that defined Nike’s rise from a scrappy startup into a global powerhouse.
The story begins in 1962, when Knight, a recent graduate from Stanford’s MBA programme, embarks on what he calls his ‘Crazy Idea.’ At the time, Adidas and Puma dominated the global athletic shoe market. Knight imagined challenging them by importing high-quality but lower-cost running shoes from Japan, a country just beginning to rebuild its manufacturing credibility. Armed with $50 from his father, and a deep love of running, Knight set off on a world trip. In Japan, he convinced Onitsuka, makers of Tiger running shoes, to grant him distribution rights for the United States, a bold move for someone with no company, no employees, and no plan beyond instinct.
Back home, Knight founded ‘Blue Ribbon Sports’ in 1964 with his former running coach, the legendary Bill Bowerman. Bowerman was not only a co-founder but also a relentless innovator, constantly tinkering with shoe designs, famously pouring rubber into a waffle iron to create a revolutionary sole. Their partnership combined Knight’s vision and financial scrappiness with Bowerman’s obsession with performance.
The early years were precarious. Knight sold shoes out of the trunk of his car at track meets, while Blue Ribbon constantly teetered on the brink of collapse. Growth was rapid, but cash was always short. Banks repeatedly turned Knight away, sceptical of his unconventional business. Time and again, Nike, as it later became, was days from running out of money. These financial struggles along with lawsuits from Onitsuka when the partnership soured nearly sank the company. Knight’s willingness to live with extreme risk, and his dogged refusal to give up, stand out on every page!
By 1971, Blue Ribbon split from Onitsuka and launched its own brand: Nike. The name, suggested by an employee, referenced the Greek goddess of victory. The now-legendary ‘swoosh’ logo was designed by a young graphic design student for just $35. Nike’s early shoes, including Bowerman’s waffle trainer, quickly caught attention among runners. But the company still lived hand-to-mouth, reinvesting everything into growth.
One of the most pivotal moments came in the mid-1970s, when the banks called in their loans and Nike faced potential bankruptcy. Salvation eventually came through a transformative IPO in 1980, which finally gave Nike the capital to expand globally. By then, its shoes were being worn by some of the world’s greatest athletes, and the company’s reputation for innovation had begun to spread.
Knight demonstrates that success rarely comes from a grand, perfect plan; it comes from dogged persistence, trial and error, and adapting under pressure.
The importance of people shines through – his ‘Buttfaces’ the loyal band of eccentric early employees who shared his dream, were crucial in holding the company together. There are certainly some interesting characters that helped define and develop the early Nike business.
Knight highlights that to succeed, one often must embrace enormous risk and live uncomfortably close to failure. He also underscores this by saying that building something meaningful requires more than profit, it requires passion, purpose, and belief in the mission.
The final thing to add is how you say ‘Nike.’ Even the press and media get this wrong, but the correct way to say Nike according to Phil Knight is ‘Ny-Kee’ – so now you know!!
If you haven’t read this before and you buy just one book this year, buy this one!!
