Famous Entrepreneur

Phil Knight

Biography

Born: February 24, 1938 in Portland Oregon

Education: Cleveland High School in Portland Oregon

University of Oregon in Eugene

Accomplisments

In his early career Knight was a certified public accountant. Later he co-founded Blue Ribbon Sports with Bowerman at University of Oregon in 1964. Later Blue Ribbon Sports would become Nike.
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Nike

The Nike company was originally Blue Ribbon Sports. At their store they were distributor of Onitsuka tiger shoes, which are now known as Asics. The company was later named Nike by the first employee after the Greek Goddess of Was. The first shoe Nike made was made by Bowerman in a waffle iron in 1971. This later became the "Nike Waffle Trainor" and was patent in 1974. The swoosh was designed by a Portland State University student. The company was started with just $1,200 in the bank. In the first year Blue Ribbon Sports had sold eight thousand dollars worth of shoes. By the late '70's the company blossomed from $10 million to $270 million in sales.

Failures/challenges

Money was the hardest challenge in the beginning. After they patent the first Nike shoe, technology and designs were the next challenges to arise. There have been many designs of shoes that have failed and there always will be, that's just part of the business.

Lessons to success

Have a clear focus.

Think of Business as War.

Just do it.