And as a forewarning, this post includes spoilers. So please read Shoe Dog, by Phil Knight, first. It’s well worth every minute of your time.
First of all, let me start this out by saying I read this book in five days with a full schedule. Once I started, I couldn’t put it down. The last chapter of the book brought me tears. No book on business I have read has ever inspired me as much as this one has.
Below are some of the lessons I learned from Phil Knight in his memoir, Shoe Dog.
Be Open to Doing Things Differently
One of the biggest takeaways from Knight’s story was his desire to truly see the world. I’ve always believed that traveling can change you as a person.
I think traveling had a undeniably strong impact on Knight’s life. In the beginning of his journey, he took a trip around the world. I was jealous to learn that back then you could buy a plane ticket that had unlimited trips for a certain period of time.
Knight was shaped by all of the places he visited and the people he met along the way. When he made his first visit to Japan, he studied how to do business with the Japanese. He took the time to consider their differences and their culture. I think we can all stand to be a little more considerate and open to different cultures and ways of doing things. Our own way may not always be the best way.
Learn When You Don’t Know How
Knight is a life-long learner. His curiosity, but also his drive to keep his business alive pushed him to learn new things. He studied past lawsuits when he was up creek without a paddle.
He surrounded himself with those who had experienced what he was going through. Knowing when to ask for help and then having the courage to ask for it, isn’t an easy thing to do.
Know Your Strengths
At one point in the story, Knight needs to meet with his disgruntled shoe supplier. Knowing full-well he won’t be able to handle the situation calmly, he suggests that one of his team members meets with him instead.
Understanding your own weaknesses can save you from saying the wrong thing as well as taking advantage of your team’s strengths.
You don’t hire someone who can do what you can do well. You hire them to do what you cannot.
Everything Cannot Be Perfect 100% of the Time
When the brand name Nike was showcased to the world, the first prototypes were low-quality and not something Knight was proud of. But he had no other choice than to put out a sub-par shoe given the balance in their bank account at the time.
Yet, when they brought their new prototypes to the trade show, buyers overlooked the flaws knowing what a respectable company Knight had built. They trusted Knight’s team would correct the mistakes (most of which they overlooked to begin with) because of the values they held as a company.
Your people and values are what define you as a company. Nothing is going to be perfect. As a business owner you have to understand and accept that or you’ll drive yourself crazy.
Culture is More Important Than Talent
Knight mentioned a few times how he kept hiring accountants and those who were good with numbers. But every person he hired had a love for the business of making shoes. Every one of them had a passion for athletics, even if they weren’t athletes themselves. They pushed harder when most people would quit. They uprooted their lives for the sake of the company.
In most cases, Knight let his team do their thing without trying to tell them how they should do it. I think that in and of itself is one of the characteristics that defines a true entrepreneur.
If you hire people for their values, you can teach them what to do. It’s the “how” that our values often dictate.
Balance is How You Define It
So often today we hear people say we need to achieve a proper work/life balance. But I think that statement is and should be different for every individual. There are many reasons to become an entrepreneur. Some do it for the money. Others, like Phil Knight, have a desire to build something they can call their own. And if you’re lucky, that something stems from a passion of yours.
A work/life balance is never 50/50. I know entrepreneurs who chose the path they did simply to have more time with their family and to pursue their hobbies beyond their business. For others, their work is what they enjoy, so the balance is a little heavy on the work side.
There is no right or wrong way to balance your life. It’s up to you to decide how you want to spend your life. We all have different definitions of success. Just don’t let other’s decide yours for you.
Conclusion
I can’t speak highly enough about Knight’s memoir. If you haven’t picked up a copy, you won’t regret it. You may even be inspired to travel more, learn something new or feel better about your own definition of work/life balance.
