In 1971, Phil Knight was teaching accounting at Portland State University.
One day, he overheard a graphic design student say that she couldn’t afford to take a painting class.
Knight paid her $35 to design a logo for his start-up shoe company.
When he saw the design, he said,
“I don't know if I like it, but maybe it will grow on me.”
Knight didn’t have time to fuss over the logo. "We had a deadline," he explains. He had signed a contract with a factory to produce 3,000 pairs of Nike's first shoe. "Production was starting on the shoe that Friday."
Before then, they needed a logo.
“You don’t like it?” Knight’s chief operating officer asked of the student’s design.
“I don’t love it,” Knight said, “but we’re out of time. It’ll have to do.”
Takeaway 1:
It's said that if not for constraints and deadlines, nothing would get made.
George Lucas, for instance, worked on drafts of the first Star Wars for years. "I never arrived at a degree of satisfaction where I thought the screenplay was perfect," he said.
But then he struck a deal with a movie executive from United Artists—"At that point, it became an obligation," Lucas said.
"If I hadn't been forced to shoot the film, I would doubtless still be rewriting it now."
Takeaway 2:
At Nike's IPO in 1980, Phil Knight gave the student who designed the Swoosh 500 shares.
She never sold.
Since the IPO, there have been 7 stock splits. So those 500 shares have become 64,000 shares. At the time of this writing, Nike is at $110/share.
$110/share x 64,000 shares = $7,040,000.
It makes me think of something Robert Greene once told me:
“Above all else, focus on acquiring knowledge and skills. Knowledge and skills are like gold—a currency you will transform into something more valuable than you can imagine."
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As a vendor on The Bash for 4 years, @tylervarnell has been featured in People Magazine and Sports Illustrated for his professional saxophone playing🎷
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Graduation surprise serenade! 🎷
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Congrats Kenia!! Woooo! 🙌 Thank you so much for inviting me to celebrate with you guys! #classof2020#graduationsong#saxophone @ Anaheim Califorina https://t.co/EqXb8lhhqd
I'm off the deep end...
Watch as I dive in...
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Haha I should stick to 2 hands...
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what a rad day. Cass & Alex’s elopement last spring was my first time performing for an elopement — so intimate, beautiful, and fun 👰🤵🏻 @cassidywatton @EPIC_ALEXANDER
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After… https://t.co/u1k3mC1zKh
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#loveneverfeltsogood#michaeljackson#justintimberlake
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January throwback on Ron & Rosaline’s big day! 👰🤵🎉 rosaline12
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WEDDING TEAM 🙌
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It’s been a few days, but I want to say thank you so much to everybody that came out and joined our livestream of the “first ever” 🎷 🆚 🎷 battle on Instagram live with myself and @tylervarnell. I had a blast, and I… https://t.co/adsyueTGEc
And a happy new year baby!!!! 🏋️♂️🏝🎊🎉
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PS I’M IG LIVE STREAMING TODAY 4-5PM!!! (Pacific time) — CHRISTMAS JAM FINALE OF 2018 WOOOOOOEEE!!! 🙌 #piano#livemusic#thankyou2018