In his classic autobiography, Shoe Dog, the great Nike co-founder Phil Knight recalled how in the company's early days, he essentially spent every dollar that wasn't “nailed down.” Knight had an expansive vision for his shoe company that extended well beyond running shoes, but sources of finance rarely shared Knight's exuberance.
As a consequence, Knight spent the first eighteen years of Nike's existence regularly worried that the next day would be the company's last. With funds always and everywhere scarce for the entrepreneur, building Nike was quite the tightrope act.
Read Full Article »