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“Nike is successful now, but before success, there was defeat. We were kicked out of two banks, we borrowed money once from a shoebox manufacturer to meet the payroll, and another time, we had to sell $2500 (worth of footwear) at a national PE convention in Seattle, Washington on a Friday to meet payroll on a Monday.”
It’s always nice to hear how a successful company started off. Phil Knight explained the beginnings of Nike midway through his speech, and to hear about Nike’s struggles in its initial stages, should make you appreciate the brand that much more. You have to crawl before you walk.
