Nike’s, co-founder Phil Knight has begun to build his dreams with a loan of only 50 dollars. Even though Nike started as a company named blue ribbon sports and had a budget of only 50 dollars, Nike became the most valuable sports brand in the world. This is the success story of Nike’s, co-founder Phil Knight the man who wasn’t afraid to turn his crazy idea into reality.

1. Phil Knight’s Idea for Nike

As a college, graduate Phil Knight felt, lost and didn’t have a clear direction of what he wanted to do with his life. He worked different jobs and tried to find himself, but it wasn’t until he enrolled at Stanford graduate school of business that he found his life purpose. His compass eventually guided him into building one of the most valuable brands in the world.

The idea for Nike was born when Phil Knight was working on one of his college assignments because he loved sports and he was a middle-distance runner in college. While writing his college paper, he came up with a business plan for making cheaper, stronger, and better quality running shoes. He teamed up with his former coach bill Bowerman and the duo began working on his idea.

2. He Started Nike With a Loan of $50 from his Father

His ambition was to import high-quality and low-cost running shoes from Japan. That’s when he discovered the tiger brand running shoes which were made by a company called Onitsuka, but because he had no money to turn this idea into reality. He asked his father for a loan of 50 dollars. Yes, Nike started with a loan of only 50 dollars so that morning in 1962 I told myself let everyone else call your idea. Crazy. Just keep going, don’t stop, don’t even think about stopping until you get there.

So they imported Japanese shoes to America and began selling them to high school students and athletes from the trunk of their cars and because they began selling more and more shoes, they even had to hire additional people, but things got hard. He faced major financial problems because the shipments from japan were almost always late. Banks were unwilling to give him the loans he needed to keep the company going, so he would beg multiple banks to give his company just one more loan.

3. Phil with Bowerman Created World’s Most Valuable Sports Brand - Nike

So, for many years his dream was on the verge of failing at the end of every month because of the problems he began to face with the Japanese company, Phil Knight and Bill Bowerman decided to form their own company and start their line of shoes. The new brand was called Nike. The name comes from the Greek goddess of victory.

He also paid 35 dollars to an art student to design what would eventually become one of the most recognizable logos in the world, the brand that started with a loan of only 50 dollars became the richest and most valuable sports brand in the world. Nike can undoubtedly call itself the biggest sportswear giant in the world after years of hard work and struggle, Phil Knight was able to turn his crazy idea into reality. "Either I will find a way or I will make one."

Nike'S Story Of Becoming A Top Sports Brand