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Sean Allen Fenn

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It’s Not A Lie If Your Word Comes True Methods of Prosperity no. 67. Phil Knight (cont.) TL;DR Johnson had been attracting the Marlboro Man’s customers on the East Coast. Johnson had done all the ground work. No one promoted Tigers like he did. Now the Marlboro Man placed an ad in Track & Field News. Johnson and Phil devised a plan to cut him off. Phil flew to Japan to secure exclusive US distribution rights for Onitsuka shoes. He stretched the truth about having an East Coast office. This led to Blue Ribbon securing a three-year contract and ordering 5,000 shoes. Phil hired someone to take over for Johnson at the Santa Monica store. Johnson agreed to move to Boston to oversee East Coast operations. Before moving, he demanded a partnership and higher pay. Phil Knight and Bill Bowerman refused to give him equity. He settled for a small raise. In 1967, Blue Ribbon expanded further. They hired new employees and opened a second retail store. They developed the Cortez shoe, a direct competitor to Adidas...
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Return of the Marlboro Man. Methods of Prosperity newsletter no.66. Phil Knight (cont). TL;DR Phil Knight faced significant challenges in growing his shoe business, Blue Ribbon. His company lacked equity, relying on bank credit. His banker, Bob Wallace, was reluctant to extend Blue Ribbon’s credit. Wallace considered Knight too high-risk. In 1965, Knight worked his day job at Price Waterhouse. He served in the US Army Reserves. This was on top of getting Blue Ribbon off the ground. Bill Bowerman, Knight’s partner, met with their Japanese supplier, Onitsuka. Still slow to deliver, Onitsuka was unresponsive to his innovative shoe designs. Meanwhile, Jeff Johnson, another key figure, worked on marketing and customer relations. Johnson received no encouragement from Knight. Are you aware of archetypes? It’s relevant to suggest that Knight, Bowerman, and Johnson embody certain archetypes. Knight being the Commander. Bowerman as the nurturing Coach. Johnson could be the persistent, unlucky lucky...
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There’s No Business Like Shoe Business Methods of Prosperity newsletter no. 65. Phil Knight (cont.) TL;DR There was too much work for Phil Knight to do alone. He hired his sister part time. He needed more help. He’d given a pair of Tigers to an acquaintance named Jeff Johnson. They knew each other from track meets. Jeff had sold shoes for Adidas. Now he worked as a social worker. Jeff started a family and needed to earn more cash than his day job could provide. Phil offered Jeff a commission sales job to sell Tiger shoes. Enthusiastic about selling the shoes, Jeff suggested expanding the business. Phil warned him about the company’s financial struggles and negative cash flow. Jeff persisted. He became Blue Ribbon’s first full-time employee. Phil’s bank thought Blue Ribbon was growing too fast. It was a vicious cycle of debt and short supply. He needed equity. To be continued...
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Methods of Prosperity 63 Newsletter examining the methods used by historical figures to accumulate wealth. What makes you happy? That’s a trick question. This newsletter is not about happiness. It’s about how to become a billionaire. The irony is that, doing what makes you happy can make you a billionaire. For Phil Knight, the co-founder of Nike, wealth and success is a byproduct of chasing after your bliss. Nike was co-founded by Phil Knight and his track coach, Bill Bowerman, on January 25, 1964. The original name of the company was Blue Ribbon Sports. They rebranded to Nike, Inc. on May 30, 1971, named after the Greek goddess of victory. “You ask, what is our aim? I can answer in one word. It is victory. Victory at all costs. Victory in spite of terror. Victory however long and hard the road may be. For without victory, there is no survival.” – Winston Churchill
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Never Mind the Bollocks Methods of Prosperity newsletter no.55, Richard Branson and the Sex Pistols. Part 55. Sir Richard Branson (continued). To put Mike’s mind at ease, Richard offered to take him for a drive in his Bentley. They drove past the Queen Elizabeth Hall when Richard slowed down. There were Mike Oldfield posters everywhere. A crowd of people were making their way to the concert. Richard stopped the car. “Do you want to drive?” he asked. He knew Mike loved that car. “Alright,” Mike agreed. Mike drove Richard’s Bentley further. Then Richard asked, “Would you like to have this car as a present?” “A present?” Mike wondered. “Yes. I’ll get out here and keep walking. You just keep on driving and the car’s yours.” Richard gave Mike an incentive to perform live. “Come off it. It was your wedding present.” Mike hesitated. “All you have to do is then drive it around to the Queen Elizabeth Hall, and go up on stage tonight, and then it’s yours.”
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No One Warned Him About Self-Sabotage. Methods of Prosperity newsletter no.54: Sir Richard Branson (cont.) TL;DR Richard Branson dropped out of school at age 16. Back then, the headmaster of his school made a prediction. Either Richard would go to prison or become a millionaire. At age 20, the first part of that prediction came true. Richard Branson’s journey with Virgin Records took a significant turn. British customs arrested him for violating the Customs Excise Act of 1952. Branson chose to avoid further legal trouble. His mother bailed him out with £30,000, using their family home as security. To avoid a criminal record, he negotiated an out-of-court settlement. It amounted to three times Virgin's illegal profit. This incident drove him to focus on making Virgin Records successful. He reinvested earnings from the record shops to open more outlets and repay his debt and family. In 1972, Branson bought and converted a manor house. He turned it into The Manor Studio, making it the ideal recording...
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