Growth needs working capital
An expanding business can remain financially fragile, making access to working capital part of the founder’s everyday problem.

Perimeter Books / Business
Phil Knight
The Nike co-founder’s memoir of building the company.
2018 · 400 pages · Trade paperback
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7–10 hoursEstimated reading time, at 40–60 pages an hour
Scribner2018 · selected edition
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Inside the book
Phil Knight tells Nike’s origin story through the uncertainty of trying to build it. Beginning with an idea for importing Japanese running shoes, the memoir follows the relationships, financial pressures, setbacks, and improvisations behind a company that would become globally familiar. Bill Bowerman and the early employees are central to the narrative: their shared commitment to sport helps explain how a business acquired its character. The pleasure of the book is its close view of decisions made before success was assured. It gives readers material for thinking about conviction, cash constraints, partnership, and the personal costs of pursuing an idea for years.
Founders, sports and brand enthusiasts, and memoir readers interested in the uncertain human experience of building a company.
Ideas to examine
An expanding business can remain financially fragile, making access to working capital part of the founder’s everyday problem.
Shared commitment to a product and its users can unite people with very different backgrounds and temperaments.
Company culture develops through the behavior of its people, not simply through the founder’s declared intentions.
An origin story is shaped by relationships, improvisation, and narrow escapes as well as deliberate strategy.
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The ideas, in conversation
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Go back to the evidence
Look past the finished brand and examine the financing, supplier relationships, and operational choices that sustain a business.