The “grand vision” of Nike is to value its core customers and their values which have brought great success to the company. It reminds the entrepreneurs to embrace their real-selves, their key ideals, how they must lead and stand up for what they believe in.
WHAT IS NIKE?
Nike is an American multinational sportswear company founded in 1964 by Bill Bowerman. It is specifically engaged in designing, developing, manufacturing, and marketing sportswear, equipment, footwear, apparel, etc. all around the world.
NIKE STORY
Nike's story begins with an obsessed coach, Phil Knight who wanted to connect his love for running and the design he had newly acquired from his business skills. It all started when Bill Bowerman and Phil Knight co-founded Nike in 1964 and imported low-cost but high-quality running footwear from Japan to the American market.
ENTREPRENEURS SHOULD LEARN HOW NIKE IS A DIRECT-TO-CONSUMER BRAND
Every entrepreneur must pay heed to the principles Nike works on for decades.
Here are the key principles Nike firmly believes in. Nike’s success requires every entrepreneur to glean into most of them as much as he can. So, dig a little deeper and know the roots of Nike’s success.
1. BE A BOLD BRAND
Neutrality in the business world means a brand is boring. Therefore, Nike has maintained its uniqueness by preferring to be a bold brand. It won’t back down as it has pushed itself just like a competitive athlete.
2. MEDIA ATTENTION DOES NOT REALLY MATTER
Media always propagates negatively to overlap the increasing sales of an established business. Nike never did anything to grab media attention instead it always does what it wants to generate more business income.
3. DO WHAT YOUR SALES WANT AND BRING IN MORE SALES
Customers are the reason any brand can create real value in the business world. Do not value what media propagates to grab the attention and to overlap the sales. Nike does what its key ideals demand and core customers want. It does not do what the media and the news wants.
4. KNOW AND VALUE YOUR CORE CUSTOMER
The success story of Nike revolves around the secret that it values its core audience more than making bundles of dollars. It knows its loyal customers and makes decisions that can resonate with its core audience.
5. DON’T PLEASE EVERYONE. TAKE YOUR STAND!
Pleasing everyone out in the business world means pleasing no one. Nike never did this terrible mistake instead it always let people decide whether they want to stand with Nike or not. So, stop pleasing everyone and takes a stand.
6. EMBRACE YOUR CORE VALUES PROUDLY. STAND UP FOR THEM!
Nike as an established brand in the world of business is always applauded for proudly embracing its core values. So, embrace yourself and never stoop down over your core values no matter how harsh the circumstances can be.
7. BELIEVE YOUR BRAND & BE TRUE TO ITS KEY IDEALS
Nike has got worldwide fame because of how it stands out in a sea of competition while believing its own brand. Its success skyrocketed while Nike being true to its key ideals with a feeling of deep satisfaction in its own achievements.
8. INVEST IN YOUR RELATIONSHIPS MORE THAN BUSINESS
Investing in relationships more than money is the key to be successful in either the real world or the business world. Value people and stand true in your position. The people who love you and care for you as they have for Nike will stand along with you.
CONCLUSION
In short, Nike teaches every entrepreneur to stand up for what you believe in, embrace yourself, lead with your true beliefs, and differentiate yourself among the “doppelgangers” of the business world.