“Supply and demand is always the root problem in business. It’s been true since Phoenician traders raced to bring Rome the coveted purple dye that colored the clothing of royals and rich people; there was never enough purple to go around. It’s hard enough to invent and manufacture and market a product, but then the logistics, the mechanics, the hydraulics of getting it to the people who want it, when they want it—this is how companies die, how ulcers are born.”
— from Phil Knight, “Shoe Dog: A Memoir by the Creator of Nike”
Be sure to read this memoir by Phil Knight of Nike. It’s a great look into what it takes to create and build a world-class brand like Nike. Anyone interested in starting a business will quickly appreciate that luck, drive, grit, and determination all played a major role in the birth and growth of Nike. You’ll need all of those to build your business too. And for anyone in the fashion or consumer industry, the above quote is gold. The “HOW MUCH, WHEN, AND WHERE” is equally as important as the “WHAT”. It’s doesn’t matter how much data you read, it’s what you do with it that counts.
photo: Simon & Schuster