Why do we not acknowledge the phenomenon of black swans until after they occur? Part of the answer, according to Taleb, is that humans are hardwired to learn specifics when they should be focused on generalities. For Nassim Nicholas Taleb, black swans underlie almost everything about our world, from the rise of religions to events in our own personal lives. The astonishing success of Google was a black swan so was 9/11. lessĪ black swan is a highly improbable event with three principal characteristics: It is unpredictable it carries a massive impact and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. Together, harnessing the transcendent power of a shared mission, and a deep belief in the spirit of sport, they built a brand that changed everything. Above all, he recalls the formative relationships with his first partners and employees, a ragtag group of misfits and seekers who became a tight-knit band of brothers. Knight details the many risks and daunting setbacks that stood between him and his dream-along with his early triumphs. At 24, after backpacking around the world, he decided to take the unconventional path, to start his own business-a business that would be dynamic, different. Now, for the first time, in a memoir that is candid, humble, gutsy, and wry, he tells his story, beginning with his crossroads moment. In an age of startups, Nike is the ne plus ultra of all startups, and the swoosh has become a revolutionary, globe-spanning icon, one of the most ubiquitous and recognizable symbols in the world today.īut Knight, the man behind the swoosh, has always remained a mystery. Today, Nike’s annual sales top $30 billion. Selling the shoes from the trunk of his lime green Plymouth Valiant, Knight grossed $8,000 his first year. In 1962, fresh out of business school, Phil Knight borrowed $50 from his father and created a company with a simple mission: import high-quality, low-cost athletic shoes from Japan. In this candid and riveting memoir, for the first time ever, Nike founder and CEO Phil Knight shares the inside story of the company’s early days as an intrepid start-up and its evolution into one of the world’s most iconic, game-changing, and profitable brands. Ries provides a scientific approach to creating and managing successful startups in a age when companies need to innovate more than ever. Rather than wasting time creating elaborate business plans, The Lean Startup offers entrepreneurs - in companies of all sizes - a way to test their vision continuously, to adapt and adjust before it's too late. It enables a company to shift directions with agility, altering plans inch by inch, minute by minute. Inspired by lessons from lean manufacturing, it relies on "validated learning," rapid scientific experimentation, as well as a number of counter-intuitive practices that shorten product development cycles, measure actual progress without resorting to vanity metrics, and learn what customers really want. The Lean Startup approach fosters companies that are both more capital efficient and that leverage human creativity more effectively. What they have in common is a mission to penetrate that fog of uncertainty to discover a successful path to a sustainable business. This is just as true for one person in a garage or a group of seasoned professionals in a Fortune 500 boardroom. The Lean Startup is a new approach being adopted across the globe, changing the way companies are built and new products are launched.Įric Ries defines a startup as an organization dedicated to creating something new under conditions of extreme uncertainty. But many of those failures are preventable.
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