Reading Reflection No. 1

Assignment 13A - Reading Reflection No. 1

1)    Reading about an entrepreneur:

I read Shoe Dog, written by Phil Knight (Buck).

a.     What surprised you the most?

Buck was incredibly creative and wanted to do something special and that made a difference but at the same time he worked 6 days a week as a qualified accountant. So he had big dreams, and took risks when it came to his business, but at the same time was lecturing on equity or working in a stable accounting firm. This is very contrasting and that surprised me.

b.     What about the entrepreneur did you most admire?

He was very shy and had nervous ticks but was able to travel overseas in order to achieve his goal. He put himself out of his comfort zone repetitively. He pushed to do things on his own such as when his friend wanted to stay in Hawaii, but he carried on. Or when he was nervous to initially talk to the Japanese shoe company, “Onitsuka,” he pushed himself to do it. When he made mistakes, he had an ability to try again and do better, such as when he read books about dealing with Japanese people and business. This made him seem intelligent in his approach and ability to learn from experiences.

c.     What about the entrepreneur did you least admire?

Buck sometimes would be in situations where he did not think, make rash decision, and would regret them, for example, sending an email to his employees about having a spy in Japan. He was also very absorbed with his work that sometimes his wife would ask him to get things and he would forget; I did not admire that he did not balance his life completely.

d.     Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

Yes, he did. He constantly had funding issues as he had to pay in advance and then sell the shoes. He also did not have enough equity for his company, and he was always borrowing money from the bank. He showed persistence with banks, but also got the accounting jobs to help fund his business and used a trading company. Also, when he had trouble with his initial suppliers, he started Nike on the side as an insurance for the future.

2)    What competencies did you notice that the entrepreneur exhibited?

Buck showed toughness, focus, and drive, from his time as an athlete as he had to run when he was sick and posted best times, he then applied these skills to his business. He also showed courage push himself out of his comfort zone to achieve his goals. He showed persistence, “Just keep going.” He also showed perseverance as when he faced challenges, he would further educate himself, acquire knowledge, or skills, to better prepare himself for the future. He was prepared to be open minded in order achieve his goals. He also showed ambition because he “wanted to leave a mark… simply did not want to lose.”

3)    Identify at least one part of the reading that was confusing to you.

One part of the reading that was confusing was that Buck often did not follow up with his staff and never really gave praise but he still had loyal and creative staff members working for him. I wondered how this approach still gained these employees.  

4)    If you were able to ask two questions to the entrepreneur, what would you ask? Why?

1.     How could you have better managed your family life and your business?

I would ask this question so that I could prepare and be aware in my own life when pursing my dreams. This would ensure that I keep balance to all areas of my life.

2.     You mention you would like to relive and share the experiences to potentially inspire, comfort, and warn people. What would be the number one thing you would warn them about?

For someone who has gone through many failures and adversities, I would like to know the number one thing that sticks out to him, the number one thing he thinks people should be aware of. This can help prepare me.

5)    For fun: what do you think the entrepreneur’s opinion was of hard work? Do you share that opinion?

He believed in persistence, and overcoming adversities. Ability to work hard and with a lot of drive, but he needed passion in his work. For him, the passion was running shoes, rather than encyclopedias. I believe this relates to me a lot as I come from the same background as I am an athlete and deal with the discipline and passion of my sport.