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Sean Allen Fenn

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There’s No Business Like Shoe Business Methods of Prosperity newsletter no. 65. Phil Knight (cont.) TL;DR There was too much work for Phil Knight to do alone. He hired his sister part time. He needed more help. He’d given a pair of Tigers to an acquaintance named Jeff Johnson. They knew each other from track meets. Jeff had sold shoes for Adidas. Now he worked as a social worker. Jeff started a family and needed to earn more cash than his day job could provide. Phil offered Jeff a commission sales job to sell Tiger shoes. Enthusiastic about selling the shoes, Jeff suggested expanding the business. Phil warned him about the company’s financial struggles and negative cash flow. Jeff persisted. He became Blue Ribbon’s first full-time employee. Phil’s bank thought Blue Ribbon was growing too fast. It was a vicious cycle of debt and short supply. He needed equity. To be continued...
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Methods of Prosperity 63 Newsletter examining the methods used by historical figures to accumulate wealth. What makes you happy? That’s a trick question. This newsletter is not about happiness. It’s about how to become a billionaire. The irony is that, doing what makes you happy can make you a billionaire. For Phil Knight, the co-founder of Nike, wealth and success is a byproduct of chasing after your bliss. Nike was co-founded by Phil Knight and his track coach, Bill Bowerman, on January 25, 1964. The original name of the company was Blue Ribbon Sports. They rebranded to Nike, Inc. on May 30, 1971, named after the Greek goddess of victory. “You ask, what is our aim? I can answer in one word. It is victory. Victory at all costs. Victory in spite of terror. Victory however long and hard the road may be. For without victory, there is no survival.” – Winston Churchill
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Never Mind the Bollocks Methods of Prosperity newsletter no.55, Richard Branson and the Sex Pistols. Part 55. Sir Richard Branson (continued). To put Mike’s mind at ease, Richard offered to take him for a drive in his Bentley. They drove past the Queen Elizabeth Hall when Richard slowed down. There were Mike Oldfield posters everywhere. A crowd of people were making their way to the concert. Richard stopped the car. “Do you want to drive?” he asked. He knew Mike loved that car. “Alright,” Mike agreed. Mike drove Richard’s Bentley further. Then Richard asked, “Would you like to have this car as a present?” “A present?” Mike wondered. “Yes. I’ll get out here and keep walking. You just keep on driving and the car’s yours.” Richard gave Mike an incentive to perform live. “Come off it. It was your wedding present.” Mike hesitated. “All you have to do is then drive it around to the Queen Elizabeth Hall, and go up on stage tonight, and then it’s yours.”
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No One Warned Him About Self-Sabotage. Methods of Prosperity newsletter no.54: Sir Richard Branson (cont.) TL;DR Richard Branson dropped out of school at age 16. Back then, the headmaster of his school made a prediction. Either Richard would go to prison or become a millionaire. At age 20, the first part of that prediction came true. Richard Branson’s journey with Virgin Records took a significant turn. British customs arrested him for violating the Customs Excise Act of 1952. Branson chose to avoid further legal trouble. His mother bailed him out with £30,000, using their family home as security. To avoid a criminal record, he negotiated an out-of-court settlement. It amounted to three times Virgin's illegal profit. This incident drove him to focus on making Virgin Records successful. He reinvested earnings from the record shops to open more outlets and repay his debt and family. In 1972, Branson bought and converted a manor house. He turned it into The Manor Studio, making it the ideal recording...
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Tax Evasion Isn’t Good Business Richard Branson Arrested. Methods of Prosperity newsletter no.53 TL;DR Virgin Mail Order faced a crisis with no way to send records or receive payments. Postal workers were on strike. To avoid running out of money in a week, Richard Branson decided to open a physical record shop. He had no experience in running one. He found a location on Oxford Street in London. The building’s owner sold shoes out of the storefront. The owner agreed to provide the upstairs space for free. The arrangement would attract customers for both businesses. Within days, Virgin’s first record store opened. It drew significant foot traffic and built a loyal customer base. By spring 1971, the shop was £15,000 overdrawn. Branson exploited a tax loophole, allowing him to avoid paying export taxes. His plan was to repay debts from the proceeds. It was a criminal plan. He thought he would get away with it. He didn’t.
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Risky? Not Really. Methods of Prosperity newsletter no. 52. Sir Richard Branson. TL;DR Sam Walton avoided flaunting his wealth. This is in sharp contrast with the flamboyant Sir Richard Branson, founder of Virgin. Branson's thrill-seeking persona is one thing. He’s less of a risk-taker than Walton in many respects. Branson, who struggled with dyslexia and math, found success by applying practical strategies. In the 1960s, he launched Student magazine. By 1970, he pivoted to Virgin Mail Order Records. Student magazine wasn’t profitable, but the mail-order business was. Branson focused on Virgin Mail Order as it flourished in 1970. By 1971 their mail-order business was almost ruined. Key Lessons: • Bad students can be great entrepreneurs. • Create something you’re proud of. • You don’t always need investors. • Get paid in advance. • Be resourceful.
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Methods of Prosperity 51 TL;DR In 1966, Sam Walton's small team was generating $10 million yearly from a few stores. But they lacked the expertise for larger operations. To address this, Walton hired Ferold Arend as VP of operations. Walmart needed better inventory and logistics systems. Walton learned about computer technology at an IBM school. This led to the adoption of IBM’s System/360 for daily sales reporting. In 1968, Sam Walton appointed Ron Mayer as VP of Finance and Distribution. Under his guidance, Walmart implemented computerized warehouses. Which made a significant enhancement to distribution and communications. Walmart went public in 1970. The IPO, though modest, paved the way for substantial growth. As of 2025, Walmart Inc. (WMT) has a market capitalization of approximately $843.91 billion. The Walton family’s estimated net worth is $432 billion as of December 2024. Today, they’re the richest family in the world. Sam Walton passed away in 1992.
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