4 Entrepreneurial Lessons You Can Learn From Michael Jordan

 

We all know and admire Michael Jordan, the basketball legend. He is arguably the best NBA player the world has ever seen. With his 5 MVP awards, 6 NBA championships, 2 Olympic gold medals, 11 All-Star nominations, and endless other worthy accomplishments; Michael Jordan is unlike any other athlete. It was at 31 that he tried his hands at professional baseball, and many were obviously skeptical, but he soon proved to be a relentless and worthy player before transitioning back to the good old basketball.

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But how well do we know Michael Jordan, the savvy businessman? Behind the trophies, the championship rings, the athletic honors, lies a Michael Jordan who knows how to invest and strike the right marketing deals. Forbes magazine has estimated his net-worth to lie somewhere beyond $1 billion; thanks to his genius marketing deals with global brands like Nike, Gatorade and Hanes bringing him more than 100 million dollars annually, as well as his part ownership in the Charlotte Hornets. Oh, and he also owns a car dealership, 7restaurants and is associated with a number of other undertakings. This basketball player knows his economics, and there’s plenty we can learn from him.

Aspire To Be Great

First of all, becoming a great legend is never a matter of coincidence. Yes, there are plenty of Hollywood stories about successful people stumbling onto greatness, but that is not always the case. Michael Jordan is the perfect example of people who aspire for greatness and grit their teeth and do whatever it may need to be done to get there. Talent or no talent, there is no greatness without hard work.

Never Give Up

Secondly, if you fall down, get right back up. Rebounding from failure is the cornerstone of success. Michael Jordan was cut from the varsity basketball team in his high school. He was told by the coaches he wasn’t really acceptable to be playing the high school basketball. Sounds hard to believe, right? But the NBA wasn’t always a success for Jordan either. Jordan has been famously quoted saying he missed whopping 9000 shots in his career, lost roughly 300 games, and missed the winning shot 26 times. And yet, he succeeded. Because he failed time and again but never gave up

Master Your Skills

Thirdly, recognize the skills needed to succeed in any industry and then hone and master them prior to turning to more complex things. Working hard with the wrong techniques is not going to get you anywhere. So, “Get the fundamentals down and the level of everything you do will rise,” Jordan warns.

Stand Up For Yourself

Lastly, stand your ground. On your journey to the top, many will strive to pull you down. You’re the one who can take a stand for yourself, so protect yourself. Value your worth, and don’t take any nonsense from anybody. Nobody said success was taking the easy route.

You might never become as successful a basketball player as Michael Jordan, or as great a businessman, but you’ll never know for sure if you never try.

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