Michael Jordan is definitely one of the most popular athletes of the world. He is one of the greatest basketball players all-time winning five MVP awards, 10 All-NBA First Team designations, 14 NBA All-Star Game appearances, 3 All-Star Game MVP Awards, 9 All-Defensive First Team honors, 6 NBA Finals MVP Awards, 1988 NBA Defensive Player of the Year award and many, many others.
He is also a businessman, and principal owner and chairman of the Charlotte Hornets. Jordan also starred in the 1996 feature film Space Jam as himself. In 2015, Jordan became the first billionaire NBA player in history and the world’s second-richest African-American.
Here are 10 success lessons from Michael Jordan – “Billionaire NBA Star” for entrepreneurs,
1. You must experience failure to achieve success
MJ missed more than 9,000 shots, including 26 game winners. He didn’t make his high school’s varsity basketball team the first go-around. He kept losing to the Pistons early in his career. He’s dealt with negative comments about being an owner of the Charlotte Hornets. Still, he learns (and thrives) from failure and has never once backed down from the biggest challenges.
You’ve got to embrace failure to find success. From there, success fuels more success for yourself and those around you. Once you figure out how to win, the culture of winning becomes ingrained as second nature.
2. Be loyal and take responsibility
“The game is my wife. It demands loyalty and responsibility, and it gives me back fulfillment and peace.”
Success demands loyalty and responsibility! Are you loyal to your duties, do you faithfully complete the critical tasks that are requisite to your success?
Are you consistent? To succeed, you must be loyal to your passion; you must give it your all.
What if Michael Jordan didn’t have Scottie Pippen? Jordan is arguably the greatest player of all time but he did not win six championships by himself. Jordan was blessed with a teammate and Hall of Fame player Scottie Pippen (one of the 50 Greatest Players in NBA History).
Lets not forget that Dennis Rodman (7x NBA Rebounding Champion) and Toni Kukoc (1996, NBA Sixth Man of the Year) were integral players in the second three-peat. Jordan was also coached by Phil Jackson, possibly greatest coach in NBA history.
4. Work smarter and harder than your competitors
Michael was and still is driven by the desire to be the best. But he realized from an early age that his talents alone wouldn’t carry him to the top. He had to add size, maturity, strategy, and new skills in order to take down the many other hurdles standing in his way.
Be honest with yourself and understand what your weaknesses and strengths truly are, both as an individual and a leader. Should you do the same analysis of your competitors, you’ll find that you possess many dangerous weapons that they have no defence for.
5. Get a percentage
MJ’s licensing deal with Nike for the Air Jordan earns him a fortune in large part because in effect the former NBA great gets percentage of each of his branded basketball shoes Nike sells. The original five-year deal was worth $500,000 annually, plus royalties. The royalties now generate more than $60 million annually for MJ.
6. Be passionate
“Even when I’m old and grey, I won’t be able to play it, but I’ll still love the game.”
You must have passion in order to succeed. If success is to be yours, it will be yours while you are following your passion. You won’t succeed doing something you despise, you won’t even succeed doing something that you like doing, you will succeed when you do what you love, what you’re passionate about.
7. Build an All-Star team
While he is remembered for leading the greatest team in NBA history, it took years to find the right kind of help to get him to the top. While history still sees him as “the guy,” it took years of adding the right pieces around him to build the ultimate culture and formula.
Being the smartest, most gifted person in the room only gets you so far when the odds are stacked against you. You’ve got to surround yourself with other valuable talent and role players who are willing to sacrifice individual accolades for the greater good. The opportunity to be on a team that’s going in the right direction will help you inspire and attract top talent.
8. Never give up
“If you’re trying to achieve, there will be roadblocks. I’ve had them; everybody has had them. But obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it.”
Obstacles are what prepare you for success. How can you go to the 10th grade unless you pass the 5th grade? The 5th, 6th, 7th, 8th, and 9th grades are obstacles to the 10th grade. They are there to keep you out until you’re “ready” to proceed. They are there to ensure you don’t arrive prematurely; they are there to ensure that when you arrive, you are ready. Obstacles aren’t a bad thing; they’re the training grounds to success.
9. Believe in yourself
With legends such as Larry Bird and Magic Johnson carrying the NBA torch through the 1980s and early ’90s, Michael knew exactly who was on top of NBA’s Mount Rushmore. Even before he had a single championship to his name, he knew the future was his for the taking. And once that thought was in his head, nobody was going to stop him, the haters included.
To be the best, you have to first conceptualize it. Just like you would fantasize about hitting the game-winning shot in your own driveway as a kid, it’s vital that you visualize the thrill of victory–that you see that your company can be the true leader in your industry.
10. Use social media to keep your brand relevant
MJ hasn’t been on the court since the 2002-03 season. But he has 27 million Facebook fans, and although he does not use Twitter, Nike’s Jordan Twitter account has 1.7 million followers. Jordan’s Q score, which gauges awareness and popularity, has been tops among sports fans every year since 1991. [Knowstartup]