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4 Entrepreneurial Lessons You Can Learn From Michael Jordan

4 Entrepreneurial Lessons You Can Learn From Michael Jordan

When most people think about Michael Jordan, they consider the athlete. After all, we’re talking about the best basketball player to ever play the game. He finished his career with six NBA championships, five MVP awards, 11 All-Star nominations, two Olympic gold medals, and a long list of other worthy accomplishments. On top of that, Jordan took a shot at playing professional baseball at the age of 31. He played in 127 games for the Birmingham Barons of the Southern League before deciding to transition back to basketball. That’s not something any athlete can just decide to do. Yet, Jordan did it and never missed a beat.

But when you start to look past all the athletic accolades, championship rings, trophies, and stats, you realize that Michael Jordan is much more than a superior athlete — he’s a polarizing businessman. Forbes estimates his net worth somewhere north of $1 billion, thanks to his part ownership in the Charlotte Hornets and lucrative marketing deals that bring in more than $100 million annually from global brands like Nike, Gatorade, and Hanes. Jordan also owns seven restaurants, a car dealership, and is involved with a handful of other ventures.

The takeaway? Jordan is more than one of the greatest athletes of all time – he’s one of the savviest businessmen of the twenty-first century. As an entrepreneur, there are plenty of lessons to be gleaned from his time on and off the court. Let’s take a look at a few of those:

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1. You Must Desire to be Great

“When you are around Michael enough, you realize very quickly that his rise to the top was far from coincidental,” said Andrew Walters, one of Jordan’s former business advisers. “I observed his leadership style, his quick mind, and his pure desire to be the best.”

There’s a common misconception that successful people stumble into greatness. While it may make for a good Hollywood story, this is rarely the truth. Successful people aim for greatness and do what it takes to get there. In Jordan’s case, he’s obviously been blessed with the talent to match his desire, but it’s the latter that fuels the former.

2. You Must Rebound from Failure

It’s a worn-out story, but is worth reiterating. Did you know that Michael Jordan was actually cut from his high school varsity basketball team the first time he tried out? That’s right, the coaches told him he wasn’t good enough to play high school basketball.

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In the NBA it wasn’t all success, either.

“I’ve missed more than 9000 shots in my career,” Jordan once famously said. “I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”

People who say Jordan has it all obviously haven’t watched closely enough. There have been times when he failed, failed again, and failed some more. However, at the end of the day, he always picks himself back up and learns from his mistakes. As an entrepreneur, you’re going to fail. You’ll probably fail more than once. Do you have the courage and tenacity to get back up and succeed?

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3. You Must Get the Fundamentals Down

As an entrepreneur, you have to identify the handful of skills that you need to succeed. Those skills will look different depending on the industry you work in, but you have to recognize them and master them before focusing on more complex, bigger-picture things.

“You can practice shooting eight hours a day, but if your technique is wrong, then all you become is very good at shooting the wrong way,” Jordan warns people. “Get the fundamentals down and the level of everything you do will rise.”

4. You Must Stay on Guard

In your pursuit of success and greatness, people will try to bring you down. They may call you callous or greedy. You can’t let the noise drown you out. Sometimes you’re the only one that can protect yourself, so don’t be afraid to take a stand.

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Just recently, Jordan was forced to do so himself. After a supermarket used his name in an advertisement without his permission, Jordan decided that he couldn’t sit back and let people devalue his brand. He filed a lawsuit and was eventually awarded $8.9 million (which will ultimately be donated to local Chicago charities).

“He was compelled to send a message to the marketplace that he takes the protection of his identity seriously,” said Kevin Adler. It was a risky move that could have damaged his reputation with many, but it ultimately paid off. Jordan stood his guard and provided a lesson for entrepreneurs everywhere: Success doesn’t come by taking the easy route.

Featured photo credit: Jason H. Smith via flickr.com

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Schuyler Richardson

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Last Updated on November 5, 2019

How to Use Visual Learning to Work More Effectively

How to Use Visual Learning to Work More Effectively

Knowledge is essential to become successful in life, your career and your business. Without learning new concepts and becoming proficient in our craft, we cannot excel in our chosen careers or archive knowledge to pass down to the next generation.

But content comes in various forms, and because how we learn influences how much we know, we need to talk about learning styles. This article will focus on how to utilize visual learning to boost your career or business.

The Importance of Knowing Your Learning Style

Knowing your learning style enables you to process new information to the best of your ability. Not only does it reduce your learning curve, you’re able to communicate these same concepts to others effectively.

But it all starts when you’re able to first identify the best way you learn.

As a college student, I soon figured out that taking online courses without visual aids or having an instructor in front of me led to poor retention of concepts.

Sure, I got good grades and performed excellently in my online exams. However. I discovered that I couldn’t maintain this performance level because I forgot 80 percent of the course content by the end of the semester.

There are several types of learning styles known to mankind. To give an idea of how visual learning stacks up against other learning styles, here’s a brief mention of some of the different types of learning styles we have.

The four most popular types of learning styles are:

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  • Visual learning style (what this article talks about).
  • Aural or auditory learning style (learning by listening to information presented).
  • Verbal or linguistic learning style (learning that involves speech and writing).
  • Tactile learning style (learning by touching and doing)

But for the purposes of this article, we will be focusing on using visual learning to boost your career or business.

How to Know If You’re a Visual Learner?

When it comes to boosting your career, business (or education), a visual learner is one who would most definitely choose shapes, images, symbols, or reading over auditory messages.

I’m talking about preferring to read an actual map when navigating to a new place over listening to verbal directions. I’m talking about discovering that you actually have trouble remembering what your manager said at the meeting because there were no graphs or illustrations to support the points raised.

Most people who struggle with learning probably aren’t leveraging their best learning styles. The earlier you identify how your learning style can boost your success, the less struggle you will encounter with processing new information throughout your career.

However, visual learning in particular CAN 10x your career or business whether it is your preferred learning style or not. And here’s why:

Several studies have arrived at the conclusion that the brain retains more information with the help of visual aids. In other words, images are directly processed by our long-term memory which helps us store information for longer periods of time.[1]

While some lessons can be performed orally, several concepts can only make sense if you have an image with an explanation of sequences (i.e learning about the human DNA).

Visual learning does use a different part of the brain and visual cues are processed by the part of the brain known as the occipital lobe.

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By engaging more parts of the brain during learning, you’re able to have a fuller understanding of concepts and facilitate better interaction with your immediate environment.

How to Use Visual Learning for Success

Here’re 4 ways to use visual learning to boost your career or business:

1. Bring back the to-do list. Then add shapes and colors to boost productivity.

We live in an age where computers have taken over virtually every aspect of productivity and most human functions. But written lists are making a comeback, and with an endless number of important tasks to complete, having a to-do list of tasks in order of importance can improve your productivity.

While coming up with a list is initially challenging, adding colors and shapes to written lists that you personally write and manage gives you an extra layer of assurance and boosts aids recall so that you actually get stuff done.

I have tried this technique in my work as a registered nurse and discovered that adding shapes and colors to to-do lists helps me delegate tasks, recognize where more work is needed, and makes it easy to cross off completed tasks at the end of the day.

2. Add graphs, charts and symbols to your reports.

Yes, it seems like more work cut out for you. However, graphs enable you monitor the heartbeat of your business.

Graphs and charts help you trend your finances, budget, and pretty much any data overtime. With the help of free and premium software available on the market, it has become easier to take plain data and in a matter of seconds, have relevant information displayed in different shapes and images.

As an entrepreneur, you can make predictions and allocate funds wisely when you’re able to see whether your efforts are rewarded. You can use colors and charts to delegate actions to members of your team and track performance at the same time.

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And when broken down into monthly, quarterly, bi-annual or annual goals, graphs and charts communicate what ordinary text cannot.

3. Effectively brainstorm with mind-mapping.

Mind-mapping is not new but I don’t think it’s been talked about as often as we do to-do lists.

With mind mapping, you’re organizing information accurately and drawing relationships between concepts and pieces from a whole.

Think of a mind map as a tree with several branches. For example, the tree can symbolize healthcare while each branch stands for nursing, medicine, laboratory science, and so on. When you look at nursing, you can further branch out into types of nursing; pediatric, women’s health, critical care, and so on.

It’s an interesting relationship; the more ideas you’re able to come up with for your chosen subject, the deeper you get and the stronger the association.

Mind maps really show you relationships between subjects and topics, and simplifies processes that might seem complicated at first glance. In a way, it is like a graphical representation of facts presented in a simple, visual format.

Mind mapping isn’t only limited to career professionals; business owners can benefit from mind mapping by organizing their online learning activities and breaking down complex tasks into simple actions so that you can accurately measure productivity.

4. Add video streaming to meetings.

What if you could double the productivity of your team members by video streaming your meetings or adding flash animation to your presentation at the same time?

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When you offer video as an alternative method of processing information to colleagues, there is a greater chance of retaining information because we recreate these stories into images in our minds.

For organizations that hold virtual meetings, it can also be an effective way to enhance performance during if people can see their colleagues in addition to flash animation or whatever form of video is provided during the meeting.

Is Visual Learning Better Than Other Learning Styles?

No, that is not the point. The goal here is to supplement your existing dominant learning style with visual learning so that you can experience a significant boost in how you process and use everyday information.

You might discover that understanding scientific concepts are much easier after incorporating visual learning or that you’re able to understand your organization’s value when projected on a visual screen with charts and graphs.

The overall goal is to always be learning and to continue to leverage visual learning style in your career and business.

More About Learning Styles

Featured photo credit: Unsplash via unsplash.com

Reference

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