Advertising

4 Entrepreneurial Lessons You Can Learn From Michael Jordan

Advertising
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:

Advertising

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.

Advertising

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?

Advertising

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.

Advertising

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

Advertising

More by this author

Schuyler Richardson

Content Writer

Science Explains How First Impressions Work (And Ways To Improve If You Failed) 5 Surprisingly Simple Ways to Jump Start Your Freelance Writing Career 8 CEOs Reveal Which Daily Habits Drive Success 4 Entrepreneurial Lessons You Can Learn From Michael Jordan 7 Powerful Habits Of Insanely Creative People

Trending in Entrepreneur

1 How to Start a Side Hustle While Keeping Your Full-Time Job 2 How To Boost Employee Motivation During Difficult Times 3 7 Effective Ways To Motivate Employees in 2021 4 How To Stay Motivated As You Build Your Business 5 23 Tips for New Entrepreneurs to Get Your Business Underway

Read Next

Advertising
Advertising

Last Updated on August 25, 2021

Why Personal Branding Is Important to Your Career

Advertising
Why Personal Branding Is Important to Your Career

As a recruiter, I have met and interviewed hundreds of candidates who have no idea who they are.

Without a personal brand, candidates struggle to answer the question: “tell me about yourself—who are you?” They have no idea about who they are, what their strengths are, and how they can add value to the company. They present their CV’s believing that their CV is the key to their career success. In some ways, your CV still has its use. However, in today’s job market, you need more than a CV to stand out in a crowd.

According to Celinne Da Costa:[1]

“Personal brand is essentially your golden ticket to networking with the right people, getting hired for a dream job, or building an influential business.” She believes that “a strong personal brand allows you to stand out in an oversaturated marketplace by exposing desired audiences to your vision, skillset, and personality in a way that is strategically aligned with your career goals.”

A personal brand opens up your world to so many more career opportunities that you would never have been exposed to with just your CV.

What Is Your Personal Brand?

“Personal branding is how you distinctively market your uniqueness.” —Bernard Kelvin Clive

Today, the job market is very competitive and tough. Having a great CV will only let you go so far because everyone has a CV, but no one else has your distinct personal brand! It is your personal brand that differentiates you from everyone else and that is what people buy—you.

Your personal brand is your mark on the world. It is how people you interact with and the world see you. It is your legacy—it is more important than a business brand because your personal brand lasts forever.

Advertising

I have coached people who have very successful careers, and they come to me because they have suddenly found that they are not getting the opportunities or having the conversations that would them to their next role. They are having what I call a “career meltdown,” all because they have no personal brand.

A personal brand helps you become conscious of your differences and your uniqueness. It allows you to position yourself in a way that makes you stand out from the pack, especially among other potential job applicants.

Don’t get me wrong, having a great CV and a great LinkedIn profile is important. However, there are a few steps that you have to take to have a CV and LinkedIn profile that is aligned to who you are, the value you offer to the market, and the personal guarantee that you deliver results.

Building your personal brand is about strategically, creatively, and professionally presenting what makes you, you. Knowing who you are and the value you bring to the table enables you to be more informed, agile, and adaptable to the changing dynamic world of work. This is how you can avoid having a series of career meltdowns.

Your Personal Brand Is Essential for Your Career Success

In her article, Why Personal Branding Is More Important Than Ever, Caroline Castrillon outlines key reasons why a personal brand is essential for career success.

According to Castrillon,[2]

“One reason is that it is more popular for recruiters to use social media during the interview process. According to a 2018 CareerBuilder survey, 70% of employers use social media to screen candidates during the hiring process, and 43% of employers use social media to check on current employees.”

The first thing I do as a recruiter when I want to check out a candidate or coaching client is to look them up on LinkedIn or other social media platforms, such as Facebook, Instagram, and Twitter. Your digital footprint is the window that highlights to the world who you are. When you have no control over how you want to be seen, you are making a big mistake because you are leaving it up to someone else to make a judgment for you as to who you are.

Advertising

As Jeff Bezos, the founder of Amazon, once said, “Your brand is what people say about you when you are not in the room.”

In her book, Becoming, Michelle Obama writes about the importance of having a personal brand and her journey to defining her personal brand. She wrote that:

“if you don’t get out there and define yourself, you’ll be quickly and inaccurately defined by others.”

When you have a personal brand, you are in control. You know exactly what people will say about you when you leave the room.

The magic of a personal brand is that gives you control over how you want to be seen in the world. Your confidence and self-belief enable you to leverage opportunities and make informed decisions about your career and your future. You no longer experience the frustrations of a career meltdown or being at a crossroads not knowing what to do next with your career or your life. With a personal brand, you have focus, clarity, and a strategy to move forward toward future success.

Creating your personal brand does not happen overnight. It takes a lot of work and self-reflection. You will be expected to step outside of your comfort zone not once, but many times.

The good news is that the more time you spend outside of your comfort zone, the more you will like being there. Being outside of your comfort zone is where you can test the viability of and fine-tune your personal brand.

5 Key Steps to Creating Your Personal Brand

These five steps will help you create a personal brand that will deliver you the results you desire with your career and in life.

Advertising

1. Set Your Personal Goals

What is it that you want to do in the next five years? What will your future self be doing in the next five to ten years? What is important to you? If you can answer these questions, then you are on the right path. If not, then you have to start thinking about them.

2. Create Your Unique Value Proposition

Create your unique value proposition by asking yourself these four questions:

  1. What are your personality features? What benefit do you offer people?
  2. Who are you and why do people enjoy working with you?
  3. What do you do and what do people want you to do for them? How do you solve their problems?
  4. What makes you different from others like you?

The answers to these questions will give you the information you need to create your professional story, which is the key step to creating your personal brand.

3. Write Your Professional Story

Knowing who you are, what you want, and the unique value you offer is essential to you creating your professional story. People remember stories. Your personal story incorporates your value proposition and tells people who you are and what makes you unique. This is what people will remember about you.

4. Determine Which Platforms Will Support Your Personal Brand

Decide which social media accounts and online platforms will best represent your brand and allow you to share your voice. In a professional capacity, having a LinkedIn profile and a CV that reflects your brand is key to your positioning in relation to role opportunities. People will be connecting with you because they will like the story you are telling.

5. Become Recognized for Sharing Your Knowledge and Expertise

A great way for you to promote yourself is by sharing knowledge and helping others. This is where you prove you know your stuff and you gain exposure for doing so. You can do this through social media, writing, commenting, video, joining professional groups, networking, etc. Find your own style and uniqueness and use it to attract clients, the opportunities, or the jobs you desire.

The importance of having a personal brand is not going to go away. In fact, it is the only way where you can stand out and be unique in a complex changing world of work. If you don’t have a personal brand, someone will do it for you. If you let this happen, you have no control and you may not like the story they create.

Standing out from others takes time and investment. Most people cannot make the change by themselves, and this is where engaging a personal brand coach is a viable option to consider.

Advertising

As a personal brand coach, working with my clients to create their personal brand is my passion. I love the fact that we can work together to create a personal story that defines exactly what people will say when you leave the room.

Other People’s Stories

Listening to other people’s stories is a great way to learn. In his article, 7 TED Talks About Personal Branding, Rafael Dos Santos presents the best Ted Talks where speakers share their stories about the “why,” “what,” and “how” of personal branding.((GuidedPR: 7 TED Talks About Personal Branding))

Take some time out to listen to these speakers sharing their stories and thoughts about personal branding. You will definitely learn so much about how you can start your journey of defining yourself and taking control of your professional and personal life.

Your personal brand, without a doubt, is your secret weapon to your career success. As Michelle Obama said,

“your story is what you have, what you will always have. It is something to own.”

So, go own your story. Go on the journey to create your personal brand that defines who you are, highlights your uniqueness, and the value you offer to the world.

Featured photo credit: Austin Distel via unsplash.com

Reference

Read Next