He's the best basketball player I've ever seen but this is not about basketball. Think about the tremendous success he has had in business. Sports superstardom is not synonymous with success in business. Everyone knows of ultra wealthy athletes losing big money in fast food restaurants, car dealerships, etc. What can we learn from his success? I have a few ideas:
1) The power of branding. When I was a high school basketball player in the mid 80's we had to have the new "Air Jordans" from Nike. They cost about double what any other shoe on the market cost, but the whole team had them. We had to. Fast forward 20 years and I'm buying "Air Jordans" from Nike for my 8th grade daughter. Her whole team has them. They have to. THEY HAVE NEVER SEEN HIM PLAY, he's been retired for years. To them he's just another old guy, BUT THEY WANT THE SHOES. Its been more than 20 years and those shoes are still hot. Think of one other product from the 80's thats still hot today. Parachute pants? Cassette tapes? Wham? NOPE! The Jordan brand is tremendously valuable. Its logo is instantly recognizable around the world and any product with it is desirable. It seems to me that there is a lesson here. It is tremendously important to market your business with a consistent message and a consistent recognizable logo. We can all do this- I can in my real estate business, Yves can with her cabins, Russ with his B&B, etc. RK was a master of this with his "Rich Dad" series. Those purple books literally jumped off the shelf at you. One of the foundations of any franchise is consistent marketing with a consistent recognizable logo. I think alot of small business people do not think of the importance of this in their marketing. I am guilty of this. I looked online and various graphic design firms will do all the work very inexpensively.
2) The power of hard work. This one is not so fun. If you ever saw MJ play it was easy to see he wanted it more and worked harder to get it than anyone. He didn't get to the top the easy way. We won't either.
Any other ideas on what we can learn from celebrity businesspeople?
1) The power of branding. When I was a high school basketball player in the mid 80's we had to have the new "Air Jordans" from Nike. They cost about double what any other shoe on the market cost, but the whole team had them. We had to. Fast forward 20 years and I'm buying "Air Jordans" from Nike for my 8th grade daughter. Her whole team has them. They have to. THEY HAVE NEVER SEEN HIM PLAY, he's been retired for years. To them he's just another old guy, BUT THEY WANT THE SHOES. Its been more than 20 years and those shoes are still hot. Think of one other product from the 80's thats still hot today. Parachute pants? Cassette tapes? Wham? NOPE! The Jordan brand is tremendously valuable. Its logo is instantly recognizable around the world and any product with it is desirable. It seems to me that there is a lesson here. It is tremendously important to market your business with a consistent message and a consistent recognizable logo. We can all do this- I can in my real estate business, Yves can with her cabins, Russ with his B&B, etc. RK was a master of this with his "Rich Dad" series. Those purple books literally jumped off the shelf at you. One of the foundations of any franchise is consistent marketing with a consistent recognizable logo. I think alot of small business people do not think of the importance of this in their marketing. I am guilty of this. I looked online and various graphic design firms will do all the work very inexpensively.
2) The power of hard work. This one is not so fun. If you ever saw MJ play it was easy to see he wanted it more and worked harder to get it than anyone. He didn't get to the top the easy way. We won't either.
Any other ideas on what we can learn from celebrity businesspeople?
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