Attention Entrepreneurs: What Does It Take to Go From Basket Ball Star to a Business Champion?

“Legendary Leaders” Series, Part 2

Gold Star Action: Dream big and work hard to make your dreams come true is not a new concept.  Magic Johnson tells you not just what you need to do, but how to do it.  What is it you really want? When people come to Startegic to re-invent themselves, we find it is a hard question for many people to answer.  How determined you are to get what you want is usually a key predictor of success or failure.  Every successful person I know works with an executive coach,  mentors or advisers.  Once your why is in place, continue to develop what you know and find the right people to help you learn what you need to grow. Part of Magic’s success can be attributed to is his winning personality.  It helps to be likable and grateful.

Magic Johnson and Judy Jernudd

Earvin “Magic” Johnson could write a book about what it takes to achieve extraordinary entrepreneurial success. In fact, the former LA Lakers superstar has done exactly that in his recent release, “32 Ways to Be a Champion in Business.” One of the “Top 50 Greatest NBA players,” wasn’t content to rest on his basketball fame and fortune laurels.  No, he wanted to become a businessman.  Correction, a successful businessman.

Impression: The first thing you notice about Mr. Johnson, beside his imposing athletic stature, is how present he is in front of the audience of a thousand at the Book Expo Convention in Los Angeles. Even before he is presenting the lessons of his business success,  he is sending a message: “I’m glad to be here.” You know two things about him within seconds. This giant of a man, quick to smile, is a “people person” and you want to like him.

Speaking Tip: Whether you are in professional services, an entrepreneur, or CEO of a Fortune 500 company, every presentation and speech counts.  None are throwaways. When you are trying to motivate your team, influence decision makers, deliver a sales presentation or simply introducing yourself, your presence is essential.

Lesson: Conveying an “I’m glad to be here” attitude sets the tone for you in a couple of ways.  Your audience becomes more comfortable with you and you start to relax.   One of the main reasons people look as though they would rather be facing a “root canal” is because they are not prepared.  Once you know what you want to say and how you want to it, you can focus on your message and relate it to the audience.

Recommended Read: Mr. Johnson quickly moved past his basketball fame and onto his entrepreneurial success story.  This post is a quick overview of some of the highlights of his speech, but do yourself a favor and read 32 Ways to be a Champion if you’re serious about becoming a successful entrepreneur or growing your business.

The Story: First, he knew how to score on the court, but knew nothing about business. Many people have great ideas, but lack the skills to develop them.  He sought out some of the brightest business people he knew to mentor him. He discovered upfront he would need a solid business plan and financial support to make his dreams a reality.  You might think his marquee name would magically open the bank’s vaults.  They took his meetings and his autograph, but kept their money.  He quickly learned about persistence in the world of business,  financing, franchises and partnering.

The second challenge he faced was the uncharted markets where he wanted to do business.  His dream was to serve the under-served urban communities.

Success: Today, as CEO of Magic Johnson Enterprises, his relationships, franchises and partners include Starbucks, Best Buy, Burger King, 24-Hour Fitness, AMC Theatres and T.C.I. Fridays serving ethically diverse urban communities.

Little Known Fact: MJE is in partnership, not a franchise, with Starbucks.  After Mr. Johnson approached Howard Schultz about a potential partnership, he invited him to visit his Magic Johnson Theater.  Mr. Schultz was impressed and the rest, as they say, is coffee brewing history.

Know your Customer: A quick story about the Starbucks in Magic Johnson’s communities. He told Mr. Schultz, “these people aren’t going to like the muzak played in most Starbucks.  And about those scones…” Yes, his Starbucks serves sweet potato pie.

Lesson: Are you giving your customers what you want them to have or want they want? If you don’t know the answer, ask them. A few years ago, we did just that.  We asked each of our clients what they wanted more of and how we could best help them and their teams succeed.

Prior to those conversations, we thought we were in the communication business; sales presentations, media training and executive presence.  The feedback: “Yes, you show us how to present ourselves, make sales and help our leaders develop executive presence but you really are helping us learn the qualities of successful people.” Wow! The feedback changed the direction of our company — while communication is its core,  our clients told us that we are in the business of developing sales stars, leadership stars, and star performers at work.  Ask your clients if you have any doubts how you can best serve them. You will be stunned by what you will learn about your abilities and your business!

Biggest Suprise: Faith at work? Magic says that he has much to be thankful for in his life and he acknowledges it at work. Before company meetings or meals he invites people to pray privately. As he says, “Faith seems to be working at MJE.”

Gold Star Action Recap: Dream big and work hard to make your dreams come true is not a new concept.  Magic Johnson tells you not just what you need to do, but how to do it.  What is it you really want? When people come to Startegic to re-invent themselves, we find it is a hard question for many people to answer.  How determined you are to get what you want is usually a key predictor of success or failure.  Every successful person I know works with an executive coach,  mentors or advisers.  Once your why is in place, continue to develop what you know and find the right people to help you learn what you need to grow. Part of Magic’s success can be attributed to is his winning personality.  It helps to be likable and grateful.

Your thoughts?

Up next- Anne Mulcahy, CEO of Xerox

Stay tuned!

Judyth

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