An Entrepreneurial Mindset:
An Insight to the Merits of Michael Jordan
Embry Riddle Aeronautical Universtity BA 337
Jacob Meyer
Transitioning from the spotlight of professional sports to the business world can be a daunting task for many athletes. Raw athletic ability does not always translate into a well-rounded business acumen that can create an image or a brand (Badenhausen 2011). Michael Jordan, while considered the greatest basketball player of all time, has also created a worldwide brand that has taken the superstar to a household name on and off the court (Encyclopedia Britannica 2014). Many have tried to pinpoint just why Michael Jordan has transcended basketball to become one of the most liked, respected, and well known people in the business world (Badenhausen 2011). Whether it was Jordan’s career, his personality, or his shoes, nothing can compare to the mindset that Michael Jordan has which is an asset in everything that he does.
Many remember Michael Jordan for being fast, tall, and able to make the shots that no other basketball player could (Jackson 2001). These physical traits are easy to see and can be quantified in Jordan’s six NBA titles and his incredible average of 30 points per game (Jackson 2001). Many these skills did not all come natural to Jordan, however, and this is where he puts himself above his contemporaries and all players that came after him. Phil Jackson, Jordan’s coach for eight seasons at the Chicago Bulls says he marveled at the work ethic of Jordan. “I still marvel at how much Michael's enthusiasm energizes us, even at practice. I mean he never takes a day off” (Jackson 2001).
This work ethic is most apparent in Jordan’s approach to defense. Jordan was not a natural defender and his technique was not the best with footwork and balance (Jackson 2001). He dedicated himself to learning the players that he would be defending, going as far as to learn their play style and then modeling his technique in a way that could stop them (Jackson 2001). This dedication and strive for excellence is a main reason that Jordan was able to thrive in his business ventures (Encyclopedia Britannica 2014).
Another reason that Jordan was able to brand himself with Nike and other projects such as his restaurant chain was the fact that he was amiable and beloved during his playing career (Badenhausen 2011). In a Neilson poll Jordan scored a 682, scoring nearly 300 points higher than any other athlete in likability, awareness, and personality (Badenhausen 2011). Jordan was reported as being liked by over 93% of the people polled. Compare this to LeBron James, the player regarded as the best in the world currently, who only scored a 49% in the same category (Badenhausen 2011). When asked about this fact Jordan replied “Republicans buy sneakers too” (Badenhausen 2011). This foresight is another reason that Michael Jordan is a true entrepreneur.
Most recently Jordan has set his eyes back on the National Basketball Association, specifically his hometown team in North Carolina, the Charlotte Hornets (Spanberg 2015). In 2010 Jordan paid nearly $200 million for a controlling stake of the team taking him from a minority to a majority shareholder, making him the owner of the team (Spanberg 2015). While the purchasing of an established business may not seem like an entrepreneurial move to make it does prove that Jordan is always looking for ways to diversify while remaining in his market of basketball. It also shows that Jordan has a true entrepreneurial spirit that is not driven by money. He could easily retire and live off of his endorsement money from Nike, Gatorade, and many other companies which total over $60 million dollars every year (Badenhausen 2011). This shows that Jordan is driven by the fact that he can truly make a difference, his emotional intelligence and understanding of human capital is truly extraordinary (Spanberg 2015).
This point is only proven further when looking at Jordan’s extensive list of philanthropic and service projects within his community. In 1994 Jordan founded the James R. Jordan Boys and Girls Club and Family Life Center in the memory of his father who had died shortly before (Boys & Girls Club n.d.). Jordan continues to partner with the Boys and Girls Club to this day and is very involved behind the scenes (Boys & Girls Club n.d.). Most prevalent, however, is Jordan’s involvement with the Make a Wish Foundation. In 2013 Jordan granted his 200th wish for the foundation making him one of the most involved people in the organization. Jordan has also been serving as the Chief Wish Ambassador since 2008 (Make a Wish Foundation 2013). An interesting point is that almost every wish granted by Jordan has been for someone born after he retired from basketball and never saw him play (Make a Wish Foundation 2013). This shows just how transcending Michael Jordan has become and how much his brand and personality can go beyond his basketball career.
Michael Jordan has gone well beyond his basketball career in terms of success in his business ventures. His ability to brand himself and create a personable image, which is not counterfeit in any way, truly marks him as an entrepreneur and possibly one of the greats (Badenhausen 2011). His hard working attitude, drive for excellence, and belief that he can make a difference set him apart from the financially driven entrepreneurs (Jackson 2001). Jordan’s philanthropic work with the Boys and Girls Club and the Make a Wish Foundation also dispel the myth of the entrepreneurs’ dark side. Michael Jordan has created a larger than life image as the greatest of all time, and because of his mindset and drive he will continue to be for many years to come.
References
Badenhausen, K. (2011). The Business of Michael Jordan is Booming. Retrieved September 13,
2016, from http://www.forbes.com/sites/kurtbadenhausen/2011/09/22/the-business-of-
Michael-Jordan-is-booming/2/#751dc02f5364 (Badenhausen 2011)
Boys & Girls Clubs of America works hard every day to make a difference in the lives of youth
in communities all over the world. (n.d.). Retrieved September 13, 2016, from
http://www.bgca.org/whoweare/alumni/AHOF/Pages/MichaelJordan.aspx (Boys & Girls
Club n.d.)
Celebrating 200 Wishes with Michael Jordan. (2013). Make a Wish Foundation
Retrieved from http://wish.org/wishes/wish-stories/i-wish-to-meet/michael-jordan-grants-200th-wish#sm.000002lvma9eo6dj5th3l4sv4xgix (Make a Wish Foundation 2013)
Jackson, P. (2001). NBA.com: Michael Jordan Career Retrospective. Retrieved September 13,
2016, from http://www.nba.com/jordan/is_philonmj.html (Jackson 2001)
Jordan, Michael (Jeffrey). (2014). In Encyclopedia Britannica, Britannica Concise
Encyclopedia. Chicago, IL: Encyclopedia Britannica. Retrieved from
http://ezproxy.libproxy.db.erau.edu/login?url=http://search.credoreference.com/content/e
ntry/ebconcise/jordan_michael_jeffrey/0 (Encyclopedia Britannica 2014)
Spanberg, E. (2015, January 20). Michael Jordan in tears as he accepts Business Person of the
Year honors. Charlotte Business Journal. (Spanberg 2015)