It's Monday so its time for a #MotivationMoment!
You'll never believe the crazy story of how one fateful decision took Michael Jordan from basketball phenom to a global brand worth over a billion dollars! This tale involves a major crossover into the world of sneakers, a risky partnership with an unlikely upstart company, and Jordan's mother playing a pivotal role behind the scenes.
When MJ was approached by this small athletic brand in 1984, he wasn't interested at first. However, his mom convinced him to take the meeting that would change the course of his career. What transpired in that conversation altered the future of sports marketing forever!
While Jordan was ready to go with the established market leader, his mother's intuition led him down a different path. The gamble that an unknown player in the shoe game took on MJ paid off big time for both parties. I'm talking BILLIONS made from the iconic shoe collaboration that kicked off in 1984!
This story shows why you should always be open to unexpected opportunities, even if it means taking a leap of faith. Had Jordan stuck with the safe choice, he may never have become the business mogul he is today.
Tune in to find out how one meeting launched the richest sponsorship deal in sports history! I won't spoil the surprise ending or spill all the business lessons I learned from MJ's journey. You'll have to listen to the full episode if you want the inside scoop on how Jordan scored big financially with some savvy moves guided by his momager. This is an inspirational tale you won't want to miss!
Host: Daymond John
Producers: Beau Dozier & Shanelle Collins; Ted Kingsbery, Chauncey Bell, & Taryn Loftus
For more info on how to take your life and business to the next level, check out DaymondJohn.com
See omnystudio.com/listener for privacy information.
Episode Transcript
What's up? This is the people. Shark haired Damon John
with another motivation moment for you courtesy of that moment
with Damon don a production of The Black Effect podcast
Network and iHeartRadio Now. In nineteen eighty four, Michael Jordan
was prepared to sign the deal with Adidas. However, his
mother made him sit with this up and coming brand
(00:26):
called Nike, and he didn't really want to sup with
the brand Niking because Adidas was the end all be
all as far as he was discerned, there was nothing
need to talk about was nineteen eighty four Nike he
gave him a deal half a million dollars a year
for five years. It's a five year deal. I'm sure
Adidas would have probably given him two million, three million,
(00:50):
four million a year. Ladida's shoes and remember they sail,
they had soccer and everything else like that, and brand
name shoes weren't necessarily big yet. I think only a
Tonic have done one or two shoes, and they really
was Nike was really just coming up. Remembering this is
nineteen eighty four, and also Nike decided to come out
(01:13):
with their own shoe for Jordan, call the Air. Jordan, well,
Nike sold one hundred and twenty six million dollars worth
of air Jordan in the first year, and according to
four Michael Jordan has roughly made about one point three
billion billion to date from that partnership. Now, why do
(01:36):
I love this fact? Could? You should take a meeting
with anybody and everybody. A lot of people don't take
meetings with the small guys or the people who they
think is called guy, the small women's scute me or
people who they don't think are worth of value. You
should entertain anybody that wants to take a meeting with you,
as long as you know that they are repidable, they're
(01:59):
good people, and they may need a shot. And think
about it. Like when I did the deal with Bomba
Socks on shar Tank, I didn't want to invest in socks.
Why because I already have a bunch of clothing companies.
I already have inventory of a massive amount of socks.
I also can't advertise on socks meeting. You can't have
(02:21):
a big splash logo out there. So how somebody said, Wow,
I like that shirt or that brand or that product.
That'll let me go and find it right. Very hard
to advertise the market but I did the deal with
the guys ended up becoming the number one brand in
shar Tank history that everybody invested in, and they symbiotically
(02:42):
taught me other things on how the market is moving today.
What else can we learn from Michael Jordan and the
deal with Nike. Listen to your mother. Always listen to
your mother. Your mother knows what's best for you. Often.
I remember bringing my mother to my first meeting, and
(03:04):
I talk about it a little bit in Powership. I
remember bringing her to my first meeting with my partners
who are now my partner for years, Norman and Bruce,
And I remember Norman later on teasing me saying, why
would you bring your mother to your meat to a meeting?
And laugh because I brought my mother to a meeting. Well,
(03:25):
why not? Just because they're your mother doesn't mean they
can't be your advisor, your mentor. There's plenty of mothers
out there who are accountants and attorneys and things of
that nature. Just because they're your mother, you don't put
people in a box. Mom is my mother as smart
as hell, and my mother was the one who helped
me negotiate the deal. And now I don't think people
(03:47):
look at it as bad as back then. How dare
you bring your mother? But never sleep on bringing your
mother your father to a meeting. They probably know way
more than you know, and they have your best interest
at heart. Tune in every single Monday and Tuesday for
new episodes. Up That Moment with Damon John brought to
you by the Blackbecks Podcast Network. Check it out wherever
(04:10):
you get your podcast
Host
Daymond John
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