Oct-22, B y Sagiv L. ,Swell Ventures
He was a legendary basketball player .
Innovative player who has made a profound impact on the game, his teammates and the entire basketball fans .
He knew that in order to be the best there is no magic ... you have to OVERDELIVER .... And he always did.... he always overdelivered . that's the MAGIC.
But he didn't stop on the basketball court.. he became a business man.. a very successful business man.
He identified the business opportunities in urban America and started with the Magic Johnson Theaters .
Always know your customers he would say ,,,and he knew urban areas ,,,he knew exactly who are his customers, their communities , their expectation and their needs .
Nice story that Magic likes to share happened at the opening night in his first theater . He asked
the staff how many hotdogs they have and while they thought they have enough hotdogs to cover a full month , Magic knew that it will barley cover the opening evening .. he knows his customers and he was right! he needed to drive by himself the day after to buy more hotdogs).
It's coffee time .... the Starbucks deal !
There is no way that minorities will pay 3$ for a cup of coffee.
That was the assumption of many before Magic did his magic and proved them wrong.....Again.
He convinced Starbucks CEO Howard Schulz to open stores in Urban areas and in the first store which was a pilot ,Magic was able to over deliver to customers and to the Starbucks franchise
Johnson recalled how he sealed the deal with Starbucks by inviting Howard Schulz to the opening night at one of his theaters, which was located in South Central Los Angeles.
After seeing the long lineup outside the theater and as the movie was going about 20mins in, Howard took him outside the theater and his response was that he "never had a movie-going experience quite like this”,,,,,,,,,, and he gave Magic the deal.
Schulz immediately saw the potential that Magic was trying to show him .
Not just that , the first 3 places were more successful then other Starbucks locations and from 3 locations it became more than 100.
Over the tenure of the partnership, more than 100 locations were opened in cities including Los Angeles, New York, Seattle, Chicago, Denver, Detroit, Atlanta, San Diego, San Francisco and Washington, D.C. .
Eventually Magic sold it back to Starbucks — a $405,000 investment paid off about $75 million.”
Magic had and still has, a great impact on me personally, and on millions of people around the world.
Magic is investing through a newly formed fund, more than $1 billion dollars in infrastructure improvement in the US.
He serves as Chairman and Founder of the Magic Johnson Foundation, where his commitment to transform urban America continues through HIV/AIDS awareness and educational programs.
One of his key advice to entrepreneurs, and something he follows himself was to pick a niche, something you can be good at, and won't stray. "You need to play to your strengths," he says. "My strength is urban America."
Overdeliver on your job, overdeliver on your tasks at work, overdeliver when preparing a dinner for someone. Regardless of what you do, it will strengthen your self brand, your credibility and the atmosphere around you .
So,,,,,always commit to overdeliver,,,,,,,,,,,,,It's like magic........
As Always,
See you on your next Swell Venture and don't forget ,
Every Day Is Day One !
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