Magic Johnson Reinvents His Brand From Basketball to Business

November 20, 2008 at 12:38 pm | In Career Development, People, Personal Branding, Positioning | 1 Comment

Branding Magic Johnson

When I think of Magic Johnson, the following words come to mind:

  • Lakers - He took the Lakers NBA team to many championships.
  • Basketball - He played basketball for most of his life.
  • HIV – While playing basketball he was diagnosed with HIV.
  • Philanthropy – He founded the The Magic Johnson Foundation.

How would you brand Magic Johnson?

Magic reinvents his brand

Before – basketball player

After winning a championship in high school and college, he was selected 1st in the 1979 NBA Draft by the Los Angeles Lakers. Johnson won a championship and a Finals MVP award in his first season, and the Lakers went on to win a total of five championships during the 1980s. Johnson retired abruptly in 1991 after announcing that he had HIV, but he returned to win the MVP of 1992 All-Star Game. He retired again for four years after protests from his fellow players, but he returned in 1996 to play 32 games for the Lakers, before retiring for the third and final time.

Johnson’s career achievements include five NBA championships, three Most Valuable Player Awards, and three Finals Most Valuable Player Awards. Johnson was honored as one of the 50 Greatest Players in NBA History in 1996, and enshrined in the Basketball Hall of Fame in 2002. He was also rated the greatest NBA point guard of all time by ESPN in 2007.

- Wikipedia

After – a businessman?

Magic owns the Johnson Development, Magic Johnson Enterprises, and the Magic Johnson Foundation. Johnson Development specializes in building projects in urban neighborhoods. He is the only franchisee of Starbucks in the country, owning a 50% share of 72 locations. Magic convinced Starbucks, T.G.I. Friday’s, and Loews theaters to locate where others feared to tread. Not only was he enriching the communities by giving them a sense of inclusion, but through Johnson Development he was cutting deals that no one else could.

Since 1992, he’s built an estimated $700 million portfolio. Even more impressive, he’s responsible for helping the world understand that America’s inner cities have $85 billion in annual spending power.

-Inc. Magazine

A recent interview with Magic

This excerpt was taken from an interview between Alan Colmes, of Fox News, and Magic yesterday.

Alan Colmes: One of the things you talk about in the book is branding and how one brands oneself. And your very personal story about when you were diagnosed HIV positive, you had to deal with branding yourself. You were a brand.

Magic Johnson: Right.

Alan Colmes: And that was something you had to overcome. How did you approach that issue?

Magic Johnson: A great, great question. What happened was a lot of the endorsements that I had, those companies dropped me, so I had to reinvent myself. I had to come back and make sure that I now built a business brand instead of a basketball brand. And so I made sure that, in my investments, that I became successful. I was very disciplined on who I would get in business with, because their brand would help my brand grow, and I would help their brand grow.

Brand Analysis

Right now, you must be asking, “how did Magic pull off that reinvention”? I don’t think he mad much of a choice. Magic couldn’t go back to being a basketball player because he had HIV and retired, so instead his passion for business (that must have been hidden at the time) came to life! Magic was clearly a businessman all along, so when he reinvented his brand, it was more of just unearthing what was already there.

It must have been challenging for him to make a name in business because people saw him as a basketball player. I think we should all consider that you learn a heck of a lot about business when you play a sport (and are paid for doing so). We all have to act like businesses now because we are one! Magic leveraged his personal brand equity in order to open enough doors, so he could gain credibility with the most successful businesspeople. If Magic was a horrible businessman, then his name wouldn’t even help him. You really need to be a strong product.

Magic explains all

Personal Brands Are More Successful in Diverse Teams

November 20, 2008 at 12:07 am | In Book Reviews, Career Development, Interview, People, Personal Branding, Success Strategies | Leave a Comment

Today, I spoke with Scott E. Page, who is a professor at Michigan and is extremely knowledgeable when it comes to diversity. For the benefit of my blog readers, I asked Scott a lot of questions on how diversity in teams is crucial to building a strong personal brand. One of the main conclusions you’ll see is that if you supplement your skills with a diverse team, you will be able to solve problems faster and smarter.

Scott, what is the real power in diversity?

I think everyone recognizes that solving hard problems and anticipating the future in a complex world requires enormous cognitive capacity. Given a cognitive task, we have two options:

  • we can hope one person has the ability to accomplish it
  • we can choose to rely on a team or a collection of people

As the task becomes harder, the team or collection becomes the better choice. Why? Diversity. Each person brings a unique set of tools, representations, and heuristics to bear on a problem. The value of diversity should be obvious: if you have cognitive diverse people, you have more tools to bring to bear. To see diversity as having pragmatic benefits much in the same way that we see ability as useful.

What are the pitfalls of having a small business, where everyone has similar skills and personalities?

Common personalities aren’t necessarily bad. They can allow people to feel comfortable and to interact easily. The problem with skill homogeneity though is crucial. If all the employees went to the same school, had the same major, belong to the same identity group, etc.. they’re likely to see the world the same way and, though that helps with communication, it means they’ll have common blind spots and get stuck on the same suboptimal solutions. Rarely will people say “I wouldn’t have thought of that.” If you’re not saying that at work, your firm isn’t diverse enough.

Why can teams of people find better solutions than individuals working independently?

A team brings multiple ways of seeing a problem. If one person gets stuck, another person can often see a path to a solution. Further, different people know different tricks, different rules of thumb. This enables diverse teams to locate better solutions and to locate them faster. There’s a ton of evidence that diverse teams produce more solutions. This stems from these differences in seeing and thinking.

Personal brands don’t scale but corporations do. Do you believe this statement to be correct? Why?

I’m not sure. It’s an interesting question and something I’ll chew on. I’ll have to ask some people with different experiences than me and see what they think. Twenty years ago, I would have agreed but now I think that Oprah has scaled.

Would you rather have someone with an enormous IQ or a diverse group of people working together? Should individuality and creativity be celebrated in the workplace?

It depends on the problem. First, I’m not a huge fan of IQ as a measure, but here’s a brief take. If the task is conjunctive — if everything has to be connected in a coherent whole — if I need someone to write a novel or to write advertising copy — I might go with the solitary genius.

If the task can be broken into parts to some extent, if solutions to one part of the problem — let’s saying making the engine more efficient — can be done independently of other parts — let’s say designing the dashboard, then give me the team any day.

——
Scott E. Page is professor of complex systems, political science and economics at the University of Michigan. He also is a senior research scientist at Michigan’s Institute for Social Research and associate director of the Center for the Study of Complex Systems.

He researches how diversity improves performance and decision making, when ‘diversity’ means what we look like on the outside, rather than what we look like within—the tools and abilities that make each of us unique. He is the author of The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies, about how we think in groups and why collective wisdom works.

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