Magic johnson as a sports entrepreneur
After, he stopped playing he joined the Lakers as a coach and later decided to quite and join business by buying part of its shares. Starting partnership with the CEO of Starbucks is the biggest thrive he made and obtained favorable returns. The largest ventures, he made are related to opening of theatres in various parts of the continent, running radio stations and investing in real estate. Furthermore, this paper addresses what made Johnson to be a prosperous investor in different fields, what mounted him to be what he is today. The success of the activities of this entrepreneur is linked to the knowledge and wider consultations he could make before venturing into a new sector of interest to invest and looking for the right people to work with.
Other businesses which Magic held in his entrepreneurship 9 3. Conclusion 9 4. References 11 1. Introduction We only have few athletes who have changed the way sports are played and applied their skills to get into business, and Magic Johnson is a good example. Johnson was a great basketball player, and the future generation would have intended to see him physically playing instead of watching his videos as a player. One of the things that Johnson had and made people be part of his playing tactics was the passing skills he had, and this could help him to outweigh opponents in the field. When the opponents could expect to him to throw a pass, he could shoot and vice versa. He was born in August in 1995 and grew up Lansing, with other nine siblings.
His father worked for a motor company, while the mother worked as a custodian in a certain school. However, Earvin spend much time singing on the streets with other friends and playing basketball as juniors and could get on the basketball court early in the morning for practice. The Los Angeles Times explored how Johnson was amazing as many had though of him to be just a movie-star player, only to find out that he had an entirely fundamental skill of playing basketball (Labrecque, 20008). After extended stay out playing, Johnson came in 1981 and claimed his win again for MVP in the NBA finals. The idea of Johnson getting into business started as mere utterance that many of the reporters thought it was joke but in reality, he meant that.
Afterwards, probably Westhead lost his position as a coach, and maybe this was based on the sentiments made by Johnson in Utah. Another victory for Johnson came in 1987 when he won the Finals MVP award again. In 1998, the Starbucks had entered into a partnership to business with Johnson of 50/50 share and this joint venture was known as Urban Coffee Opportunities and was to expand the stores of Starbucks to underserved regions and thus the large market base for the business. The fundamental goal was to come to economic activities and improve the sense of belonging for the neighbourhoods. Through this deal over 100 outlets for the corporations were opened, in locations habited by the black and Latinos people (Labrecque, 20008). After 12 years, breached the contract and Johnson started his own business by the name "Magic Johnson Enterprise” while in his sports career.
In the mid-1990s, Johnson had conquered many of the challenges in the industry. Mentors Coming up from the local village of Lansing had two main business men who taught him that the Africans Americans had the power and capacity to own assets just like other colours in the continent. They gave the challenge of dreaming of becoming a businessman in future, and this steered him to start business classes at the age of 16 years from Carl Fergusen one his mentor. Carl advised Magic to have enough business before venturing into it and put much concentration as he could in basketball. Later, Carl gave him a part-time job to help understand that business had risk and emergencies. Thirst for knowledge After getting retired from the NBA, he had the anxiety to have business knowledge and wanted to know about venturing into business.
The quality and level of the Magic Johnson theatres can be well detailed through Oscar Turner who was an operating officer of a Studio and later started to run his production, does remember the work of this player in forming theatres to be one, that inspired him, the most. In 1998, many of the theatres were targeting the African-American as the primary audience, but to Magic on perspective of theatre this was different ("A Magic Johnson Theatre Era Ends", 2019). The appearance of the theatre was quite big with many screens, and quality products like carpet and the number of audiences attending were quite high. Furthermore, the staff courtesy was excellent. At this time of attending to the show, Turner was vice president of planning for paramount pictures was entirely treated with a high level of respect.
This South L. A theatre brought a lot of many people and mostly the African- Americans who worked in the near places and others had to travel from far places to be here for enjoyment on weekends and evenings. Turner after learning what had made Magic theatres to be successful said that his new invention to start a Gallery Road Production was to be based on producing quality films which were on African-American and other related communities. This was to form the multicultural nature of the many people within. Also, from the start of this theatre the perspective which the white people had changed that black people don’t watch videos. For example, if you are new in a city like New York, you can get investors from other parts like Los Angeles, Chicago and Harlem.
When Johnson agreed with the CEO of Starbucks, the 1990s he told him that his business was to spread in the urban parts of America and this was to the previous businesses related to Starbuck on various parts of the country. After the CEO visiting the various movie theatres which Johnson had started, he got convinced and made him sign the deal for the franchise. Everyday products which were offered by Johnson Menu after acquiring Starbucks included Lattes, Frappuccino’s and Pike Place and this was unique from other chains located in different parts of the continent. In this new venture, instead of having jazz music played they used to play R & B on the stereo. Conclusion Magic Johnson has been successful in his career an entrepreneur due to the skills and knowledge he acquired while growing up.
Getting the right insights to start the business and partnering with existing business to run your business helps to model your new outlets. Through mentors and advise from former CEOs and other potential investors in her business, is part of what can be attributed to his success in investing. Also, the ability to take the customers, suggestions and recommendations will result in higher sales of the product of their choice. Flexibility in customer experience is essential for a new business to prosper in the market. Cherry Lake. Magic Johnson plays for keeps in business. Retrieved from https://www. reuters. com/article/us-usa-media-magic/magic-johnson-plays-for-keeps-in- business-idUSBRE85P19K20120626 Magic Johnson: Basketball Legend, Entrepreneur, and HIV/AIDS Activist - PB. com/history/legends/profiles/magic-johnson (2019).
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