Sold on the Game Biz Tips
Baseball season offers powerful lessons for business. Whether it's the Angels investing in key players or Magic Johnson revitalizing the Dodgers, investing in the right people can transform your business. Maintaining focus and balancing personal and professional life, as seen in Frank McCourt’s downfall, is essential for success. Prioritizing and managing major investments, like Johnson's $2.15 billion acquisition of the Dodgers, demonstrates the importance of strategic planning in both sports and business.
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Baseball season is here. Whether you're a fan of the game or not, it's a very big business. There are numerous lessons to be learned not only from the way the game is played, but how they run things behind the scenes. Have you seen "Moneyball"?
Here are my top Sold on the Game BIZ TIPS:
* Invest in the right team! You do have to invest in your team even if it cost you a lot to purchase. The Angels invested a lot into Albert Pujols and CJ Wilson. The Tigers invested in Prince Fielder. Figure out who the right person is that will change the game for you and your biz.
* Focus. Frank McCourt's soap opera of a life took his eye off the prize getting him into massive amounts of debt and creating a fan base who was disgusted. To succeed, your personal life needs to be as in check as your business entities.
* Focus even more. Magic Johnson has got a lot of other business interests but he's committed to putting the time and energy into the Dodgers to get it back on track.
* Prioritize. Magic Johnson's group just paid $2.15 billion for the Dodgers. His new challenge will be how to manage the price he paid for the team and everything he needs to do to bring it back while still making it a profitable investment.
Random Baseball Facts & Figures
The Dodgers sold for a record $2.15 billion to former Lakers star Magic Johnson and longtime baseball executive Stan Kasten.
As part of the agreement, the Dodgers said McCourt and "certain affiliates of the purchasers" would acquire the land surrounding Dodger Stadium, including its parking lots, for $150 million.
Since leaving basketball, 52 year old Johnson has been very successful in business, investing in movie theaters, a production company and restaurants.