With March Madness fast approaching, it was only fitting to share my top 3 tips on how you can score 3-pointers like LeBron James in business. I know very little about basketball, but not much to go into a long detailed discussion about it. I do know that it’s a game that we’ve all grown to love, a chance to come together, and have a great time with friends and family.
With that being said businesses can also do the same thing. You can build generational wealth for your family, gain the freedom to expand your horizons, and so much more. I thought it was only fair to see how we can score three-pointers in business to be the pioneers in our industry we were called to be, and be the best in our business like LeBron James is in basketball.
Ready for my 3 tips on how you can score 3-pointers like LeBron James in your business? Let’s Go! These three tips, I believe will help you not only understand more about the industry you’re in, but will allow you to grow in the industry as well. Without further ado let’s dive in as I share with you how you can score three-pointers like LeBron James in business.
Tip #1 Make it Legal
Scoring three-pointers like LeBron James in business, means doing it the right way! You’ve got to make it legal. As simple as it might sound you’d be surprised by how many business owners start the business of their dreams, only to realize that they have nothing on paper. How much money do you think businesses lose each year by not having their business in order, legally? Don’t be that person. Make sure you have all of your paperwork in place so that you’re able to effectively run and manage your business like a boss. Remember, in order to run your business like LeBron James runs the court you have to make sure you’re doing everything the right way, and that first starts with the legal stuff.
I’m not saying that you’re going to get everything right the first time, but at least you can safe guard your business, by making sure that you have the proper paperwork needed to effectively manage, and operate your business. What business entity are you interested in having your business operate under? Make sure you have a clear understanding of the difference between an LLC, sole proprietor, and a corporation. Are you interested in starting a business because you want to make a profit? Or, is your goal more cause driven? You need to be clear early on so that you know the proper paperwork, licenses, insurance, etc. that’s needed to run your business the right way.
There’s really not much to say on this topic, it’s nonnegotiable. You either want to run your business, and be taken seriously, or you want to run your business to get some fast cash. Either way, it’s your decision, but I would strongly suggest if you want to be the best in your industry, and run and operate your business like the best in basketball, right now, you start with the basics. These are things that you can actually do on your own with a little bit of assistance and guidance from an accountant that you trust, and/or an attorney. Believe it or not, depending on the state you live in you might be able to find these services pro bono, just make sure that whatever you do, before you dive into your billion dollar dream business you have the proper paperwork filled out, completed and ready to go so that you can run your business like a Boss!
Tip #2 Build Your Team
It’s time to get to the good stuff! When building a team it’s important that you know your position, and the positions you need to take your business to the next level. In honor of March Madness let’s look at the examples that we see in basketball. We’ll soon learn, and understand that it’s not only important to have an effective team, but it’s also important to have a dynamic influential, and knowledgeable coach to lead the team.
So, let’s get into the meat and potatoes, because if you don’t have the right team you won’t be able to meet your goals, and be the LeBron James in your business. Let’s start with the obvious, a coach. If you’re starting your business from scratch, 9 times out of 10 you’ll be the coach. What does that mean? You have to be sure that you know how to lead a team, and how to work with your team in order to meet the goal in mind. If you are not interested in leading a team, be sure to have someone who can. This is crucial to the development and growth of your business, and if overlooked it could wreak havoc on your business, and the overall success of your brand.
Who’s On Your Team?
In order to be an effective coach, you have to be willing to listen, grow, and understand. You also have to be empathetic, and willing to learn and change if needed. You have to have thick skin and be able to understand the needs of your team. You can’t have an ego, or walk around barking orders at everyone. You also have to be understanding, and willing to roll your sleeves up if necessary. Being knowledgeable is also a good trait for a coach to have, but you should also allow your team to run and operate in the gifts they’re called to do for maximum results.
By doing this you allow people to be themselves, while not stifling them in the process. I love the Richard Branson approach, because he understands the importance of being a leader, while first remaining human. Understand that you’re human just like everyone else, which means you’re able to make mistakes, learn, and grow. Be willing to use those mistakes as examples to lead, and be willing to take the punch if necessary. If I had to look at the best leader/coach of all times, that actually didn’t play basketball at all, it would have to be Captain Kirk from Star Trek the original series. Yes, I’m a bit of a Treky. He is the example, I lean towards, when it comes to being a true leader, who knew how to lead his team and cared more about the people, and even the ship as a whole, more than himself.
You have to be willing to make those type of sacrifices for your team, and it has to show. Do you have what it takes to be the next Phil Jackson in your business? Someone who can take a group of powerful dynamic individuals and turn them into a basketball powerhouse? Are you a coach, and if not are you willing to learn how to become one, for the team? Be willing to take the ball, when others can’t, and at the same time be willing to pass it, if needed.
Let’s get into our team
Every affective team needs to have a point guard. The point guard is actually one of the best ball handlers on your team and is usually the person who starts the ball. If we look at that from a business point of view, you want someone who can effectively lead the team, and can run your business with you or without you. Don’t look at this as a threat, but view it as an opportunity and strength. You want someone that can work alongside you, and understand the mission and the goal at hand, while pushing your teammates to follow suit. This person should be someone who is a great team player and doesn’t have an ego.
This person should be willing to push your team, get up earlier than everyone else, have the same mission in mind, which is to win, and be willing to step down so others can step up.
What does this look like to you? Do you know someone who would be an excellent point guard for your business? If not that’s OK, we all usually start out as Solopreneurs, but I want you to ready and prepared for when it’s time to fill that position.
Up next is the shooting guard, just like the point guard they’re great with ballhandling but their main strength is, you guessed it shooting the ball. You want someone on your team that can hit the goal every time. This is your visionary on the team. Your shooting guard in business is that individual that can see the goal, and know how to strategically aim to shoot it, with minimal misses. They see the bigger picture, and they know how to effectively map it out for maximum results.
Do you have an idea but need to know how to get to the next level? Your shooting guard can help with that. Maybe you have so many distractions around you that you really need somebody that has laser focused attention on your goals, and can get you there. That’s the job of your shooting guard, the second who’ll have your business’s back.
Then we have your small forward, but there’s nothing “small” about them. A small forward is typically the most versatile position on floor. They’re able to dribble, pass, shoot, and even drive to the basket. The should also be good at defense. Actually, everybody on your team needs to be good at defense, but I digress. When you look at a small forward in business, you want someone who can roll their sleeves up and be versatile to do multiple roles within your business.
What if someone calls in sick, what you decide to go on vacation? What if someone quits on your, without giving you a two-week notice? The one thing that I’ve seen, especially with small businesses, is how they put all their eggs in one basket. It’s very important that you “cross train everyone to some extent, but as you grow you want to make sure that you have someone who is versatile, not that they have to know everything, but they should be a great replacement or filler if needed.
This is usually good for someone who gets bored easily, is able to change and adjust quickly, and someone who loves to try new things. This is also someone who is prepared to meet the goal head on, and has a lot of great ideas from a different perspective, being that they have experience in many different roles. This person doesn’t have to be the jack of all trades, but the master of none, but they do need to be versatile and get the job done!
This brings me to the next position, our power forward. A power forward is usually the person that’s under the basket, they focus more on the rebounds and attempting shots from a few feet away from the basket. I like to think of this person as your crisis prevention team.
Someone who is able to take the punch and punch back (not literally lol), and can strategically clean things up along the way.
This person needs to be great at overseeing projects, and have the ability to forecast future projects or events. Do you have someone that can be there to catch you when you fall? Do you want someone on your team who won’t judge you for your mistakes, but will deliver solutions and strategies, on how to get out of those mistakes for maximum results? If not, you might want to consider having one in the future, if you want your business to thrive.
Last but certainly not least. You’ve got your center. This person is usually the tallest player on your team, and you guessed it they’re the ones right under the basket. Essentially, this person is going to be your blocker. Blocking necessary shots that come your way, but also being the eyes and ears for your team. This person is the giant on your team, and they know how to see ahead of everyone else, which gives them advantage.
In the end you want someone who has an advantage, even over yourself, so that they can be your eyes your ears, and even your mouthpiece if necessary.
Remember your ultimate goal is to score a three-pointers like LeBron James in your business, and the best way to do this is to not only have the paperwork needed, but to have a dynamic team. Believe it or not, this actually doesn’t require a lot of people, as you can see, it only requires the right people.
Tip #3 Leave a Lasting Impression
If you want to score 3-pointers like LeBron James in business, You have to know how to leave a lasting impression. I hate to give away my age, but I remember the 3 peat team with coach Phil Jackson, called the Chicago Bulls. Why do I bring this up? Because, the long-lasting impression that was left by this team, is still unmatched (in my opinion). That’s the kind of impression you want a have, when it comes to your business. It’s not how many wins you have that counts, it’s what type of impact you have on those you’ve touched that matters.
What are other people saying about you? How do people connected, and resonate with your brand? You want to be sure you make an impact, and a lasting “good” impression on the people your called to reach. If you want to build a legacy, or help one person at a time, you need to make sure you make every minute count. Whatever your goal, or your reason for starting your business, you want to make sure you leave an imprint, whether that imprint is good or bad, it’s still one that you’ll leave.
Make sure you remember the message you’re trying to leave, and communicate that amongst your team, and audience.
Everyone wants to be the LeBron James in business, but most fail to look at the little details that it takes to get there. Remember, before LeBron James became who he is today he had the practice, he had a fall, and then he had to get back up again. That ultimately is what will make you the Boss in your business and industry.
LeBron doesn’t compete with anyone else, he only challenges himself and pushes harder the next time. Don’t compare yourself to other people in your industry, only learn from them, take notes, and move forward! Never rush to get to the prize (only fools rush in), focus on the qualities that you have to offer, and everything else will fall into place. And remember, don’t get even, Don’t Get Mad, Get Successful!
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P.S. speaking of March Madness, and basketball. Check out this amazing nonprofit my team has worked with for over 10 years, in the areas of branding, marketing, and event planning. Visit their site here