In this episode, we unpack lessons from the greatest player of all-time Michael Jordan.

He is the man considered to be the greatest, if not the single greatest basketball player of all time. He has transcended the sport of basketball to build a brand that grosses over $2.5 billion dollars every year. He is not only one of the greatest professional athletes of all time but he also has strong business acumen. There are a number of lessons businesses, entrepreneurs and consultants can learn from this icon. Here are some lessons that Michael Jordan taught me.

Practice makes permanent

"Champions do not become champions when they win an event, but in the hours, weeks, and months, and years they spend preparing for it."

Practice is doing something again and again in order to become better and until it is an important part of your life. In order to win a huge victory, you will need to spend hours, weeks and months practising and preparing. Failure to practice day by day can lead to a large failure overall. Jordan practised ruthlessly: his jump shots, defensive skills, and interplay with his team. Practice, of whatever skill - speaking, leadership, technical writing or networking is important. 

Fail forward

"I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."

There is no shortage of people and entities that are successful who have failed dismally and utterly. Lebo Gunguluza, a successful entrepreneur and Dragon on SA's dragon's den has been bankrupt and once ran from creditors. He said 'I have failed so many times that failure is tired of me.' Failure is inevitable but you should always fall forward - after all, Jordan was cut twice from his high-school basketball team and is not considered the GOAT.

Master the game

"You can practice shooting eight hours a day but if your technique is wrong, then all you become is very good at shooting the wrong way. Get the fundamentals down and the level of everything you do will rise"

Effectiveness is doing the right thing; efficiency is doing things right - life and business is a game and if you do not know the rules, are doing the right things and are not doing things right then you can lose most of the time. After Jordan was cut from his high school basketball team, he went and mastered the game. He learnt all the rules and became a clinical player based on those rules. Learn to master the game.

Raise your standards

"You have competition every day because you set such high standards for yourself that you have to go out every day and live up to that."

The only thing that can change business, career, relationship and life is to raise the standards. This means having a list that are a 'must' instead of a 'should' - you always get your musts but rarely get what you should do. The difference in people is their standards - the difference between Jordan and the rest of his peers is the insane standard of winning he had. Business and people who have a standard to always be profitable, regardless of what is happening in the marketplace, tend to be profitable. Raise your standards.

Ensure Continuity

"I viewed it as a business"

Jordan was not only a great basketball player but he also ensured he understood the business side of the sport. There have been many successful sports professionals who after retirement didn't take advantage of the business side of things. Jordan, after playing for the bulls, went into management of the Washington Wizards and now has ownership of the Charlotte Bobcats. In addition, he has also built a media empire of endorsements and clothing that have made him a billionaire. Be sure to be able to transition from one phase to another phase to ensure continuity.

Winning big is due to team effort

" Talent wins games but teamwork and intelligence wins championships"

There is a lot of focus on individual effort and brilliance today. Whenever a business achieves a great feat people always ask 'who is the guy and not who is the team. Jordan is undoubtedly brilliant but he also had an intelligent and well-crafted team. Regardless of how strong the leaders is, without an effective team, championships will not be won.