Are you sitting on a big idea but too afraid to take the leap?
In the new movie “Air,” Matt Damon and Ben Affleck act out the inspirational, entrepreneurial story of Nike signing Michael Jordan.
Jordan was not yet in the NBA and Nike was the #3 shoe company behind Converse and Adidas.
Nike’s basketball division produced so few sales for the company that it was close to being eliminated.
The division had an annual budget of $250,000, which it was splitting to get the endorsements of three NBA players. Damon’s character believed Jordan was going to be an NBA superstar. He came up with the idea to use the entire budget to sign him only. Then build a shoe especially for him. This had never been done. Endorsers wore the company’s existing shoes, the company did not sell the endorser’s shoes.
The perceived risks were money, the custom shoe and Damon's assessment of Jordan's future.
I won’t reveal the obscene amounts of money this deal earned everyone. But in retrospect, being able to sign Michael Jordan for just $250,000, a car and a custom shoe, now seems an obvious homerun. But back then, it seemed a huge risk. Especially when Jordan's mom added a huge new wrinkle at the end of negotiations. It took tremendous amounts of courage, convincing and creativity to get it done.
The biggest successes require the biggest leaps of faith.
We didn’t know a trolley tour would succeed in Cody. It’s now a top attraction. How Deep is Your Mine?
We didn’t know renting chairs at a free gunfight would work. Chairs are now an obvious homerun.
How I Turned a Folding Chair Into $315,000 $500,000
We didn’t know trailer parks would be so successful. They've since provided our early retirement. Infinite Returns
Each took a huge leap of faith but each provided a huge return.
What obvious idea are you sitting on? What looks like a huge risk today just might become an obvious winner tomorrow.
Write the business plan. Aim the shot. Air it out. Take that leap of faith.
You’re never given a swish without the ability to make it come true.
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More:
What's on the Cover of Your Life?
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