Magic off the court, and yes, it is the 🏀Magic

seeong (32)in #entrepreneur • 6 years ago (edited)

Bloomberg series, Game Changer_Magic Johnson
No introduction is necessary for Magic on the court. Yes, it is him, Earvin "Magic" Johnson Jr..

But, not everyone knows about him off the court as a business man and a foundation manager to raise awareness of AIDS.

Buying a radio station with his $ 25 Million check from the Lakers contract was a mere start. He became the first active NBA player who had his own licensing deal. (he sold 150,000 t-shirts in 4 days)

However, HIV hit him. (When Magic announced his HIV positive news, it is Larry Bird who called and comforted him.) After retirement, he turned himself into a business man full time by buying $ 10 million worth Lakers share as well as forming his own company.

I thought I had to do sooner and faster because I didn`t know how much time I had

In South LA, African American community was falling apart and he thought he could bring urban dead zone back to life.
His plan was to build a multiplex that can be a community center of the city. Did things go easy? Definitely not.
Gang members, violence🚔, etc. The construction🚧 was shut down.

Magic did not back off. He confronted them and managed to resolve problems with a promise that the theater will be violence-free. Before the opening, he called Sony food buyer to make sure that he has enough hot dogs🌭 on hand.

Sony: "Look, you got ENOUGH for a month"

He sold 30 days hot dogs🌭 in ONE night🌙. His brilliance is that he knew those people and customized his theater based on demographics of the community. It became one of the top grossing theaters in the country. (He started more theaters)

That theater success was not enough for him and he jumped into the next, Starbucks.

Again, he knew that African Americans like to drink coffee☕️, like to hang out but found out that Starbucks was not in their community. What did he do? (Starbucks NEVER partnered with ANYONE, let alone places like South LA)

He checked the number of potential customers and brought Howard Schultz, the CEO of Starbucks to LA to let him see it. Magic Johnson`s Starbuck near his theater, again got Magicized. The initial deal was 10 Starbucks, soon enough, he got 30, and later, 125 Starbucks.

There are more businesses he did (fail, win) but I think now you get the point. His MAGIC is still ON.