What I learned from LeBron James – Part 2

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We continue our look into what I have learned from LeBron James. His story and approach to every thing he does is interesting and we continue to delve into some of the things I have learned as we all have watched his star continue to ascend into heights almost no other athlete has reached. To be successful in anything you should understand what other successful people have done. He is no different!

Enjoy Part 2

  1. Diversify your interest and really push to understand the ins and outs of your interest

Who would have thought when LeBron James was a 17-year-old kid, that he would be a wine connoisseur, extremely successful entrepreneur (Liverpool FC, Blaze Pizza, Uninterrupted, Springhill Entertainment, etc…), and a philanthropist. None of the things that I just mentioned had anything to do with basketball.

I have read multiple articles about LeBron and most of them talk about all of the things he does that go well beyond the hardwood. The fact that he has diversified his interest will allow him to be successful well beyond the year he decides to hang up his sneakers. Being well versed in a diverse group of hobbies will allow you to be well rounded and not rely on one source for all of your motivation as well as your income.

I have read that the average millionaire has 7 income streams. This statement is a contrast to how most people operate. We tend to work as hard as we can at one job and try to generate as much income from that source as possible. LeBron realized very early that he has to have multiple streams of income because basketball will not last forever, even if you are making hundreds of millions right now. I am not saying that everyone needs to go out and immediately create 7 sources of income but I do think we should all consider if we are diversified enough to ensure long term success.

What if you lost your job today? Do you have enough stashed away to be able to sustain your current lifestyle? Most people are so reliant on the one source of income that a job loss is devastating. Honestly, I am not where I want to be but I continue to work on increasing my family’s income streams so that we can be financially free.

  1. Surround yourself with people heading in the same direction

We become like the 5 people we spend the most time with. This is a concept that most people understand too late in life. If you evaluate the group of friends that LeBron spends his time with you will see a mix of other athletes as well as other successful entrepreneurs. If you want to be great, the easiest way to start that process is to surround yourself with other great people. You will never find great people spending their time in mediocre circles.

Throughout life as you grow, mature and hopefully improve you will notice that your “friends” may change. It’s important that you really consider the word may in that last sentence. It is not a requirement for your group of friends to change, but if the group doesn’t change then your friends must change as you become more successful. I find it funny every time I hear people tell someone who has found success not to forget where they came from. People never forget where they came from, but that doesn’t mean they want to remain attached to it.

Who is in your inner circle? The age old tale of the person who came from nothing and made something out of themselves rings true across the country. They help to support all of their friends, by providing them with “jobs” and consistent income, until their money runs out. From the outside looking in, it is easy to judge and say well they should have cut those friends off. But from a livelihood perspective we do not know what sacrifices those friends made to help this person reach their success. So how should this be handled? Again, take a page out of the LeBron James’ playbook. Not only did he take his friends with him, he helped them to become entrepreneurs in their own right. His friends are all successful business owners now. The understood that yes, LeBron is the ticket, but in order to stay around we have to bring something to the table as well. What each one of them brought to the table was a willingness to perfect their own craft. This is an important lesson in the LeBron James story. He helped to build his friends up and give them a platform but he empowered them to take their own careers to the next level.

LeBron James isn’t the only successful person to do these things, but right now he is the most polarizing, so we should all take note of what is allowing him to defy the odds on and off the court.

 

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