Captains of Industry: Magic Johnson - Part 2

Continued from yesterday's Part 1.

Magic Johnson's sense for business also stemmed from his family. When he was growing up, he was the youngest and always picked on by his brothers. Unfortunately he was also taller than his brothers so the "hand-me-down" clothes were always short on him! He also told a story about his first negotiating obstacle. Around the time he was a teenager, his mom decided that the family would change religion and become a Seventh Day Adventist. This required going to church on Saturdays. However his basketball games were always on Saturday so he would miss them. He talked to his mom about changing back to his old church which held services on Sunday. Of course his dad and brothers were in agreement because they didn't want to miss watching the games either. After a month of back and forth, his mom agreed to his terms.

I believe the main reason for his business entrepreneurship stemmed from his childhood years, growing up poor in a racially diverse town. He always wanted to help people and give them a chance to do something different with their lives. Throughout the interview, he spoke about his calling to help Urban America. After his diagnosis of HIV, he went through a depression period. His wife supported him but also helped him to snap out of his depression by kicking him out of the house (literally) and telling him not to come back home until he "became the man that she married." He always knew that business was in his blood and he also recognized that densely populated urban communities were ripe for commercial and residential development. He partnered with major brands like Starbucks (of which he's the only outside partner), 24 Hour Fitness Centers and T.G.I. Fridays to lead a major economic push in these urban communities. In his partnership with Starbucks, he talked about removing the scones from the baked goods and offering baked goods this the community would actually eat...eliminating the elevator music and playing Jazz. It wasn't the $4 cup of java that he felt that people were opposed to, but the lack of customization for the people he felt were customers in urban neighborhoods.

He also answered questions were taken from the audience. The most poignant one came from an 8 year old boy named Ian. He wanted to know if Magic preferred to be a basketball player or a businessman. The answer? A businessman because he has helped changed more people's lives. This is a man who wants no part of politics (dismissing the idea to run for mayor of Los Angeles). He also is perfectly content with his role in basketball which is part-owner of the LA Lakers. Although if asked to become the NBA Commissioner, he wouldn't say NO. But it is refreshing to listen to someone talk earnestly about his charitable work and who uses his talent to help other people in his community. Bravo!