Championing Success: Magic Johnson’s Winning Strategies

In this episode of the Business Lunch podcast, host Roland Frasier and guest Magic Johnson discuss their experiences and strategies for success in both sports and business. Magic shares his journey of wanting to play in the NBA and become a businessman, highlighting the importance of mentorship and surrounding oneself with the right team.  The conversation delves into various topics, including Magic's early investments and his approach to problem-solving. Magic explains how he found opportunities in problems and capitalized on them. The discussion touches on Magic's experiences with acquiring capital for his ventures and the challenges he faced, especially as a minority entrepreneur. He shares his journey of securing funding for projects such as building Starbucks in urban communities and emphasizes the importance of understanding and overdelivering to one's target customer base.

This episode provides valuable insights and practical strategies from Magic Johnson's successful career in both sports and business, offering inspiration and guidance to aspiring entrepreneurs.

HIGHLIGHTS "Mentors were the key to my success. But I knew from an early age I wanted to be in business."  “The best thing that happened to me was I was smart enough to befriend the owner of the Lakers, Dr. Jerry Buss. And I asked him to be my first mentor. That business lesson that he gave me really helped me to start my own business.” "I don't fall in love with nothing. I want to build it, grow it, and sell it, and say good luck to the next people."

TIMESTAMPS 00:00: Introduction 02:00: The Childhood Dream 02:43: Jerry Buss 04:28: The Challenge  05:41: Mentors  07:38: Portfolio Diversification 10:28: Exit Plan Man 12:13: Family & Business Separation 16:23: Alternative Routes 21:12: Starbucks 25:57: Takeaways

CONNECT • Ask Roland a question HERE.

RESOURCES: • 7 Steps to Scalable workbook • Get my book, Zero Down, FREE To learn more about Roland Frasier