Here’s the Skinny…
I’ve included a graphic from today’s news. The brief article was about Mayweather being involved in the top 4 highest-grossing boxing bouts in history. But the real lesson slipped past the columnist when looking at the stats.
Yes, it’s true, Mayweather has been in the top 4 revenue bouts. But way more importantly, it is obvious that Mayweather “learned something” after his 2013 match (remember, from a business perspective, Floyd Mayweather, Jr. started Mayweather Promotions in 2007 to promote his own fights). From 1997 through 2013, top boxing match revenues increased at the rate of just over 2.5% per year. Pretty normal. Pretty mundane.
But from 2013 thru 2017, the revenues increased by over 35% per year. That’s an increase of 1,400% over the previous growth rate! Somewhere, somehow, between 2013 and 2015, a business breakthrough took place. And that breakthrough led to a crazy- sized business BREAKOUT. Whether one likes Mayweather or hates him, psycho or genius, its undeniable that he took “his business” to a level previously considered unattainable and unimaginable (like going from flat-earth to round-earth philosophically).
Breakouts (and the opportunity for breakouts) is what we want to keep our senses open to. They may work, they may not. But breakouts can only occur when a mental shift meets an opportunity. As I often say in our Discovery Days and Coaching Academies, “Luck is being in the right place at the right time. Intelligence is knowing what to do about it. Hustle is acting upon it. Generally speaking, those born in the US have a relatively equal amount of luck – but not everyone has an equal amount of intelligence or hustle.”
Notice the breakout between 2013-2015 in the growth chart below. Let your entrepreneurial wheels spin.
That’s the Skinny,
Mike Walters, CEO