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Air: Money lessons from a story about how Nike signed the greatest player in the world

Nike's decision to invest in Michael Jordan, despite being a distant third in the market, turned out to be one of their best decisions, leading to their eventual acquisition of Converse.

Michael Jordan's mother played a significant role in negotiating a deal with Nike that allowed him to receive a percentage of sales from his signature shoes.

Taking calculated risks and making bold decisions, such as creating a red and white shoe in violation of NBA rules, can lead to significant advertising and respect for a brand.

Building a great team and surrounding oneself with knowledgeable individuals is crucial in making the right investment decisions and taking leaps of faith.

Money cannot buy immortality; it has to be earned.

 Fame and success are not permanent, and one must constantly reinvent oneself to stay relevant and succeed.

Market corrections and failures are inevitable, but it is essential to have the will and resilience to rise again and reinvent oneself to achieve success.

Check here for more personal finance stories.

Click here to read more about the money lessons to be learnt from Air.

Michael Jordan’s mother knew his potential. Today Michael Jordan makes $400 million a year from the deal his mother helped make.

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Axis Mobile App ranks top position on NPS leaderboard

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Weekend Wrap: From Trent to Adani Power, top news and market movers this week: 27 October 2023

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Why rebalancing a portfolio provides a safety net against volatility?

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Air: Money lessons from a story about how Nike signed the greatest player in the world

Michael Jordan’s mother knew his potential. Today Michael Jordan makes $400 million a year from the deal his mother helped make.

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