Two men, from rough beginnings and with minimal chances of success find an outlet in boxing. By putting in countless hours perfecting their craft, they rise over the years to the top of their profession, one fight after another until the world wants to see them fight each other so badly is it willing to bestow upon them each a seven—figure payday, unprecedented even in the money-centric sport of boxing.
Both Floyd Mayweather and Manny Pacquiao are world-class fighters and will go down in boxing history as two of the all-time greats.
I saw two very distinctly different fighting styles. Mayweather seemed more calculating, more planned, more strategic, more thought-out, thought-through and, ultimately, more effective and successful.
His personal life seems to be a mirror of that. Or is it an extension?
What impressed me the most about Mayweather is that he has made the transition from “Specialist” to “Generalist.”
He is not just a fighter. He is more than a boxer who gets paid for fighting. He is IN THE BOXING BUSINESS.
He has his own promotions company. He knew the world would pay dearly to see him fight Pacquiao. So he waited. He marketed himself. He promoted his own event. He will make more money in the future from being in the boxing and promotions business than he ever will boxing.
The lesson is simple, but profound, and many businesses fail every year that don’t recognize this lesson. Yes, a fight was fought, but it was more than that. A business was born.
Mayweather has a license that allows him to box professionally, but he knows he can only exchange body blows for cash for so long. Over time, the body will give in or give out and what will he do for income at the point when that occurs? Hopefully, he will have enough to get him to the finish line. But he isn’t counting on that. He has already planned life after boxing.
If you have a real estate license then you also know that there will be a day you start your real estate career and a day you will stop. What will you do when you stop? If you stop, will your income stop? Will you have a business to run? What will happen when your body can no longer generate income? What will you do?
This is the transition Mayweather has made. He is a Specialist whose career is boxing. Yet, when his boxing days are over, he becomes a Generalist, a business owner whose business is the promotion of boxers.
For example, just because you are an excellent chef doesn’t mean you know how to run a restaurant. A chef is a Specialist. A restaurateur is a Generalist who knows Marketing, Sales, Production, Customer Service, Bookkeeping, Accounting, etc. They understand the business of food, not just the preparation of food.
My wife and I are educators. We teach. We also own an education company. We are in the education business.
Are you a Realtor®? Or are you in the business of real estate? Do you list property for sale or do you own a business that lists property for sale? Do you put buyers in your car? Or do you own a business that assists buyers in the home buying process? Are you a Specialist that does one thing very well, or a Generalist who runs a business that does many things well?
By having a basic understanding in many areas, a generalist can delegate tasks and oversee a much larger operation, generate greater income, and many times work less than a specialist. This principle is at the core of our philosophy and the reason we are called The Real Estate Business School.
Why? Because there is more to real estate than just obtaining a license. We are in the business of educating Realtors about how to use their license to become successful.
Look at our Real Estate Business Blueprint and see how a generalist (you) can successfully employ specialists so that you can work ON the business as an owner rather than IN the business as an employee.
It’s called The Real Estate Business Blueprint and it shows the six components of a business and the definition and goal of each component. The goal is to provide Realtors with the tools to make the transition Mayweather made…from Specialist to Generalist. To build a business that works so you don’t have to.