George Foreman went from high school dropout to Olympic boxer to selling $922 million in grills. Evan Carmichael breaks down three lessons: learn to sell, get people to like you, and keep trying until something works. Foreman's comeback at 44 shows what persistence looks like.
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Hi, I'm Evan Carmichael, and welcome to another edition of Modeling the Masters. I believe that the fastest and most effective way to grow your business is to model the strategies of people who've already done what you're trying to do. So today we're going to look at how a high school dropout who was always in trouble with the law turns his life around by believing in himself. He went on to become a 2-time world boxing champion and a multi-millionaire entrepreneur. This is the story of boxing great George Foreman and the top 3 lessons that you can learn from his success.
George "Big George" Foreman is an Olympic gold medalist, 2-time former world heavyweight boxing champion, and entrepreneur. A high school dropout, as a teenager Foreman didn't know how to read or write. He took to the streets and got into trouble by picking pockets and mugging people. His sister told him, "You'll never be anything." After finding himself on the run from the police one night and digging himself into a pile of mud to avoid their dogs finding him, Foreman decided he had to change his life. He enrolled in a job skills training program for youth and began learning how to read and write. He later also learned how to box and entered into amateur competitions so he could send $50 home to his mother every month. After a year and a half of learning to box, he entered into the Olympic Games and won the gold medal. He went on to win the World Heavyweight Boxing Championship twice. After twice retiring from professional boxing, Foreman became an entrepreneur and toured the world selling George Foreman grills. In 2002 alone, the company earned $922 million from selling the grills. Foreman would go on to earn 3 times more money from the grills than throughout his entire career as a boxer. He has also moved on to selling TV shows, clothing, books, and IndyCar racing teams.
Even though nobody thought he'd ever accomplish anything in his life, George Foreman turned his life around by believing in himself and went on to become a champion boxer and entrepreneur. To help you turn your business into a success, here are 3 action items you can learn from George Foreman.
Action Item #1: Learn how to sell. If you want to be a successful entrepreneur, you need to develop the ability to sell. Selling isn't just convincing customers to buy your products or services. Selling is getting employees, media, investors, suppliers, and everyone else who's involved in your business to believe in what you're doing. It starts with a strong passion for what you're creating. If you love what you're doing and think you can really help people, it's easy to get people excited about it and draw others in. If you don't really believe in what you're doing, why should others believe in you? After Foreman came back to boxing and, at 44 years of age, became the oldest person ever to become champion, he started getting calls to endorse companies and become their spokesman. When they saw he could sell anything from food appliances to cleaning products, the companies lined up to get him to represent them. From Doritos to Kentucky Fried Chicken to McDonald's, Foreman went to work selling their products, and people listened. According to Foreman, "In time I learned the importance of selling." I love selling. If you learn to sell, it's worth more than a degree. It's worth more than the heavyweight championship of the world. It's even more important than having a million dollars in the bank. Learn to sell and you'll never starve. Action Item #2: Get people to like you. People like buying from people they like. The more you can get your customers to like you as a person, the more likely it is they're gonna buy from you. People also prefer buying from people rather than corporations. Make sure you show your clients the history and the people behind your company. Talk about how and why you started the business and the impact that you're having. The more personal you can make it, the more people are gonna like you and the more they're gonna wanna buy from you. During his early boxing career, people hated George Foreman inside and outside of the ring. He stormed into the ring with rage, didn't have much finesse to his game. He was in it for the money at the start and didn't care what other people thought of him. He even showed up to one fight against Muhammad Ali with an angry German Shepherd by his side to try to intimidate his opponent. But in order for him to be an effective salesperson, he had to change his persona and get people to like him. According to Foreman, "I'd get mad at the critics, other boxers. I wanted to destroy everybody with my fists. I figure I'm gonna make a lot of money." I didn't care about nothing else but making a lot of money. I didn't care if people liked me. I cut off all my hair and my mustache. I didn't want to be identified with the old guy. I learned to make people love me to get my message across. When I had a chance to box again, I saw boxing not as a sport the second time around, but as pure business, which meant making meetings and trying to make myself attractive to Madison Avenue. Action Item #3: Keep trying until it works. It's rare that entrepreneurs make it big off their first idea, and even if they do, the idea has changed many times from what they thought they were going to create. Failing is a part of business. The key is to get started. Too many people don't start because they're afraid of failing. You will know failure. Keep going. Fail smarter the next time, and eventually success will be yours. Foreman isn't afraid of failing in business. He's done everything from specialty shoes made for diabetics to a health food restaurant chain to a reality television series. He's willing to try almost anything if he thinks it might be a good opportunity and it's something he believes in. As long as the business is something he can feel proud of and won't damage his integrity, Foreman is willing to stretch his brain to do almost anything. You never know until you try. According to Foreman, "You've got to start out early in the morning and look at hundreds, literally hundreds of things. And it may take a year, it may take 3 or 4 years, but you're going to hit something so you have something to put on the table for your family.
You know, you put out a lot of buckshot, you're gonna strike one." So remember, learn how to sell, get people to like you, and keep trying until it works. To finish up this video, I wanted to share one of my favorite true stories about George Foreman and some of his best quotes.
With a criminal record and a reputation for being a troublemaker, few gave Foreman a chance. When he joined the U.S. Job Corps looking for a way to get off the streets, he caused so many problems that he was almost expelled from the program. His supervisor advised him to find a different outlet for his anger and suggested he take up boxing. When Foreman first started to box, he was so scared that he just closed his eyes and swung his massive fists to win the fights. It was only until he started going up against better boxers that he had to learn to fight with his eyes open.
Thank you so much for joining me for another edition of Modeling the Masters. If you like the video and want to see more, please give it a thumbs up below. I'd also love to hear what you have to think if you want to leave a comment underneath the video, and stay tuned for the next episode.
