In business, there is absolutely no substitute for intelligence. For entrepreneurs, the best way to build and brand a business is to “start with smart.†Traditionally, however, when we think about “intelligence†we think about education and experience. There is another “E†consistently missing from that equation: emotion. No matter how much education and experience you possess, if you cannot manage your emotions, your hard-earned smarts start to sound silly.
Emotional intelligence is the ability to manage yourself and your emotions, and to understand and strategically adapt to the emotions and actions of others. Read that again just so it seeps in! In my book, SKIRTS in the Boardroom, I dedicate an entire chapter to this topic, because I think it is completely under-appreciated in the marketplace–and, apparently in professional basketball.
The sports-saga that continues to unfold regarding LeBron James‘ “Miami-bound†decision and the subsequent “me-bound†response from Cleveland Cavaliers owner Dan Gilbert exemplifies this concept precisely.
Recently on ESPN Sports Center (you can see the video excerpt here) and Twitter, I shared some pretty critical views of Dan Gilbert’s response. I think it is utterly unbecoming of an owner in the National Basketball Association to attack a player’s character in the manner that he chose. I, like most people, can understand Gilbert’s disappointment at the loss of a superstar player like LeBron–possibly one of the best to ever play the game. But at the end of the day, it is just that–a game. You win some. You lose some.
LeBron enabled the city of Cleveland to win a heck of a lot more than they ever experienced in franchise history. Plus, he brought
more than wins. Over the past seven years, he attracted increased enterprise, more jobs, and philanthropic partnerships to the city like never before. Personally, I think LeBron more than fulfilled his obligation and commitment to the city, the fans, and the franchise. He was undoubtedly the free agent of free agents this year. To me, free agency is like entrepreneurship in action. The key for all entrepreneurs and business owners (Gilbert included) is to act with quality emotional management. Here are a few emotional management lessons that will help you in business and in life:– Number One: Think Long Term.
Any financial adviser will tell you the importance of diversifying your investments. Gilbert should have never placed all of his eggs in one basket. Furthermore, his remarks show the consequences of a short-sighted emotional reaction. LeBron clearly thought about the long-term implications of making an informed business decision. Short-sighted decisions almost always have a negative impact on your credibility. Rebounding from that will be an uphill battle. You will never, ever make a situation better by being bitter.
– Number Two: Make Decisions as C-E-O of Y-O-U.
Many sound business decisions still come with backlash. Sure, LeBron could have made the announcement in another way, but would it have really made a difference? More people watched the announcement than watched LeBron in the NBA Finals. Nobody had a problem with the announcement format until after they heard the results. “Operation Recruit King James†became a larger-than-life process due to the fans, not due to LeBron.
Make no mistake about it, this was and is about m-o-n-e-y. An insane amount of money and future earnings
will follow LeBron wherever he goes. Owners know it. Marketers know it. And the fans know it. We are not accustomed to seeing a professional athlete with this much power and influence–not just over the game, but over his own career.Most players are at the mercy of the owners. They are traded like commodities every single day, often discovering their fate only after the deal is done. When the owners make a decision, it’s just business. When a player makes a decision, somehow it becomes betrayal? Lebron was no longer a contracted employee of the Cleveland Cavaliers. He served his time–he gave seven years. If LeBron was as horrible as Gilbert’s letter indicated, why was Gilbert willing to pay LeBron around $125 million? Dan Gilbert might be an owner but he does not own LeBron. LeBron, a grown man, did not have to check in and get permission to leave. Independence is the hallmark of entrepreneurship. Business owners become so accustomed to managing others that they forget to manage themselves.
– Number Three: Choose Your Words Carefully
The words you serve up today might be the same ones you end up eating tomorrow. The level of indignation and incredulity that Gilbert displayed was really a master class in poor emotional management. He has hurt his city, the fans, and the franchise. What player now wants to play for an owner who fails to appreciate seven years of hard work?
The team should have been prepared for LeBron to stay or go–they should have had a public relations response plan in place. Again, that would require thinking long-term, or, let me see … thinking period! There was no thought here.
Conversely, I believe LeBron handled himself–i.e., managed his emotions–very well. His decision was best for him, his family, and his finances. He made an educated and experienced decision, not an emotionally mismanaged one.
Certainly, emotions were involved here as it was a difficult choice. He just managed them strategically. That is what emotional intelligence requires. He continues to walk carefully and quietly, which is smart. LeBron was able to rise above intense pressure and make a sound choice. Isn’t that what we all want? Real freedom comes from being able to make decisions that are responsible, yet free of the overwhelming expectations of others.
My mother, Mary Evans, has always taught me that your exit will be remembered longer than your entrance. The emotion surrounding LeBron’s decision will pass. He will be fine. His endorsements will be stronger than ever. We should be pleased to finally see a group of professional athletes take charge of their careers. For the first time, we see players directly influencing the composition of a team and proactively collaborating. Plus, we saw three superstars–Lebron James, Dwyane Wade, and Chris Bosh–each take less money than what they otherwise could easily demand in a year of free agency with uncertainty about the NBA’s collective bargaining agreement. LeBron left about $20 million on the table. While no one is crying over fewer zeros in LeBron’s check, sports fans need to see a bit of selflessness for a change.
In terms of accomplishing “black enterprise,†we are making progress. I look forward to the day when the players don’t just own their careers, they own the team. The money they make
pales in comparison to the money being made by the industry. What we have witnessed here is the beginning of a shift in power. The question is whether we will be intelligent enough to see it and harness it or become so emotional and short-sighted that we waste it.For additional branding insights and business strategy, sign-up for my free ME Unlimited® e-Newsletter featuring advice on reinvention at www.marshawnevans.com, and you can follow me on Twitter for quick tips.
Now it’s your turn to weigh in. Let’s elevate the discussion beyond the typical rhetoric. What lessons have you learned and what can we take away from this entire situation moving forward?
Related reading: Lost In Emotions? (March 2010, Black Enterprise)
Reinvention Strategistâ„¢ Marshawn Evans is a former Miss America beauty queen turned Donald Trump Apprentice, turned Georgetown University trained sports & entertainment lawyer who equips the motivated to live without limits. She is Founder of ME Unlimited, a management consulting and performance strategy firm, and author of the bestselling book, SKIRTS in the Boardroom: A Woman’s Survival Guide to Success in Business & Life. Subscribe to her free empowerment e-newsletter at www.marshawnevans.com. Connect with her on Twitter and Facebook.