The Michael Phelps Guide to Business

by Neil Patel on August 7, 2008

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Michael Phelps Olympics

As many of you already know, the Olympics is going to start tomorrow. But before it starts, here are a few things to learn from the Olympians.

  1. Be dedicated and passionate – if you don’t love what you are doing, there will not be much to keep you going. Not everything in life is simple, so make sure you are passionate and dedicated about whatever you are currently doing. If you aren’t you may want to consider a new career path.
  2. Keep your goals in mind – some things could take years before they are obtained, so make sure whatever you are doing now helps you get one step closer to your goal.
  3. Learn to be a team player – not everything can be achieved on your own, so learn to be a team player. You will be able to accomplish a lot and be more efficient if you learn to work with others.
  4. Cheaters never prosper – in the short term you may come ahead by cheating, but in the long run, it will come back and haunt you. Just look at some of the Olympians who took steroids and got their medals taken away from them.
  5. It’s not done till it’s done – just because you are at the head of the pack before the finish line, it doesn’t mean that you will stay ahead. Keep chugging away at full speed because the person behind you is always looking to take you out.
  6. Milk it while you can – fame and glory never lasts forever, so once you succeed make sure you milk it while you can. Leverage any opportunities that come your way because you may not get anymore.
  7. Have a backup plan – dreams don’t always come true, so have a backup. This could mean getting a college education or building a strong network incase you need to get a new job.
  8. Have goals after your career is over - your career will come to an end sooner or later, so create some goals for your “retirement”. They don’t have to be financial goals, but ones that keep you going and entertained.

Anyone else have tips on what to lookout for during the Olympics?

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72 Comments »

Sam Mckenzy Says:  
2008-08-07 16:01:30

how about the whole concept of world unity. amidst allegations of doping and corruption, we lose sight of the fact that the olympics should be about the world’s best coming together to compete.

go U.S.A

Neil Patel Says:  
2008-08-07 16:03:01

Good concept. One thing that comes to mind from your comment is being the “worlds best”. In whatever you are doing, try and be the best.

 
 
Joseph Pak Says:  
2008-08-07 16:02:11

Very nice post. However, I don’t believe that the “Milk it while you can” belongs in this list. Most of them seem positive virtues while that one seems a bit shady.

Neil Patel Says:  
2008-08-07 16:04:33

I get what you are saying, but I think that is one of the most important items on the list. Not sure how I could word it to be a bit more positive and less shady.

Greg Says:  
2008-08-10 14:18:15

“Milking it” sounds very self-centered and selfish. A better way of saying this is simply to take advantage of situations when they present themselves, because you will have more great opportunities while you’re in a good position and well known. You won’t have the same opportunities once you’ve fallen out of the spotlight, and you’ll be sorry you didn’t take them.

Neil Patel Says:  
2008-08-12 15:07:39

I like how you put it. I think that is a good mix between what Joseph and I were trying to say.

Thanks!

 
 
 
 
esotericsean Says:  
2008-08-07 16:06:44

Great list! When do the Olympics start, anyway?

Neil Patel Says:  
2008-08-07 16:08:35

I am not sure on the US time, but 8pm China standard time. http://wiki.answers.com/Q/What_time_does_the_Beijing_Olympics_start

 
 
Deep Patel Says:  
2008-08-08 16:23:33

A great man named Jimmy H. Woo once said, ““You can take my life but not my confidence.” which I suppose is an interesting aspect to look for in the Olympics . If you are confident in your abilities and more importantly believe in yourself, anything is possible. There will always be naysayers and bystanders who will give you a million reasons why you won’t succeed and many with little confidence in themselves get discouraged and drop out of the race even before it has begun.

Neil Patel Says:  
2008-08-12 15:03:53

And in the spirit of not listening to naysayers: http://www.quicksprout.com/2008/02/12/stop-listening-to-me/

 
 
Ruchit Surati Says:  
2008-08-10 11:30:23

Hi Neil,

You are absoltely right in this post. You have to be commited towards your goals and always have zeal to do it with best of your abilities. Whatever you do you have to give your best shot.

Neil Patel Says:  
2008-08-12 15:05:51

Yep, which is why I hate it when people “half-ass” things. If you are going to do something, then do it right.

 
 
2008-08-12 10:42:29

It’s amazing how simple these steps are yet so easy to get sidetracked and forget all about them.

Neil Patel Says:  
2008-08-12 15:12:42

It is the simple stuff that many of us forget and need to be reminded of.

 
 
2008-08-12 11:00:30

After thinking about it a little more. I wonder if it’s important to mention to people not to take things too seriously.

You can get so caught up in your business and sports that everything else, like family falls to the wayside.

“Don’t sweat the small stuff, and it’s all small stuff”

Neil Patel Says:  
2008-08-12 15:19:11

Nice addition. I see too many people taking business too seriously, which has caused them to put their families on the sidelines. I personally am not married and don’t have any kids, but I fear that I may become one of those people.

Hopefully I don’t.

Deep Patel Says:  
2008-08-12 15:31:47

Neil,

nice self-fulfilling prophecy. Family is important, and when its time to raise a family you have to redirect your passion for business to your own family which is a difficult balancing act, I think a lot of people don’t know what they are getting themselves into when they start a family I suppose

Neil Patel Says:  
2008-08-12 18:13:15

Yea, I am definitely not looking to have one anytime soon. I am too young and need to focus on building an empire. (or at least try to)

 
 
 
 
SEO Florida Says:  
2008-08-12 21:56:40

He has completed the milestones for what he is looking for before these olympics,
Now he is looking one more medal to become highest individual Gold medal winners.

Neil Patel Says:  
2008-08-13 07:51:46

Wow, I did not know that about him. The funny thing is, I have been watching a few swimming contests during the Olympics, but I never seem to see Michael Phelps.

SEO Florida Says:  
2008-08-13 21:17:47

Now he is with 11 Golds and Golden Olympian of the Games. His target must be getting 8 Golds, wish he will complete it. No one gonna break that record.

 
 
 
Jay Tillery Says:  
2008-08-13 10:23:04

This is off topc, but I told my wife that the Olympics should be the way we handle world issues, like that whole Russia/Georgia war. Don’t kill people, make them lift weights until someone buckles. The winner is granted whatever they are asking for. Just wishful thinking.

Deep Patel Says:  
2008-08-13 10:39:45

Jay,

Interesting Idea, but its more profitable and enjoyable for the rulers of our world to see blood and gore unfortunately.

Neil Patel Says:  
2008-08-13 10:57:14

Jay, I like your idea. I personally am not a fan of war.

Deep, I would agree that it is more interesting for “some” people, but I am not sure if it is profitable. Some of these fighting sports do well now, but they always didn’t do well.

Deep Patel Says:  
2008-08-13 11:02:37

Neil,

Sure its profitable, not for the “mere mortals” like you and I, who run honest businesses. Its profitable for the people who get the contracts for the money that the US is spending on the war, for example blackwater, halliburton, defense companies…etc Also its profitable for the bankers who finance both sides of the war and for the arms companies that sell weapons to the US and Iraq insurgents alike.

 
Jay Tillery Says:  
2008-08-13 11:22:52

War = Profits. That’s for sure.

 
Jay Tillery Says:  
2008-08-13 11:25:10

I’m glad you guys like my idea. ;) I have LOADS of them. Wanna hear them? ;) jk

 
Neil Patel Says:  
2008-08-13 11:39:57

Thanks for the insights Deep. Never thought about war profits from that perspective.

 
 
 
 
Jay Tillery Says:  
2008-08-13 10:44:37

You are right! Okay, so host a huge Mixed Martial Arts event and have two of your countries best men go at it for 5 minutes/5 rounds, fist, elbows, feet and knees only. It works for entertainment in the USA along with a handful of other countries.

Neil Patel Says:  
2008-08-13 11:00:08

MMA is very entertaining for some people, but I personally am not a fan of it. Many of the Olympic events such as swimming are more entertaining for me than MMA.

Jay Tillery Says:  
2008-08-13 11:28:42

Well in that case, if my idea was put into plan post 9/11 it would have been settled already. Especially with a guy like Phelps on our swim team. :)

 
 
 
Lily Says:  
2008-08-14 18:52:48

I came across this pic of an 8-yr old Michael Phelps. He’s come a looooong way! http://www.tmz.com/2008/08/14/phelps-before-the-medals-muscles-and-dui/

Neil Patel Says:  
2008-08-15 20:03:27

Damn, he has come a long way. He must have started swimming since he was a baby.

Jay Tillery Says:  
2008-08-15 20:10:15

“He must have started swimming since he was a baby.”

Haaaa! Good one Neil. That almost got by me. Way subliminal.

Neil Patel Says:  
2008-08-15 20:12:32

I just had an idea, one thing you could do with your baby girl is have her get good at something really young. For example if she is into gymnastics at the age of 2, there is probably a good chance she will do really well in it and make a career out of it. Plus she will build a well known brand at the same time. ;)

 
Jay Tillery Says:  
2008-08-15 20:18:32

I have a 6 year old daughter that started navigating the internet at 1 1/2. She use to sleep on my shoulder while I programmed websites. Maybe I should start marketing her already. :)

 
Neil Patel Says:  
2008-08-15 20:22:19

I think you should. She already has potential and probably would do very well working for a .com company in the future. Or better yet, she can start her own .com company and we can both work for her.

 
Jay Tillery Says:  
2008-08-15 20:28:03

She use to call link clicking, pressing the play button. Does that make sense?

 
Neil Patel Says:  
2008-08-15 20:31:51

It makes sense, just think of the play button as a link. All you have to do now is get her to “link clicking” ads.

 
 
 
 
R. Patel Says:  
2008-08-14 20:24:49

I like the one where you should have a backup plan. It’s always good to have a Plan B and sometimes even a Plan C in place in case something doesn’t go according to plan.

Neil Patel Says:  
2008-08-15 20:04:54

The trick with back up plans is not to just have a few, but also have a realistic options. If you have tons of non-realistic backup plans, none will end up working out.

 
 
BlogSavvy Says:  
2008-08-15 11:04:11

Neil, Great post, taking Phelps mindset and giving it a business spin, classic, it is exactly what he does, as you’ve probably seen he get business DONE! Great Post.

Neil Patel Says:  
2008-08-15 20:06:37

Thanks! Just wait till the Olympics are over and you will see him all over TV again. He will get the ad deals and he will continue to leverage his name. But just like last year, it probably will not last longer than a few months.

BlogSavvy Says:  
2008-08-15 20:11:49

It will be interesting to see how long he can prolong his Celebrity status, The guy truly has done great things, but it is pretty difficult to translate that into “what” for the long term, as you said he will do very well for the near future? Willing to bet on it?

Neil Patel Says:  
2008-08-15 20:17:30

It just depends what the bet is. ;)

With most sports like professional basketball it is on TV yearly. So if you are really good at the game, then you will get ad deals on and other gigs for the long haul. With the Michael Phelps he is known for being an Olympic swimmer, which only takes place 4 times a year. Due to this a year from now you will not hear much about him unless he does something dumb such as getting a DUI.

 
BlogSavvy Says:  
2008-08-15 20:26:06

Point taken. It will be amazing to see, as I would consider him a great hero, inspiration, an American icon, yet his fame will probably only last until Britney Spears shows up some where without panties, or Lindsay Lohan is caught kissing a girl, all trivial, but that is what America wants, gossip, they don’t want true skill or ability, i mean did you see Herbie? It was terrible. And Britney, well who cares.

 
Deep Patel Says:  
2008-08-15 20:31:33

BloggSavvy,

I am sure he’ll manage his brand well, In fact at the University of Michigan Phelps studied sports marketing and management, so assuming he learned something in class and applies it, he might have a good chance to leverage his brand.

 
Neil Patel Says:  
2008-08-15 20:35:47

Yea, he is a smart guy. I think he knows what he is doing based on the last Olympics.

As for the general public, you are right. We are looking for what Britney does next or what Lindsay is doing. Not sure if that is a good thing, but it seems we love celebrities. For example I even knew Herbie Fully Loaded was going to be a shitty movie, but watched it because Lindsey was in it.

By the way, did Lindsay really kiss another chick? (going search Google for a pic)

 
Lily Says:  
2008-08-21 06:01:13

Neil, Lindsay did kiss another chick who does not look like a chick. Don’t bother Googling. LOL

 
Neil Patel Says:  
2008-08-23 16:39:43

Thanks for the heads up! Sadly, I already Googled it and saw the picture. ;)

It is kind of hard to stop a guy from looking at 2 chicks kissing.

 
 
 
 
2008-08-15 11:11:46

[...] Neil Patel took a unique approach to Micheal Phelps. [...]

 
2008-08-17 05:25:44

He has won till now 8 Golds in an Olympic, an history of olympic, now he is a golden man…
congratulations to him n us.

Neil Patel Says:  
2008-08-17 12:06:29

Who would have thought one guy would have that many gold medals.

Ruchit Surati Says:  
2008-08-17 23:09:54

Himself only Neil,

This cant be achieved without a determination so strong. 2 days back I came across a wonderful article on ‘phelps at the age of 11′ and it also did include a photograph of phelps by then. One should just look at his face and wonder what was going inside his mind. That photo-grpah did tell 1000 words of what he was intending to do..

Neil Patel Says:  
2008-08-18 15:36:38

You are totally right. Without determination, very little can get accomplished.

 
 
 
 
Christopher Rees Says:  
2008-09-01 20:52:03

You have a great pattern here of looking at various things and how they can apply to business or your career. Things to learn from the Sopranos, things to learn from Michael Phelps, etc.

Not only are you hedging what will be highly searched terms over the next few weeks and getting some boost from that (smart, very smart) your also able to relate things that people are interested in at this moment, and applying that to everyday life.

To reiterate one of your points, something I read somewhere once that always stuck, “There has never been ANYTHING less important than the score at halftime”.

It’s definitely not over until it’s over.. keep swinging that bat, and you’ll eventually knock it out of the park (one thing is certain, if you don’t swing, you surely won’t get the hit).

You can’t lose what you don’t have, so don’t be afraid to go for it… worst case scenario and you lose or come up short, you’re no worse for wear, as you didn’t have it to begin with. Get up, brush yourself off, and get ready to swing the bat again.

Neil Patel Says:  
2008-09-02 08:53:03

With so many of the Olympic races, it seems that at the last minute is when things can change. People get that burst of energy or something inside them that causes them to move faster.

As for the Saprano’s, here are 11 things you can learn from them.

 
 
Shilo Urban Says:  
2008-09-02 14:54:50

…And shave off all of your body hair.

Neil Patel Says:  
2008-09-02 15:14:37

LOL. In Michael’s case it makes him faster, which helped him accomplish his goals. For most people, I don’t think it would help them with their goals.

 
 
Music Blog Says:  
2008-09-03 14:41:28

Phelps made around 5 million estimated for each gold medal he won. That is a large sum compared to any of the other athletes who won gold. He not only set the record with medals but he also marketed himself in a way to make him humble and an all american guy. Business wise he is doing it right.

Neil Patel Says:  
2008-09-03 20:49:44

WOW!!!!!!!!!!!! I never expected him to make that much money per gold medal. I think I am in the wrong profession.

 
 
Otooo Says:  
2008-09-05 04:55:53

What makes Phelps a team player?
Who cares, he’s extremely rich

Neil Patel Says:  
2008-09-05 07:55:23

Not sure if he participated in any team sports or not, but he seems like he would do well in a team environment. I was just listing out qualities that Olympians may have.

As for money, it isn’t everything.

 
 
100kjob Says:  
2008-09-13 16:00:20

Even if he is not good at business, being successful as he is, it is hard not to earn that much of money.

Neil Patel Says:  
2008-09-15 07:03:37

For him it is very easy, but how long will it last. If you want to drag it out, you have to be smart.

 
 
2008-09-14 15:18:57

Good list! Wish we could all be that talented and famous. But I don’t want to do it for amateur status ;)

Neil Patel Says:  
2008-09-15 07:14:21

You can in your own niche. Who says you can’t be the Michael Phelps of the e-commerce world?

 
 
Chris Says:  
2008-09-14 20:06:04

Learn from your mistakes! You may not succeed today, but tomorrow can be a fresh start if you realize where you failed or how far you are behind. Set your ego aside and adjust.

Neil Patel Says:  
2008-09-15 07:28:20

Egos are really hard to set aside. I totally agree with you, but it stops even people like me from success some times.

 
 
Shilo Urban Says:  
2008-09-15 17:17:01

I think passion is the key, above all. If you love what you are doing with a fire in your belly, you will figure out the rest.

Neil Patel Says:  
2008-09-17 01:15:41

Without passion your dreams and goals never seem to get accomplished.

 
 
Downloadic Says:  
2008-10-18 17:38:21

haha, shave off all of your body hair is a nice thought.

 

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