For many years and decades men and women of financial prominence have had the ability to adjust to the environment around them and use the adjustments to excel in any type of market. One thing that people should know about this world is that it is always evolving or changing. A mogul is defined as a powerful or influential person. Moguls realize that there is time for a change before everyone else and position themselves accordingly to maximize profits and exposure. Forecasting what will happen is a powerful tool that is the backbone of investing, which is the backbone of making money.
Who knew that an outlandishly mean-looking heavyweight boxing champion could become one of the world’s best pitchmen! George foreman, fresh off of the rumble in the jungle against Ali, Pocketed a cool 5 million dollars, which at the time was the biggest payday in boxing history. After this devastating loss, Foreman was retired from boxing less than 5 years later. He became a Baptist preacher. In an attempt to help distressed children, he started a youth center and supported it with his own money. After exhausting his life savings he was forced to go back to boxing more than 10 years after his last fight. This was due to George not knowing any other way to raise money. He had not gained any other skills that allowed him be profitable at something else.
In his earlier fighting days George was a bruiser, full of power and lacking stamina. This time around he reinvented his boxing style by dedicating himself more to building that stamina and becoming more of a polished boxer and not just a hard puncher. He boxed his way back up to the top of the rankings and regained the heavyweight championship at the ripe old age of 42, at the time he was the oldest man to ever win a world championship in boxing. Upon conquering the heavyweight division, and changing his demeanor, from mean to jubilant, George was recruited to pitch products for various big name companies, which gained him the finances he needed to support his youth center and family.
Now today Foreman is probably best known to non-boxing fans as the namesake of the “Lean Mean Fat- Reducing Grilling Machine”. When he signed on to this project in its genesis, the grill did not sell immediately, because its marketing had a major flaw. The infomercial used to pedal this product showed clips from George regaining the heavyweight championship. For people that watch these shows that was making the target audience uninterested in the show, so they re-cut the show and removed the boxing footage and inserted a family discussion segment. That reinvention blew the sales to the roof and it has never looked back. To this day the grill has sold over 100 million units. George sold the naming rights to the grill for 137 million, far surpassing the 12 million he got for his most profitable fight in 1992 against Evander Holyfield.
If George foreman had not been able to reinvent his boxing style, his image in the media, and his business identity, he would not be the mogul that he is today. He is a prime example of how through reinvention that a person can be very successful and profitable. I hope that you readers take this blueprint and build your own foundation of adjustment and enable it to lead you to the path of prosperity.