Carmelo Anthony is supposedly toying with the idea of being a free agent, definitely a gutsy move for a Knicks player. Here’s why I think it’s the right move and how his thinking can help move your business to the next level.
You have to assess your worth
Carmelo likened his choice to an evaluation exercise. While this may not make sense to some, for me it’s a brilliant strategic move. Think about it this way, if you’ve only performed in one market you’ve only got one point of reference for value. To truly understand your value as a business you need to know what all your areas of interest are worth. So take an evaluation period and feel out the market. See who’s wooing you and what they perceive your value to be.
Focus on long-term financial growth
If Carmelo moves forward with the free agent route, he stands to increase his earning power by 180%. I personally don’t think he is going to leave the Knicks, but he is smart to keep them on their toes. He isn’t being wowed by the short-term gain of $23.3m, he’s going for the big check. This is a mentality that small businesses could benefit from tremendously. We worry day to day about staying afloat when what really separates us from the big boys is strategic revenue.
Know your limits
I don’t think that Anthony will follow through as a free agent, the reason being is that his earning potential is significantly decreased if he leaves the Knicks. Anthony is a smart cookie and he knows that his moves are limited. If another team doesn’t pony up a contract worth more than the next Knicks contract, he’s staying. He knows it, the Knicks know it. So when you step out into the marketplace, know what you can afford to lose before you set your plan in motion. There are so many different types of loss, be sure that you are prepared.
Business is very much like a game of basketball, it’s a mix of strategy and skill. The timing of our shots is crucial and most people only every focus on our championship games. But we know different. We know how much it takes to get to those championship games and that’s what makes me appreciate the entrepreneur in Carmelo Anthony. So give a little attention to his business lessons, maybe the Knicks will light your fire!