Ten Great Business Lessons You Can Learn From Arnold Palmer!

September 10th would have been Arnold Palmers 93th Birthday. The King is sadly no longer with us, but while his fame as a golfer will live forever many forget what a great businessman this poor boy from Latrobe, turned out to be. Unlike many other players of his time Arnie, not only amassed an army but an astonishing fortune as well. Arnie made almost one billion dollars in his lifetime which ain’t half bad when you think that despite being the first player to make $100,000 in a season and the first to make a million in career earnings, he actually made less than two million in total, for his 62 PGA Tour, victories!

Ten Great Business Lesson We Can Learn from The King

1. The best business deals are sealed by handshakes, not 50-page contracts.His deal with Cleveland lawyer Mark McCormack was the foundation of his fortune. That deal which spawned a global empire was never secured with anything more than a handshake. Says Palmer. “After a few months of talking to Mark about him representing me and me only, he came back and said he was ready to commit. Well him being a lawyer, he had a several-page agreement that he had drawn up for me to sign, in order to make it all official.” I looked at him and said, “Well, I’m not going to sign anything. I’ll give you my word and you give me your word we’ll shake hands and we have…