Magic gives out busines advice in new book

November 25, 2008 12:49:43 PM PST
The man who turned from NBA star into a successful entrepreneur is now telling others how to start their own businesses even in these tough economic times.

Los Angeles Lakers legend Earvin "Magic" Johnson has written a new book called "32 Ways to Be a Champion in Business." Thirty-two was the number Johnson wore when he played.

He says start-up money is tight right now, but that will not always be the case.

"Eventually the markets are going to turn around and so what you need to be is ready for that opportunity when the markets turn around and make sure you have the tools you need to be a successful business owner," Johnson said.

Johnson believes the markets will turn around within 18 months and potential entrepreneurs could use the time to come up with a strong business plan to attract investment, attract a diverse workforce and find a need their business can fill.