2. Always turn a negative situation into a positive situation

In his rookie year, Jordan ruffled feathers by taking to the court in red and black Air Jordans, breaking the league's restrictions on the coloration of player's sneakers. The league banned the shoes and fined Jordan $5,000, to which Nike responded by covering the fine and turning the conflict into a brilliant marketing campaign.

3. Stay hands-on with your core product

Regardless of what you do in life, no one will ever care for the quality of your product more than you do. To this day, and even with his billion already in hand, Jordan still weighs in on designs of new Jordan shoes and suggests players he thinks would be a good fit for Nike's Jordan brand endorsement roster.

4. Don't back down from obstacles

Listen when the man speaks:

"If you're trying to achieve, there will be roadblocks. I've had them; everybody has had them. But obstacles don't have to stop you. If you run into a wall, don't turn around and give up. Figure out how to climb it, go through it, or work around it."

5. Think outside the box

While Jordan built his brand on the game of basketball, he didn't limit it to the hardwood. The all-star roster of Jordan-brand athletes has included the likes of MLB's Derek Jeter and C.C. Sabathia, the NFL's Earl Thomas and Dez Bryant and even NASCAR star Denny Hamlin.

6. Don't let failure stop you

After his failed ownership stint with the Washington Wizards, no one would have blamed Jordan for giving up his ambition of being an NBA owner and executive. Jordan didn't let that stop him, however, and in 2010, he took a controlling stake of the Charlotte Bobcats.

7. Keep a chip on your shoulder

Jordan's notorious for using and even inventing any possible slight he could to drive him toward success. Even his 2009 Basketball Hall of Fame induction speech--generally a more festive occasion-- raised eyebrows for bringing on grudges he used to motivate himself throughout his career.

8. Stay cool under pressure

One of Jordan's greatest strengths is his ability to remain calm and perform under even the greatest of pressure. Just like the game of basketball, this attribute is crucial to success in the games of business and life.

9. Don't be afraid to try new things

At the peak of his career, Jordan retired from basketball for two years to live out a dream of playing professional baseball. While his baseball statistics weren't all that impressive, his willingness to take the leap and give it a shot, even in the face of embarrassment, is now an inspirational part of the Michael Jordan lore. "I can accept failure, everyone fails at something. But I can't accept not trying."

10. He who takes the risk gets the reward

After purchasing a Charlotte Bobcats franchise that was piling up debt for a price of $175 million, Jordan put up his own money to cover losses for the first several years. The organization eventually turned things around and started showing a profit, causing Jordan's equity in the franchise to balloon to over $425 million and counting.

11. Look for unconventional opportunities to succeed

Some would argue that starring alongside Bugs Bunny and the rest of the Looney Tunes in Space Jam may not have been the coolest thing Jordan has ever done. But aside from being paid handsomely for the movie, His Airness made himself relevant to another generation of fans and also got ample opportunity to show off his Air Jordans to potential customers in the highest-grossing basketball movie of all-time.

12. Talent wins games, but teamwork and intelligence wins championships

Michael always had the talent to be great, but it wasn't until he learned to play with and trust his teammates that he won championships and became truly legendary.

13. Stay relevant

Even at 52 years old, Jordan has found a way to maintain relevance across all demographics. A recent poll showed 34% of people STILL think Jordan could beat LeBron James in a 1-on-1 basketball game, and Jordan's Facebook page--which hasn't been updated since 2009, has more likes than any active player in the league.

14. Do what you love

While he's now involved in a wide variety of ventures, Michael Jordan wouldn't be where he is today if it weren't for him pouring his heart and soul into the game of basketball from a very young age. Follow your passion, and good things will happen to you.