3 Lessons from Mayweather vs. McGregor

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Last weekend's spectacle fight between Floyd Mayweather and Conor McGregor came and went.  You may have heard of the staggering sum of money involved in the the match, with a guaranteed minimum purse of $100 million going to Mayweather and $30 million going to McGregor.  Don't shed any tears for McGregor though, his guaranteed minimum was still 10 times higher than the previous UFC record of $3 million (also held by McGregor).  Here are 3 lessons to be learned from this historic fight.

Lesson 1 - Get out of Your Comfort Zone

Conor McGregor may be ranked #3 on the Ultimate Fighting Championship (UFC) Pound for Pound rankings, but make no mistake, he is #1 when it comes making money from the blood sport.  McGregor has been the headliner in 4 out of the 6 best-selling pay-per-view events in UFC history.  And oh does he have the swagger!?  Just look at the way he walks!  

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He could have kept pulling in millions as the most financially successful fighter in the history of the sport.  So why did he take a big gamble by taking on one of the most successful boxers in history.  We already ready know the potential reward - at least $30 million - was well worth it.  But what about the risks?  Which leads us to lesson #2.

Lesson 2 - Take Calculated Risks

McGregor is a marketing genius.  Why do I say that?  He arranged a match that he simply cannot lose.  McGregor has never boxed professionally before in his life.  If he had been knocked out in 10 secs, we would have said "$100 wasted.  But what did I expect?"  By even lasting into the second round, he was exceeded expectations.  One may argue the story might have had a different ending if his opponent was another more aggressive boxer.  I would agree as Mayweather is a well-known defensive master.  But to me, this simply serves as more evidence to McGregor's genius.  Sure he technically lost the match, but he had set the match that no matter win or lose, he's going to make a lot more money in the future.

Lesson 3 - You Need a Coach

If you watched the fight, you would have noticed that between each round when the fighters retreat to their respective corner of the ring, there is a swarm of people wiping their faces, handing them water, massaging their backs.  Both McGregor and Mayweather are at the pinnacle of their respective sports yet they both have entire training crews dedicated to helping them succeed.  The same goes for almost all professional athletes.  So why do we expect doctors to function independently as soon as they're out of residency?  It is entirely nonsensical.  So trainees, if you don't have a coach/mentor, you need one.  If you have no clue how to find the right mentor, stay tuned.  I have a post coming up.

I'm normally not a fan of combat sports like boxing and MMA.  But I confess I was sucked into the hype for the Mayweather vs. McGregor fight.  It was surprisingly entertaining.  But beyond the pre-match theatrics and the massive sums of money involved, I hope you agree with me on these 3 life lessons:

  1. Get out of your comfort zone.
  2. Take calculated risks.
  3. You need a coach.

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Future Proof, MD

Dr. Bo Liu is an aspiring radiologist-in-training and the founder and editor of the White Coat Money Blog.  He has an interest in interventional radiology and helping his medical colleagues get ahead in this mad world of medicine and money.  When he's not crushing the list at the PACS station or typing up your next favorite blog post, you can usually find him at the local badminton club, movie theater or the most recently opened restaurant.