Jay Shetty & Michael Rubin ON The One Mindset Shift for Better Goals

In this On Purpose episode, Jay Shetty welcomed Michael Rubin.

Rubin is a successful entrepreneur and philanthropist, the CEO of Fanatics, a global digital sports platform. Moreover, he is also a social justice advocate, focusing on criminal justice reform as the co-chair of the Reform Alliance. Rubin was named Sports Business Journal Executive of the Year in 2022 and featured on the Bleacher Report Power 50 list. 

Working Since Childhood

Rubin shares with Jay Shetty his beginnings as a poor student and athlete. Yet he also had a strong entrepreneurial spirit from a young age. At eight years old, he started his first ventures by selling trading cards, shoveling snow, and door-to-door vegetable seeds. Despite struggling with academics and sports, Rubin was drawn to business and found it to be something he was good at and enjoyed.

Rubin's entrepreneurial journey is not solely about making money or satisfying worldly desires but rather about pursuing what he is good at and loves. He believes in focusing on your strengths and continuously improving upon them. Therefore, Rubin attributes his success to being like a sponge for learning from diverse people around him and adopting their positive traits while avoiding their negatives.

In Rubin's early days, entrepreneurship was perceived as nerdy and unusual. This image has shifted, especially after the 2000s dot-com era and the 2007-2008 financial crisis. He describes to Jay Shetty the evolution of entrepreneurial aspirations, mentioning a shift from traditional careers in banking or consulting to a growing interest in starting personal ventures among younger generations.

Trading Cards Business

Michael Rubin admitted to Jay Shetty that the trading cards industry lacked significant innovation and marketing before his company's involvement three years ago. He saw this as an opportunity to modernize and revitalize it and went for it.

Rubin explains that while the fundamental concept of trading cards has remained unchanged, his company has introduced innovative ideas to the industry. One such innovation is using patches from players' jerseys in their debut games to create unique, one-of-a-kind trading cards. These simple yet unexplored ideas have brought a fresh perspective to the industry.

Rubin highlights to Jay Shetty the significance of balancing a business's digital and physical aspects. He is devoted to entrepreneurship and innovation across all his ventures, merchandise, collectibles, and online gaming. This strategy aligns with the changing interests of consumers and the possibility for traditional industries to adjust and flourish in the digital age.

Entrepreneurs Take Action

Rubin told Jay Shetty that entrepreneurship isn't a suitable career choice for everyone. Still, those drawn to it should embrace the challenges that come with it and be prepared to face the risk of failure. He stresses the importance of taking action on your ideas and learning from failures.

Rubin highlights several vital points for aspiring entrepreneurs:

1. Courage to Try and Fail: The willingness to pursue an idea and the resilience to learn from failures is crucial. 
2. Surrounding with Great People: Success in entrepreneurship often depends on the team around you. 
3. Enjoying the Process: Finding joy in what you do, as financial success alone doesn't guarantee happiness.

Jay Shetty agrees with Rubin's perspective and shares a similar journey from a conventional career path influenced by his upbringing to finding his interest in entrepreneurship. He stresses the significance of pursuing satisfying work that aligns with your abilities and potential.

Understanding Human Behavior

Rubin shares with Jay Shetty that he learns from diverse sources, not just business experts but also people from all walks of life, such as arena workers, random individuals on the street, and his extensive network of friends. This eagerness to engage with different perspectives helps him gain insights into human behavior and trends.

Rubin also emphasizes the importance of pattern recognition in business, which he uses in everything from executive recruitment to personal decisions. He never relies solely on references but seeks to understand patterns from multiple sources to evaluate a person's potential and fit within his team. He views pattern recognition as predictive of future success.

When it comes to hiring staff, Rubin spends a significant portion of his week interviewing candidates. He looks for subject matter expertise, leadership skills, shared values, long-term commitment, and an unrelenting will to succeed. He values the attitude of not quitting, believing that many of his successes come from persistence.

Work Is a Part of Life

Rubin shares with Jay Shetty that he doesn't believe in the traditional concept of work-life balance because his life is more centered around his work. Some may view this as extreme, but Jay relates. He explains that his typical week is filled with activities that blend work and personal enjoyment, such as morning hikes with colleagues and dinner meetings.

Rubin encourages the listeners to see that the boundaries between work and personal life can blur positively when you love what you do. He has made a significant change by incorporating regular workouts into his routine, which he finds mentally refreshing. He emphasizes to Jay Shetty the importance of taking brief breaks from constant connectivity, such as putting away his phone during family dinners, to maintain mental health.

Value over Wealth

Rubin explains that he doesn't seek recognition for his financial status. Instead, he wants to be known for building a great company and improving the world. Rubin views his business as a "big startup, " focusing on continuous improvement and enhancing the fan experience.

Moreover, Rubin opened up to Jay Shetty about a personal transformation in his approach to giving back. He used to donate money with little thought. Still, an event in 2017 involving rapper Meek Mill's imprisonment for a minor offense profoundly impacted him. Witnessing the injustice faced by Meek Mill in the criminal justice system, Rubin realized the importance of taking action beyond just financial contributions. 

This event led to the foundation of the Reform Alliance, an initiative focused on criminal justice reform. He now follows his instincts and moral convictions and is convinced that positive karma follows ethical behavior.

Doing the Right Thing on All Fronts

Following Meek Mill's imprisonment, Rubin realized the systemic issues in the criminal justice system, particularly around probation and parole, and was motivated to create change. He and his team set an ambitious goal to reform the system to impact a million people. 

Until now, they have made significant progress, passing seventeen bills in eleven states and creating pathways for 700,000 people to exit probation and parole. One notable achievement is the legislation in California capping probation at one year for misdemeanors and two years for felonies.

As a businessman, Rubin aspires to be the leader in each sector, not settling for being second or third. This mindset of setting high goals, even if they seem unattainable, drives him and his team to strive for excellence and significant impact, both in business and social causes. 

Michael Rubin's Private Life

Rubin admitted to Jay Shetty that his partner, Camille, and his daughters would like him to be more present and available. Nevertheless, they appreciate and learn from his work ethic. Rubin stressed the significance of being present during crucial moments and prioritizing family time when it truly matters.

Rubin acknowledges that he may not always be readily available. Still, he prioritizes essential family moments, such as helping his daughter with college-related issues. Balancing work and family is a personal approach that varies for each individual and family.

Everyone Is Unique

Jay Shetty and Michael Rubin agree on the importance of diversity in experiences and perspectives. To Jay, there is no one-size-fits-all approach to finding purpose, impact, and success in life. He believes exposure to various viewpoints helps people discover what resonates with them. 

Jay's transformation began when he met a monk at 18, who guided him towards an unexpected path in life. Since then, he has advocated seeking out your own 'monk' or mentor, who can provide a fresh perspective and significantly influence life choices. Jay encourages the listeners to be open to new experiences and diverse perspectives, as it can be the key to unlocking your true potential and finding fulfillment in life.

More From Jay Shetty

Listen to the entire On Purpose with Jay Shetty podcast episode on “Michael Rubin ON The One Mindset Shift You Need to Set Better Goals & See Patterns Before Your Competition” now in the iTunes store or on Spotify. For more inspirational stories and messages like this, check out Jay’s website at jayshetty.me.