Bassham was born in Comanche, Texas. He graduated from the University of Texas at Arlington in 1969, where he participated in the ROTC program. In 1972, at the Munich Germany Olympic Games, Lanny Bassham did not win the gold medal in International Rifle Shooting, winning silver instead, but blamed his suboptimal performance on mental. Frustrated, Lanny wanted to take a class in controlling the mind under pressure. After looking for such a seminar and not finding something satisfactory, Bassham began to interview Olympic gold medalists to discover what they were doing to win.
Bassham created a system of mental control he called Mental Management. Within the next six years Lanny Bassham dominated his sport, winning 22 world individual and team titles, setting 4 world records and winning the coveted Olympic gold medal in Montreal in 1976.
For the past 31 years, Lanny has been teaching Mental Management to clients including the PGA and PGA tour players, Miss America finalists, World and Olympic champions, Fortune 500 companies, the United States Secret Service, the US Navy SEALS, the United States Army Marksmanship Unit, the US Marine Corps Marksmanship Unit, and the FBI.