Over the past couple of decades, a new breed of athlete has emerged to dominate the scene. These new athletes transcend the boundaries of their sports and move into the world of business.
They’re often touted as being super athletes, and they’re not only dominating their chosen field (ring or court, depending on their sport, of course). They’re also taking over the business world too!
From taking on venture capital funds to creating new social media platforms, these athletes are redefining what success looks like in their fields. Not just in their games but way beyond its scoreboards.
Why Are Athletes Diversifying?
The truth is that this switch from being solely sports-focused to becoming an entrepreneur isn’t just another random act of fate. There are several reasons why this new breed of athletes has emerged onto the scene. Here are some of those:
Connectivity
The world’s just more connected than it used to be. In this digital age, athletes now have a direct line to their fan base through social media platforms.
This ability to connect with their fan base has allowed them to be not only a sports icon but also build personal brands. It’s also allowed them to control narratives and explore other opportunities in business outside of their sports.
The communication world is fast-paced nowadays and has allowed them to break down those barriers. It’s allowed them to not just figure on the field but establish themselves as relatable individuals with unique stories to tell.
Shifting Cultural Dynamics
Let’s face it: the cultural landscape has changed. This has given these individuals the ability to leverage their influence to drive conversations about both social and cultural issues.
They can now speak out on social issues and champion causes that they truly believe in. And this has led to a broader recognition of their impact, giving them a heaped spoonful of empowerment.
Overall, this cultural shift has given them the confidence to extend their reach and the ability to get their hands in industries where they can make a lasting difference both economically and socially.
Financial Literacy & Mentorship
Financial literacy also plays a role. There’s a wide range of resources and mentorship opportunities that weren’t always open to athletes.
That means that today’s athletes are learning from their predecessors’ successes and failures, and now are better equipped to handle the financial responsibilities they find themselves having. It’s much easier to navigate a complex world of investments and entrepreneurship because they’ve got this knowledge.
That, accompanied by the presence of mentorship programs and initiatives, has all played a pivotal role in changing their mindset. It’s also given them the power to make strategic investments.
You can look at Shaquille O’Neal, Stephen Curry or Kevin Durrant who have all made big moves outside of their primary career in sports. All three have surrounded themselves with super smart tech people who are guiding their investment decisions off the court.
Evolving Perception
In the past, athletes tended only to be endorsers or brand ambassadors. However, with the growing recognition of their unique skill set, there has been a significant switch in the business landscape.
They’ve got skills such as discipline, teamwork, and resilience that they’ve honed over years of rigorous training. These are all easily transferable to the business world.
Because people are beginning to understand and see that success has opened doors for them, they can now explore a broader range of opportunities well beyond those traditional endorsement deals.
Globalization
Because of the globalization of the world in general, everybody can have an extended reach and influence. But when you’ve got the platform that athletes do, it changes significantly.
Most of these athletes are now not just country-specific icons but global icons. This gives them the ability to transcend geographical boundaries and have an impact on various corners of the world.
This has attracted the attention of businesses and investors worldwide. It has prompted athletes to be able to capitalize on their international requisition to build global brands and make investments more strategically.
Athletes will continue to play an increasingly more influential role in a wide range of industries. This proves that they have an impact well beyond their predecessors, who can push boundaries and create a new lifestyle for themselves.
The Evolution of the Athlete-Entrepreneur
Nowadays, it seems that these “super athletes” are everywhere. But to give a more definitive look at them, we wanted to take a deep dive into some of the most well-known.
From Touchdowns to Investments
We’re sure that when you hear the name Tom Brady, you think of Super Bowls and touchdowns. But it’s more accurate to think of him as a boardroom guru.
This legendary quarterback has transitioned seamlessly from the gridiron to a seat at the top of corporate America. Of course, this move started with him creating his own production company, 199 Productions. But that was only the start. He followed it up by extending into wellness with TB12 in 2013 and sportswear in 2021 with the BRADY Brand.
A move like this is what allowed him to take his influence beyond the football field and dive headlong into the entertainment industry. This was just the first of many business touchdowns for this legend!
Slam Dunking in Business
LeBron James is one of the best basketball players of all time. He has a lot of unlimited prowess on the court, but that prowess also leaps off that court and into the world of investments. He’s sunk his teeth into investments like Beats by Dre and even owns 2% of the Liverpool Football Club.
But those aren’t even his biggest investments. This super-athlete has diversified his portfolio by founding several companies. Along with Maverick Carter, he created the Uninterrupted Media company. Another big investment was his production company, SpringHill Entertainment. But he also put money into companies like Blaze Pizza and the Fenway Sports Group.
He has proven that he isn’t just an icon in basketball but a shrewd and smart businessman. His focus on ownership and long-term investments has extended past the endorsement deals he has.
His portfolio includes a wide range of other investments. This just goes to show you diversification is the name of the game today.
A Force in VC and Fashion
These super athletes aren’t just of the male persuasion, though. Some of the biggest are females. And one of the most legendary of them is Serena Williams.
She’s embraced the world of venture capitalism and launched a company called Serena Ventures. So, beyond her dominance on the tennis court, she’s making waves in the business world by giving back to the community and investing in diverse startups.
The company has already invested in more than 60 companies, including Daily Harvest and SendWave. But she has also invested and extended into other areas, like fashion with SbySerena and sports, owning a small portion of the Miami Dolphins.
These range anywhere from health and fitness to fashion. Her ventures emphasize the importance of supporting different industries and individuals to help build their dreams.
The Ring to the Screen
Can you smell what he’s cooking? That’s right, Dwayne Johnson, otherwise known as the rock to his wrestling fans, has transitioned from the ring to Hollywood.
This in and of itself is a diversification of his business forays. But that’s not where his business forays stopped. Johnson has also put his stamp on his very own production company. Along with that, he also put money into the small-batch ice cream company Salt and Straw and teamed up with the Molson Coors beverage company to craft a special energy drink called ZOA Energy.
Seven Bucks Productions has hit the ground running and become a social media sensation. The fact he uses digital platforms to push his business shows other athletes that they can shape their narratives in the same way.
So, you see, sports and business are evolving, and they’re evolving together. These “super athletes” are at the forefront of this transformation. They’re redefining what it means to be successful in business as well as in sports.
This has led them to become venture capitalists, media moguls, and just basic influencers. These individual athletes are growing, and they’re impacting the business world in a way that is continually shaping industries and will do so for years to come.