We often idolize athletes for their physical prowess and skills on the field, but what we often overlook is their business acumen off the field. Over the years, we have seen a rise in athletes who have successfully transitioned from their professional sports careers to entrepreneurship, building business empires that are just as impressive as their athletic achievements. From apparel and tech startups to restaurants and media companies, these athletes have proven that their winning mindset extends beyond the arena. Let’s take a closer look at how these stars are turning their passions into profitable businesses in our article on Athletes Turned Entrepreneurs: How Stars Are Building Business Empires.
Playing With a Purpose
The journey of an athlete is never an easy one. It takes discipline, determination, and an unwavering will to succeed. This mindset is what sets them apart from the rest. So, when their playing days are over, it’s no surprise that they channel these qualities into their entrepreneurial ventures.
Take Kobe Bryant, for example. The late NBA legend turned his Black Mamba mentality into a successful venture capitalist firm, funding tech startups such as The Players’ Tribune and Scopely. Similarly, Serena Williams launched her own venture capital firm Serena Ventures, with a focus on investing in diverse-founded companies. These athletes are not only using their capital to support upcoming businesses, but they also bring their unique perspectives and experiences to help these startups reach their full potential.
From Face of the Game to Face of the Brand
One of the biggest advantages of being a professional athlete is the immense popularity and influence that comes with it. With millions of fans around the world, athletes have a ready-made audience and a powerful platform to launch their businesses.
LeBron James, who is not only known for his on-court dominance but also for his business ventures, has taken this concept to a whole new level. The NBA superstar has successfully extended his brand beyond the confines of basketball, becoming the face of major companies such as Nike and Coca-Cola. His most recent venture, SpringHill Entertainment, has produced hit shows like “The Wall” and “Space Jam: A New Legacy,” further establishing his presence in the entertainment industry. This goes to show that the star power of athletes is not limited to their athletic abilities, but can also translate into the business world.
Innovating for the Future
Athletes are always looking for ways to improve their game, and this mindset also drives their entrepreneurial ventures. They constantly seek out new opportunities and innovations to stay ahead of the game.
Retired NBA player and now investor, Baron Davis, saw the potential in the sports technology market and co-founded the sports media platform, The Players’ Tribune. The platform gives athletes a direct channel to communicate with their fans, and it has been a huge success, recently raising $40 million in new funding. Similarly, former NFL quarterback, Joe Montana, turned to venture capitalism after retirement, investing in a range of tech startups. He is also the co-founder of Liquid 2 Ventures, a seed-stage fund that has backed successful companies like Zoom and Pinterest.
Giving Back to the Community
Athletes have a special connection with their communities and use their influence to make a positive impact. Many of them have gone beyond philanthropy and have created businesses with a social mission.
Retired NFL star, Tony Gonzalez, founded the world’s first organic meat snack company called Simple Snacks. The company’s mission is to provide healthy and sustainable snacking options, with a portion of their profits going towards feeding underprivileged children. Similarly, soccer legend, David Beckham, launched his own cult-favorite grooming and skincare line, House 99, which supports programs to empower young men through sports.
The Legacy Lives On
The success of these entrepreneurs is not just about building a profitable business empire, but it also has a much lasting impact. Their stories serve as inspiration for the next generation of athletes, showing them that there is life after sports.
Retirement may mark the end of their professional athletic careers, but for these athletes, it’s just the beginning of a new chapter. They continue to push boundaries and inspire others to follow in their footsteps, proving that with passion, determination, and a winning mindset, anything is possible. So, let these Athletes Turned Entrepreneurs be a reminder that there are no limits to what one can achieve, on or off the field.
