How To Invest Without Money As A Professional Athlete
Different Ways You Can Invest In A Company Without Spending Your Own Money As A Professional Athlete
Professional Athletes are constantly getting bombarded with business decks and investment pitches from anyone and everyone. People assume that because you have large amounts of capital that you are an open bank to fund the next best start up or fortune 500 company. Not everyone can open a 100 million dollar VC fund right after their career is over like Kobe Bryant. In many cases, professional athletes can't afford to invest in a plethora of different deals.
As a professional athlete, you have to take into account all that you provide outside of just money when it comes to different deals. There are other ways to invest in different deals as professional athletes without risking your financial capital.
As a professional athlete you are an expert in your craft. Don't underestimate making it to the highest level of sports. As a professional athlete not only are you a specialist in your craft you also understand different nuances surrounding sports business. Whether it's health and wellness, media, esports, sports tech, and branding, as a professional athlete at the highest level you have an deep understanding of what works and what doesn't. You can use this knowledge as intellectual capital to come on as an advisor or consultant in exchange for equity.
As a professional athlete you have a large following. You can use that following to help market the company and network with bigger players in the VC space. Some companies are able to open doors simply by having professional athletes on their team. Being a professional athlete you have an influence that very few individuals have in terms of reach. This allows you to invest social capital and in return receive sweat equity for the efforts you put in getting company notoriety.
For as beneficial as it is for professional athletes to know different ways to invest without sacrificing cash, it's important to remember that with any investment whether financial, intellectual, or social you have to understand that your name is now tied to the company you are investing in. It's important that you know what the company stands for and that with any bad news you will now be in the spotlight. As the saying goes, "Not All Money Is Good Money." You must do your due diligence and make sure you do your research before jumping in to a new company.