Athletes should monetize their name, image, and likeness cautiously
The Supreme Court of the United States recently upheld the lower court’s ruling that ruled against the NCAA and for student athletes. In the aftermath, many states had laws taking effect on July 1st, 2021 to allow athletes to monetize their name, image, and likeness. These athletes had been prohibited from doing this previously by the NCAA. Read more about the background here.
Some huge deals have been done with many athletes including twin guards for the Fresno State women's basketball team Hanna and Haley Cavinder making bank with a sponsor deal with Boost Mobile. These deals have athletes, schools, and sponsors scrambling to take advantage. However, just because you can, doesn’t always mean you should.
I have always been and remain to be 100% behind student athletes profiting from their name, image, and likeness. Throughout undergrad and law school, I was a staunch supporter of the athletes and have voiced very strong anti-NCAA sentiments. My views continue to be with the athletes in mind, however, they should be cautious of who to trust and how to build their brands.
They must be strategic with how they monetize their name, image, and likeness and be sure they have a long-term vision for their brand. There are also rules and regulations implemented by the NCAA, their state, and their schools that they must abide by to stay in compliance. This is an exciting time, however, and athletes should be forging ahead with building their personal brands and businesses.
For the first time, many collegiate student athletes are actually able to build businesses around themselves and be entrepreneurs. I work with athletes to help them build and scale businesses. It’s not only about having an idea. You have to understand how to strategically implement it.
My 8-week business building programs help them achieve this through weekly calls, building a website, creating an ideal client avatar, budgeting, creating your pricing structure, rate cards, and so much more.
𝐖𝐄𝐄𝐊 𝟏 & 𝟐
Setting your Business Vision
𝐖𝐄𝐄𝐊 𝟑
Pain points & Problems
Increasing Revenue
𝐖𝐄𝐄𝐊 𝟒 & 𝟓
Marketing and Advertising
𝐖𝐄𝐄𝐊 𝟔
Pinpointing your service and product offerings
𝐖𝐄𝐄𝐊 𝟕
How to Network
How to cold call and cold email
𝐖𝐄𝐄𝐊 𝟖
Negotiating like a Pro
Athletes can’t afford to build their businesses on shaky ground. They must take the time to build a solid foundation so they don’t get taken advantage of, undersold, or undercut future opportunities.
To find out more about this program and my other consulting services, contact me via email at yourpotentialforeverything@gmail.com. You can also book a consulting call now where I can work through your business ideas on the spot for 45 minutes and provide you with a written takeaway on next steps and summaries of our discussion.
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