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Athlete-Driven Startups: How College Athletes Are Becoming Entrepreneurs
Last Updated on: November 6th, 2023
When you think of a college athlete, you most likely picture someone who spends all their time training and competing in their sport. However, there is a growing trend of college athletes who are also entrepreneurs. These athletes are starting their own businesses and becoming successful entrepreneurs while still in college.
In this blog post, Christopher Linton Alabama leader will explore how athlete-driven startups are taking the business world by storm and the impact they are having on the startup ecosystem.
Why College Athletes Make Great Entrepreneurs
First and foremost, college athletes have many qualities that suit them for entrepreneurship. As college athletes, they know how to handle pressure and how to stay focused on their goals. Starting a business requires hard work, perseverance, and staying focused on your goals.
Athletes also understand the significance of teamwork and collaboration, which are essential in building a successful start-up. According to a study done by the NCAA, student-athletes are more likely to be entrepreneurial after graduation than non-athletes.
Examples Of Athlete-Driven Startups
One example of an athlete-driven startup is the fishing lure company BioBait. The founder, Jordan Lee, was a college athlete who started the company while still in school. On Shark Tank, he obtained an investment of $200,000 from Mark Cuban. Another example is the fitness app, BarBend. This app for weightlifting enthusiasts was founded by a former college athlete, David Tao, and has since become one of the most popular apps in the fitness industry.
Athletes As Influencers
Athlete-driven startups have a personal advantage – the athletes themselves. Being a college or professional athlete has a certain level of fame. This influence extends to the startup world when those athletes start businesses. Athletes can use their social media presence to promote their new ventures and attract investors. Consider the case of LeBron James, who uses his massive following to promote his media company, SpringHill Co.
Benefits Of Athlete-Driven Startups
The benefits of athlete-driven startups are far-reaching. For athletes, entrepreneurship provides a way to earn money while still in college or after retirement. It also gives them a sense of purpose beyond their sport. For investors, athletes bring with them a built-in audience of fans and supporters. For the startup world, these athletes provide a fresh perspective and unique skills that can bring success to a new venture.
Challenges Athlete-Driven Startups Face
Despite all its advantages, athlete-driven startups face unique challenges. Athletes have to juggle their sports and classes while running a business. They also don’t have a lot of experience with the business world, which can hurt the success of the company. Finally, athletes may face skepticism from investors and potential partners who question their ability to balance sports and entrepreneurship.
In addition to these challenges, there is also the issue of the NCAA’s strict rules and regulations. Currently, college athletes are not allowed to profit from their name, image, and likeness (NIL). This means they cannot use their athletic platform to promote or endorse their businesses. However, with recent changes in NIL laws and regulations, this may change in the near future.
Overall, athlete-driven startups have a lot of potential and are becoming an increasingly important part of the startup ecosystem. With their unique skills, drive, and passion for success, these athletes-turned-entrepreneurs are making their mark in the business world. As more and more college athletes follow in their footsteps, we can expect to see even greater innovation and disruption from this growing trend. So, the sports and business worlds must embrace and support these athletes in their entrepreneurial endeavors. After all, they’ve already proven themselves as champions in their sport.
Conclusion
Christopher Linton Alabama leader, considers that athlete-driven startups are a growing trend in the business world. College athletes are uniquely suited to entrepreneurship because of their experience with teamwork, pressure, and perseverance. In addition to providing financial benefits, entrepreneurship also gives athletes a sense of purpose beyond their sport. While athlete-driven startups face unique challenges, they also bring a unique set of skills and perspectives to the startup world. If you’re a college athlete interested in entrepreneurship, there’s never been a better time to start a business.
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