Why Do Athletes Make Great Entrepreneurs?

Jason Hanold
4 min readJun 20, 2024

--

Whether they play in high school or college, at an amateur or professional level, most athletes who are passionate about their sport are left floundering when the time comes to hang up their boots, unsure about which direction to move in.

Numerous global companies have come to recognize the significant advantage that athletes can present in the workforce. However, many athletes opt to branch out on their own, directing their energy into building their own businesses.

There are many examples of athletes who created successful business empires either during their careers or following their retirement from professional sports. Take for example Venus Williams, Magic Johnson, John Elway, David Beckham, and Payton Manning as just a few examples of elite athletes who successfully made the leap from sports to entrepreneurship.

Athletes have a unique set of skills and experiences

Athletes boast a unique set of experiences, skills, and qualities that position them for success in the business world. Accustomed to establishing and working toward goals, their determination and focus give them a significant edge in the world of entrepreneurship, where founders need to identify clear goals and work tirelessly to achieve them.

Determined and persistent, athletes do not give up, relentlessly pushing on despite unanticipated problems or setbacks. This mentality is crucial in business, where founders will hear a slew of “No’s” before receiving the one, all-important “Yes”. To be successful, entrepreneurs need perseverance, with an unshakable determination to keep going until they achieve their goals.

Confidence is a key attribute

Confidence is a key attribute of professional sportsmen and women. Without this quality, they simply would not be able to perform to the best of their ability. Confidence and self-belief enable professional athletes to make decisions, take calculated risks, and ultimately get results. Similarly, in the world of entrepreneurship, confidence is a vital quality.

Athletes are self-driven, requiring little extra motivation to get the job done. Constantly pushing themselves through training, they eat right, exercise, and carefully maintain their bodies, even when their coach isn’t watching. Of course, even for athletes, some days are harder than others. Nevertheless, professional sportspeople keep putting in the work, motivating themselves to get the job done when it matters most.

Many top female executives played a sport

According to new research, sportswomen are more likely to become successful entrepreneurs, with a survey by Ernst & Young revealing that 90% of top-level female executives played a sport in school or college. In response to this finding, Ernst & Young subsequently launched its Women Athletes Global Leadership Network with the goal of helping female elite athletes pursue careers in business following their retirement from sports. Ernst & Young’s poll also revealed that 70% of female C-suite executives continued to enjoy playing sports in their spare time.

In the world of professional sports, talent alone is not sufficient to achieve victory. The real triumphs arise when teammates unite, each player leveraging their unique skills while pulling together to propel the team to success. The same principle applies in entrepreneurship, where collective efforts by team members are integral to the success of any startup.

Athletes make huge sacrifices

From a young age, athletes make huge sacrifices, adhering to strict training schedules, and letting their personal and social lives take a backseat as they concentrate all their energy toward reaching the pinnacle of their sport. Similarly, founders are often required to sacrifice both their financial security and personal time in the pursuit of ambitious business objectives. Having honed this mindset throughout their sporting career, retired athletes enjoy a powerful advantage in the realm of entrepreneurship.

No professional athlete is victorious in every match. For example, there has never been an undefeated NBA or World Series champion. No athlete wins them all. Sport teaches participants to not only overcome their fear of failure, but to learn from their mistakes, encouraging players to identify what went wrong, make changes, and prepare for the next round, an equally important capability in the business world.

A second career as an entrepreneur

For athletes, a second career in entrepreneurship can manifest itself in a variety of different vocations. Traditional opportunities include real estate development, restaurant franchises, and car dealerships, with elite athletes converting their star power and personal brand into either one or a whole empire of businesses. In recent years, both current and retired athletes have also entered the field of venture capitalism at a dizzying pace, building teams of advisors to help them vet promising startups.

When embarking on a second career in business, athletes need to consider not only which industry would be a good fit for their skillset, but which pursuits they feel passionate about. They also need to weigh their risk appetite and start networking with industry insiders who can open doors for them and provide mentorship, guidance, and valuable insights.

Following their retirement from sports, some former athletes secure employment, providing their company with the benefit of their unique mindset and hard and soft skills developed throughout their playing days. Nevertheless, for those eager to embark on their entrepreneurial journey, the myriad of abilities and positive traits they developed as athletes provide a significant edge in the business world.

--

--

Jason Hanold
Jason Hanold

Written by Jason Hanold

Executive Recruiter, clients NFL, Google, Patagonia, Under Armour, Gucci, Nike, Northwestern, eBay, UFC, Vail, REI, Electronic Arts, Live Nation, #HR #Recruiter

No responses yet