Career Paths for Former Athletes

Life doesn’t end after sport But for many athletes, it can be an extremely hard transition and life as they know it, as they love it, does come to an end. A great post by AJ McCormack yesterday brought up valuable points on athletes as entrepreneurs 🍦 Leclerc’s ice cream 🍾 Hamilton's non-alcoholic spirits 👟 Albon's shoes I’d even tack on Norris’ Quadrant and Leclerc’s Piano career, Bottas' calendar last year and some other short term projects not only by F1 drivers but by all athletes recently Starting your own business is often glorified on LinkedIn ➡ The freedom ➡ The excitement ➡ The money (or so they say) But for an athlete it is a lot different Starting a business, leveraging their brand, is a way to continue to connect with the fans they loved, a way to engage with the community they built even after being an athlete. These F1 driver examples are all still racing, yet they’ve invested loads of time, effort, money (blood, sweat, and tears too probably) into building something based on who they are and what they love. Even though they are still competing, they still get the thrill of racing and the athlete lifestyle, starting their ventures now helps make the transition from athlete to retired much smoother. In 2009 Sports Illustrated released a study that saw 78% of NFL players file for bankruptcy or go broke within 2 years of retirement. There’s a lot of issues surrounding this, however the most important one: They don’t know how to not be an athlete. Once sports are over, they’re lost and it hurts. Having businesses up and running while you’re still competing, building a brand while you’re still an athlete, helps make that transition less of a harsh reality and more of a new adventure for athletes. ⚫ It allows them to hold on to what they had during their time competing ⚫ It allows them to continue to work hard and stay connected with fans ⚫ It allows them to have stability in a very big transition Athletes as entrepreneurs is an important trend not only for what they bring to the table in an office or a board room, but also to help change the outcome for thousands of athletes transitioning out of competition and into the workforce and a new style of life. What’s your favorite “side quest” or entrepreneurial venture by an athlete?

The average pro athlete's career lasts less than 5 years. 5 things I did to transition from athlete to entrepreneur: I will never forget flying home from South Korea in 2019 and thinking, "This is it". My season with the Kia Tigers hadn't gone as hoped and my drive was waning. I knew it and my wife knew it ~ it was time for something new. So, here is what I did. - 1) Took Stock I didn't start with passions. I started with the reality of where my life was. What opportunity set did I have, what financial situation was I in, and what was the balance between "have to" and "want to"? Start with the reality of your current situation. - 2. Made My List I have always enjoyed sports, people, and finance. I made a list of a handful of roles that tied those concepts together. Agents Advisors Real Estate Investment Banking I created these by first understanding reality and then examining passions. - 3. Your Network My phone wasn't ringing with the next opportunity, I had to go create it. I put together a list of "successful" people (however you determine that works) to reach out. My Pitch: Buy You Lunch Learn About Your Journey Understand If You Would Do It Again - 4. Craft Your Offer At this point, I knew the industry but wasn't sure of the role. Instead of waiting for an opportunity ~ I asked for one. My offer ~ One that would be nearly impossible to refuse. Any Role Any Salary Your Terms *My reality allowed this as an option. - 5. Go All In I found something I loved ~ advising families. I needed to combine that with who I can help the best ~ athletes and entrepreneurs. I multiplied that by doing something that would keep my drive over decades ~ building a business. 3 years later here we are. - Your situation is different than mine. Your reality, skillset, and passions are different than mine. Yet, you can follow the same framework I did to transition. Whether you are a pro athlete, a valued team member, or still searching for the right role, I hope this helps. - 📌 If you find this helpful, please share it with your network ♻️ and follow me Jacob Turner for more at the intersection of sports and money 💵.

Beyond the Game: The Critical Need for a Plan B in Every Athlete's Career As the spotlight dims and the adrenaline fades, athletes often confront a daunting reality - what's next? The transition from a sports career to the next chapter of life is a journey that, if unprepared for, can lead to depression, identity crisis, and a profound sense of loss. 🌟 **The Untold Challenge of Transition** The end of a sports career can feel like losing a part of oneself. Athletes spend years, often from a very young age, dedicating their lives to their sport. Their identity, community, daily routines, and long-term goals are deeply intertwined with their athletic pursuits. When that ends, the void can be overwhelming. 📈 **Statistics Speak Volumes** Research shows a staggering number of athletes struggle with mental health issues post-retirement. This is not just about losing a job; it's about losing a core part of one's identity. 🔍 **Plan B: Not Just a Backup, But a Necessity** Having a Plan B is not an admission of lack of faith in one's athletic career; rather, it's a smart strategy for long-term well-being. Here’s why: - **Skill Diversification:** Sports equip athletes with unique skills like teamwork, discipline, and resilience. Translating these skills into other professions can lead to a seamless transition. - **Education and Career Exploration:** Engaging in education and exploring different career paths during one's sports career can open new doors when the time comes. - **Financial Stability:** A second career path can ensure financial stability post-retirement. 🗣️ **Success Stories as Inspiration** Many retired athletes have paved the way in various fields - from business to entertainment, to philanthropy. Their success off the field is a testament to the power of preparation and adaptability. 🧠 **Mental Health: A Priority** Athletes need to prioritize their mental health during this transition. Seeking support from professionals, mentors, and peers is crucial. 🛠️ **Action Steps for Athletes** - Start early: Begin planning for the future while still active in sports. - Seek mentorship: Learn from those who have successfully transitioned. - Explore passions: Identify interests outside of sports that can turn into career opportunities. 🔄 **A Call to Action** Let’s change the narrative. It’s time we support athletes in preparing for life beyond sports. Their well-being depends on it. Share your thoughts and experiences on this critical topic. #AthleteTransition #LifeAfterSports #CareerDevelopment

Many athlete-entrepreneurs find problems to solve from their own journey. Jelani Jenkins, a 5-year NFL Veteran, has been vocal on LinkedIn about his challenges transitioning from the pros. In 2021, he started building a solution with Postseason — a social learning app that helps athletes continue their growth, success, and fulfillment beyond sports. Through their research, Postseason identified 3 major hurdles that athletes face post-retirement: - Isolation - Loss of Support - Loss of Competition With a digital hub of educational content, mentors and wellness resources — Postseason is creating a space for athletes to “find purpose, grow, and nurture meaningful relationships beyond sports”. Be sure to check out Jelani's insights on “the athlete transition market” 👏🏽 🌐 Learn more: https://lnkd.in/eby9wYcE