Athlete’s Case Study
Marie Management has helped 12 athlete entrepreneurs with their for-profit companies with operational systems and strategies that resulted in 30% of the companies new earnings from scaling to philanthropic arms of their own through building a corporate responsibility program, nonprofit, NGO or trust with us.
Problem #1 Investments: From the day athletes begin training for their primary opportunity in a national league to the day they sign, athletes should be outlining their investment plan. Not knowing how, when, where or why their income is better off invested instead of 100% of it contributing to lifestyle is the primary way to become a part of the 60% of athletes with limited no income beyond their last game. Expecting or waiting on the league they enter to invest in them prior to the team, game or contract, during or after their term is where we see athletes lack the over care, personal development, professional development and balance necessary to thrive both on and off the team.
Problem #2 Business Development: Oftentimes athlete’s have a management team that gets them contracts, negotiates terms and oversees their income enough to pay themselves. However, these teams are not in a position to develop, manage, sustain and maintain the businesses of the athletes they do not directly get paid from pertaining to the sport.
Problem #3 Business Operations: Athletes are typically playing their game, meeting medical requirements, trying to maintain a balance with the families and following the requirements of their management team. Therefore in the event that they successfully build a business in addition to their athletic career, operations of the business take a back seat. Which directly results in the slow progress or failed outcomes of the business.
- Baseball Athletes worked with Marie Management in connection to their existing management team to build their hybrid model business during their first contract in the league.
- Basketball Athletes worked with Marie Management outside of their existing management team to develop investment activities, personal finance plans and business plans for the established income.
- Football Athletes worked with Marie Management to establish training centers, franchise opportunities and partnerships for their for-profit and nonprofit business concepts.
- Soccer Athletes worked with Marie Management to scale their existing family businesses via a strategic growth plan based on their current brand structure to sustain generational wealth for their children beyond the sport.
Identify the Ways Marie Management Can Solve Your Problems As an Athlete Entrepreneur
After an initial assessment, audit, strategic plan development and consulting all inefficient processes, existing technology systems and operating management systems required solutions in the following areas:
- Planning Periods: Rather you plan to transition or include entrepreneurship during your career as an athlete or in retirement, you have to plan accordingly. It does not matter if you are entering a franchise, real estate, car dealerships, your own branded product, restaurant, owning a team of your own or venture capital, it’s important to now only know which method you are taking but the plan to take action and implement on a timeline of strategic activities.
- Leveraging Legacy: It is clear that the traditional athlete to entrepreneur path is sports anchor, team advisor, team investor, brand ambassador, author, franchise owner and venture capital or holding company. However, the athletes that have successfully built an enterprise that will exist beyond their career, life and ability to spend the money made in their careers have established the true definition of legacy establishment.
- Profitable Passions: Technology, Media, Production, Entertainment, Academia and Fashion have all been realms of profitable passion for athletes transitioning to entrepreneurship. It is imperative that athletes gain the business acumen and team necessary to run their companies on their own in the avenues that exceed and extend beyond their passion that result in maximum profit.
- Increasing the Amount of Athlete Entrepreneurs: Any given team of athletes has 11-53 members. Of those players 1-5 build businesses around their brand, athletic career and status. More of them lose their wealth slowly or abruptly than those of them that turn their wealth into business investments that outlive them and their careers. In increasing the amount of athlete entrepreneurs, their families and their communities will forever experience the wealth, legacy and journey to success they established while on earth beyond a plaque engraved in a museum.
- Choices Beyond The Leagues Financial Advisors Advice: It is known for financial advisors in the leagues to promote the consistent avenues that ultimately make the league richer, however, the presence of management team and components designed to plan and prepare life beyond the game for athletes does not exist. We have even heard athletic financial advisors recommend that athletes not get married for the premise of retaining wealth as if it has not been the primary institution for wealth for centuries. They also state this and demand it of athletes without a premise or plan of investing beyond the institution of marriage.
- Marie Management Recommendation: The companies the athlete entrepreneurs build with us will exist beyond the influence of their brand and time spent in the game. No avenue of investing their contracted income is to be overlooked while planning for their lives, the lives of their families and the legacy of their work for future generations to follow.
Athlete Entrepreneurs build businesses around their influence in order to invest their profits in programs that provide services to vulnerable populations.
With these implemented solutions our Athlete companies become equipped to scale in order to implement their philanthropic arms with the following new operations and management processes in the following places:
- Human Resources Systems
- Training and Development Programs
- Management Protocols
- Policies and Procedures
- Standard Operating Procedures
- Project Management
- Customer Relations Management Systems
- POS Systems
- Financial Management System
- Marketing & Advertising System
- Communication System
- Referral Management
Upon completion of streamlining and scaling the for-profit, Marie Management consultants began to build the philanthropic arm of the entrepreneurs choice (nonprofit, non-governmental organization, philanthropic arm, corporate responsibility program, private foundation, association or trust) with the following steps:
Step 1: Organizational Structure Development
Step 2: Board & Business Network Development
Step 3: Committee Development
Step 4: Program Development
Step 5: Strategic Planning & Logic Model Development
Step 6: Fund Development
Step 7: Outreach Strategy & Development
Step 8: Department Development
Step 9: Operational Systems
Step 10: Marketing, Advertising & Sales Systems