May 10, 2024
Noah Lack
One of my favorite quotes of all time is from My First Million Podcast Host and Entrepreneur Shaan Puri,
"You can do anything, but you can’t do everything."
I am not sure that quote actually originated from Shaan, but the point is that I want all the famous athletes who are trying to build/invest in 40 different things outside of their sport running around like chickens with their heads cut off to see this.
Because why not? There are few rooms famous athletes can’t enter…
And there are amazing opportunities to build when you have some money and brand value; Clothing Brand, Production Company, Venture Capital Firm, Movie Appearances, Real Estate Fund, Dog Breeding Service, Speaking Appearances, Broadcasting, NFTs, etc.
Have a couple of meetings and you can be “involved” in any of these!
These athletes and their teams end up setting up multiple entities, and never achieve substantial success in any of them because each endeavor distracts the next.
If they chose one business to really establish themselves in, they would be thriving. But whether it’s ego, ignorance, or bad advice, everything outside of the main business objective is a distraction.
Not everyone can be Shaq or Lebron, AND THAT’S OK!
"A jack of all trades is a master of none."
An NBA Shooting Guard spends his entire life working to perfect his shot, so you’d like to think they focus on one business after they’re done playing.
But as soon as many athletes and their teams step outside of the sport where they mastered a role, in business they morph into superman 🤣
I am not saying you can’t have multiple entities and invest in different things. We all do.
But for athletes starting out in the world of business, I think best way to move up the ranks is to start out by building credibility and win in one space before expanding to the next.
Jeff Bezos did it (Books, became Amazon). Daymond John, did it (Hats, became FUBU). You should consider doing it.
Content creation (podcasting specifically). Grab your damn popcorn…
If you’re an athlete or a business manager reading this, what are you going to ruthlessly prioritize first?
Happy to chat it through at noah@athletesandassets.com
Want to be teammates? Please reach out to noah@athletesandassets.com to be apart of a community that is one of the first of its kind…
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