From Athlete To Entrepreneur: Jay Dixon; 5 Work Ethic Lessons & Business Skills I Learned As A Professional Athlete

Self-awareness & Identity: Understanding one’s own strengths, weaknesses, and beliefs. This is the foundation for closing the identity gap for athletes.

As a part of our series about the work ethic lessons we can learn from professional athletes, I had the pleasure of interviewing Jay Dixon.

Jay Dixon is a seasoned expert at the dynamic intersection of sports and business. He bolsters an impressive track record as an entrepreneur, having founded three successful companies and actively participated in the sale of over 50 businesses of varying sizes. Jay’s expertise ranges from supporting research initiatives to providing strategic guidance for business owners. In Jay’s most recent endeavor, he established SuccessCoach.com, an elite accelerator tailored for athletes ​​who’ve left their playing days behind.

Thank you so much for doing this with us! Can you tell us the story of how you grew up and how it impacted the creation of your company and book?

My entire life was centered around football ever since I first put on a helmet. From those early days as a 7-year-old up until my D1 playing days at the University of Nevada, my entire identity was engulfed in the idea of being the best player that I can be on the field. I was dead set on making it to the NFL after my college years, but when that dream didn’t pan out, it was a huge blow to me and the path I envisioned for myself.

For a few years after graduation, I was completely lost. This was a truly dark time in my life because I didn’t know who I was without football being the main mission. When I decided to join the corporate world and moved up the ranks, I still didn’t feel fulfilled. I left that job and started my own HVAC company with just $7000 saved up and a credit card. Despite the gamble I took on my career, it paid off — as I was able to grow the company to 30 people in a short amount of time. Soon enough, I learned that I could actually sell the company for a profit and that concept of starting, growing, and selling business quickly turned into a burning passion.

From then on, I went all in on learning about private equity. I started a mergers and acquisitions firm in New York, where we sold companies at a value of $350,000 all the way up to $150 million. I sat in between 50+ deals and learned the ins and outs of how to get deals done with privately held companies. I’ve also founded three of my own companies during this time and became passionate about the process and grind of starting, growing, and selling companies.

However, finally finding my way in the business world, there was still something missing. I was successful on paper but I wasn’t fulfilled on the inside. I thought about that pain point in my life when I couldn’t figure out who I was and what I’d do with my life once football was out of the picture. I knew I wasn’t alone in that struggle. 90% of former athletes at the collegiate and professional level suffer from an identity gap once they retire from their sport.

Many of these folks feel their best days are behind them. However, what I found after years of building businesses and selling them is that an athletic career teaches you about how to operate, grow and succeed in selling a business. This realization is what sparked my company, SuccessCoach.com. We work specifically with former collegiate, professional, and Olympic athletes and transition them through their post-athletic journey. We do this by taking them through a process where they can learn to leverage their current skills and identity as athletes, and transition them into thriving business owners and the entrepreneur identity using a research backed mindset program and proven playbooks in business.

However, in order to have a broader reach and truly bring a national spotlight to this issue, I needed to put it in writing. I collaborated with a dear friend of mine, a psychologist at Harvard University, and we dove into research together — interviewing thousands of former athletes to discuss their struggles so we could illuminate those shared experiences through this book.

In the book, After the Game, we follow two characters in their post-sport journey and lost of identity and feel as their professional potential is lost, until they find a mentor who takes them through the mindset transition into elite entrepreneurs and the process of buying and growing a business, which yields the highest performing success rate for entrepreneurs and investors alike — much like what we do at Success Coach. The book details the struggles of overcoming the process of feeling stuck and discovering the mindset of a champion once again, but in the business world instead of the athletic world — which is the real struggle that retired athletes face every year.

What or who inspired you to pursue your career as an athlete?

Steve Young always inspired me when I was a child watching the San Francisco 49ers. He was a smooth left armed quarterback and mature beyond his years. Needless to say, he was one of the early adopters of transitioning from athlete into Private Equity and buying proven companies, a field I believe more athletes should consider learning about.

None of us can achieve success without some help along the way. Was there a particular person who you feel gave you the most help or encouragement to be who you are today? Can you share a story about that?

A mentor of mine, Brad Budde, a Hall of Famer, Lombardi Trophy winner, and legacy Kansas City Chiefs family, has been a great mentor to me and was particularly helpful to have as a guide of wisdom after I left behind my playing career. He was the one who initially inspired me to tell the untold story of what an athlete goes through once they decide to leave their sport. I remember he said to me, “Jay, you need to make the leap from success to significance in order to leave your mark. You need to focus on a higher meaning..” That stuck with me and made me realize that I need to really dial in what mark I want to leave in this world with my service. That was the wakeup call I needed to begin laying the groundwork for Success Coach and tell the story of the post-sport journey through my book, After the Game.

Can you share the funniest or most interesting mistake that occurred to you in the course of your sports career? What lesson or takeaway did you learn from that?

One of the funniest stories in hindsight is when Colin Kaepernick showed up on our campus. We all joked about how lanky and skinny he was. We’d say that he threw the football like a baseball pitcher and that there was no way he would be successful as a QB. During summer camp’s 7-on-7 practice games, we’d learn just how skilled and dynamic he was on the field because he had the ability to run the ball effectively, which would throw everyone off. It was a humbling experience. I learned the classic old tale of “don’t judge a book by its cover.” Of course, he grew a lot as a player from those college days and he’d go on to do great things in the NFL, something none of us expected when we first saw him play.

As an athlete, you often face high-stakes situations that involve a lot of pressure. Most of us tend to wither in the face of such pressure and stress. Can you share 3 or 4 strategies that you use to optimize your mind for peak performance before high-pressure, high-stress situations?

1. Focus for Flow State — Unlocking Peak Performance through Liberating Constraints

In the quest for peak performance, whether as an athlete or an entrepreneur, one concept is becoming increasingly acknowledged for its transformative power: the flow state. But how does one access this elusive state, where creativity meets productivity and time seemingly slows down? The answer lies in a focused approach to tasks, amplified by the concept of liberating constraints.

Understanding the role of focus in entering a flow state is crucial for anyone aiming for peak performance. By applying liberating constraints and understanding the neuroscience behind focus, you can create the conditions needed for flow to occur. Remember, peak performance is not a random act but a cultivated habit. Learning to wield your focus effectively is your first step towards consistently entering the flow state, elevating both your personal and professional life.

2. Power-Up/Power-Down Protocols — Mastering Self-Care

In today’s hyper-connected, “always-on” world, the practice of self-care has never been more crucial. It’s not merely about spa days or occasional mental health breaks. Self-care is a sophisticated, scientific protocol designed to maximize performance and minimize stress, essentially a user manual for human optimization. Power-Up Protocols: Ignite Your Performance

Physical Exercise

The research is clear: Physical activity releases a cocktail of endorphins that improve mood and boost energy levels. A regular workout routine primes the body for optimal performance, helping you face challenges with resilience and vigor.

Nutrition

What we consume has a significant effect on how we perform. Quality nutrients like Omega-3s and antioxidants can sharpen the mind, allowing for improved focus and mental agility.

Mindfulness and Meditation

Studies consistently show that mindfulness practices can increase concentration and decrease stress levels. This is your mental gym, where you train your mind to focus better and stay undistracted.

Power-Down Protocols: Rejuvenation and Recovery

Sleep

We cannot emphasize enough the importance of sleep in the recovery process. Your brain uses this time to clean up and sort information. Recent studies show that insufficient sleep can significantly impair cognitive function, whereas a good night’s sleep can dramatically improve memory, creativity, and problem-solving abilities.

Chronotypes

Understanding your chronotype can help you discover your body’s natural rhythm. Look into it! It’s the difference between being a night owl or an early bird. This knowledge can guide you on when to schedule high-stakes tasks and when to relax or sleep for optimal performance.

Nature Walks and Mindfulness

Spending time in nature has been shown to reduce stress hormone levels and improve mood. Combined with mindfulness techniques, a simple walk in the park can become a powerful tool for mental recovery.

Mastering self-care is like conducting a symphony. Each section — whether it’s Power-Up or Power-Down — plays a vital role. When orchestrated correctly, these elements lead to peak performance, emotional well-being, and a profound sense of fulfillment.

By adopting these scientifically-backed Power-Up and Power-Down protocols, you’re not just investing in your well-being; you’re also unlocking the door to human optimization. Welcome to the next level of your life.

3. Emotional Intelligence

The term Emotional Intelligence (EI) has been popularized by psychologist Daniel Goleman and has since become a cornerstone in understanding human interaction. In the world of business acquisition and entrepreneurship, emotional intelligence is not just a buzzword; it’s an essential skill set.

Having high emotional intelligence means you can recognize and manage your own emotions and understand the emotional states of others. This ability is crucial for effective communication, leadership, and decision-making. Just like a seasoned athlete who reads the field and adapts, EI allows you to read a room and adjust your behavior accordingly.

High emotional intelligence can set you apart in the entrepreneurial world. It’s like having a high ‘game IQ’ in sports; you’re always a step ahead, reading people and situations to make the most strategic moves. The good news? EI can be developed and refined over time, much like any other skill.

Can you tell us the story of your transition from athlete to a successful business person?

It was not an easy road by any means. When I first realized that I wouldn’t make the NFL, it was a hard pill to swallow. I worked my whole life for this one dream I envisioned for myself and it took a while for me to come to accept that I wouldn’t fulfill that dream of mine. I was living a very careless life, in and out of the hospital a few times before I finally got my head on straight and decided to get my life together.

Initially, I went the corporate route. Despite receiving a promotion within a relatively short time, the corporate world didn’t feel like the place for me — at least at the time. I needed to do something where I could actually leverage the skills I gained on the field — something that pushed me to be the best version of myself. I decided to throw all my savings into starting my first business, an HVAC company that I eventually grew to 30 employees. Once I sold that business, it was a championship feeling and I knew I found the game of business.

The new championship I was chasing was the ability to create a sellable business by growing the company into a thriving, profitable business and developing a team until it was worth something substantial to a potential buyer. This became my new passion. Each deal I conducted lit a fire under me as if I was back on the field fighting tooth and nail against the opposing team.

What are some of the most interesting or exciting new projects you are working on now? Can you share more about your upcoming book release for After the Game?

The most exciting project in my life at the moment is the work we’re doing at Success Coach. We have an upcoming cohort of former athletes who we are going to transition into Entrepreneurs by giving them the mindset and playbook to learn the ins and outs of business by equipping them with cash flowing companies and having them operate as the CEO and leveraging the growing pool of investors and private equity interest in this asset class to fund these folks. Historically, these opportunities have only been accessible to elite business school students.

I’m excited about this initiative because it’ll prove to more people what the data already shows — athletes operate businesses at 15% higher returns vs non-athletes, stay in CEO roles 17% longer, and use 12% less debt. Entrepreneurship Through Acquisition (ETA), as it is termed, is one of the most promising and timely routes available for athletes once they put their playing days behind them. We are witnessing the largest wealth transfer in history happening between now and 2040, with roughly $10 trillion dollars of businesses that will be seeking new owners during this time. The success rate for acquiring these businesses hovers around 70% and the average entrepreneur walks away with over $6m in equity, which means this playbook is critical for athletes to utilize this opportunity to achieve success after sports because they have the innate characteristics and skill sets from their lifelong pursuit of athletics to drive businesses and teams forward. I couldn’t be more excited to educate our tribe of athletes and put them on the path to success.

Do you think your experience as an athlete gave you skills that make you a better entrepreneur? Why?

Absolutely. The data is clear: the education an athlete gets from achieving the highest levels within their sport is some of the most valuable education in the world — if you understand how to apply it. In a world where businesses constantly seek innovative ways to enhance performance and thrive in a competitive landscape, athletes offer an unexpected source of inspiration and a level of discipline and dedication to a craft that most humans never experience.

Research has substantiated the direct impact of soft skills on the performance of organizations. Neff and Citrin (2001) asserted that 90% of success hinges on soft skills and just a mere 10% comes from hard skills. Additionally, Vasanthakumari (2019) recognized “soft skills attributes” to include values, motivation, behavior, habits, character, and attitudes. The world of sports, as shown by research-backed evidence, reveals a treasure trove of principles that can revolutionize the way businesses operate, innovate, and succeed. Studies indicate that athletes possess unique cognitive and neural advantages that extend beyond the playing field, impacting business dynamics in profound ways.

Entrepreneurs and professional athletes share a common “hustle culture”. Can you share your “5 Work Ethic Lessons That Entrepreneurs Can Learn From Athletes”?

1. Growth Mindset: Developing the belief that one’s abilities can be improved with dedication, effort and practice.
2. Self-awareness & Identity: Understanding one’s own strengths, weaknesses, and beliefs. This is the foundation for closing the identity gap for athletes.
3. Health Mastery: Prioritizing one’s physical, emotional, and mental well-being.
4. Success Mapping: Setting specific, achievable goals (goal stacking) and creating a plan to reach each of them.
5. Time and Energy Optimization: Effectively managing one’s time to maximize productivity and achieve goals.

What would you advise a young person who aspires to follow in your footsteps and emulate your career? What advice would you give?

I’d tell the young man or woman to focus their efforts on giving — give your time, your advice, and your positive energy. You will be amazed at how your personal journey and business success will thrive if you prioritize the act of giving to others because those acts of kindness will always come back your way sooner or later.

How have you used your success to bring goodness to the world?

As I said early, my mentor, Brad Budde, said this one simple statement that resonated with me. He said, “Jay, you need to make the leap from success to significance.” I left my last firm 2+ years ago as one of America’s leading M&A firms and began this pursuit to inspire my tribe of athletes, and fill that void that’s been missing since their playing days. By giving them the playbook for success after sports, I hopefully can inspire athletes to discover a new sense of meaning and purpose in their lives and that in itself brings significance.

I understand from first-hand experience how brutal the struggle is after the game, so to speak. I designed this program, from the playbook to the coaches and overall team, for athletes to have by their side to guide and support their journey so that they still can pursue their best days ahead of them. For me, it was such a hard journey after sports and I want to shrink the identity gap that we all feel once we leave the game behind. In doing so, I hope to inspire others to learn the game of business and understand how to apply their athletic education to this game and thrive in life. I left a successful company to pursue this mission because this is my way of spreading goodness and it’s how I want to leave my mark on this world.

Can you share your favorite “Life Lesson Quote”? Why does that resonate with you so much?

“Culture eats strategy for breakfast” — Peter Drucker.

This amplifies the lessons I’ve learned in business — that to be a great leader and thriving entrepreneur, you need to be a servant leader and focus on the needs of others before you consider your own. That’s the key to empowering others on your team and it allows them to see the success of the company as our collective success. In this dynamic world and the ever-evolving game of business, having a team you can inspire and develop lifelong relationships with outside of work is the most powerful way to drive business success.

We are very blessed that some of the biggest names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US whom you would love to have a private breakfast or lunch with, and why? He or she might just see this, especially if we both tag them :-)

Two people come to mind:

I would be honored to have a conversation with Mat Ishbia, the billionaire businessman and Phoenix Suns majority owner. Despite not achieving his NBA dreams as a college basketball player, he exemplifies how the skills and mindsets cultivated in sports can unlock success in business.As an entrepreneur who champions teamwork, grit and culture-building, Mr. Ishbia offers an invaluable perspective on the ingredients for excellence on and off the court. Though his playing career ended after college, the leadership abilities, competitive drive and work ethic he honed continue fuelling his ventures. Even without sports fame, he has built a thriving enterprise and fulfilled his goal of owning an NBA franchise.

I am eager to learn from Mr. Ishbia’s insights on translating the sports playbook into bold business moves and investments. As someone guiding athletes through that process of redefining their potential beyond their playing days, his advice would be invaluable. I aim to have an open and thoughtful dialogue on empowering more veterans to become values-driven leaders, employing the skills and mental toughness at which players already excel. There is tremendous untapped potential for them to replicate Mr. Ishbia’s journey from the bench to the boardroom.

I would welcome the opportunity to have a thoughtful discussion over breakfast with Roger Goodell, the Commissioner of the NFL. Having helped broker constructive agreements between players and owners in the past alongside an endorser of my book, DeMaurice Smith (fmr Executive Director NFL Players Association), he offers invaluable perspective on bridging divides and finding common ground.

As someone working to provide meaningful post-sports career guidance to players, I’m eager to explore win-win solutions that support their transition while benefiting franchises long-term. There is so much untapped potential when we reframe “success to significance” for all parties. With the right programs and opportunities in place, veterans can become valued mentors, owners can boost their community impact, and we can positively shape the next generation of leaders.

I aim to listen and learn from Mr. Goodell’s wisdom on conflict resolution and partnership. By working collaboratively, I believe we can make great strides for players, owners and fans alike. I aspire to have a thoughtful, solutions-oriented dialogue on empowering former athletes’ entrepreneurial identity and simultaneously enriching franchises’ legacy and values. There is much good to be done when we openly seek common ground.

This was very inspiring. Thank you so much for the time you spent on this. We wish you only continued success.