How To Transition From Athlete to Entrepreneur
“We come across so many women, minorities, young people, veterans and former athletes that lack the knowledge and support they need to start and grow a business” explains Dermer. “And there are so many companies, brands, charities and foundations that feel deeply about empowering these individuals, but lack an efficient way to deliver on that worthy promise. Our non-profit not only helps individuals, but provides these organizations with a ready-made way to empower the groups they wish to help.”
If you’ve ever watched ESPN’s series, 30 for 30 “Broke” you know many athletes year after year retire from professional sports, and end up just that…Broke.
How can that be considering the multi-million dollar contracts reported in the press season after season? Simple, the job and income stops but the lifestyle doesn’t. They often don’t know what the next chapter in their life should be, or how to achieve it. All they’ve known most of their life is sports. They don’t know how to manage their money, and most often haven’t learned another skill to take them to the next phase in life once they’ve left the stadium.
According to the NFL Players Association, the average career lasts 3.3 years. That means athletes experiences a quick influx of money (and fame) in a short period of time, with little guidance or gameplan for the future.
How do we bridge the career gap for athletes? Michael Dermer, founder of The Lonely Entrepreneur has the answer.
Dermer, published author and founder of The Lonely Entrepreneur website recently launched a non-profit division aimed at enabling organizations to empower athletes with entrepreneurial skills to help transition them from the field to a successful business career.
“ESPN’s 30 for 30 “Broke” really highlighted the critical need to empower athletes with the skills they need to succeed” noted Dermer. “They possess so many skills that make for successful entrepreneurs and if we can just add to those skills with some additional business acumen, we can make being a successful athlete and being broke a thing of the past.”
The Lonely Entrepreneurs Board of Directors is compromised of a dedicated team of individuals with commercial success and a commitment to giving back to the communities they serve.
“We come across so many women, minorities, young people, veterans and former athletes that lack the knowledge and support they need to start and grow a business” explains Dermer. “And there are so many companies, brands, charities and foundations that feel deeply about empowering these individuals, but lack an efficient way to deliver on that worthy promise. Our non-profit not only helps individuals, but provides these organizations with a ready-made way to empower the groups they wish to help.”
Dermer partnered with Former NFL player, Dale Moss to help athletes and minorities build a strong future by providing them with tools to become an entrepreneur, free of charge.
“ As an athlete you need to understand that everything you do is either publicized, monetized or scrutinized” noted Moss. “You are not only a brand, but a full on business enterprise at the pro level so having a thorough knowledge of growing a business can only protect you and position you to have success long after your career. There are countless revenue streams that can be generated and the best thing is that you have access and reach most people cannot attain.”
Learn more about The Lonely Entrepreneurs Learning Community by visiting their website.
