Business of NIL Episode 3: Athlete NIL Entrepreneurial Opportunities - Sportsfinda's Marketplace
NIL athletes

In the Business of NIL Episode 3 our guest and founder/CEO of the NIL network, Michelle Meyer speaks on the Entrepreneurial Opportunities for student-athletes. Athletes have many unique opportunities that have been a long time coming for them regarding NIL. Some of the opportunities that Meyer speaks on that athletes have are:

  • Starting your own business/Clothing lines
  • Providing services
  • Coaching camps/clinics
  • Giving private coaching/lessons

Along with that, time management is a very important aspect to keep in mind for student-athletes who are trying to get up and running and create something based on their name, image, and likeness. Some of Meyers’ tips on how to manage time in a sufficient way are to:

  • Take advantage of the summers 
  • Taking things slowly, and not over-doing it as it will take time to build your NIL

It is also important for student-athletes to realize how many resources and people there are when they are on their college campus, and to take advantage of the resources that are available in order to build a brand, business, or help whatever their goal may be. 

Being a full-time student, and a full-time athlete not only takes up a lot of time but commitment as well. These student-athletes undergo a lot of stress and a very hard work ethic along with a very busy schedule. So while they want to maximize their opportunities and make a profit while doing so, it is also important to have fun with it and open opportunities based on likeness as well. Some ways to do that can include:

  • Private lessons and helping/inspiring kids by teaching them 
  • Contests and or giveaways to get your name out there and gain publicity and likeness amongst fans of your team or sport, or even sports in general
  • Signing autographs or taking pictures with fans because the more the fans like you, the more opportunities you may get with sponsors and brands along the way

With all of the good that can come, there are some precautions that student-athletes have to take along the way to assure the best for them and that no sort of trouble occurs along the way. As Meyers’ mentions, an important thing for athletes to do is:

  • Know your contract inside and out to assure that you don’t do something that can break the contract and get you in trouble with the university or whatever it may be
  • Make sure to read the fine print, and if you are unsure about something, ask for help or advice to make sure there is no breach of the contract

An important thing for student-athletes that are beginning their journey down this new path to keeping in mind is that they are creating a business that can go on well past college. It is important to have strategic goals coming in, along with a business plan of what it is that you are really trying to accomplish and how you plan on doing so.

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