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Month: October 2018

Franchising – Is it Right for the Money Smart Athlete?

Franchising – Is it Right for the Money Smart Athlete?

Just like any other business, franchising requires a serious commitment of both money and time.  Before buying a franchise, athletes need to consider all the pros and cons of owning a franchise in order to decide if the franchising option is the right one for them.  The International Franchise Association website (www.franchise.org) offers an abundance of tools to help aspiring franchisees decide whether franchising is right for them, the criteria through which they can select a particular franchise, and many…

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Social Entrepreneurship and how a Money Smart Athlete can help people through business

Social Entrepreneurship and how a Money Smart Athlete can help people through business

Becoming a successful entrepreneur and building your own business from scratch, during or after the end of your athletic career, is definitely something admirable. But that shouldn’t be your endgame. If you can combine your commercial skills with social issues, you can create positive changes in the society and improve the lives of people around you. This is the notion behind social entrepreneurship, a constantly growing field, which is gaining popularity and attracting lots of talented individuals and funds. Social…

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Be the CEO of Your Career

Be the CEO of Your Career

by Debra Russell   Money Smart Athletes Know They Are the CEO of Their Career Many athletes, particularly those in team sports, think of themselves as employees. You work for your team and your agent. And that may be true from a tax standpoint. But it is not how a Money Smart Athlete thinks. If, in your mind, you work for your team, then they have all the control. It is a much more powerful mindset to think of yourself…

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Internet based businesses as an option for the entrepreneurial Money Smart Athlete

Internet based businesses as an option for the entrepreneurial Money Smart Athlete

When preparing for your future outside of sport and trying to figure out how you will financially support yourself and your family after retirement from sport, you will have a few major decisions to make.  One of the most important decisions you will have to make, concerns transitioning your career to either being employed or starting your own business.  If you feel ready to take the risks associated with becoming an entrepreneur and decide that the world of business is…

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Business Fundamentals for Aspiring Money Smart Athlete Entrepreneurs

Business Fundamentals for Aspiring Money Smart Athlete Entrepreneurs

In previous articles, we’ve always stressed out how athletes have a unique career in the sense that it’s both short and rewarding, as opposed to an ordinary career path. As a result, as an athlete, once you retire, or even while you’re still a player, you have the time, money as well as the energy it takes to become an entrepreneur. Being an entrepreneur can mean several things but simply put, it means starting your own business and implementing your…

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The Athlete’s Second Career – Entrepreneurship or Employment?

The Athlete’s Second Career – Entrepreneurship or Employment?

Is entrepreneurship right for you?  In your post sports career you will have to decide between two main options:  Becoming an employee or an entrepreneur.  There are two main ways of making money; employment and entrepreneurship, working for yourself or working for someone else. You should focus on choosing which of the two options will make you happier and aligns with your dreams and goals.   No one but your self can tell you which one is the best option for…

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October 2018 Editorial: The Money Smart Athlete Entrepreneur

October 2018 Editorial: The Money Smart Athlete Entrepreneur

1 October, 2018   Entrepreneurship is a post sports career option chosen by a number of retired athletes.  Many athletes see entrepreneurship as an exciting challenge with lucrative wealth generating prospects; and it is, if you are someone who is a risk taker, likes to create, loves to work and does not mind being constantly out of their comfort zone.  The truth is that the qualities athletes develop throughout their athletic career are similar to those required when setting up…

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