Mark stresses that in any business the only thing that matters is the bottom line.  More so in running a major sports franchise, your team has to win because it has a trickling effect all the way down to the fans. Without wins fans have nothing to cheer for because they want to become a part of something.  Winning cures everything and finding out the formula for success in any business takes time. In any business endeavor you have to be committed, focused and put in 100% effort in order to have success.  More importantly Mark stresses to find out your strengths and find great people that compensate for your weaknesses.  More so he focuses on using transactional value to cash.  Stating to pay off all debts then look at your options.  By having no debt you are put in a better position, by paying everything in cash, you can always negotiate.  Mark also talks about investing in you, and looking at investments in startups compared to the stock market.

The second individual I would like to talk about is Daniel Snyder who is the current owner of the Washington Redskins, owner of Dick Clark productions, and investor in Red Zebra Broadcasting.  Snyder first made his mark in the business world when he and his sister Michelle founded a marketing company, Snyder Communications LP that focused on different faucets of marketing.  Eventually through mergers and acquisitions Snyder Communications was sold to a French Advertising and Marketing Group for $2 billion.

Upon reading various articles about Daniel Snyder, he discusses one must think outside the box and really look at different areas to capitalize in.  An example would be his Washington Redskins; beyond that what other revenues streams can organically come from this.  Is this through sponsorships, marketing, television etc.?  Investors want a thorough explanation of projections and how you are going to meet them.  By having a detailed game plan and keen sense of where the investor is coming from, can determine ultimately if you will receive financial backing at all.

Business Plans can be challenging and overwhelming but by clearly defining what your goals and plans are, can determine how successful your business starts off. More importantly learning from successful entrepreneurs and the mistakes they made can also cut the learning curve and future headache.  By implementing some tried and tested knowledge will prove dividends in the long run.

I’m sure at one point or another we all have seen the movie Jerry Maguire starring Tom Cruise that gave an insider look on what exactly happens in the sports agency world.  Just to give the readers exactly how it works and some of the cost incurred in starting this new endeavor, I wanted to give a breakdown of the cost.  First the NFLPA made it a few years back that if an individual wanted to sit for the agent certification exam they would need an advance degree whether it is a Law Degree or a Master’s Degree.  Check out https://www.nflplayers.com/About-Us/FAQs/Agent-Certification-FAQs/; secondly, pay a one-time fee currently $2500 last year $1650 for the agent application, test, and background check.  Then one must pay NFL annual dues $1200 for 10 or less active players and $1700 for 10 or more.  Lastly one must get professional liability insurance, which can run roughly $1000 a year.  After looking at the added cost this definitely adds up and can be highly expensive starting this new career path.

But with the bad there is some promising information as well.  A common misconception about becoming a sports agent is that your sports agent salary is dependent upon player contract negotiations.  In actuality you can build your salary in a variety of ways by offering different services including endorsement opportunities, financial planning, personal appearance and many more.

Naturally, everyone wants to know how much their sports agent salary will be and this depends on the athlete client(s) you sign. Major league sports are big business and the following table contains realistic annual salaries for high-end clients. It is common for successful sports agents to make well over $1,000,000 per year, all it takes is one solid client and you can have a rewarding sports agent career.