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| https://www.pinterest.com/pin/211174952996142/ |
Olympic athletes are in a unique position in
the United States. Four major sports (American football, baseball, basketball,
and hockey) have the American fan market on lock down and capture a large
majority of sports T.V. time. There are many theories to try to explain why
more Olympic sports have not made the popularity and profitability jump beyond
the Olympic cycle. It is certainly not for lack of excitement……take men and
women’s volleyball for example- high scoring, fast pace, and impressive
specimens of athleticism and grace! It’s not for lack of hard work and
dedication…..think rowing- where most teams are out on the chilly lakes of
America at 5:30 am everyday, rain or shine! And it’s definitely not for lack of
international success…..think about the track and field medal count every Games!
So why have some sports really taken off while others continue to struggle to
support their stars?
After
studying business for a few years, I now believe that a lack of successful application
of basic business principles could potentially have a lot more to do with it
than the sport or athletes themselves. In
a sport like American football for example, what began as a few individuals
motivated to find a way to make their passion for the game into something
lucrative, is now a multi-billion dollar industry, supporting countless jobs
from analytics, broadcasting, athlete representation, league management,
facilities, tickets, apparel, merchandise, to team ownership! Sport business
pioneers have transferred their own passion and love of sports to thousands of
others and created fans that have now become dedicated enough to back their
enthusiasm up with personal, hard earned cash (and a LOT of it!). This comes in
various forms, from tickets to memorabilia to opportunities to participate
themselves. From this success, a culture has been created around athletics in
America that all sports can benefit from if we recognize it as the opportunity
that it is and are willing to take advantage of it.
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| http://imgarcade.com/1/gatorade-sweat/ |
However, from
its ancient Roman beginnings to now, the Olympic Games have always had a stigma
around the relationship between athletes and money. This certainly doesn’t mean
that there is no money associated with the Games though. It is no secret that
billions of dollars flow through fans, sponsors, cities, broadcasters, etc.
every time the event is rolled out. So
why is it that many of the athletes are forced to work multiple jobs while
training just to put food on the table and pay rent. “Spirit of the Games” or
not, athletes have to be able to eat and live comfortably in order to be
successful on the court, field, or track.
After
studying business, I see that this is not simply a matter of athletes being
exploited. There is a lot we can be doing for ourselves to help capture more of
this value. We have a lot to offer. Our
talents and work ethics excite and inspire people. They want to see us achieve our goals because
they understand that what we are doing, very few people are capable of. They
see we are special and they want to associate themselves with us. Our primary
product is entertainment and, medal or not, we are all entertainers (Thank
you Sally Pearson!). In order to maximize our experiences and potential,
the fundamental motivations we had when we began participating in our sport as
children, should never be compromised.
But the bottom line is, when we graduated from Rec league and become
collegiate or professional athletes, sports becomes business. In order for us to ever have a shot at
funding our own training, we must be willing to shift our mindset and accept a
slightly new perspective.
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| https://twitter.com/usainbolt/status/490506648570433536 |
The sport
culture in America has elevated athletes from all disciplines to ‘Role Model’
status, increased corporate awareness of sports as a means of marketing, and
opened up more opportunities for lucrative television contracts for everyone.
The door has been jarred open. Recently, non-traditional sports have been
figuring this out and have begun to step through. Snowboarders getting
thousands of dollars doing sick videos to promote products, rock climbers
making their dreams possible through corporate endorsement, even unicyclists
and hikers have been able to leverage the sporting culture in America to appeal
to the masses and make money doing what they love. I went to business school to figure out how
they are doing this and if we as track and field athletes, can better utilize
the basic business principles of branding, marketing, and sponsorship to help
us realize our true value.
