From Athlete/Entertainer to Entrepreneur: How to Create Lasting Legacies

In today’s world, athletes and entertainers are not just seen as icons in their fields—they have the power to leverage their fame, influence, and platforms to create businesses, philanthropic efforts, and ensure career longevity. By diversifying their income streams and using their status for more than just personal gain, sports stars and entertainers are laying the foundation for long-lasting legacies that go beyond their primary careers. Here’s how athletes and entertainers can evolve from being stars to successful entrepreneurs, creating lasting impact in multiple arenas.

1. Building Businesses Beyond the Field or Stage

One of the most powerful ways athletes and entertainers can create lasting legacies is by venturing into entrepreneurship. Many athletes and entertainers have successfully launched their own businesses in various sectors, from apparel to tech, wellness, and food. The key to success lies in identifying what excites them, where their passions intersect with market needs, and using their personal brand to elevate the business.

For example, LeBron James’ media company SpringHill Entertainment has expanded into television and film production, creating content that resonates with his values. Similarly, Serena Williams has successfully launched a venture capital firm, Serena Ventures, which supports startups founded by women and people of color. These businesses not only provide athletes and entertainers with a long-term income stream but also position them as forward-thinking entrepreneurs with influence in diverse industries.

Tip: Athletes and entertainers should consider launching businesses in industries they are passionate about, using their platform to amplify the message and bring attention to their ventures.

2. Philanthropy: Giving Back to the Community

Using their platforms for philanthropy has become a significant way for athletes and entertainers to create a meaningful legacy. Whether it's building schools, funding scholarships, supporting mental health initiatives, or providing resources for underserved communities, athletes and entertainers can give back in ways that align with their personal values. Not only does philanthropy make a tangible impact, but it also cultivates a positive public image, which can enhance their brand even further.

Take, for example, The LeBron James Family Foundation, which has provided scholarships for thousands of students and opened the “I PROMISE School” in Akron, Ohio. Similarly, athletes like Colin Kaepernick and Dak Prescott have raised awareness around social justice and mental health issues, using their platforms to advocate for change. This not only builds their personal legacy but also strengthens their influence beyond the spotlight.

Tip: Philanthropy can also serve as a powerful business tool, allowing athletes and entertainers to collaborate with other like-minded organizations, brands, and causes to amplify their impact.

3. Building Career Longevity through Brand Partnerships

An athlete’s or entertainer’s career is often relatively short-lived in terms of peak performance, but their influence can last a lifetime if they build a strong, sustainable brand. Strategic partnerships with brands can extend an athlete’s or entertainer’s reach and boost their income, while also contributing to their legacy. These collaborations can range from endorsement deals with major brands like Nike, Adidas, or Coca-Cola, to creating their own branded products or service lines, like Michael Jordan's Air Jordan sneakers or Rihanna’s Fenty Beauty.

The key to success in these partnerships is authenticity—aligning with brands and causes that reflect their personal values and vision. This ensures that their collaborations resonate with their audience and build trust over time, contributing to their career longevity long after they retire from their sport or entertainment career.

Tip: Athletes and entertainers should focus on collaborations that enhance their personal brand, are true to their identity, and resonate with their audience’s values.

4. Content Creation and Media Ventures

With the rise of digital platforms like YouTube, Instagram, and TikTok, athletes and entertainers can now control their narratives and build their own media empires. By creating content that aligns with their personal interests, they can engage with their fans in new and innovative ways. This content can take many forms—from fitness and lifestyle vlogs to fashion and wellness—allowing stars to stay relevant even after their main careers begin to wind down.

For example, Dwayne "The Rock" Johnson has created a successful digital brand that spans across movies, TV shows, fitness, and his tequila brand, Teremana. His social media presence connects him directly with fans, while his business ventures show his entrepreneurial mindset. Similarly, athletes like Chris Paul and Russell Wilson have expanded into media and tech, positioning themselves as forward-thinking entrepreneurs with a broad range of business interests.

Tip: Content creation is an excellent way for athletes and entertainers to build personal brands that remain relevant and engaging, even after they retire or transition to new endeavors.

5. Mentorship and Leadership in the Industry

Beyond business ventures, another way athletes and entertainers can create lasting legacies is by giving back to their industries through mentorship and leadership. Sharing their knowledge and experience with the next generation of talent helps ensure the future of the industry, while also reinforcing their status as pioneers and leaders.

This can take many forms, from starting a mentorship program, to creating academies and training facilities, or offering advice through speaking engagements and educational content. For instance, Shaquille O'Neal has used his career success to mentor younger athletes and guide them on managing their wealth. His business ventures, ranging from real estate to technology, also reflect his belief in creating lasting financial stability.

Tip: Athletes and entertainers can leverage their wealth of experience to mentor young talents, offering both professional guidance and life skills that help others succeed.

Conclusion

Athletes and entertainers have a unique ability to transcend their primary careers and build lasting legacies that span business, philanthropy, and leadership. By diversifying their ventures, aligning with causes they believe in, and using their platforms to make an impact, they can build a brand that thrives long after their fame in the spotlight has faded. The key to success is strategic thinking, authenticity, and leveraging their influence for the greater good—creating a future filled with opportunities, meaningful change, and a legacy that will endure for generations to come.

Ready to take your legacy to the next level? Let’s talk about how we can help you create a brand and business that lasts!