But I had a million dollars

We hear stories about professional athletes going broke and we shake our heads not understanding how someone could have a million dollars, sponsorships and bonuses and end up broke.  It just doesn’t make sense… or does it?

Let’s take a tiny little peek at the million-dollar contract…

Athlete signs a million dollar contract, but they only take home 500k, because of various federal, state and municipal taxes. 

Taxes – $500k

Agents work hard to negotiate the perfect contract for the athletes, so they must get paid , right? 4%-10% of the million-dollar contract will be paid to the agent.  If the athlete has a business manager, accountant or any other team members, they may get paid for their services first or on an ongoing basis.

Agent  - $100k

One of the first financial decisions an athlete makes, especially if they are not playing in their hometown is where they will live? Does the athlete buy or rent? This decision sets the tone for all other financial purchases.  Does the athlete get an affordable apartment until a budget is formulated or do they let pride kick in and purchase the biggest house in the neighborhood of the veteran athletes on the team (not considering the veteran athlete has been in the league for a while and has amassed the type of money to purchase and maintain a mansion). Most athletes will purchase the big home, thinking this is the beginning of my career and I will always be able to keep up these payments and it is what they have dreamed of when they signed the contract.

House  - $4k a month for mortgage on the new mansion $48k per year

Another big purchase that athletes make when they sign the big contract is a new car.  Now it would make sense to continue driving their current car or maybe a tiny upgrade to a newer model, but pride kicks in and they purchase a luxury custom designed car to impress onlookers and maybe even to prove to themselves that they made it.

Car – $1.5k per month $20k per year or $80k

What is left? Approximately, $280k for expenses and savings, but the athlete has not taken into consideration, that they are now the local bank.  Athletes are now an ATM for family members who gave up so much for them.  All of their friends expect them to pay ALL of the bills when hanging out.

Friends/ Family/ personal expenses – $180k (this is probably on the low end)

Keeping up with jones, pride to prove that you have made it to yourself and friends as well as not being able to say no leaves athletes who signed a million-dollars contract with approximately $100k.

We prepare our high school students for college, our college students to be executives and entrepreneurs, but we do not prepare our athletes for life as a professional athlete and beyond.  Athletes need to be physically prepared for life as  a professional athlete, but also mentally for the financial pitfalls, emotionally for the struggles of being in the spotlight and spiritually to be grounded and understand the need to giveback and impact the community. 

Let's prepare our athlete to win on and off the field.

Be Blessed,

A. Mayartis J.

Run Your Own Race

The goal of most runners in a race is cross the finish line first, however for some runners the objective is just to get across the finish line, no matter where they come in, in the race.  In life we need to look at our businesses the same way…Instead of trying to be the first to market, maybe we should take our time to perfect our service/ product and be the best that in the market. 

When you watch a race, most times runners are not side-by-side, they are at various stages... staggered along the course and although they are all competing they are also running THEIR OWN race.  As a runner you are aware of your competitors and are definitely trying your hardest to beat them, but you can only do what you can do.  How do we run our race in business staying aware of competitors and win?

1. Prepare for your race – When running a race for the first time or even as a seasoned runner, you prepare months in advance, so that your body can endure the journey.  In order to start our own business you need to have a clear and concise plan that gives you direction.  This also enables others to help you attain your goal.
2. Stay in your lane – If you are opening up a shoe store, but know nothing about finances or marketing then you need to bring someone in that will be able to handle that part of the race for you.   If you know your strengths and weaknesses you can bring in a trainer to help with the areas you are having difficulty.
3. Hurdles are a part of the race– If you fall during the race, because there was an unexpected hurdle… its not over get back up and continue.  Starting a business is filled with lots of surprises to stop you from accomplishing your goal, but when you find a hurdle in your way you have to jump over it the best way you can and keep on running towards your goal. 
4. Race Delay– There are various reasons a race could be delayed, but it is important that you are ready the moment the officials are prepared to start the race.  When starting a business there are also several things like finances, permits, inventory that can hinder you from beginning.  Even the memory of those issues can put additional hurdles in your mind obstructing you from doing your best.  Whatever the delay is in your race you have to shake it off and accomplish your goals.  You have prepared for this moment for so long, so do not let anything stop you.
5. Funding – Races can be expensive… entry fees, clothing and even transportation to the race, but if you have trained for it, part of your preparation is securing the proper financing.  Finances may be the one reason that you do not open you business, but you cannot let that stop you Educate yourself on the various was to finance a business and be diligent about getting the money.  If you continue to seek ways to secure funds the money will come.
6. Medical unit– If you are running your race and you get hurt you may need to go to the side and get a little medical help before you continue on.  In business if you are having difficulty it may be time for you to reach out to a mentor to get needed advice, so that you move your business forward. It may not be time for you to proceed with this business and you need to know and understand that as well.

These tips will help you stay strong and win your race, but at the end of the day you have to determine what winning is for you.  Is it beating everyone to market or across the finish line or is it crossing the finish line in your own time at your own pace.  Run your own race.

Be Blessed

A. Mayartis J

People Change

Your first love was absolutely perfect.  You met in high school because your lockers were next to each other and it was like a fairy tale come true… he was your best friend, she was the best thing that ever happened to you.  You were inseparable … you even planned your life out.

1.  Go to the same college, you would be a doctor and she would be a lawyer. 
2. Go to the same grad school or at least be in the same city.

3. Get married and then pursue your careers.  Life would be hard financially at                      first, but love would help you get through it.

4. Go buy the perfect house, have kids and live happily ever after.

This is what happened when you went off to college…

You both head off to the college of your dreams and at first it was continuation of high school, until the late night study sessions happened, which introduced each of you to new friends.  These friends brought new experiences into your life, which changed your perspective on the future you.  You still loved your high school sweetheart, but you were growing apart.  You weren’t really interested in being a doctor and spending all of that time in school, however, possibly teaching English in another country peaked your interest.  She still wanted to be a lawyer and was forging ahead, deciding what law school she would attend and avidly studying for the LSATS.  The question on both of your minds is…

Do we stay and fight for the love we had/have or do we move forward with our current dreams and see how your life unfolds?

There is a movie called Sliding Doors with Gwyneth Paltrow that illustrates how no matter what decision you make in life that you will end up in the same place.  One road is easy and the other is hard, but you choose threw various decisions, which one you take.

Although, we rarely think about relationships when developing our personal brand, it is quite a key element.  The person you interact with on a daily basis can either help or hinder the development of your brand.  If he/she is not supportive, jealous or blocks you in any way from achieving your dreams.. Are they the one for you?   On the contrary the partner who is your biggest cheerleader, harshest critic when necessary, could be the catalyst to surpassing your dreams or pushing you too far to fast.  You have to know yourself to know who is right for you and the longevity of your brand and your relationship.

Be Blessed,

A. Mayartis J.

I Challenge You

The 30-second drill was one of my favorite parts of basketball practice.  Those of you who have been tortured with the 30-second drill during a sports practice are probably raising an eyebrow and quietly saying to yourself, she is crazy, but I’m not.  I liked the 30-second drills because I knew that I just had to last 30 seconds and then it was over… or at least I got a break.  So when I joined gold gym and they introduced me to 30 second circuit training I really enjoyed it, because once again I did an exercise for 30 seconds and then I was onto another exercise that worked another part of my body giving the part I just worked a break.

I decided to challenge myself by taking the 30-second concept and making it 30 days. I have heard that if you can do something for 30 days you have the ability to make it a habit.  I did a little research and found out that 30 days to create a habit is a myth that came from a psychological article in the 1960’s.  However, even after the research I decided to test the 30-day challenge.  I began with the 30-day ab and squat challenge.  And guess what?  I finished it and I felt great.  I was able to successfully complete the 30 days because like the 30 second drills I knew that I only had to do x amount per day for 30 days and I was done. 

We can all do something for 30 days if we put our minds to it, but will we go past that designated time?

Day 31, I woke up and instead of getting up and doing my squats and ab work, I slept in because I finished my goal.  I was done and there was no need to continue. However, on day 32 I resumed my squats and ab work not because it was a habit, but because I began to see a difference.  To me what makes a challenge stick is not just doing it day after day, but doing it for a deeper purpose.  Yes I wanted defined and toned lower half, but the bottom line is I really want is to be healthy and if abs and squats are a part of that then so be it. So, I guess you can technically say it became a habit because I am still doing it, but my intensity is not as strong because there is no deadline.

I believe that we can all make something a habit and that a challenge is a great way to kick start it, but the challenge has to have a deeper purpose or we will either not finish it or not continue it after the challenge is over. 

I challenge you today to find something you want to change in your life to make your brand better and do it for 30 days, but only if there is reason that resonates with you beyond the challenge.

Just Walk Away

Are you willing to walk away…

        If the deal is not right?

        If the relationship is not what you want?

        If you are not being fulfilled by your job?

We often settle for things that are less than what we want or deserve because we are comfortable or they meet at least one need.  We have to think better of ourselves and change our mindset to one of excellence and start waiting for the thing, the person or the situation we are dreaming of.  You only have one life…STOP settling and start DEMANDING what you deserve.

I am in the market for a new-used car and I found the exact one that I have been dreaming about for the last several years(yes it is on my vision board).  The minute I saw it I imagined my sweetie pie and I taking weekend road trips.  I was in love…It met all of my qualifications:

• It was in my price range (Check)
• It was black (check)
• It was under 50k in mileage (check)
• It only had one owner (check)
• It was immaculate inside and out (check)
• Tires were new (check)
• It only had to pass one last requirement… my mechanic. 

My mechanic treats me like his daughter and he is skeptical of everything.  If it is not perfect he will not give his stamp of approval and since he takes care of all of my cars, I want his ok.  I said a little prayer while driving it over to his shop and as I stepped out of the car, he smiles and says… “Angela it looks nice” that makes me smile, because I feel like I am one-step closer to my dream car.  He checks out the inside and shakes his head in approval.  He pops the hood and starts to investigate. Then the words I was hoping not to hear, came out of his mouth “Angela this car is not good” I am screaming NOOOOOOOOOO extremely loud in my head as he shows me the well hidden water damage. 

I am CRUSHED. As I get back in the car to drive it to the dealer, I say to myself… I am getting this car no matter what he says. I want it, I deserve it and most importantly I am paying for it.  BUT after sitting in Atlanta traffic reality sets in… this man has been taking care of your cars for over 10 years.  He has never steered you wrong. If this car is not the best then he will end up fixing it and you paying for it.  I was so sad on the rest of the ride.

 

I got back to the dealership turned in the keys and just walked away.

I did not walk away with an attitude or even knowing there was another car waiting for me at a dealership down the street. I walked away with a smile and excitement knowing that when I do find MY car, it will be the best option for ME.  Not only will it meet my requirements, but it will surpass them.

If I am building my brand on excellence then I have to walk away when the thing I want the most that is being presented to me is not the best for me.

Are you willing to walk away?