How to Break into the Sports Industry - A Comprehensive Guide for Young Entrepreneurs
Free Book Preview: Unstoppable
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Undeniably, the sports industry is growing by leaps and bounds. In India, apart from cricket, various other sports like Football, shooting are filling the arenas and drawing the larger audience with each passing event. Moreover, numerous prime universities are offering the graduate programs to harvest the finest students with degrees in sports management.
How big the sports industry varies by sources data. But if we take the average of key sources, then it is somewhere ranging between USD 900billion to USD 1.4 trillion. Like any other industry, it is brimming with fervour, euphoria, and huge disappointments. There is a myriad of young entrepreneurs who want to break into the sports industry to make a massive impact in the corporate world by elevating the level of sports.
If your goal is to get in there then here is the list of the significant points to stick on with.
Get Your Foot in the Particular Sport you want to promote
Presumably, the first and the foremost thing to do is to find out which sport you are deeply connected with and want to promote. When your aim is to establish a distinguished sports and event management company, passion and connection with the sport you want to promote is crucial. Along with a fully-fledged business plan, you must have a revolutionary vision to score big in this industry.
You should have a goal to create the promising market with innumerable opportunities for the players who are immensely passionate and striving hard for success. Once you step into the sport you want to promote, everything else will fall into line.
Find Appropriate Avenues and Associations to Support and Propel It
The best opportunities emerge when you connect with people who are already in this industry. You should attend as many sporting events and promotional gatherings as possible to get the clear picture of how the whole system operates. Approach the individuals who are doing extremely well in this industry and discuss your goals with them. The best advice comes out when you ask questions like a crazy.
One of the biggest challenges in the sports industry is to pack the arena and stadiums with the crowd. Study meticulously the business model of industry juggernauts, different promotion tactics, and pros and cons as well as opportunities that may open with the business. It is quite smart of an entrepreneur to allocate a puny budget for the sports events. Indeed a smart investment.
Attend Leadership Breakthrough Programs
Those who are looking to break into the sports industry, a leadership breakthrough program can mould you as a business leader who can deliver results. The breakthrough programs provide an unrivalled learning experience and global exposure which can accelerate the young entrepreneur’s career in this cut-throat competitive world.
The prime objective of leadership breakthrough programs is to catapult the aspirants and make them learn how to dig deep inside and explore the immense opportunities out there. The young entrepreneurs get to meet with icons of the sports industry and learn how the things work behind the scenes.
Play, Play & Play - Practise Makes You Permanent
‘You can’t hit the home run sitting on the bench’. If breaking into the sports industry and making big here is your passion, you should prepare yourself to take the risks often. Always be ready to take up the new challenges. Endeavor hard to associate yourself with the renowned and established brands in the sports business. The more collaboration you have, the more event you conduct, better will be the experience and outcome.
Always remember objective is to unwind the potential of the players and encourage them to showcase their talent. Blend the professional approach with the fun factor to make the event an enormous success. Your hard work and passion combined will reap the gargantuan results.
Use Social Media To Pole and Promote Business
Social media is a commendable platform to promote the business without much of a hitch and create a passionate, invested fan base. Haplessly, most of the organizations lack the understanding of social media users psychology and don’t know how to leverage the platform.
Social media allows the direct connection of the fan base and the sport’s organization. Not only it will connect the players with their fans but also renders an unparalleled level of audience engagement.
Somebody said it well ‘ why buy the cow when you can get the milk for free’. Social media is a great and cost-efficient marketing tool. With unique marketing strategies, you can develop your business into an iconic brand.Last Words - Each mistake can either be a great motivator or a stumbling block. It’s up to you, how you take it. Have an unflinching faith and you will be a successful sports entrepreneur.