Money and Sports

Money and Sports

Filed under Finances, Money Saving Tips

Mar 27

It’s hard to imagine that our beloved sports are really nothing more than a business. Since sporting tickets are automatically put in the “entertainment” category on my spending report, we’ll say athletes are in the entertainment industry of sorts. They play a game for our entertainment. We pay to watch them do it. Simple business model. But there’s a whole lot more to it than that.

Sports is a multi-billion dollar industry. There’s a lot more to it than just selling tickets. Have you noticed that half the stadiums and arenas in the country are named after some corporation who bought the rights to it? Notice all the advertising at the games? How about player endorsements of products? Television and network contracts? Commercials on TV during the games?

As you can see there’s a lot of money that goes into sports. But what does any of this have to do with any of you? Simple, look at the sports business model and look at how much opportunity there is to create revenue. Can the same be said of your industry?

Suppose you are a pilot. Can money only be made by flying airplanes? How about teaching flight classes? How about an aviation blog? As a pilot, you know what pilots need, so why not design luggage for pilots? Just about anything related to flying or travel has been invented, but there’s probably a lot more good ideas out there, do you have one?

Suppose you are a chef. Can money only be made by cooking food? Can’t you also teach classes? Can you make a recipe book? Can you appear on cooking programs? Can you have a recipe sharing website? Can you experiment and create a new dish? Can you design some kind of kitchen utensil that could assist you and others?

Sports, like any other business, has a lot of ways to generate revenue. Whatever industry you are in, think of ways you can generate more revenue for yourself. There’s always a way.

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