Why Athletes Should Think Like Entrepreneurs (Even in College)

Building a Business Mindset in the NIL Era

Introduction

The world of college sports has fundamentally changed. NIL (Name, Image, and Likeness) has transformed student-athletes from competitors into creators, influencers, and whether they realize it or not entrepreneurs.

For the first time, college athletes can earn significant income from their personal brand. But with that opportunity comes a new reality: you’re not just playing the game anymore, you’re running a business. And the earlier you adopt an entrepreneurial mindset, the better positioned you’ll be to maximize your earnings, build lasting value, and prepare for life beyond the game.

This article explores:

• How NIL athletes are already operating like businesses
• The mindset shifts that separate earners from entrepreneurs
• Branding, budgeting, and building long-term equity
• Examples of athletes building sustainable ventures in real time

1. NIL Made Every Athlete a Business

The minute an athlete signs an NIL deal, they become:

• A contractor (responsible for taxes and compliance)
• A marketer (creating value through their image)
• A brand (curating a public-facing identity)
• A business owner (making decisions that impact long-term success)

You’re no longer just an athlete. You’re:

• Booking appearances
• Negotiating contracts
• Creating digital content
• Managing cash flow
• Paying taxes
• Building relationships with clients (brands, fans, followers)

In short: you’re running a solo business. The question is, are you doing it strategically?

2. The Entrepreneurial Mindset: Why It Matters Now

Entrepreneurship is about more than making money. It’s a mindset.

Entrepreneurs:

• Think long-term
• Take ownership of their brand
• Invest in their development
• Adapt quickly to change
• Build systems, not just moments

For student-athletes, this mindset is key. NIL deals are short-term income, but the way you handle them can lead to long-term wealth.

Athletes who embrace this early will:

• Build stronger relationships with brands
• Attract better deals
• Avoid financial mistakes
• Create ventures that last beyond their eligibility

3. Your NIL Brand Is Your Business

Every entrepreneur has a brand and so do you.

Whether you’re a walk-on or a D1 starter, your social presence, community involvement, and media exposure all contribute to your NIL brand equity.

Ask yourself:

• What do people associate with my name?
• What values or causes do I care about?
• What kind of opportunities am I attracting or missing?
• Am I building a brand that lives beyond my sport?

Start thinking like a founder. Your content, partnerships, and communication should reflect a clear, consistent, and strategic identity.

4. Budget Like a Business

Too many athletes treat NIL income like free spending money. But entrepreneurs know: cash flow is everything.

Here’s how to budget like a business:

• Separate accounts for NIL income and personal spending
• Set aside 30–40% for taxes (NIL income is typically 1099 self-employment)
• Create a profit strategy: Save, invest, or reinvest
• Track all expenses (especially if they’re related to NIL, these may be deductible)
• Pay yourself a salary if the income is consistent

Entrepreneurs don’t spend everything they make, they build with it.

5. Structure Your NIL Like a Real Business

Want to be taken seriously by brands, agents, and financial institutions?

Form a legal entity. Many top athletes are creating:

• LLCs (Limited Liability Companies) for NIL income
• S-Corps for tax optimization (with the right income level)
• Trademarks for slogans, logos, or signature content

Benefits:

• Legal protection
• Tax advantages
• Easier to track income/expenses
• Adds professionalism in contract negotiations

This isn’t just smart, it’s strategic.

6. Real Athletes Doing This Right

🏈 Bryce Young (Alabama → NFL)

Built a brand as a high-character, community-focused leader. Partnered with Nissan, Cash App, and others, while staying humble, structured, and intentional.

🏀 Haley and Hanna Cavinder (Miami)

Leveraged their twin dynamic and TikTok presence into a media business, podcast deals, and long-term branding strategy.

🏐 Lexi Sun (Nebraska Volleyball)

Created a volleyball clothing line and trademarked her name while still in college, building a product-based business from NIL momentum.

These athletes didn’t just take deals, they built infrastructure.

7. Think Beyond Endorsements

Endorsements are just one stream of income. Entrepreneurs diversify.

Other business opportunities athletes should explore:

• Merchandising (personal apparel, fan gear)
• Training/coaching services
• Speaking engagements at high schools, camps, or conferences
• Media/content creation (YouTube, podcasting, courses)
• Equity deals with early-stage startups or small businesses

When your personal brand is strong, you can go beyond selling posts, you can sell solutions, education, and experience.

8. Build Your Dream Team

Entrepreneurs don’t do it alone and neither should athletes.

Your team might include:

• A legal advisor (for contracts and trademarks)
• A financial planner (for taxes, budgeting, and investing)
• A business mentor or coach
• A marketing advisor or content strategist

Having the right team means you don’t just work harder, you work smarter.

9. Start Thinking About Exit Strategies

The best entrepreneurs plan for what’s next. For athletes, that means:

• Life after college (and NIL eligibility)
• Transitioning to the workforce or pro leagues
• Using your NIL momentum to launch a career

Build assets that don’t depend on your playing time.

Your name has power, create something that lives after the buzzer.

10. Final Thoughts: You’re the CEO of You

NIL didn’t just give athletes more money, it gave them more responsibility.

If you’re earning, you’re already a business. If you’re branding, you’re already a marketer. If you’re negotiating deals, you’re already in sales. So the question isn’t if you should think like an entrepreneur.

It’s: How well are you running your business?

Need help turning your NIL earnings into a real game plan? Let’s talk.

We help athletes build financial systems, brand strategies, and long-term growth plans that last beyond college.