Navigating the New Normal: Challenges Athletes Might Face with NIL

In recent years, the landscape of collegiate athletics has undergone a significant transformation with the introduction of Name, Image, and Likeness (NIL) rights for student-athletes. While this change opens up exciting opportunities for athletes to capitalize on their personal brands, it also brings forth a set of unique challenges. Athletes should continue to learn about NIL, including the various roadblocks they could face as NIL earners. Below are valuable tips to help athletes navigate any problems they might face.

Navigating the New Normal: Challenges Athletes Might Face with NIL

• Craft Your Unique Brand.  What makes you unique? Is it your dedication, humor, or behind-the-scenes glimpses? This step is super important because it’s key to show your followers and prospective business partners how you stand out from the hundreds to thousands of athletes who play your sport and your position.
• Show the Human Side. As an athlete, your daily schedule is so busy, there is tons of content you can create from visits to the training room, a typical breakfast you’ll have, how you prep for an overnight game or tournament, and more.
• Visual Storytelling on Instagram. Instagram is a dynamic platform because there are so many ways you can share content and cater it to your audience.
• Tweet Like a Pro. A lot has gone on with Twitter over the past few months, however, it’s still a platform that you can utilize to build your brand and engage with your audience.
• Promote NIL on TikTok. TikTok has gained traction tremendously over the past few years.
• Consistency is Key.  This doesn’t have to be as hard as it seems, especially if you’re not accustomed to posting every day. You can utilize platforms like Hootsuite or Later to schedule your posts weeks to months in advance.
• Leverage Analytics. If you’re looking to earn NIL income, it’s important utilize the tools each platform provides to help you see what content is effective and what content is not. Use these analytics to understand what works and refine your strategy accordingly.
• Engage, Don’t Broadcast. Social media is a two-way street: engaging with your audience fosters a sense of community.
• Strategic Collaborations. Team up with other athletes, influencers, or brands. Make a list of potential collaborators that you would like to work with, what value you can bring, and the value it can bring to your brand.
• Stay Mindful of Your Image. Remember, your online presence is an extension of your personal brand. Be mindful of what you post, as it can impact your reputation both on and off the field.

Financial Literacy.  NIL opportunities bring financial benefits, but athletes must be diligent in managing their earnings wisely. Developing financial literacy skills is essential to make informed decisions about investments, taxes, and budgeting. Seeking advice from financial professionals can help athletes navigate the complexities of managing their newfound income. If you don’t have the funds to work with a professional, you can always hire a financial coach and take the time to self-teach yourself various money-related topics. As an athlete, you work hard for your money, so it’s important to use it to your advantage.

Time Management. Balancing academic commitments, training schedules, and now NIL responsibilities requires effective time management. Athletes should prioritize their obligations, set realistic goals, and create a schedule that accommodates both their athletic and entrepreneurial pursuits. Early on in college, I decided to use a planner to write down all of my athletic and academic commitments: practices, competitions, film, travel, exams, assignments due, etc. There is so much to juggle as an athlete, so being able to list out your ‘to do’ list not only helps you organize your work, but can also help you manage any stress related to a ton of tasks.

Social Media. Social media platforms play a pivotal role in building and promoting a personal brand. If sponsors, followers or companies don’t know you exist, it’s very hard to grow your business. Athletes should be mindful of their online presence, considering the potential impact of posts on their image and endorsement opportunities. Utilizing social media responsibly and strategically can enhance your marketability.

Handling Public Scrutiny. With increased visibility comes heightened public scrutiny. Athletes need to be prepared for the spotlight and develop resilience to handle criticism or controversies. Building a strong support system and focusing on personal growth can help athletes navigate the challenges of public attention. While I didn’t go to a big school, I was a DI athlete at my university. While it might not be considered ‘fair,’ I quickly realized how athletes are held to a different standard. I had to be mindful of how I conducted myself on campus, at the cafeteria, at parties, and other situations- especially when others are looking for you to fail. Now with the opportunity to earn NIL dollars, athletes are under an even bigger microscope.

Collaborating with Agents and Managers. Athletes may find it beneficial to collaborate with experienced agents or managers who specialize in NIL opportunities. These professionals can guide athletes through negotiations, contracts, and brand partnerships, ensuring that their interests are protected while maximizing potential earnings.

While NIL rights offer amazing opportunities for athletes, they also present challenges that require strategic navigation. By being savvy with various topics, athletes can position themselves for success in this evolving landscape. As the world of collegiate athletics continues to adapt, embracing these tips can help any athlete to thrive in the NIL era.