Ever considered creating your own business now that NIL is here to stay? NIL has created so many opportunities for entrepreneurs passionate about sports marketing, athlete branding, deal negotiation and more! Whether you’re a current or former athlete, or just someone looking to break into this space, the journey to building a business in the NIL space takes effort, strategy, and time. If you’re a full-time student athlete or balancing a 9-5 job while growing your own business, be prepared to be patient. Here are 5 steps to help scale your NIL side hustle into your main job.
Building an NIL Business While Working a 9-5
Step 1: Educate Yourself
Timeframe: 1-3 months (ongoing as trends evolve). Start by building a solid foundation of knowledge. The NIL space is constantly changing, and staying informed is critical to your success.
- Learn the Basics: research NIL regulations, compliance rules, and trends in sports marketing. NCAA rules, state laws, and even school-specific policies can differ. Dedicate 1-2 hours per week to staying updated.
- Take Online Courses: platforms like Coursera, Udemy, or Skillshare offer affordable courses on branding, marketing, and negotiation. A basic course can take 4-6 weeks, with 2-4 hours of study per week.
- Tip for 9-5 Workers: listen to podcasts or audiobooks during your commute to maximize your time.
Step 2: Build Your Network
Timeframe: 3-6 months (ongoing throughout your career). In the NIL world, who you know is just as important as what you know. Building genuine connections can open doors to partnerships, clients, and collaborations.
- Attend Events: budget for NIL and sports marketing conferences in your area. Look for free webinars or virtual events if you’re on a tight budget. Attending 1-2 events per quarter can suffice.
- Leverage Social Media: dedicate 15-30 minutes daily to engage on LinkedIn, Instagram, and Twitter. Post relevant content, comment on others’ posts, and send personalized connection requests.
- Tip for 9-5 Workers: schedule your networking during lunch breaks or after work hours. Weekends are great for attending in-person events.
Step 3: Create a Business Plan
Timeframe: 1-2 months (can be revisited and refined). Your business plan is your roadmap. Without it, you risk wasting time and money chasing vague goals.
- Define Your Niche: are you focusing on brand management, NIL education, or deal negotiation? Pick one area to start, and expand as you grow.
- Set Goals: Break your plan into 3-month, 6-month, and 12-month milestones. For example:
- 3 months: build your website and secure your first client.
- 6 months: generate $5,000 in revenue and expand your network by 30 contacts.
- 12 months: transition to part-time at your 9-5 job or increase your business income to replace 50% of your current salary.
- Tip for 9-5 Workers: dedicate 1-2 hours every weekend to developing and refining your plan.
Step 4: Start Small
Timeframe: 6-12 months. Rome wasn’t built in a day, and your NIL business won’t be either. Start small to gain experience without overextending yourself financially.
- Offer Free or Discounted Services: volunteer to help local athletes or small businesses. Spend 5-10 hours per month building your portfolio.
- Use Affordable Tools: platforms like Canva (for graphics) and Wave (for accounting) offer free or low-cost options to manage your business needs.
- Tip for 9-5 Workers: use evenings and weekends to complete small projects. If possible, take a vacation day to focus on launching a key campaign or initiative.
Step 5: Develop Must-Have Resources
Timeframe: 3-6 months (can be built gradually)
To stand out in the NIL space, you need resources that make you look professional and credible.
- Legal Knowledge: partner with a lawyer or take an online course to understand contracts and NIL compliance. Building these relationships could take 3-6 months.
- Marketing Materials: a professional website and active social media profiles are essential. Set aside 4-6 weeks to build these, spending 1-2 hours per week.
- Tip for 9-5 Workers: hire a freelancer or use weekends to knock out tasks like website building.
How to Balance a 9-5 Job While Building Your Business
- Time Blocking: divide your day into chunks. For example, work your 9-5, then dedicate 7-9 PM to your side hustle.
- Batch Tasks: group similar tasks together. For example, dedicate one evening to social media content creation for the entire week.
- Stay Consistent: even if you only have 5-10 hours per week to work on your business, consistency will compound into progress.
Finally: Build at Your Own Pace
Building a business in the NIL space while working a traditional 9-5 is no small feat, but with determination and strategic planning, it’s entirely possible. Educate yourself, build a network, and start small while creating a clear roadmap to follow.
The most important factor is to stay consistent. Whether it takes one year, three years, or more to transition to being your own boss, remember that every step brings you closer to your dream. Time is on your side—use it wisely.