5 answers
Isaiah
Student
Rock Hill, South Carolina
1
Question
Asked
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How do I start my business?
How would I start a sports media business? What would be the best way to market it? And where would be the best place to start?
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5 answers
John Rooney
Consultant
56
Answers
Denver, Colorado
Updated
John’s Answer
Hey Isaiah! I think the first thing to do is decide what type of media you're interested in producing, many media companies today are primarily focused on social media or videos, but there are still plenty of companies that do print media (like newspapers and magazines) or written media online (like Pro Football Talk); there are even more options like radio, too! Once you decide that, I think the best thing to do would be to get experience in that form of media: either make your own videos, social media posts, or write articles. Then try to work with professionals that already work in the field to get more information. These professionals will have experience to guide you further in your journey as an entrepreneur!
Rebecca Tang
Banking
1817
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to be an entrepreneur and decided to enter Sport Media business.
Firstly, there are already a lot of sports media and the competition is vigorous. What do you think about your competitive advantage and how do you differentiate from the other competitors?
Below are my suggestions:
1. Attend classes on media and sports
2. Do industry analysis, e.g. market competition status, major players in the market, etc.
3. Work in the industry some time to understand the business model and establish people network
4. Start online first
Hope this helps! Good Luck!
Firstly, there are already a lot of sports media and the competition is vigorous. What do you think about your competitive advantage and how do you differentiate from the other competitors?
Below are my suggestions:
1. Attend classes on media and sports
2. Do industry analysis, e.g. market competition status, major players in the market, etc.
3. Work in the industry some time to understand the business model and establish people network
4. Start online first
Hope this helps! Good Luck!
Matthew Bavar
Data Scientist
1
Answer
Guntersville, Alabama
Updated
Matthew’s Answer
Hey Isaiah!
One of my long-term goals is to own my own business one day, too! I actually majored in Entrepreneurship/small business management in college so I'd have a basic understanding of how to run a business in the future. Some of the biggest takeaways I took from those classes were about funding the cost of your start-up, how to identify potential investors..("Angels"), and a heavy focus on how to build a solid business plan. I think knowing how to put together a great business plan can help you answer the questions about "how" and "where".
I also think you have a fantastic advantage living in a state with big sports teams...(NFL, NBA, NCAA College Football). The college I went to had a larger sports program, and I know that there were a number of jobs in the athletics department for students looking to get some experience in sports-related careers. If you're looking for ideas on where to get started, I'd check out some of the colleges near you with bigger/popular sports teams...(I.e., Clemson, South Carolina, etc). No doubt, they'd have similar program offerings.
Hope this helps!...Best of luck to you!
One of my long-term goals is to own my own business one day, too! I actually majored in Entrepreneurship/small business management in college so I'd have a basic understanding of how to run a business in the future. Some of the biggest takeaways I took from those classes were about funding the cost of your start-up, how to identify potential investors..("Angels"), and a heavy focus on how to build a solid business plan. I think knowing how to put together a great business plan can help you answer the questions about "how" and "where".
I also think you have a fantastic advantage living in a state with big sports teams...(NFL, NBA, NCAA College Football). The college I went to had a larger sports program, and I know that there were a number of jobs in the athletics department for students looking to get some experience in sports-related careers. If you're looking for ideas on where to get started, I'd check out some of the colleges near you with bigger/popular sports teams...(I.e., Clemson, South Carolina, etc). No doubt, they'd have similar program offerings.
Hope this helps!...Best of luck to you!
Daniel Maynes
Credit Manager
187
Answers
Dallas, Texas
Updated
Daniel’s Answer
This is a great question Isaiah!
As you know Sports Media is an exciting and growing field. I would start by attending a university that has this specific degree plan. I know most universities have this degree since I attended a small private university and they offered sports media as an undergrad degree. While obtaining your degree I would do your best to network in the field and see if your university has any connections with companies to let you intern for the summer. This is one of the best ways to not only grow your network but by interning you will learn valuables insights into the sports media industry. Once, you "have your feet wet" I would suggest the below 3 steps to help you start your own sports media business.
1. You need to register your business with the Secretary of State (SOS). Most businesses register in the state where the business is actually located (HQ Address). At the same time you will need to decide the entity type for your business such as a LLC, Inc, LTD. Make sure you register with a state so your business can operate legally.
2. Come up with a business plan. This would include items such as operations, location, capital/funding, vision/mission statement etc. You can easily get lost in the weeds on this part. Don't get caught up in details that you can figure out later. Think big picture and ask yourself what is your business really trying to accomplish? That is always a good starting point on a business plan!
3. Lastly, come up with different business goals and set dates when you want to accomplish them. Setting a timeline will help you stay on track and know where you are in the process. It is very difficult but don't let yourself get caught up in the whirlwind of the "day to day." Meaning, set yourself and the business up with clear goals and do your best to not let the "daily fires" use up all your time. Inadvertently, you will have to attend to some of these daily fires but make sure you block off time to keep the vison of the company alive.
Out of the many business books I have read, if I could only suggest two books to you, it would be the books below. Hope these thoughts help and good luck on the journey!
Read Dream Big by Bob Goff
Read the The 4 Disciplines of Execution: Achieving Your Wildly Important Goals by Chris McChesney, Sean Covey, and Jim Huling
As you know Sports Media is an exciting and growing field. I would start by attending a university that has this specific degree plan. I know most universities have this degree since I attended a small private university and they offered sports media as an undergrad degree. While obtaining your degree I would do your best to network in the field and see if your university has any connections with companies to let you intern for the summer. This is one of the best ways to not only grow your network but by interning you will learn valuables insights into the sports media industry. Once, you "have your feet wet" I would suggest the below 3 steps to help you start your own sports media business.
1. You need to register your business with the Secretary of State (SOS). Most businesses register in the state where the business is actually located (HQ Address). At the same time you will need to decide the entity type for your business such as a LLC, Inc, LTD. Make sure you register with a state so your business can operate legally.
2. Come up with a business plan. This would include items such as operations, location, capital/funding, vision/mission statement etc. You can easily get lost in the weeds on this part. Don't get caught up in details that you can figure out later. Think big picture and ask yourself what is your business really trying to accomplish? That is always a good starting point on a business plan!
3. Lastly, come up with different business goals and set dates when you want to accomplish them. Setting a timeline will help you stay on track and know where you are in the process. It is very difficult but don't let yourself get caught up in the whirlwind of the "day to day." Meaning, set yourself and the business up with clear goals and do your best to not let the "daily fires" use up all your time. Inadvertently, you will have to attend to some of these daily fires but make sure you block off time to keep the vison of the company alive.
Out of the many business books I have read, if I could only suggest two books to you, it would be the books below. Hope these thoughts help and good luck on the journey!
Daniel recommends the following next steps:
david kirk
Retired Computing Manager
478
Answers
Syracuse, New York
Updated
david’s Answer
First, be sure that you are in a community with a strong sports focus. You also need to do research on what teams they favor, and you also need to gather information on the average income in the community for the type of products you may want to sell. A good approach would also be to negotiate with local colleges to get their approval for you to create and sell merchandise with their approval. That would require they get some payback on the sales, but that also frees you to develop unique merchandise with their school insignia. Many shopping malls offer kiosk space inside and you could rent such space to get started. Be on the lookout for sports-related events that may allow vendors, and any fair or other public outing may be an opportunity to have a booth to sell items.