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What: Both Gerard Piqué and Alex Rodriguez have been in the news lately for bold and successful business ventures.
Why it matters: These athletes are paving the way for other Latin and Hispanic athletes to recognize that they too can find financial success outside of their sport both during and after their playing days.

Kobe Bryant made headlines recently for his Oscar-winning documentary Dear Basketball, and he has since been lauded as the next great athlete to succeed in business ventures beyond their own sport. Kobe is following the trail blazed by fellow basketball stars Michael Jordan and Magic Johnson in this regard, but it should be highlighted that two Hispanic and Latin superstars have been making entrepreneurial headlines of their own: Gerard Piqué (@3gerardpique) and Alex Rodríguez (@AROD).

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Piqué is showing that Hispanic athletes can also join the movement of athletes looking to become financial powerhouses.

Gerard Piqué: Soccer Star and Tennis Entrepreneur

Gerard Pique
Gerard Piqué: the world’s best defender and a leading entrepreneur (credit: TSM Plug)

Gerard Piqué is currently working on his master’s in business at Harvard University while also leading the charge to create the World Cup of Tennis, which will fill the hole that the Davis Cup leaves behind. Piqué is also a leader, writer, and ambassador of The Players’ Tribune Global (@PlayersTribune) initiative and has multiple other investments and business ventures. Apart from these impressive initiatives, he’s taking FC Barcelona (@FCBarcelona) on the path towards winning an impressive double of LaLiga and Copa del Rey championships. The usual path for athletes’ financial success off the field has usually been to develop their brand and social media appeal as much as possible and then lock up endorsement deals that net them revenue for appearing in commercials. Though Piqué strikes these types of partnerships as well, he is bucking convention by seeking unique opportunities in the market to grow different businesses. This type of entrepreneurship is more associated with someone who has been trained in finance all their life, but Piqué is showing that Hispanic athletes can also join the movement of athletes looking to become financial powerhouses.

Rodríguez has piggybacked off of his successful investment firm A-Rod Corp to create space for himself on a channel that usually shows coverage of the New York Stock Exchange.

Alex Rodríguez: A New Type of Television Personality

Alex Rodríguez has become a business mogul and has turned his financial prowess into his own CNBC show (credit: John Anderson, The Austin Chronicle)

Another figure making the most of his business instincts and intellect is Alex Rodriguez. He not only has garnered rave reviews as a host on MLB on Fox, but he is also the star and host of a new show on CNBC called Back in The Game. The premise of this show is that Rodríguez helps former athletes regain a hold on their finances. His MLB on Fox position, in which he offers truly insightful commentary and meshes well with his high-profile co-stars, is more in line with jobs typically associated with former athletes: broadcasting, coaching, etc. The CNBC show, though, is a new example for retired athletes, particularly those who are Latino, to follow. Rodríguez has piggybacked off of his successful investment firm A-ROD CORP (@_ARodCorp) to create space for himself on a channel that usually shows coverage of the New York Stock Exchange. Rodríguez has used the money he earned from his mega-contract with the Yankees not only to invest in fruitful ventures, but he is showing athletes, regardless of background, that they can take an active, responsible role in their financial success.

When a Latin or Hispanic athlete joins the ranks of the Billionaire Athletes Club, they will deserve much of the credit.

Inspiration for Other Latin and Hispanic Athletes

The biggest impact of athletes such as Piqué and Rodríguez will likely be seen years down the line. There will be a kid out there, though, in Barcelona, Miami, or elsewhere who will look at their examples and be inspired to not just work hard on their game, but also cultivate their mind and dream bigger than just ball. Motivation does not have to come from one type of source, but there is something to be said for being able to look up to someone out in the world who looks like you, sounds like you, and is breaking barriers that you did not know were possible. Whether it is through their own ventures or the inspiration the path they carved for others, when a Latin or Hispanic athlete joins the ranks of the Billionaire Athletes Club, they will deserve much of the credit.

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unnamedBusiness is all about competition among companies selling a similar product. A business has to stay ahead of the competition to survive. One way in which a company can stand out from the competition is through an excellent marketing strategy that not only attracts, but also retains customers. So what are some key parts of an excellent marketing strategy?

Market Research

If you want to take your business to the next level through marketing, you will need to understand who your competitors are. Conduct in-depth market research to identify their strengths and their weaknesses.

After your research, figure out the gaps that your competitors are missing and your customers need, then pursue them. You may have to re-brand your product, alter your pricing, or even change your target market. Once you have those strategies in place, you can identify the marketing vehicles that you will need to beat your competitors.

Excellent Website

The current generation relies on digital means to research and make purchasing decisions. For this reason, it is crucial for your business to have a user-friendly and attractive website. A site with these qualities shows that you’re a serious business, draws in customers, and it improves the customer experience when dealing with your brand.

Use your website to make it clear what sets you apart from your competitors. Research your competitors’ sites and find a way to be better. If your competitors have better websites than you, they will get the business.

Since websites are so important, there are many resources for business owners to create one. You have options, so choose wisely whether you can get by with a simple DIY site or if you need to hire a professional.

Own Your Online Presence

Another way to draw in your customers is to take advantage of social media platforms like Facebook, Twitter, and LinkedIn. When using social media, marketing experts recommend that you avoid sales pitches that may annoy customers rather than attracting them. Instead, create a community and a conversation about your product. Show your customers that your business is made up of people that care about them, rather than just driving the sale. Make sure to follow the conversation and address negative comments in a positive and professional manner.

Statistics show that visual content generates 50% likes when compared to plain content. It also increases click-through. Use video and images to take advantage of this trend. Combining visual and textual elements helps viewers process information faster, and people love fast. To take advantage of this, consider adding text overlays or captions on your images and use subtitling services to do the same for your video content.

If you want to take your business to the next level through marketing, you will need to understand who your competitors are

Useful Blogging

Maintaining a blog can position your business as the subject matter expert in your industry. To achieve this, make sure that your content is useful, timely and well-written. If you don’t want to manage a blog on your own site, partner with other influential voices and blogs that reach your target audience.

Know Your Limitations

Never ignore your strengths and or weaknesses when developing your marketing strategy. Just because a marketing trend works well for someone else or seems cool and cutting-edge doesn’t mean it will work for your business. Take stock of what makes you different and better, and go be different and better. Don’t force a strategy because it “should work.” Test things out until something does work.

Rome wasn’t built in a day, and neither is a good marketing strategy. It’s a learning process but it will pay off if you take the time to chase down the results that you’re looking for. Once you get it right, you’ll wonder why you ever doubted yourself.

Lee Flynn is from the Wasatch Mountains in Utah. After obtaining a bachelors degree from the University of Utah, Lee moved to the Salt Lake Valley where he now lives with his wife and daughter. While writing about media and marketing is a large part of his day job, Lee spends his free time teaching others to be self-sufficient through food-storage and disaster preparedness.