The NIL Bootcamp
Top takeaways from Aisha Foy's The NIL Success Bootcamp
This special edition of The NIL Report newsletter features a review of The NIL Success Bootcamp which was hosted by Aisha Foy and included guests such as Sam Green, Rayquan Smith and more. Go here to learn more and sign up for the Bootcamp replay.
If you are an athlete and would like our team to help share your story, please DM us or email TheNILReport@gmail.com.
‘Must’ve Missed Something’
Long before becoming the ‘King of NIL’ and a Forbes 30 Under 30 nominee, Rayquan Smith sat in his Norfolk State dorm room scrolling on his phone.
Doing what many people do in their free time, Smith was stuck in a social media spiral when he realized that he kept seeing the same message.
Almost every other athlete was posting how they were pumped, excited or couldn’t wait for NIL to become legal the very next day.
But what was NIL, Smith thought?
“I must’ve missed something.” Smith recounted.
So he did quick research, studied up on NIL and knew that he wanted in. He wrote a prospecting script on who he was and why he may be a good partner for various businesses.
At midnight on July 1, 2021—when NIL was legalized by the NCAA—Smith direct messaged or emailed countless business representatives in hope of striking a deal.
Three people responded. Two rejections and one yes. His NIL growth exploded from there as he amassed over 60 deals in the next eight months and has done 80 deals overall.
Dubbed the King of NIL, Smith has worked with brands such as Eastbay and been interviewed by many including NBA legend Kevin Garnett. But it never would have happened without him taking the initiative.
‘All it takes is one deal’
During the Bootcamp, Smith mentioned how all it takes is one deal to change your life.
He stressed, however, deals will not just fall in your lap just because you are an athlete.
You will have to put in the work. Design a strategy, show how you can support brands and then have the ability to execute on creating content.
Keep it simple and do not overthink your content. Your life is the content; just film it.
No Overnight Success
The key is starting now. Even the biggest names like Livvy Dunne or the Cavinder Twins had to start small.
They focused on growing their audience one post at a time, engaging with their followers along the way before finally having that viral moment. The deals, of course, followed.
But everybody begins with a blank slate, everyone starts at zero.
Divine Sports & Entertainment sports agent Ryan Williams-Jenkins noted that as an athlete, you are a business entity. NIL paved the way for nearly half a million instant business entities within collegiate sports.
There are two steps to getting NIL deals.
Sports Court CEO Tariq Ahmad believes that first, you need to know your why; your purpose by answering these types of questions:
Who are you? What is your brand?
What is your vision for the future of what you want your brand to be?
What is your vocation, purpose or motivation?
Who are you serving?
What do you want your legacy to be?
This can change and evolve over time, but it will provide a solid foundation as you seek brand partners in the second step.
Becca Greenwell Wathen, who is the Strategic Partner Manager at Meta and runs their NIL Empower Program, says that she and other brands look for these traits other than follower count when selecting student athletes to be brand partners:
Content creation skills
Consistent social media use
Overwhelming Hustle; go above and beyond
Coachable
Clear Communicator
Timely & Responsive
When you know your why, it becomes easier to create content; engage with your audience authentically and communicate that message to brands to secure partnerships.
There is only one thing to do in between.
‘Having the Nerve to Press Record’
Sam Green’s biggest regret was not capitalizing during her time as a dancer while in college or in the NBA to grow her social media following.
While working as a video editor at ESPN, she not only learned how to create content but why some athletes have more social media success than others.
It is because their posts are multidimensional and they share many aspects of their story. Your audience wants to follow along, especially if you engage back.
Because of her dancing background and video expertise, Green has become Athletes’ Go To Content Creator in the NIL industry.
Two extremely interesting takeaways from Sam were that a) you do not need millions of followers to make large amounts of NIL money and b) a $50 user generated ad is often more effective than a $30,000 professionally produced ad.
She knows some athletes who have 2,000 followers, but are earning about $150,000/year because they have an engaged audience.
And it is not hard or expensive to create, produce and edit content.
That’s good because over 70 percent of NIL deals involve athletes creating content. You just need to be bold and put yourself out there.
[It’s all about] having the nerve to put yourself out there and press record.” Sam advised.
Then work to position yourself bigger to form long lasting partnerships and relationships with brands.
‘You’ll Spend Money Forever’
As you start earning money, you will soon realize that you will need a gameplan to manage your finances.
Rashad Campbell of Advance NIL recommends creating a separate NIL bank account where you put your earnings and set aside 40-50 percent for potential taxes.
He also advises to understand your own financial personality. Do you like to save or spend money? What are your goals? What do you like to spend money on? What are your true needs vs wants?
Once you understand this, it is easier to build good habits and be comfortable around money for the rest of your life.
This is why Pat Curran, an NFLPA Certified Agent and co-founder of Curran Sports & Entertainment, believes that NIL is the “best real life, hands on education opportunity ever.”
Habits done consistently will compound. It does not matter if it is working out, studying or making money moves. You will get stronger, more experienced and mentally tough over time.
NIL offers a different journey for everyone. However, the message is clear. NIL is achievable no matter your sport, background, follower count or tech savviness.
So long as you take the risk to start to build.