Engagement Insider
Day three of the 2014 Business Management & Entrepreneurial Program began with a focus on social entrepreneurship. Discussions led by Notre Dame faculty and successful entrepreneurs emphasized that making a living and making an impact are not mutually exclusive, a concept that many players took to heart.
“When I came here, it was definitely because of my interest in social entrepreneurship. The [sessions] that dealt with that and showed how to be effective in it will be my biggest takeaway from this,” said Vincent Fuller, a 7-year veteran who played with the Tennessee Titans and Detroit Lions. He plans to pursue a venture to expand education opportunities in his hometown of Baltimore.
Rounding out the curriculum for the program was a deep dive into the fundamentals of finance and investing. From reading financial statements to understanding what to look for in investment opportunities, players got a detailed look at what it takes to make a business financially sound and appealing to investors.
Zane Beadles, offensive guard for the Jacksonville Jaguars, appreciated the wealth of information spanning the basics to more nuanced topics. “Having no formal business training, it was great for me to just learn basic business principles and be taught by people who are very good in that field,” Beadles said.
On how the knowledge he’s absorbed will play into his post-football career, he added, “Being around and talking business with people for a very intensive weekend, I learned a lot about myself and this has helped shape where I’d like to go in the future.”
After the last classroom sessions, players again separated into their teams and worked with mentors to complete the business plans being presented the next day. Although most players had just been introduced to the ideas a mere two days before, they joined forces to conduct research, construct the business plan, and refine the final pitch into a polished presentation for a panel of judges and potential investors.
“We walked into a room where they all knew each other, but they didn’t know what they were doing [for the business pitch],” said Dan Morrison, founder of Citizen Effect and one of the mentors for program participants. “We took DeMarcus’s idea and the team just came together, applied the information they’d learned over the few days, and created a very, very viable business plan.”
The idea he refers to is that of Denver Broncos defensive end DeMarcus Ware, who is developing a business plan for sports apparel and equipment aimed at increasing safety and reducing risk of neck and shoulder injury.
Participants also pitched business plans for a residential real estate company targeting temporary residents, a shock-absorbing shoe insole made of a proprietary rubber material, a southern-themed quick service coffee shop, and a farmland investment enterprise. Each 10-minute pitch was followed by 20 minutes of Q&A from fellow participants, mentors, and judges, giving each team a true feel for what it’s like to pitch a business plan to potential investors.
Combining classroom lectures with hands-on learning, the Business Management & Entrepreneurial Program aimed to set realistic expectations of what it takes to succeed in the business world and participants walked away with a solid foundation to pursue their next endeavors.
“The things I found most valuable were the teambuilding, the pitch presentation, and just learning how to look at a business and understand the components that make up a good business model,” said Andre Gurode, a 13-year NFL veteran currently with the Oakland Raiders. “It’s very valuable to learn as an NFL player. It’s very valuable to learn as an individual. So to come into this, talk to these professors, have one-on-one time to get to know them, and for them to be so enthusiastic to help us is something you can’t put a price on.”