NIL - What Is It?

???NIL (Name, Image and Likeness), it’s like your personal brand.?So, never before have high school kids been able to get out of high school, and move into college, making money, in addition to a scholarship.?So, name, image and likeness are getting paid for just that.?It could be as much as putting your name on a jersey, putting your name on a shirt, and it’s subtracting brands who want to pay you.

????NIL deals can come in many, many forms.?It can come in trade.?It can come in as different restaurants.?So, once a week you can come in and have x dollars of food.?It can come in forms of just wearing somebody’s gear.?That’s a free thing, because they want their brand on you, and the more athletic you are, the higher profile you are, typically the more money we’re seeing athletes get.?The problem is, parents, you are being pummeled by agents and branding agencies that want to take huge commissions out of that.

????To recognize the value of personal brand.?Now, typically, you do that later in your life, as you become an entrepreneur, and you have a career.?Like, I have the Millionaire Maker brand.?I’ve been building this brand for over 20 years.?But, as now, a student athlete, 16, 17, 18, 20 years old, you’re the value of your hard work.?Your academic excellence, your leadership, your community service, all those things are going to matter, and mostly your position.

????High-profile athletes are getting more and more money.?There are people literally making millions of dollars, now that they can have their name, image and likeness.?They have to make a decision.?Some of them that I know of have to decide if they’re going to take the money.?How they’re going to take the money, and how that affects them, if they actually go to the Olympics.?Because you’re not supposed to be a paid athlete.?There’s a lot of interesting discrepancies and conflicts that are going on.

????How do you make the money??Start building a brand.?Now, social media is typically Instagram and Twitter for athletes.?Those are where I’m seeing most of the brands being built, and you want to have a theme, a rhythm about what you’re going to talk about.?Your posts need to be consistent.?You need to really watch your reputation.?You need to have some content as part of it, and get followers, a lot of followers.?Manage the algorithms, so the channel could actually pay you.

????When you meet the requirements or criteria of the social channel, they can actually start monetizing that way.?But you want to be broader.?If you’re going to build a brand, and you want to see what NIL can do for you, you want to build your name, image and likeness.?You want people to be attracted to you.

????Another thing people don’t talk a lot about is charity.?What is your charity??Where are you giving back??Where are you contributing to in that community??All of that is going to make you more marketable in an NIL situation.?Building a personal brand is a choice, and here’s the thing I need you to think about, if you don’t make the pros, where are you going to take your personal brand?

????Are you going to then transition it into a career, just continue to build??I would say, yes.?I’ve been building a database since I was 21 years old, and then that following then went into a database.?Then I was highly monetized.

????So, how do you go out and get NIL deals??Well, you have to have one heck of an Internet presence.?So, keep it up to date, it’s got to be consistent.?You’ve got to produce content.?Your NIL deals need to go into a company.?If you’re not 18 years old, your parents need to own the company.?But the entity, the bank account, it’s an LLC, an S Corp, a C Corp, or limited partnership, here in the United States.?Which one??Depends on your state.?Depends on what you want to do.?Depends on your trajectory.

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