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10 Rules for the Elite Athlete – by Contributing Writer to Standing Above the Crowd, Greg Guedel #7

There have been so many wonderful contributors to my book Standing Above the Crowd and I thank them all so much.  My good friend, workout buddy and running partner Greg Guedel, who is an attorney at Foster Pepper Law Firm here in Seattle, WA wrote the following (this is not actual legal advice and Greg is not acting as your legal counsel, but common sense advice) to help professional athletes stay on top: before, during, and after their professional careers.
Please enjoy reading and considering the following if you have a potential professional athletic career in your future, or if you know of someone who does:

10 RULES FOR THE ELITE ATHLETE

Professional sports are a collection of multi-billion dollar industries, and the search for new talent gets more intense and competitive every year.  It’s not uncommon for scouts to begin watching promising athletes as early as middle school, and if you have elite talent you’ll soon find yourself with an ever-growing circle of “friends”.  A few of these people may be genuinely interested in helping you develop and achieve your potential, but most are simply out to get money – your money.

The word “Pro” is short for professional, and you need to approach your athletic career as a professional enterprise.  The moment you receive your first paycheck, you have created a business: “You Incorporated”.  Just like any other business, you must manage it intelligently in order for it to grow and prosper.  The following ten rules are collected from my experiences and the advice of my legal and business partners.  Following these rules will help you steer clear of the problems that derail careers, and give you fundamental principles for managing your success.

7.  Avoid business deals you can’t monitor yourself.  The minute you start getting paid, people will start offering you all sorts of “investment opportunities” – most of which are just black holes that will make your money disappear.  Forget about real estate deals in Costa Rica or starting a restaurant you’ll never actually eat in yourself.  Unless you are familiar with the business and have time to keep track of it regularly, just leave your money in the bank until you find investments that make sense for you.

Always keep in mind: nobody will care more about your career than you do.  It’s your responsibility to manage your career well.  If you stay focused on your goals and consistently work hard to achieve them, you will naturally find yourself standing above the crowd.

Standing_above_the_crowd

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