How to Close Deals with Celebrities and Pro Athletes | Metta World Peace

Key takeaways

• Metta says athletes can mistake confidence on the court for the ability to succeed in any business. He recommends developing an investment thesis and having the infrastructure to evaluate opportunities.
• He entered business after his philanthropy became overwhelming and his nonprofit paperwork was not in order. He describes setting up a business with 10% of profits going to philanthropy.
• His current areas of focus include sports entertainment, consumer businesses, logistics, and healthcare. He says he formed his thesis by looking at sponsors in the arena and considering how sports affect business success.
• He says athletes need to learn to say no to requests and opportunities. In his experience, saying yes to everyone did not help create generational wealth.
• Metta advises evaluating whether a potential partner's working style fits your own. He says an entrepreneur and someone who expects an employee role may not work well together.
• He says athletes should save and invest while also making use of their likeness and charging for their services. He cautions against spending principal when investment income can be used.
• He describes athletes as interested in real estate, including multifamily opportunities and land. He also says crypto is a common topic, while data centers are less widely understood.
• He warns that unsolicited messages and links can be risky. He says he researches contacts through his team and prefers meeting in person before investing.
• Metta emphasizes collaboration and teamwork in business. He says he works best within a team structure where people share a plan and can keep moving without waiting for him.
• He credits conditioning for helping him compete in the NBA. He says his training focused on defense, while players such as Kobe Bryant spent more time working with a basketball on offense.