Millennial Investing - The Investor’s Podcast Network

MI Rewind: The Business of Sports w/ Dan Soviero

Oct 13, 2023

45:26

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Dan Soviero, an entrepreneur who dropped out of college and used equity crowdfunding, talks about his journey in becoming an entrepreneur, forming relationships with professional leagues, benefits of hiring athletes, and why equity crowdfunding is a good source for raising capital.

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Quick takeaways

Dropping out of college to pursue entrepreneurship can be a viable and rewarding path if one's passion lies outside of traditional education.

Forming relationships with professional leagues and becoming their exclusive provider can significantly enhance brand visibility and solve industry-wide problems.

Deep dives

Summary of the podcast episode

Dan Soveiro, founder of Signature Lacrosse, discusses his journey as a former Division 1 lacrosse player turned serial entrepreneur. Soveiro shares how he dropped out of college to focus on building his business and how he formed relationships with professional lacrosse leagues such as the National Lacrosse League (NLL). He also highlights the innovative products his company developed, including a premium lacrosse ball and a software and supply chain solution for youth sports programs. Soveiro discusses the benefits of equity crowdfunding and his plans for future growth and potential exit strategies.

Introduction

2min

From Lacrosse to Entrepreneurship

12min

Investing in Employees and Contemporary Art

3min

Becoming the Official Lacrosse Ball Supplier for the NLL

15min

Hiring Practices in the Sports Industry

7min

Upfront Costs of Equity Crowdfunding

5min

Raising Money, Business Approach, and Personal Habits

4min

Dan Soviero talks about how he decided to drop out of college and become an entrepreneur, how he used equity crowdfunding to raise money for his business, and much more.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

02:38 - Things to consider when deciding to drop out of college.

13:37 - What the NLL is and how it’s different from the MLL and PLL, which have now merged.

19:06 - How to form a relationship with the NLL and other professional leagues to become the official ball.

26:27 - What it means from a business perspective to be the exclusive provider or official ball of a sports league and what the strategy and goal are with a relationship like this.

26:27 - What Dan’s long-term goal with Signature Lacrosse is.

32:42 - What the benefits of hiring athletes are.

33:06 - How Signature Lacrosse competes in a competitive industry and what makes them different from other lacrosse equipment companies.

33:48 - Why choosing to do equity crowdfunding is a good source for raising capital.

47:21 - The habits or principles Dan have incorporated into his life that have lead to his success.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Lewis Howes’ book The School of Greatness.
Gay Hendricks’ Book The Big Leap.
Gary Vaynerchuk’s book Crushing It!
Lori Greiner’s book Invent It, Sell It, Bank It!
All of Robert’s favorite books.

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SPONSORS

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Connect with Dan: Website|Instagram | Facebook | LinkedIn

Connect with Robert: Website | Instagram

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