On the flip side imagine him losing $5000.00 and still being able to pay the bills by flippin' burgers....
I actually agree with the concept but in reality... Many don't agree even if they are making millions via just two celebrity examples out of hundreds. Please explain why someone making millions and has star status will need to supplement their million dollar incomes by doing underwear commercials, someone else starting a perfume company, someone else starting a landscaping firm, someone else side gig as a professional motorcross racer, someone else selling real estate (condos) et cetera... All already making millions as celebrity athletes with an existing source of incredible income. Are they paranoid, true capitalist, greedy, volunteer work, boredom or being advised to have a backup plan or what ??? Heck, even old Warren Buffet has an occasional garage sale where he's actually selling for cash to get rid of old junk he's accumlated in his house. Surely a guy like that doesn't need pennies and dollars he gets from the locals stopping by to pick through his stuff he has put out at the curb with a for sale signs. With that said, I have no clue if the OP is losing money or not because he didn't specifically state such in his first message. P.S. My neighbor a high ranking military officer owns a popular local garage repair business (he has employees). Mark
Anybody guessing how much Michael Vick was making on the side via his dog fighting business ? I heard between 30k - 100k per year until he forgot to pay someone. Mark
That's a really bad analogy. Top professional athletes actually make more money from endorsements than from their sports winnings/salary. Nonetheless, it is always a good idea to have a plan B or C.
Not all...but some do. The two specific examples I mention did not although they did make a bundle on the side via such. However, Mr. Jordan was once asked why he did it when he wasn't under contract to do such... His reply... "It may open the door to other opportunities". Maybe Nike folks thought he looked cute in those underwear. Regardless, many top athletes do in fact have businesses on the side that are not related to endorsements nor contract obligations... Reason why I made such an example. What about other celebrities such as hollywood (actors and actresses) that have successful businesses on the side or businesses that have failed while they are stars making millions... Those too are not endorsements nor contract obligations. P.S. Too bad Mike Tyson didn't have a real second gig of a job after boxing went down the toilet. Maybe George Clooney will hire Tyson at one of his resturants, production company or fashion design company. Mark
If you are an artsy craftsy kind of fella, it may be that body artist, just might meet those requirements. The tattoo parlors that I drive by seem to be open only at night. Tattooing would also seem to have a high level of interaction and you could meet new people. After all, you cannot just tattoo the same old tattoo on the same old person time after time. Where I live the number of tattoo parlors seems to have grown to be equal to that of the number of McDonald's.