aifian: Scan invoices to earn rewards, easy to earn passive income artifact, join now and you will get $100 rewards immediately
Use my referral link when registering, and you can get 100 yuan in referral rewards! Go to download now👉 https://aifian.page.link/UYBw What are aifian’s ways to give back? With AIFI smart cloud storage data, you can easily earn more than 5% in passive income. Scan invoices to earn rewards, up to $50 per transaction.
In March 2020, the NBA announced its suspension due to the impact of the COVID-19 epidemic. Many players instantly lost their source of money and fell into trouble. "Many players came to me for consultation. As far as I know, about one-third of the NBA Most of the players are moonlighters." CJ McCollum, who was also the vice president of the players union at the time, said, "When I entered the NBA, I have been planning budgets and investing and managing money strategically, putting my eggs in different baskets, and studying hard. All kinds of financial knowledge, even if the market crashes, I will not suffer too much loss." At that time, the S&P 500 Index in the US stock market plummeted 20% and entered a bear market, but according to McCollum, his assets only lost 10%.
During the epidemic, McCollum did not stop working due to the interruption of the football season. Instead, he devoted himself to other business fields, ranging from real estate, podcast channels and other side businesses. "I immediately went into the office and devoted myself to other work to continue to generate income." McCollum is also involved. Recently, I have experimented with virtual currencies, including becoming a strategic partner of the cryptocurrency rebate platform StormX. "I don't want to miss any trends. Even if I have to take risks, I have to be brave enough to allocate a small amount of funds. A diversified layout is my first choice."
McCollum is one of the most thoughtful and practical players in the NBA. Before becoming a professional player, he has already analyzed various situations and development routes that he may encounter in his future career. "I think no matter what career it is, adequate preparation and plan B is very important. You may encounter unpredictable crises in a stable job, let alone a professional player. This epidemic is the best example. Create diversified income and sound investment, and you can maintain your life in the face of any risks. is the most important."
Below we will analyze McCollum’s investment plan and entrepreneurial plan that he has carefully planned.
CJ McCollum’s Sports Industry Investments
As a basketball player, McCollum was naturally an early investor in various sports-related products, including a variety of sports drinks, supplements, and wearable technology. Among them, the most in-depth cooperation was with LaceClips. In the early stages of the product, McCollum even hired his brother Errick. McCollum tried it out together, "Many sports-related products will come to inquire about investment or endorsement intentions, but I will definitely have a complete experience of using them before deciding on the next step."
McCollum is quite good at using the halo of NBA players to expand contacts, including becoming a shareholder of Jamba Juice (a "smoothie" restaurant from California, USA) and Cinnamon Bums (a company that provides franchise business services in the United States). McCollum participated in the invitation of friends. "I'm really good at using connections, but I have to personally participate and have a good experience before I invest. My friend has channels for me to invest and takes me to understand his business model." , so I invested money and became a spokesperson." McCollum said, "In particular, Steve Foltz (CEO of Cinnamon Bums) taught me to move forward step by step and gave me a lot of information on venture capital and franchising."
In addition to business investments, McCollum graduated from Lehigh University with a major in journalism and is very passionate about journalism when he is not on the basketball court. He interned at the Players' Tribune in 2016, doing some interviewing and writing about the NBA, putting his journalism degree to use.
McCollum has also invested in PlayersTV, a subsidiary of Players Media Group, in recent years and has served as a producer and host of a number of programs. "I really want to use the programs in cooperation with PlayersTV to allow young viewers to learn from the perspective of the athletes they admire." Everything from financial thinking to mental health," McCollum said.
McCollumwinery tycoonDream
Among all McCollum's side businesses, the wine business is definitely the one in which he has invested the most effort and capital, and is also the most successful and ambitious.
"I'm very lucky. The starting point of my professional basketball career is in Oregon. Here is one of the best wine producing areas in the world: the Willamette Valley. Here I not only ignited my passion for wine, but also can continue to absorb it. Knowledge about the wine industry," McCollum said.
McCollum came to Portland just after entering the NBA. Under the guidance of his wife Elise C. Esposito, who was still his girlfriend at the time, he began to get in touch with local wineries. "We gradually evolved from leisure activities into hobbies, starting with Walter Scott, and then Stork I started working with wineries in Stoller, Soter, Domaine Drouhin, Domaine Serene and Antica Terra, and then I became more and more involved, slowly researching and trying brewing on my own.”
During the suspension of the epidemic, McCollum first transformed his room into a giant wine cellar with temperature control function, but just storing fine wine was no longer enough for him, and McCollum decided to put his idea into larger-scale action.
McCollum first collaborated with Adelsheim Winery (Adelsheim) to launch a joint wine, and under the guidance of winery owner Gina Hennen, expanded industry knowledge, "from harvesting, destemming, maceration, fermentation, pressing, malolactic fermentation and clarification and bottling, I personally experienced both machine and manual operations, and finally came to tasting, including observing, smelling, sipping and gargling, as well as swallowing or spitting out. I took the time to learn everything.”
