We are on verge of one of the greatest free agent periods in the history of sports. With NBA stars LeBron James, Dwyane Wade, Chris Bosh and the host of other NBA players who will make decisions on where they will play.
The free agent period starts July 1st with an official signing date of July 8th. Careers, sports franchises and the lives of GMs, team presidents, coaches and their families hang in the balance. A wrong decision could handicap a team for many years to come.
Let’s first start with a quick history lesson on free agency. Do the names Andy Messersmith and Dave McNally ring a bell? Probably not. Well they ushered in modern day free agency in 1975 when they challenged Major League Baseball in arbitration and won.
As personal brands we are all professional business athletes but instead of playing on a field we work in a field. Let’s contrast NBA free agents vs personal branding free agents.
Free Agent Definitions
NBA: There are two types of NBA free agents restricted and unrestricted. For the purpose of this article we will focus on an unrestricted free agent, which is a player who can sign with any team he wants.
Personal Brands: According to Daniel Pink (Author of Free Agent Nation): A free agent is someone who works untethered from a large organization—a free-lancer, a sole proprietor, the operator of a very small business.
Should Daniel Pink’s definition of free agents extend beyond soloprenurs to include intrapreneurs as well who have positioned themselves for new opportunities?
Market Value
As I watch the story of Powered a full-service social media agency unfold it is a great business story on personal branding free agents.
How do you develop a team? In sports, teams can build through the draft getting young players and building around them. In the business world this would be the evaluate of hiring millennial and developing them. The other option is signing free agents or trading (acquiring). Recently Powered has acquired talent through the free agent route acquiring: Crayon (Joseph Jaffe), Step Change, Drill Team, and Conversation Agent (Valarie Maltoni). For more details on this story read Jeremiah Owyang, article, FirstTake: Powered, A Social Marketing Suite, Acquires Crayon and Social Media Agencies
Q: Performance impact in NBA vs. Personal Brands
• NBA: Stats and how you perform under pressure
• Personal Brands: Popularity of your blog (Adage 150, page views) and engagement online (Klout Metrics), book sales, and speaking gigs to name a few.
Q: Reputation impact in NBA vs. Personal Brands
• NBA: Background checks, family history, off the court history and run ins with the law
• Personal Brands: Online Brand Reputation, valid your activity in social networks, and listen to your data stream in your social networks
Total Compensation
As a personal brand it is a great time to diversify yourself to create greater marketing opportunities. Establishing a personal brand is really about more than just creating a blog and tweeting but being portable and leveraging your personal DNA being who you were designed to be.
Q: Endorsements for NBA vs. Personal Brands
• NBA: Shoe deals, product commercials, etc.
• Personal Brands: More and more opportunities for influencers with a strong personal brand presence to experience endorsements with large brands: For example Usage of Ford’s Fiesta Movement Challenge and GM’s Chevy SXSW
Q: Rock Stars NBA vs. Personal Brands
NBA: Kobe Bryant, LeBron James, Dwyane Wade, Carmelo Anthony, Dirk Nowitzki
Personal Brands: Chris Brogan, Brian Solis, Charlene Li, Wayne Sutton
Would you rather be an NBA star or a strong personal brand? Goes back to the Michael Jordan v Bill Gates argument. Would you rather be an NBA Free Agent or a Personal Brand Free Agent?
