By Samantha Kleinman
NFL Player Engagement
“Be proactive and opportunistic,” NFL Legend Carl Banks said to the group. But his audience – a mix of 16 current and former NFL players – wasn’t looking for insight into how he lasted 12 seasons in the NFL, or what it took to win two Super Bowls with the New York Giants. They were more interested in how Carl transitioned from the field to the boardroom and his current position as Founder and President of G-III Sports.
This was the scene at the first Boot Camp: Consumer Products in Baltimore, MD, the newest addition to the Boot Camp Series hosted by NFL Player Engagement in collaboration with the NFL’s Consumer Products department. Players removed their helmets, put on their entrepreneur hats, and dug into the business fundamentals of the consumer products industry. Some of the participants came to the program with their own ideas for products that they wanted to get in front of top companies in the industry – like Arizona Cardinals long snapper Mike Leach and his wife Julie, with their Potty Pals product (http://www.pottypals.com/); Pittsburgh Steelers wide receiver Plaxico Burress and his luxury sock line, the Plaxico Burress Collection (http://www.plaxicoburresscollection.com/); or 10-year NFL veteran Phillip Buchanon, who has developed a financial education book and board game. Others, such as Baltimore Ravens wide receiver Torrey Smith and New York Jets outside linebacker Quinton Coples, were just there to soak in the information and guidance from professionals in the industry and faculty from the University of Maryland’s Robert H. Smith School of Business. There was something for everyone, as the participants got an inside look at this exciting and competitive industry.
Throughout the week, participants heard directly from successful NFL licensees about how they launched their product lines, how they select their target markets, how they market their products to consumers, how they work with retailers, and more. Robert H. Smith School faculty provided the academic focus, providing the players with valuable education about finance and budgeting in a business setting, developing a business plan, developing a marketing plan, and the legal and intellectual property aspects of the consumer products industry. This is information that will serve the participants in whatever business ventures they pursue, whether they’re within the consumer products industry or otherwise.
To supplement the classroom experience, the group had the opportunity to attend the 2014 Consumer Products Summit. Here, the participants were able to walk through a large showroom where the NFL’s licensees were showcasing all of their newest products. In one corner you could spot Burress deep in conversation with a fellow sock producer, while Mike and Julie Leach were in another corner talking to a producer of children’s products, and other participants were learning about the newest headwear offerings from 47 Brand. The networking continued that evening at the B&O Railroad Museum, where the participants had a chance to let loose with the licensees and enjoy some authentic Maryland crab cakes, listen to a live band, and tour the railroads.
The program ended on a high note, as the participants toured the Under Armour campus and delivered their business pitches to a panel of judges, including Matt Mirchin, Executive Vice President of Global Marketing at Under Armour. On the first night of the program, participants had split into groups and begun brainstorming business solutions to consumer products challenges given to them by the NFL Consumer Products department. Their task was to develop a business plan and pitch it to a mock panel of investors, and it all culminated in this moment at Under Armour. The participants’ creativity and business acumen shone through, as the judges saw thoughtful analysis mixed with comedic videos and skits focused on headwear, tween apparel, men’s lifestyle, and NFL Rush Zone. Ultimately, Team Swag (Phillip Buchanon, Quinton Coples, Dunta Robinson, and Mike Stone) won out with their in-store marketing concept for Rush Zone products. The pitch competition was a “great opportunity to practice [business] skills in a real setting” said three-year NFL veteran Jamie Silva. Mike Leach added that the pitch competition was “invaluable experience. It’s not the most comfortable task, but it shows the strengths you have and the weaknesses you must improve.” He further added that Boot Camp: Consumer Products allowed for “great contacts made. I feel confident that [Julie and I] can move forward and be successful with our product.”
Keep an eye out for the Boot Camp: Consumer Products participants – you may just see their products in stores soon.
To read about the participants’ experiences at Boot Camp: Consumer Products, visit www.nflpe.sportsblog.com, where Mike and Julie Leach, Corey Mays, and Cynthia Zordich blogged about their experience at the program.