Career Woman

Women in sports: Turn a passion into a financial benefit

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Being a woman in the world of business means that you are the financial decision-maker for your company. Whether you are in the position of a CEO at a private company, an entrepreneur, or you are just getting started on another venture, you want to have the know-how to make the right choices when it matters.

In today’s busy workplace, many men and women are incorporating a second job or ‘passion’ hobby into their mix and using that as a way to have a second income stream. However, what should you do when you see that your hobby is making you some good money? When is a good time to take a chance on a new idea if you see that there could be lots of room for potential?

You may see many women who have regular jobs doing incredible things that you would want to be a part of. For instance, there has been lots of coverage on the Giti Angels, which is an all-female car racing team that has recently gotten headlines for winning the Best in Class and competing well in the 2019 Nürburgring VLN Race.

Many women who have been working as a part of this team have been in love with racing for many years but never thought about becoming a part of a team that would allow them to compete together and make a name for themselves as the first all-female crew. This type of thinking is something that many women deal with when deciding on their career path, but can be overcome.

Especially when it comes to passions like sports, women tend to shy away from these opportunities because they are often not the financial reward that one might think. This is especially true for women in sports because of the much lower salaries given to female participants, teams, and organizations. So, if you are interested, how can you make your interest into a financially stable decision?

Seek sponsorship

Well, the first, and perhaps most important part of the process if the financial sponsorship. If you are interested in making your hobby into a second stream of income, then you need to have corporate sponsors or investors that will support you in your endeavor. As, a woman who knows the business, this can be a place where you shine.

The Giti Angels have a major sponsor, Giti Tires, which has helped them tremendously along their journey to the Nürburgring VLN Race. From a vehicle and all its specifications to the racing tires that the team had on the car, this company has backed their female team all the way. With the support from a sponsor of this caliber, their team entered and thrived during the competition and left with a trophy.

The role of a sponsor will help keep you financially stable while training and practicing so that you can focus on the event ahead. This will also help you cover the costs of getting to and from events while being able to get you the tools and equipment you need. Getting a sponsor like Giti Tires is a major way to take your sports hobby and turn it into a money-making opportunity.

Enter for awards and prize competitions

Another way that a hobby can help you reach financial stability is by winning prizes and awards that come with cash prizes or contracts. Some competitions offer winners first, second, and third place prizes. Others offer different rewards for categories that you place high in. Depending on how well you do, you could potentially win some money by participating and being one of the best.

Some of the biggest competitions however, will offer the winners a chance to be a spokesmodel, do fundraising campaigns for charity, travel and compete for other titles, and act as a contracted celebrity at sports events where you will be invited to watch and commentate of the events as a way to get people to buy tickets and have a chance to meet you.

Start part-time as soon as possible

These may seem like ways that are far out of reach, and that you would have to do this full-time to get anywhere with it. That is not the case. Many people start out in other jobs and careers and build up their hobby into something bigger on nights and weekends until it becomes a career of its own. With sports and event calendars for things like racing, there is a specific season for events, which you can work around.

This allows you to work a regular job for the year, and add extra income doing something that you love during the racing season. It could also potentially lead you to leave your job and compete full-time if you are willing to make the move and are financially stable enough to do so. So, don’t think that turning a hobby into a second income stream, or even your main income, is impossible.

The women of the Giti Angels have shown us one team of amazing women that have banded together and found a way to make their racing hobby into something bigger with the help of their sponsors and the hard-working drivers and crew members. With the determination and dedication that these women have shown, they have inspired others to do the same.

So choose whatever sport or event you love and would like to participate in. With the sports world becoming more and more diverse every day, those who are looking to do something within the field and possibly turn their passion into a career are growing stronger.

Making sure that you have the financial stability to start this process and can dedicate your time and effort to the sport is just one part of the journey. However, figuring out the financial aspects of your hobby and what it could turn into, is a great way to find out what you could potentially do with your earnings, and what they might be.

So, don’t hold yourself back and think that you don’t have what it takes to get into the women’s sports arena. Whether you are just starting or wanting to get back to your roots after some time of not playing, you can turn your hobby into a better opportunity and make yourself more financially stable.

Aigerim Berzinya is the marketing and communications manager for the fast-paced Giti Angels racing team.

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best.We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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