From Athlete to Agent: Translating Lessons from Elite Competition into Business Success with Donnie McGrath

0:01John Lee Dumas:Boom, shake the room, Fire Nation. JLD here and welcome to Entrepreneurs on Fire, brought to you by High Level, the all-in-one sales and marketing platform. Today we'll be breaking down from athlete to agent, lessons from elite competition into business success. And to drop these value bombs, I brought Donnie McGrath into EO Fire Studios. Donnie is the CEO and co-founder of Lyft Sports Management, a fast-growing athlete representation agency serving NBA, NFL, WNBA, NIL, and international clients. And of course, he's a graduate of my college. He's alumni like me of Providence College. Go Friars.

0:37John Lee Dumas:And today we'll be talking about relationship building, digital fluency, negotiation excellence, developing talent, ethics and reputation, and oh so much more. And a big thank you for sponsoring today's episode goes to Donnie and our sponsors. Fire Nation, meet Hotworks, the number one boutique fitness franchise with 850 plus locations. They pioneered virtual workouts inside infrared saunas. With recurring membership revenue, a low-labor, high-tech model, and a proven franchise system, entrepreneurs gain a scalable business built for growth. Visit hotworks.net slash franchising to learn more. Sleep impacts everything.

1:12John Lee Dumas:Your energy, focus, and performance. FitNexus Somnipods 3 are ultra-comfortable sleep airbags that block distractions, track your sleep, and deliver personalized insights to help you rest and recover. If better sleep is a priority for you, visit fitnexa.com and use code EOFire10 to save$10 on Somnipods 3 today. Stop duct taping your business together. High Level runs your website, your funnels, email, automation, scheduling, payments, and memberships all in one place. And when you sign up at highlevelfire.com, you get a 30-day free trial plus my exclusive bonus stack that includes weekly office hours with me and much more.

1:47John Lee Dumas:Visit highlevelfire.com. highlevelfire.com. Donnie, say what's up to Fire Nation and share something that you believe about becoming successful that most people disagree with. First of all, thanks for having me. And what's up, Fire Nation? Friar for life. Happy to be here with John, who's a fellow Friar. So love that. Good question. I think that actually matters to me, how you define success. You know, I think that success is something that, you know, everyone has a different opinion on. You know, that's something that some people disagree on, like what actually is success. You know, for me, I think for where it lives at, I think that we're on the right track towards becoming successful, but definitely are not satisfied yet or consider us, you know, being able to relax and call ourselves successful already.

2:46I think we're still building, but I definitely think that we are on the right track. And I'd like to think that everybody at Lyft, myself included, has that eager entrepreneurial mindset to keep pushing to eventually be successful and be considered successful.

3:03John Lee Dumas:I love that. And Fire Nation, you're going to have to bear with me here because listen, I've been doing this for 14 years, 5 ,826 episodes. And I've interviewed Tony Robbins, Gene Simmons from Kiss, Mark Cuban, Barbara Corbett. It doesn't matter. They were good interviews. This is my fanboy moment, okay? Listen, I am a friar for life, Donnie. I will never miss a game. I never miss a game. I love the team. You are an amazing player for Providence College in so many different ways. Thank you, thank you. And I'm this little fanboy moment. So Fire Nation, if I sound a little nervous, that might be why.

3:36John Lee Dumas:But listen, I want to talk about going from athlete, which of course you were, to agent, translating lessons from elite competition into business success. And Donnie, let's start with talking about relationship building, because in a world that is increasingly driven by technology, why is relationship building still one of the most valuable skills an entrepreneur can develop? I think it's the most important thing. For me, that's been something that's guided me throughout my career playing and even my professional career now. You're only as strong as your network and your relationship. So that's something that I've always prided myself on and something I pay a lot of attention to.

4:16John Lee Dumas:Talk about digital fluency because listen, digital tools and AI, you know it, I know it, they're evolving lightning fast. What do you think true digital fluency looks like today? And specifically, how can leaders stay ahead of the curve with this? No question. You know, every day things are evolving and, you know, the digital landscape is expanding and AI is such a part of everything now. I think one of the interesting things in sports, and there's different ways where AI will affect sports, but I think that sports itself is something that's almost AI proof. You know, I think everybody's going to continue to want to go to live sporting events and have their teams and fans are always going to appreciate the experience.

4:58So I think that that's one of the things as, as I look at the business that we're in and, you know, you see all the money flowing, the private equity money that's flowing into sports and all the mergers and acquisitions in the space. It's an exciting time to be a part of it. It's not to say that AI isn't going to affect it. But I do think that we're in a great spot.

5:17John Lee Dumas:And then sometimes you actually kind of see this pushback when things go too far in one direction and people are going to be like, no, I don't even want to talk on Zoom anymore. Like, let's have a sit down face to face over a nice steak, maybe up on Federal Hill in Providence. I don't know. But that's where you can see things going to as well. But one thing that I think you've really understood and what you do day to day, Donnie, is negotiation excellence. I mean, great negotiators. What do they do? They create win-win outcomes consistently. So what separates an average negotiator from an exceptional one?

5:53It's having leverage and having the asset. For us, if one of our clients is in a position where he had a great season and the team really wants him and let's say a team has cap space or something like that, then they have a lot of leverage in that situation. So obviously there's situations and times where that's not the case, but we like to create as much leverage as we can in those situations and build the story. And I think that's helped us a lot so far.

6:19John Lee Dumas:Now, Donna, you don't have to, if you don't want to give us specific names, I get that. But can you tell us a couple specific negotiations that you are really proud of for various reasons? Just build the scenario. If you can use names, great. I mean, maybe there's public knowledge. I don't know. But if you can't just build a scenario of like what that negotiation was. So Fire Nation can understand a real life scenario, a case study, if you will. Paolo Banqueiro's max rookie extension. You know, a lot of people just reported as an easy max rookie extension, but there was a lot of little intricacies in the deal that, you know, I feel like we were really excited to get done.

6:57You know, Paolo got a player option on the last year of his contract, which, you know, nobody has got that in the last five or six years. I think Luka was the last rookie to get that, which is, you know, six years ago. So some of the more recent superstars that got it were not able to get that. So we were able to get that. We were able to get, you know, a large portion of his money up front, like little, little different things in the deal that we're really excited about getting for him. And, uh, you know, that's definitely one that we look at with a little feather in the cap.

7:28John Lee Dumas:When you win a client, when they say, Donnie, I'm going with you, what's a common reason they tell you that they chose you, that they chose Lyft Sports Management? Mike Miller and myself, who started the agency, both had long playing careers. Obviously, Mike's career speaks for itself, having played 17 years in the NBA and was rookie of the year, sixth man of the year, won two championships, playing alongside LeBron, played on Team USA. So, you know, myself, obviously having a pretty strong career at Providence and playing internationally for 13 years. I think that while there are great agents out there and great agencies, I think that there's a wave of players now that are looking to align with guys who have kind of lived that life and had representation themselves and saw some holes in representation and want to kind of change that.

8:25And I think people have put their trust in us because of our experience playing.

8:29John Lee Dumas:Tell us about your favorite win as far as acquiring a talent where you were just like little fist pump, maybe, you know, behind the scenes. You don't want to show up publicly because, you know, you got to kind of always look to look and talk to talk and walk to walk. But what was that one where you went maybe back home and you were just like, yes, high fiving the mirror? I do think that signing Paolo was just such a huge moment for our agency just because it was the second year of existence, kind of almost still the end of the first year of our existence. And he's the number one pick in the draft.

9:04And he's an all-NBA talent. He's an all-star. Obviously, he was rookie of the year. So it was just such a monumental moment for our agency. and we're appreciative that, you know, he put his trust in us and his belief in what we were building. And then, you know, from there, there's been other breakthrough moments, you know, since then, I think that's really what put us on the map. But, you know, we've continued to scale and grow. And, like, you know, some other great moments would be when we added football. We've added two incredibly experienced agents to our agency that represent, you know, 40-plus NFL players, which is another like real breakthrough moment for us, as well as having, you know, other executives and leadership and partners that have joined the agency.

9:49John Lee Dumas:I really resonate with that because my seventh interview I've ever done, that was 14 years ago, over 5 ,700 episodes ago, was Barbara Corcoran. And like, I don't know why she said yes. I mean, it was like, honestly, it was in between takes of Shark Tank that she said yes. And I remember like doing the interview, getting it done. And then from that point forward, I was just always the guy who interviewed Barbara Corcoran. And like that just opened all the doors because now people aren't like, what is this show? Entrepreneurs on fire, which they had never, never heard of before. Who's this guy, John Lee Dumas.

10:19John Lee Dumas:Like, you know, I know he's a Providence college grad. That's not cool enough though. Like it was, no, he interviewed Barbara Corcoran. Okay. That's all I need to know. If she thought her time was worthy to be on the show, then of course my time is probably where they'd be on the show. That's what the potential and future guests were saying. And so I totally get that, which is why fire nation think about it. It's just like that one breakthrough. is all it takes when you grind your face off and you get there, the doors open. And we have a lot more to talk about when we get back from taking our sponsors.

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11:22John Lee Dumas:Hotworks has 850 plus locations, giving entrepreneurs the opportunity to join a growing brand while bringing something unique to their own community. Because building a successful business isn't just about the bottom line, it's about creating something you're proud of and making an impact along the way. You don't have to choose between purpose and profit. With Hotworks, you can have both. Visit hotworks.net slash franchising to learn more today. That's H-O-T-W-O-R-X dot net slash franchising. One thing I've been dialing in for over a decade now is sleep. Not only am I in bed every night by 9 p.m., but I've really perfected my sleep environments.

11:58John Lee Dumas:And one thing that's helped me do that is Fitnexa. Fitnexa is a pair of comfortable sleep earbuds designed specifically for a great night's rest. They're built to minimize pressure on your ears, even if you're a side sleeper like me, and their active noise cancellation helps block out the distractions that can keep you from falling or staying asleep. But what really takes Fitnexa to the next level is everything built in. You can listen to calming ocean waves, rain sounds, and more completely offline, with no streaming apps or subscriptions required. Fitnexa also tracks your movement and sleep patterns overnight, then gives you personalized recommendations to help improve not just how long you sleep, but how well you sleep.

12:34John Lee Dumas:You can even set a private alarm that wakes you without disturbing your partner, which my wife loves. If better sleep is a priority for you, Fitnexa helps you create the environment and routine to make it happen. Visit fitnexa.com and use code EOFire10 to save$10 on Somnipods 3 today. Fire Nation, ideas are exciting, but systems will allow you to create freedom. That is where High Level comes in. High Level allows you to build and run your entire business from one platform. Website builder and hosting, funnel and landing pages, email marketing, automation and workflows, calendar booking, payments and subscriptions, even course and membership hosting.

13:11John Lee Dumas:Everything works together seamlessly. Plus, award-winning 24-7 support so you are never stuck. And when you go through my link at highlevelfire.com, you unlock my full bonus stack. A 30-day free trial of High Level with full access, a private 15-minute coaching call with me, weekly live office hours with me, a digital copy of my book, The Common Path to Uncommon Success, my 50 Days to Something execution roadmap, and more. Stop piecing tools together. Start building momentum. Visit highlevelfire.com and start building your something today. Donnie, we're back. I want to talk about developing talent specifically.

13:51John Lee Dumas:I mean, why is a talent development mindset so critical for leaders who want to build high-performing teams? I think that's at the core of Lyft. That's what we really pride ourselves on. Again, back to the fact that Mike played and I played. I feel like there was a hole in the representation landscape where that wasn't really a focus. And that's definitely at the core of what we do. So usually when we're working with a client, we put a comprehensive plan together of, you know, training, nutrition, all that kind of stuff. And we really keep a focus on that because at the end of the day, that's, that's, you know, that's these guys business and that's at the core of where they're going to, you know, continue to thrive.

14:35And if they continue to get better on the court or on the field, then everything else falls into place.

14:40John Lee Dumas:Let's talk about ethics and reputation. How do ethical judgment and reputation become long-term competitive advantages in business? It's everything. That's one of the most important things that we've prided ourselves on that I think every entrepreneur needs to pride themselves on is, you know, you can never take your reputation for granted. I think it's something that you really have to protect and you have to, you know, continue to keep your core values as one of the most important things as you build your business. Let's talk about money in college sports right now, because I mean, the NIL is absolutely changing the game, changing the landscape, changing everything.

15:19John Lee Dumas:I mean, I remember when you were at Providence College, you weren't getting multiple millions of dollars per year. Although Donnie, you probably would command something like that in this day and age, you know, being, you know, the three point sharpshooter you were for sure. So talk about that. Like what are your personal thoughts on NIL and where's it going from here? I think it's an exciting time and I think it's well-deserved for the players. Obviously, I look at it from my time and I'm a little bit salty that I'm not able to earn a graduate with millions. But nonetheless, we're able to benefit from that.

15:55I mean, it's been great for us as an agency to be able to navigate that because, I mean, when we started our agency, NIL was just starting. So it was kind of like we can get into it at the same time as everybody else. Nobody else really had a competitive advantage over us getting into the space. And, you know, we've really navigated it well. And I feel like we're definitely one of the leaders of agencies in NIL, football and basketball. And, you know, I think that there's definitely some things that probably still need to be flushed out and cleaned up. But I think overall, it's great for the sport.

16:30I mean, college sports is as exciting as ever. It's great to see student athletes able to earn a good living and set themselves up for post-college. And, you know, I'm a big fan of it.

16:41John Lee Dumas:Cross-industry thinking. What do you think, Donnie, that entrepreneurs can gain by developing awareness beyond their own industry? And how does that create new opportunities? Continuing to learn and educate yourselves on, you know, the evolving landscape of different industries is always something that makes a lot of sense. You see a lot of, you know, crossover in different industries, you know, sports, tech, you know, different things like that. And just trying to educate yourself as much as you can on what's going on out there, I think is always key. So Donnie, with everything you have going on right now, what do you think is one skill our listeners, Fire Nation, should focus on mastering today that will continue to be paying dividends for decades to come?

17:30Like any entrepreneur, there's always going to be ups and downs, you know, not getting too high on the wins, not getting too low on the losses. And, you know, having a long term approach, I think, is something that's always it's always key. You know, always having, you know, the mindset of, you know, what's next and not letting yourself get too up or too down.

17:50John Lee Dumas:I would say that one of my favorite quotes of all time is this too shall pass. And for me, what does that mean? when you're crushing it, when you're seven for seven from three, you know, like you can't get too high. Like this too shall pass on the flip side. When you're over seven from three, when you're just striking out when it comes to business or opportunities, um, that's going to pass as well. Just remember that life is this pendulum. The highs are high, the lows are low, but just remember you can't get too high or too low on either. Try to keep that steady beat. I love that from Donnie and Donnie, if our listeners want to connect with you, if they want to learn more about what you have going on with Lyft Sports Management.

18:29John Lee Dumas:What is your call to action for those listeners today? Where can they go? Follow us on social media. You know, we're constantly posting updates on social media through Instagram, through X. You know, you can follow Mike Miller as well, myself, and you can watch the NBA draft a week from yesterday, June 23rd. We have a few clients in the draft coming up. Hopefully we have a good night for them and for our agency. And, you know, stay tuned there. Fire Nation, you're the average. Of the five people you spend the most time with, you've been hanging out with DM and JLD today. So keep up the heat. And for links to everything we talked about, visit eofire.com, type Donnie in the search bar and the show notes page will pop right up.

19:13John Lee Dumas:And Donnie, can I just get one more? Go Friars. Go Friars. Let's go. Donnie, thank you for sharing your truth, your knowledge, your value with Fire Nation today. for that we salute you and we'll catch you on the flip side sounds good man great thank you for having me hey fire nation a huge thank you to our sponsors and donnie for sponsoring today's episode and fire nation are you an entrepreneur on fire who's looking to share your amazing message with the world if yes we are now accepting applications for eo fire so to learn more about becoming a guest visit eofire.com slash guest and i'll catch you there or on the flip side fire nation meet hot works the number one boutique fitness franchise with 850 plus locations.

19:52John Lee Dumas:They pioneered virtual workouts inside infrared saunas with recurring membership revenue, a low labor high tech model in a proven franchise system. Entrepreneurs gain a scalable business built for growth. Visit hotworks.net slash franchising to learn more. Sleep impacts everything your energy focus and performance fit nexus somnipods three are ultra comfortable sleep air bugs that block distractions track your sleep and deliver personalized insights to help you rest and recover. If better sleep is a priority for you, visit fitnexa.com and use code EOFire10 to save$10 on Somnipods 3 today. Stop duct taping your business together.

20:29John Lee Dumas:High Level runs your website, your funnels, email, automation, scheduling, payments, and memberships all in one place. And when you sign up at highlevelfire.com, you get a 30-day free trial plus my exclusive bonus stack that includes weekly office hours with me and much more. Visit highlevelfire.com. High level fire.com.