In this section I am discussing the world of entrepreneurship. People who have jobs rely heavily on structures and systems that were created by others. When we enter the world of personal success we start from scratch and need to build them ourselves. After much searching and contemplation, I finally hit upon the answer: So where did the answer actually lie? What was the model I could understand clearly, implement easily and follow through to results? I kept looking. What about successful companies
Fast Broke: Excerpt V — Don’t Drown in the Bathtub
The mechanism by which many athletes and millions of Americans go broke can be easily visualized by a metaphor of a large bathtub. For top athletes, the tub is better represented by a swimming pool. But for now let’s keep it a large tub. The faucet represents our earned money. The more we earn, the more water is pouring into the tub. Of course, the drain represents our expenses. As we earn more, the faucet pours out more and more water, filling
Fast Broke: Excerpt IV — How to Go Broke on $100 Million
We have all heard about the alarming statistics indicating that most professional athletes will be broke within five to seven years of retirement. And we all ask the same questions. “How can this happen when they make all that money?” “Who is advising these guys?” “Where is their agent?” “Why doesn’t the league do something?” Plus we have all heard the stories about the extravagant spending, the children out of wedlock, the bad investments and wonder, “How dumb can these guys be?” The answer is much simpler
Fast Broke: Excerpt III — Why Athletes — and Regular Folks — Don’t Get It
It’s In No One’s Interest That You Get It. All players entering the NBA participate in the Rookie Transition Program. The league and the players association require every new player to attend a weeklong training session before the season starts. The program is an intense immersion type experience designed to open player’s eyes to NBA life. All kinds of lifestyle topics are covered. They cover wealth and investing. They cover health. They cover sex education, drug education and other topics players need
Fast Broke: Excerpt II — Smart Money vs. Dumb Money
“A fool and his money is one big party!” If you read only one chapter in this book, read this one. It has the answer why so few succeed while most fail miserably. We have all heard that athletes and entertainers blow all of their money on cars, drugs, jewelry, clothes and women, and not necessarily in that order. We hear every day about all these poor slobs who burn through millions of dollars and are left broke and lonely with no
Fast Broke: Excerpt I — Why NBA Players Go Broke
We have all seen the statistics and heard the stories about the majority of athletes going broke soon after they retire, regardless of how much money they made. I have this discussion with many people – especially athletes – on why this happens. The truth is very different than what many people think it is. I will discuss the mechanism at length later in this book, but the truth itself is simple. The reason that many athletes fail financially is the
PODCAST: Vince McKee on writing “The Redemption of the King”
Vince McKee (pictured to your right) was on the Sports Beat with Nick Camino & Andre Knott on WTAM 1100 in Cleveland last night to discuss the excerpts on SheridanHoops.com this week from his new book “The Redemption of the King.” Highlights from the interview include the meaning behind the title, and McKee’s original inspiration to write the book. They also covered the best parts of the book — but also the most difficult parts of the book to write. Among topics discussed
LeBron Book, Part 5: The Epilogue
LeBron James is back in Cleveland’s court, and a new book The Redemption of the King just hit the shelves. Author Vince McKee covers James’s entire journey in every detail both on and off the court — from the start of his career with the Cavaliers in Cleveland to his departure to Miami, his time with the Heat, and finally, the highly anticipated return of the “King.” The Redemption of the King is a story that revolves more around hometown pride