Before Odell Beckham Jr. made the largest investment decision of his life, he had dinner with his business partner Ajay Sangha.
"If you're happy, and you think this is going to grow, then I'm doing it," Beckham said at the table. "You tell me yes or no."
Sangha said yes. They closed the deal in March of 2021-an investment in Jaxxon, a fast-growing men's jewelry company, that dwarfed any other investment Beckham had done. How much money are we talking here? He won't say, but it's at least double any other investment they've made, and they've done around 25 of them. And it was enough to keep Sangha up at night.
"I mean, it's not my money," Sangha says now, reflecting on the moment. "It's a lot of money, right? It's a lot of fucking money. And it's a venture investment. It could I go down the drain. I didn't sleep for a month and a half."
But Beckham? He slept fine. "I'm okay with taking this risk in hopes that it pays off," Beckham says now. "And if it didn't, I was going to beat him up and then we'd move on to the next one."
Yes, of course, Beckham has some major advantages to help him feel this way. As one of the largest stars in football-with a new Super Bowl ring, a history of lucrative NFL contracts, a Nike deal, and myriad other arrangements we'll get into a later-this man has some cash to play with. He's also grown comfortable in high-stakes situations, where hesitation is the difference between catching or missing a one-handed, career-defining touchdown.
This story is from the July - August 2022 edition of Entrepreneur US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July - August 2022 edition of Entrepreneur US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Charities Are Getting Down to Business
Nonprofits are struggling. That's why more charitable leaders are taking a page from their for-profit peers-and learning how to make money.
HOW TO ASK SOMEONE FOR A MILLION DOLLARS
Philanthropic fundraisers often get donors to give $1 million-and their tactics are useful for anyone trying to win over someone else's dollars.
MAKE YOUR FIRST TAX-FREE MILLION
It's legal, smart, and great for your long-term savings.
MAKE A MILLION DOLLARS IN A WEEKEND?
OK, you won’t earn it ina weekend. But serial entrepreneur NOAH KAGAN says you can start a thriving business quickly—if you’re willing to move fast and be uncomfortable.
THE MILLION-DOLLAR MEETING
Once your company hits a million dollars in revenue, many more investors (and private equity buyers) will start taking your calls. Here's why.
MILLION-DOLLAR UNLOCKS
New companies rarely get off the ground without some roadblocks, setbacks, and unforeseen decisions. Here, 10 founders describe the pivots that unlocked their growth and catapulted their profitability.
THE PATH TO MILLIONS STARTS HERE
A million dollars sounds sexy. But what is it, really? For some, a dream.
What SEO Insiders Know
Looking to boost your SEO? We asked a bunch of insiders: What do you know about your industry that most outsiders don't?
Pack These for Your Next Trip
Want to make your next business trip a pleasure? Gear expert and two-time Emmy Award winner Mario Armstrong has five items you'll want to make room for.
Finding Your Dimension X
Why do some people thrive, while others fall behind? As Google's first chief innovation evangelist, I believe I found the answer: Successful people harness what I call their \"Dimension X.\" Here's what it is.