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There is always somebody you can inspire, because somebody younger than you is watching.

Former NBA player | 10 NBA seasons | investing in private equity since 2019 | children's book author | sets yearly goals with his daughters
Free · no email · no app required With C.J. Watson Recorded May 2024

Former NBA player C.J. Watson, who began investing in private equity companies and writing children's books in 2019 after 10 NBA seasons and one year overseas, says building generational wealth and inspiring others are his priorities, because there is always somebody younger watching. The best financial advice he received was to save his money, since athletes earn most of their income in a short period and need it to last into their 70s and 80s to create generational wealth. Watson wrote down 10 goals every year during his career, and he and his wife now have their daughters write goals for the school year and for sports. He keeps in touch with contacts once or twice a quarter and says mentors are the most important resource in any venture.

Key points
  1. 01Athletes earn most of their money in a short window and need it to last for decades to build generational wealth.
  2. 02Watson began investing in private equity companies and writing children's books in 2019.
  3. 03He wrote down 10 goals every year and replaced any he crossed off.
  4. 04He and his wife have their daughters write goals for school and sports.
  5. 05He checks in with contacts about once or twice a quarter.
  6. 06Mentors are the most important resource in any market or venture, in his view.
In their words
[09:48]

"Uh, that's the a big thing. You know, we make so much of our money in a short period of time and we want to make that money last and hopefully create generational wealth. So we want to live to maybe when we were 70 or 80."

[04:13]

"So, and even now with my kids, me and my wife, we tell our we have our daughters write down goals, uh for the school year and then also if they play sports, for sports."

[13:28]

"There's always, always somebody you can Inspire and if you're athlete or you know, whatever Market you're in or industry you're in, always somebody's watching, so somebody's younger than you is watching."

Questions

What financial advice does C.J. Watson give athletes?

Watson says the biggest advice he received was to save his money. Athletes make most of their money in a short period and need it to last into their 70s or 80s to create generational wealth.

How does Watson teach goal setting to his children?

He and his wife have their daughters write down goals for the school year and for any sports they play. During his career he wrote 10 goals every year.

What did Watson do after leaving the NBA?

After 10 NBA seasons and one year overseas, Watson started investing in private equity companies in 2019. He also began writing children's books to inspire young readers.

Full transcript

3,504 words

[Music]. All right, well, welcome back. This is our Pro aete interview series and is brought to you by the family office club and, in case you haven't met us before, haven't come to one of our events. We have about 7500 registered investors and hosted events all over the world for the last 17 years, about 275 events or so, and we have Pro athletes, doctors, private investors, billionaires up on stage at our events and on some of the shows that we host.

And we decid to go deep for this series to find out what it takes to become a top 1% performer, and so we thought how better to do that than interviewing a series of pro athletes on their mindsets, Investments, visualization, practices, affirmations, disciplines, and that's why we have CJ here with us today. And, CJ, we just wanted to take a minute to one. Thank you for coming on to the show and then maybe learn a little bit more about your background. Oh, yeah, thanks, thanks for having me honored to be on the show.

No, thank you. Well, why don't we start with, uh, your professional background in the sports field? Why don't you tell us a little bit about how you got started and what you're doing now? Uh, so I grew up playing basketball just with my dad and my brother in the front yard. My family is a a family full of athletes.

I feel like, uh, they played all different Sports, basketball, track and field, volleyball, but uh, basketball was something that I, uh, you know, fell in love with. Uh, I played it to stay out of trouble, um, and then also I just became good and just you know I wasn't the best, but I just kind of just worked hard, my parents ins seed and me and my brother, uh a work ethic, and we just, you know, kind of continu that. And I was fortunate enough to get a athletic scholarship to the University of Tennessee. Uh, played there for four years, had a pretty good career.

Um, then I didn't get drafted, so I went overseas to play in Italy and Greece. Then came back, uh, played in the D- league for about a month and then played in the NBA for 10 years and then one more year overseas, nice, and done what? What teams did you play with here? Uh, in the US? Uh, Chicago Bulls, Brooklyn Nets, Indiana Pacers, Golden State Warriors, Orlando Magic, and I'm missing somebody, uh, I forgot, it's five teams.

No, nicely done, congrats. It's obviously a long way from just playing with your brother and family there in the front yard. So, yeah, for sure, and I guess so, when did you stop playing? Like when? When did your professional career switch from the sports side into what you're doing now? Uh, probably, I think 2019 was my last year, okay, and then.

So what did you start doing in that 2019 time frame? So, 2019, I started investing in, uh, uh, private Equity companies. Also, I started writing children's books. I written four children's books so far. Um, it's just something that I wanted to do to continue to inspire kids. Uh, I was I always say, uh, the idea came, uh, for me just sitting on the couch, uh, saying how can I continue to tell my story?

And I I thought what other reason to to do that and what cool way to do that is through a book. So I just decided to to write books and I never thought about being an author before, but, uh, just something that I wanted to do, and I, once I start something I want to finish it. I love, and I guess on the book side we'll get to the others. But is that something that you wanted to write for, maybe, family or for your own kids, or why did you take that specific medium?

Uh, just to inspire the Next Generation. I feel like they need a lot of inspiration. I feel like there's a lot of people when I was coming up, uh, coaches, family members, uh, just random people, just always come up and give me a sound word and advice. I think that kind of helped me, uh, throughout my life and throughout, uh, my career also.

So I definitely think that's kind of you know why I did it? Just to help the Next Generation succeed. I love that, CJ, that's great. Well then, why don't we talk about sort of because you had a very interesting path going, one not being able to make it, at first going and then coming back, and obviously you're able to make it and hold it the best for 10 years in the NBA.

So I guess, what? What's visualization or affirmation, or goal setting, rituals or, I guess, strategies did you actually use to become in that 0.1%? I would say just goal, goal setting. I think that's the biggest thing. And obviously, having the confidence and the the positive affirmations, just telling yourself that you can do it, you can make it.

But, uh, every year I write new goals, every season, uh, I think, uh just also having realistic goals. I think a lot of people write down goals and they're probably not realistic, um, but I think, being realistic with the goals and then then going out and achieving those goals and working hard to do it. Every year I would go out and write new goals and sometimes I'll write new goals uh during the season and to help me prepare for next season. So, and even now with my kids, me and my wife, we tell our we have our daughters write down goals, uh for the school year and then also if they play sports, for sports.

So I think this is going to help them in life and, uh, help them, you know, uh, accomplish those goals too. I love that, and so what did you do to actually put, like, I guess, ways to sort of or checkpoints in there to make sure that you're staying on track with those goals? Did you have someone to keep you accountable? Is it just yourself or no?

I would. I would post them on my wall every morning. I would wake up in the morning. I'm brushing my teeth, washing my face. I would see those goals, I would say them out loud, um, and I would you know. Hopefully, you know, throughout the day and throughout the week, uh, accomplish those goals.

Every time, every every day, I drop my daughter from school, I tell her to read her goals and prati and say her prayers before she goes to practice. So hopefully she's doing it. I don't know if she is, but but try to get her mindset. You know, always just uh, having positive affirmations and just just uh going out there and seeing it, hearing it and then also saying it and going out there and doing it.

Okay, and for your goals, do you have a specific like, okay, I'm going to hit these 10 and these are your 10 for the year, for the season, or do you have a certain number you're going for? Or how do you structure that when you're setting this up each year? Yeah, I usually put down 10 goals. Uh, like I said, they can change throughout the quarter, throughout the year.

Um, some might cross off, you know, maybe in the first month, uh, but then I just keep try to keep it at 10. You don't want to get too many. Uh, I think once you get a small amount of number, then you continue to add or or decrease or whatever, but I think once you have that number, you just stay, stick with it and then, like I said, just go out there and and work hard to to grind it out and and, uh, knock those goals off. And I guess, do you have anything that you set up for yourself of once you hit one of those goals?

Is there something that you do to like celebrate, or you're just like: all right, now I got nine more and that's a celebration. Uh, no, I think I think you just continue to once you, I think once the throughout the year you'll do like, maybe like a Cong congratulation dinner or something like that, but other than that, I think you know, just, you just keep head down, you know focused, staying humble, and just knock those, those goals out. Okay, I love it. Well, while we turn to this, what's the number one million dooll lesson that you learned as a pro athlete that you plan to implement?

That sort of helps you get into beast mode outside the sports now? Um, I would say the power of networking. I think networking is is great, especially, you know, playing in the NBA. Everyone wants to meet an NBA player, uh, I think we come in contact with so many millionaires and billionaires, uh, throughout our course of the of the Season, uh, and maybe even career, but uh, and you never know who can help you and if you can help that person.

So I just think the power of networking is is pretty powerful and, and something that I never thought about when I played. Uh, I'm definitely a shy and reserved person uh in nature, so I'm definitely trying to get out the box more and meet people and uh just Network and you know, and see what they do, see if we can uh collaborate some way or partner. So I definitely think networking is is the way to go okay. And I guess if you were to go back and you're like and you know what you know now and you're like all right, networking, I should have done this better.

If, let's say, you're starting back out and let's say you're one, you're back into the NBA and you feel comfortable with coming back and showing up, what would you have done differently to sort of expand your network and sort of make sure to keep those networking points of contact like good, fresh leads, because once again, it's good to network. But what are you going to do with them once you've actually done that networking right? I think if you have something in common with that person, uh, like I said, hopefully you can partner with them, but always reaching out, maybe maybe once a quarter or once, a once or twice or a quarter, just saying, hey, how you doing, you know, uh, thinking about, about you, you know, uh, what, what do you have new coming up, what, what's interesting that you have on your plate, and maybe that can be something that you guys can piggy back off of and just start the conversation. Yeah, and I guess one the nice thing too: I guess when you're a player, you might be traveling around a lot too, so at least you're hitting all these different points, so it's very easy to be like, hey, I'm in your neck of the woods, you know, let me know if you want to.

You know, grab coffee, do this, or come see a practice, or there might be ways to easily connect without forcing that relationship. Yeah, and that's what I do now when I'm traveling with my daughter. If I have friends in certain cities, I haven't seen him while I talked to him a while, text them or call them and say, hey, let's meet up or, you know, go to go to lunch or dinner, something like that. So just never know what, what people can uh be into?

What can you know? Uh, uh, uh, start the conversation, yeah, and I guess, do you have any recommendations of how to sort of navigate or sort of, I guess, consolidate or SAR any of those networking resources or contacts that you build out? Like, do you have a CRM that you use, Ford, or sort of informal, or how do you keep track of all those relationships, just so you don't lose track of them as you're like man, now I have 150 people I'm trying to keep track of? Like, what do you do?

Uh, yeah, usually, you know I'm pretty old school, I feel like I'm not that old, but I just been taught by older generation, so I used to just have a, a stack of my business cards all the time that I've, you know, uh got through over time, so I would you know. But now, obviously I keep on my iPhone and if someone, uh, you know that I know or can't remember, I'll just put their city and what they do in the in their uh contact and then if I go to that City then I'll say, hey, this person's in that City so maybe I'll hit him up. Yeah, no, that's smart, that's really smart. Do you have someone that helps you out now with that?

Do you have like an executive assistant, that sort of helps? Hey, you're going to this place with your daughter here's. Is it still on you right now to keep track of those? Uh, still on me, for now. I like uh, doing it all my own. I feel like I keeps me, uh, keeps me motivated and keeps me aware of what I'm doing.

Yeah, no, for sure, and I think it keeps it more authentic too, and it's actually you thinking about this, reaching out, letting know about what you're doing with your family. So, right, okay, well, what's cly's Financial mistake that you've made? Or, in case you don't want to do, one that you P you, you personally, have made, but maybe someone else in the athletic space has made that you could sort of help other athletes avoid. I think, um, you know, for athletes, I think it's definitely uh, you hear the term all the time: save your money.

I think, uh, definitely. Uh, that's the a big thing. You know, we make so much of our money in a short period of time and we want to make that money last and hopefully create generational wealth. So we want to live to maybe when we were 70 or 80. So how can you do that unless you don't save your money and be smart with it?

So I think that's the biggest financial piece of advice that someone has ever given me, and I try to live by and do and uh, continue to, like I said, do that and teach the Next Generation also. And is there? Do you have certain like contacts or relationships, or is it a certain third party that you're like, oh, I recommend going with these guys because they'll help you preserve your wealth for future Generations, or what? What are your recommendations for that?

Because they might know that, but they're like, I don't know how to do it right. I would say: just do your due diligence first. Uh, you know, find people who have uh in the same field as you, who you know have been successful or maybe even failed and can give you advice on on a particular subject, but I don't want to ever, uh, I guess, advise someone to take uh someone financially because, like what, if it doesn't work out, then it's my fault, I feel like, uh, so I would give you recommendations, but you have to do your D diligence and, you know, interview people and all that kind of stuff and see if it works out for you. But I think also having mentors also, uh, one of my biggest mentors is ran Williams.

Uh, he's a, a great guy and he does great things and always helps uh, athletes and entertainers, you know, save their money and build their money. So I definitely think you know, just having mentors is a is a big way to kind of alleviate uh, some of the process. Also, okay, and I guess, for yourself and because that'd be great to speak from your own personal perspective of when you're trying to find a mentor, is there certain buckets you're trying to like? Is it like a knowledge Gap Mentor that you're trying to find, or what?

What would you recommend that worked really well for you that way, uh, someone who just been there and done it before you, like I said, succeeded and maybe failed also, um, that can tell you what to do and maybe what not to do, and not not how to do do it, but uh, just give you different pointers and advice on ways to, like I said, make. If it's about Finance, uh, to make your money last, to save, uh, to put your money in certain buckets to build it. So I definitely think mentors are the biggest thing in any, any Market or or Venture you go to no makes sense for sure, and is this, I guess we didn't ask it before, with, uh, your wife and stuff? Are you guys working on some of these projects together or are you solely focus more on your own?

Or how does that work with your own Dynamic U? I'm solely focused on my own, but I also send her things all the time, cuz. So you never can doubt a woman's intuition. Uh, I send her Investments and stuff all the time, so she tells me if she likees it, she looks it up, she does her due diligence also, and I give her information that I have on my in.

So I definitely take her advice because I, you know, I wouldn't be, you know where I am, without her. Yeah, no for sure. No, that's great, and I guess so for the next question: if someone wants to become just like you and was in the 0.1 percenter, what? How can they out compete everyone around them? Because obviously you took a very different path and perhaps that might be a way to out compete someone is: find other opportunities and then get back to where perhaps you wanted to be, which might have been the NBA for those 10 years.

Like, how do you be more disciplined? How are you able to run circles around those others that maybe they didn't last when they went overseas and tried coming back, or maybe they were only able to play for two years? Like, how do you out compete and how do you stay in like you did? Yeah, that's a great question.

I think it's just mostly about showing up. I think showing up is is half the battle, right there. I think when you show up and be consistent and and work and grind, you'll beat half the competition, cuz most of people you know don't want to uh. After two weeks, you know they'll just fall off the map. So, uh, you'll definitely be half the competition just by just showing up, being diligent, being dedicated, obviously sacrificing, there's so many things that you can put into the bucket, but I think showing up and just doing the work uh is is half the battle, right there, okay, I love that.

And I guess, before we finish, is there any other advice or insights you'd like to give to athletes, either who are currently playing or ones that looking to make that transition? Um, just building, uh, like I said, uh, building generational wealth, I'm really big on that, and inspiring others. There's always, always somebody you can Inspire and if you're athlete or you know, whatever Market you're in or industry you're in, always somebody's watching, so somebody's younger than you is watching. So always try to be a good, positive Mentor for him, be a good advice or or a Sher they can talk to to lean on.

And Good Times ain't bad, yeah, no, I love that, CJ. I think that goes for anyone, but I think, especially when you have a platform, you have people that look up to you. I think that's great advice. So well, perfect. Well, CJ, thank you for doing this interview, thank you for being here and giving your Insight and, once again, if you have anything that you think of that comes up, let us know and we'll be sure to add it to the show.

But I just want to say thank you so much. No, man, thank you, appreciate it. Perfect. Thank you, CJ. Thanks.

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