🔑 Key Takeaways
- Grammarly helps professionals make documents clearer, more direct, and more concise, saving significant time. Trustworthy with sensitive information due to commitment to responsible AI and data security. Women's soccer sees increasing valuations and popularity, offering an exciting and competitive environment.
- Frustration over unmet demand for women's soccer led to the creation of Angel City FC, now a $200M franchise, demonstrating the power of identifying market gaps and using innovation to fill them.
- Staying true to your goals and believing in the potential of your ideas can lead to success despite initial challenges
- Showing enthusiasm and personal connection can be more persuasive than data when pitching an idea. Experiencing the passion firsthand can lead to greater commitment and involvement.
- Creating a profitable business model and attracting a large fanbase are keys to success in sports teams. Women sports teams with no sports experience can overcome obstacles by focusing on these areas and gaining credibility through high-profile partnerships.
- Rejection is normal in entrepreneurship, but staying true to your mission and pivoting when necessary can lead to success
- By focusing on social impact and mission, Julie attracted high-profile investors who not only provided capital but also brought valuable connections and expertise to Angel City Football Club.
- Involve fans in branding, prioritize inclusivity, align with values, and give back to community for deep-rooted engagement and organic marketing.
- Setting high goals, recognizing community importance, and fostering a winning culture can lead to remarkable success in entrepreneurship, even in industries with low expectations.
- Asking questions and staying relentless can lead to great things, as shown by the success of Angel City football. Building a supportive community is essential for success and challenging the status quo.
📝 Podcast Summary
Improve document clarity and save time with Grammarly
Grammarly is a valuable tool for professionals, especially those in research or content creation, as it helps make documents clearer, more direct, and more concise, allowing users to save a significant amount of time. Additionally, Grammarly's commitment to responsible AI and data security makes it a trustworthy choice for handling sensitive information. On a different note, the growing trend in women's sports, specifically women's soccer, is another intriguing takeaway. With increasing valuations and a dedicated fan base, women's soccer is experiencing a surge in popularity and investment, creating an exciting and competitive environment. Both Grammarly and the rise of women's soccer offer valuable advantages in their respective fields and are worth exploring further.
Identifying an underserved market
The Angel City Football Club's success story is a testament to the power of identifying an underserved market and using innovation to tap into it. Co-founders Cara Norton, Julie Erman, and Natalie Portman set out with a clear mission: to elevate women's sports as a valuable business, drive gender equity, and create a strong brand that doubles as a community and social good platform. The trio's determination and passion led to the creation of a soccer franchise that's now valued at over $200 million, surpassing any other women's sports franchise in American history. The journey began with Karen Nordman's frustration over not being able to find a jersey for her daughter after watching the women's World Cup finals. This sparked her curiosity and led her to realize that there was a demand for women's soccer beyond major tournaments. By asking questions, tapping into a network of like-minded individuals, and staying persistent, the Angel City Football Club was born, demonstrating the importance of identifying a market gap and using it to create something innovative and impactful.
Overcoming challenges in women's soccer
Persistence and a clear vision can lead to the creation of something new and impactful, even when faced with initial challenges and setbacks. Cara, inspired by the lack of investment and representation in women's soccer, kept following her instincts and eventually met Natalie Portman, who shared her passion for the sport. Together, they formed a friendship and, with the help of Julie Ehrman, started a new team. Despite the challenges they faced, they remained dedicated to their vision and eventually built a successful venture. This story illustrates the importance of staying true to your goals and believing in the potential of your ideas, even when they may not be met with immediate success.
Demonstrating passion and experience through experience
Showing passion and experience can be more persuasive than just presenting data when trying to pitch an idea. In the story, Kara and Natalie Portman wanted to start a women's football team in LA and approached Julie, an entrepreneur, to join their team. Instead of explaining the potential profits or fan base, they took Julie to an LFC soccer game to show her the fans' passion and energy. This approach was more effective in convincing Julie to join the team, as she was moved by the experience. However, starting a professional soccer team involves more complex processes than starting a tech company. It requires raising millions of dollars, gaining approval from the league and local agreements, and overcoming various challenges. This example demonstrates the importance of showing potential in a pitch, rather than just telling, and the unique challenges involved in starting a professional sports team.
Building a successful sports team vs tech industry
Building a successful sports team can be more straightforward than building a technology team due to the unique nature of sports as a local business. Unlike tech industries where competition is fierce and businesses guard their secrets closely, sports teams can share information more freely without directly competing. However, making a profit in sports can be challenging as many teams operate at a loss, and the key to success lies in attracting a large fanbase to fill the stadium consistently. Despite these challenges, Julie's team, Angel City, faced additional barriers as female founders with no sports experience. To overcome these obstacles, they focused on creating a profitable business model that could change the narrative around women's sports and prove its value and growth potential to investors. Having a high-profile celebrity like Natalie Portman involved in the project added credibility and legitimacy to their endeavor.
Staying true to mission and pivoting leads to success
Persistence and pivoting are key to overcoming rejection and achieving success. In the story of Angel City Football Club, the founding trio faced numerous rejections from investors who didn't understand their vision of building a women's professional soccer team with a focus on equity and impact. Despite these setbacks, they didn't give up. Instead, they pivoted and focused on pitching to investors who aligned with their mission. As Julie Erman noted, "We're not going to the right people. We're not going to the people who understand that we're truly building a platform for equity and impact. And we're going to use that platform to drive towards equity using sports." This led to a successful pitch to Eva Longoria, who became an investor and helped turn things around for the team. The story serves as a reminder that rejection is a normal part of the entrepreneurial journey, and that staying true to your mission and pivoting when necessary can lead to success.
Leading with mission attracts like-minded investors
Understanding an investor's motivations and values can lead to more successful fundraising. In this story, Julie, the founder of Angel City Football Club, secured the first major investment from Eva Longoria. Eva was drawn to the company's mission to transform the narrative around women's sports and promote gender equity. By focusing on the social impact of the business, Julie was able to attract a series of high-profile investors, including Alexis Ohanian, Jessica Chastain, and Uzo Aduba, among others. This approach not only resulted in significant capital but also brought valuable connections and expertise to the team. The lesson here is that by leading with your mission and demonstrating its market value, you can attract investors who not only provide capital but also contribute to the growth and success of your business.
Creating a Meaningful Relationship with Fans
Creating a strong emotional connection with your customers or fans from the beginning is crucial for building brand loyalty. Angel City FC, a women's soccer team in Los Angeles, did this by involving their fans in the early branding process and making them feel like co-owners. This sense of co-ownership led to organic word-of-mouth marketing and a deep-rooted community engagement. Angel City also prioritized inclusivity and held their partners accountable by requiring them to align with the team's values. Despite not making the playoffs in their first season, Angel City sold out home games and brought unprecedented attention to women's soccer. By putting their money where their mouth is and giving back to the community, they set a new standard for sponsorship models. Overall, Angel City's success story demonstrates the importance of creating a meaningful relationship with your stakeholders and building a community around your brand.
Defying Skeptics: How Angel City FC Grew from Zero to a Multi-Million Dollar Franchise
Having ambitious goals and a strong community focus can lead to remarkable success in entrepreneurship, even in industries with historically low expectations. The founders of Angel City FC defied skeptics by growing their women's soccer team from zero to a multi-million dollar franchise in just a few years. They achieved this by setting high goals, recognizing the importance of community engagement, and fostering a winning culture both on and off the pitch. Their innovative approach to branding and business has served as a catalyst for other women's sports teams to follow suit. As Julie Ehrman, one of the founders, emphasized, "no upper limits" should be the mindset for any entrepreneur. By refusing to be constrained by past norms and continually striving for growth, Angel City FC has set a new standard for women's professional sports and inspired future teams to do the same.
Defying conventional wisdom and building a vibrant community
Questioning conventional wisdom and staying relentless in building the future you want can lead to great things, as demonstrated by the success of Angel City football. The founders, Kara, Julie, and Natalie, defied the notion that women's sports wouldn't sell by creating a vibrant and inclusive community around their product. This approach not only attracted fans but also challenged the status quo. The power of community and the importance of staying persistent in pursuing your goals are key lessons from this conversation. The Angel City football team's tradition of a soulful three-clap welcome serves as a reminder that starting something new, whether it's a football match or a business, requires dedication and the support of a community. So, let's remember to ask questions, stay relentless, and build the future we want to see.