4 Key Business Lessons From Tennis Star and Entrepreneur Venus Williams

Extractive Summary of the Article | Read | Listen

Venus Williams is living proof that success–on and off the tennis court–can require advocating for yourself. In 2007, after years of fighting on behalf of herself and all women tennis players, she became the first woman to receive equal prize money to male champions at Wimbledon. 

Williams’ resume as an investor and entrepreneur is no less impressive.  And somehow, Williams also found time to write Strive, a book about the lessons she’s learned in her career and “how to find your awesome,” which was published in September.  Williams spoke to Inc. about the financial lessons she’s learned during her career and why staying balanced is a myth.  Four of these lessons are:

1. Know when to pivot.  Being a successful entrepreneur requires being agile in the face of changes, such as new technologies, fluctuating interest rates, and even global politics. 
2. Find balance each day.  When you’re busy pursuing your dreams, finding balance all the time is unrealistic–something Williams knows well as both an athlete and a business owner. “I try to find a moment of balance every day,” says Williams, who likes to watch romantic comedies, even if it’s something she’s seen before or it’s playing in the background as she catches up on email. “When you find your moment every day, it helps you to maintain that strength to go forward.”  
3. Be strategic about taking a leap.  Maintaining an outside source of income can provide a sense of security and a financial cushion when you take the leap to start a new venture, says Williams. “There’s definitely a misconception that most successful entrepreneurs quit everything. You don’t have to give up the day job right away,” she says. “Having that peace of mind also gives you more clarity to focus on what you need to do, because you’re not so worried about, how am I going to keep the lights on?”  
4. Be proactive about your finances.  Williams says she wishes she’d known about the power of taking on debt to finance future opportunities and build wealth when she was younger.  “I would encourage everyone to understand the power of financial planning, whether that’s how you save or how you leverage debt,” she says. “You don’t save every penny,” she adds. “You want to still experience life today.”