Amanda Banks has competed in high level gymnastics, ran a small business selling gymnastics apparel, and now helps other elite athletes transition from sports to the business world.
Starting out as a high-level gymnast who peaked at level 10, at age 10, Banks burned out and left the sport at age 12.
What gymnastics has taught her, helped her excel in the business world. Today, she has launched a new company called Sports to Suits to help elite and professional athletes transition into the business world once they face the end of their sports careers.
While Banks believes everyone is responsible for their own success, with many athletes coming forward with mental health concerns or voicing their challenges around financial literacy, it’s clear they need more resources than what have been provided to them by their respective sports.
“They’re not prepared with a clear and concise path or direction on where to go outside the sport mentally. They’re not prepared. They focused their energy and effort on the mindset of the sport, but not giving consideration to what that looks like in their next phase.”
That said, Banks believes athletes make incredible employees. They carry the same level of discipline, structure, and routine into business life.
“The misconception is if you hire them, they do not need leadership training. They do not have all of the answers coming straight out of the game unless they worked on their business acumen prior to retirement.”
Athletes do have grit and discipline, which can help them thrive off the field in a business career.