by Fago Franklin III
Today, there are so many possible role models and success stories. But as many hard-working Americans know, success doesn’t happen overnight. Many of the greatest success stories include overcoming adversity and have point at which the person had the opportunity to make critical decisions. NBA certified sports agent David Sugarman is a prime example of someone who made a dream into a reality by opening SugarTime, Inc.
Sugarman, after reaching the highest levels of success in the financial industry, decided it was time to make a change in the sports industry. After two years launching SugarTime Sports Management, Sugarman became an NBA agent in 2012 and within months signed his first clients.
While creating his vision, Sugarman never let his passions fail. He continued to serve as a Founder for Mount Sinai Medical Center and assist with a multitude of different non-profits. Above is a picture of Sugarman with client Jerome Dyson at the Washington DC Martha’s Table summer program. Sugarman and Dyson spent two-days working with the children in the program and speaking with them about planning ahead and keeping motivated.
He has founded his own agency called SugarTime INC in 2010 and has helped athletes all over the world with achieving their goals and supports them in every way he can.
Sugarman is a former Vice President at several prestigious Wall Street investment firms. In 2012, SugarTime Inc. was honored with the Miami Beach Chamber of Commerce 2012 Small Business of the Year award.
As a successful man and a pioneer to his community, it was only right that Fago Franklin III from L’Etage Magazine could get an inside view about the life of a sports agent.
David Sugarman and Jerome Dyson with the children of Martha’s Table
DS: In any career, it is very important to stay motivated. I created SugarTime to make a change in the sports agency and management industry – my motivation is to stay true to what I believe is the right way to work in this business and to maintain that standard until others see that change is possible.
L’Etage: I see in 2010 that you established Sugar Time INC, how did you come up with a catching name for your company and what had inspired you to become a sports agent?
DS: SugarTime is a “play” off of my last name Sugarman. I created the company because I thought it was TIME for a change in the sports business world. Too many athletes are not receiving the services they need. They have agents negotiating these multi-million dollar contracts, but they receive no support in how to spend and invest that money so that it lasts their lifetime. They receive minimal support on planning for their futures and how to create their own brand that lives long after their athletic career has ended.
L’Etage: I know that it is your job to search out the best athletes for you company, how do you pick which athlete you would be committed to?
DS: I believe it is important to find athletes that understand our goals and beliefs. It is easier for us to get athletes just out of college beginning their professional career, this is where we can make the most difference. I give all of my athlete’s one-on-one attention and it is important to me that the athlete and his family share in our vision.
L’Etage: As a sports agent you have to look out for the player, how do you explain to the athlete the importance of managing their funds and not go broke?
DS: Education doesn’t just fall to me. I have a great team of people who help me to illustrate the importance through everything that we do. When they sit with financial consultants, we make sure they have a complete understanding of what is offered to them. When we help them find housing and transportation, we work with them to balance what they want, with what they can afford. It is an on-going education process.
L’Etage: What is the advice that you would give individuals that are trying to get in the field and what is the advantages and disadvantages of being a sports agent?
DS: A sport agent’s life is hectic, with a lot of travel, meetings and honestly, selling. I am selling my vision to these athletes and their parents. I am selling my athletes for endorsement opportunities.
L’Etage: I see that you are a co-founder of Mt. Sinai Medical Center Foundation, what inspired to help and build a future with this foundation?
DS: I have always believed in giving back and being part of the community. Mount Sinai Medical Center does amazing work and continues to make advances in healthcare. I just wanted to be able to support an organization that supports so many others.
L’Etage: Outside of working, what do you do in your spare time?
DS: I try to spend as much time as I can with my wife, baby daughter and family. I have to travel for work, so when I am not traveling, I enjoy being home.
L’Etage: What made you decide to move from New York to Miami, was it a bigger market down there or you just wanted a different setting?
DS: I moved to Miami when I was still in the financial business. I stayed in Miami to launch SugarTime because the timing was right. Miami has been good to SugarTime, we were honored in 2012 as the Small Business of the Year by the Miami Beach Chamber of Commerce.
L’Etage: I know it’s a lot of criticism in the field, but how do you keep a positive drive when people are being negative? Do you let constructive criticism better yourself as an individual?
DS: I am always looking for ways to improve. I try hard to ignore anyone who sends doubts my way. I’ve work very hard to get where I am and to me, focusing on the people who believe and support the agency is always best.
It was very nice for David Sugarman to give the readers an inside view on the qualifications, quality, and responsibilities of being a sports agent. It takes time, but a boundary is not an achievement without hard work.
Twitter : @MiamiSugar
Instagram : verifiedsugartime
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