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How Nascar driver Joey Logano picks his brand deals

Published 2 weeks ago5 minute read

Joey Logano is a three-time NASCAR Cup Series champion. That means there are a lot of companies that would like him to be a spokesperson for their products. So how does he choose which deals to do? Find out in the video above.

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00:00 Speaker A

You know, when you think about the deals that you've been able to make over the course of your career, where and how do you assess and look back at some of the deals that maybe you had to walk away from. What are some of those values that you, when you're discussing with CEOs of companies, say, hey, this is what I need represented, if this is going to be done right, and if there's going to be any type of dollar figure that we're discussing or exchanging.

00:25 Speaker B

Well, how long you want to be around? Right? That's the first question you want to ask, and how, where your morals lay as well, right? Is it something that you really truly believe in and want to promote, uh, to help not only the brand that you're promoting, but the people, the consumer, right? That's, that's purchasing that product. Um, you want to make sure that you were on the same page with, with that. Um, and also, like I said, authentic to something I'm actually going to use, right? Like it's hard to promote something that you don't use in the day-to-day aspect of things.

01:08 Speaker A

For younger drivers out there, what's, what's your advice for them? Building kind of the early pillars and foundation for their own wealth that they might be trying to make sure that they're accruing over time, knowing that there's some significant input costs that go into this sport as well.

01:30 Speaker B

Yeah. Well, I mean, it's, it's tough for athletes because you're jumping into something head first, right? And you grow in business, you know, it's kind of a slow growth typically. But for an athlete, you're like, boom, you hit it. And you're like, whoa, I got, you know, you're making big bucks all of a sudden. You're trying to figure out, how do I invest it the correct way? How do I find people around me that I trust? Because that's scary, right? Trying to find the right people. Um, and I think the biggest thing is you got to learn yourself. You got to take the time to, there's plenty of ways to learn now, right? Like, you can learn about finance without going to college. You could watch the finance. Yeah, you have a channel right here. You can do that. There's plenty of ways to educate yourself these days. Uh, I think that is one of the most important things, um, to do that, and not just be somebody that just drives the car or just does whatever that one job is. Try to expand, uh, your horizons a little bit and see the other opportunities there. But understand that as an athlete, it's here today, it's gone tomorrow, right? There is a very short shelf life. So you have to maximize while you're on top, right? Because not only is that big paycheck going to go away someday from not doing what you do, but also you're, you're not as relevant someday, right? You go 10 years down the road. Is anyone going to care who won the 2024 NASCAR Cup Series champion? Like, I, I don't know if it's going to matter that much anymore. So you got to capitalize right now while the iron's hot.

04:03 Speaker A

You know, just lastly, while we have you here, you also have a, a significant philanthropic efforts that is core for a, a lot of athletes to really think about. Once they come into wealth, what am I doing with some of this money to also help either the community I came up in, or some of the initiatives and missions that I know I would like to see further advance. What, what really inspired your heart to be able to take some of that earnings, and then also put it to work helping other people as well?

04:45 Speaker B

I think you have to ask yourself, and no matter what you're doing in life, is why am I doing it, right? And I'm making the world a better place. And when I take a step back and I look at what I do for living, I'm driving a car in circles for 500 miles to end up in the same place. Am I making the world a better place? Uh, maybe some people enjoy watching racing, I bring some smiles to faces, those type of things. But am I really, I don't feel like I'm doing enough, right? And so God's given me this incredible platform to, to inspire people to live a life of generosity. If we can talk about it and, and attitudes are contagious, we say it all the time, right? If you can talk about this stuff, maybe it's enough to trigger someone. For us, foster care is, you know, our main mission. Uh, we absolutely love the, the foster community, the kids. Not only the kids, but the families that are willing to, uh, put so much into a child they haven't met before that's been really put through the ringer. And nine times out of 10, it wasn't their decision, right? So really have a huge heart for them. Uh, we're going to do a lot of great things, uh, together and, and, uh, it's a long-term investment, right? I, with children, that's what it is, right? You're not going to see immediate, you know, difference. It takes years and years and years of, of great people, great hearts, um, to be able to, to really make a difference in a kid's life. And that to me, that's the why. That's what it's all about.

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Yahoo Finance
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