When it comes to side hustles, the right approach will determine whether you are wasting your time or making a real profit. While there are plenty of examples of failed side hustles across the internet, a focus on the success stories provides a great insight into the potential that a well-planned approach to Business can have.

Take a look at the Australian sporting industry in particular, and you’ll notice that the side hustles of Australian Sports Stars are incredibly diverse and vary in their degrees of success. While some might be more inspiring than others, you’ll see plenty of examples where sports stars are making more money outside of their Sport than they are in it. When it comes to successful side hustles more generally, here are some of the top athletes turned business people.

Greg Norman

Starting with an Aussie, Greg Norman has built a business empire over the previous thirty or so years. Right in the middle of his golfing career, he made his first venture into the business world with the creation of Greg Norman Golf Course Design, in 1987. Following this, he started the Greg Norman Company in 1993, and has since undertaken a number of business ventures that span across real estate, clothing, wakeboarding, wine, finance, steak, and eyewear, to name a few.

With such a diverse business portfolio, Norman has accrued a net worth of anywhere between $300 million and $500 million, depending on where you look.

Conor McGregor

While there are plenty of Aussie athletes who have earned a fortune in their side hustles, we can’t overlook some of the overseas sporting stars who have done the same. Conor McGregor is one well known example - over the previous few years, he has launched himself to superstar status, with records in the UFC and across social media in terms of popularity and success.

While his social status might be considered a business achievement in itself, a more tangible side hustle is his creation of Proper Twelve, an Irish whiskey. In terms of Irish whiskey sales in 2020, McGregor’s brand achieved fourth place in international sales. Other reports indicate that in the first year of sales, Proper Twelve earned revenue of over $1 billion within its first year of sales.

In 2020, McGregor holds a place in the top 100 celebrity earnings list on Forbes, despite fighting only twice in the octagon since 2016.

Steve Smith

Back on the topic of Aussie sports stars, despite Steve Smith being one of the best cricketers in the world today, he is earning more off the pitch than he is on it.

He has invested in a number of startups, with his most profitable to date being Koala - with an investment of $100,000 in mattress company Koala in 2015, he received a 10% stake in the company, which today is reportedly worth $500 million. In addition to this investment, he has invested in various companies that include Snappr and Cashrewards.

On top of his startup investments, Smith is also the owner of a number of properties in Australia, with a property portfolio estimated to be valued at around $10 million.

Venus Williams

Looking at another international star, professional tennis player Venus Williams has made business ventures and investments across a range of areas. Even when you consider that she has a business degree, Williams has gone above and beyond when it comes to successful side hustles.

One of Williams’ earlier business ventures began in 2002, when she founded V Starr Interiors, a small boutique interior design firm. Based in Florida, the company has been involved in several major design projects, and is run today by Williams and six other designers.

On top of this, Williams is a franchise owner of Jamba Juice, has launched activewear clothing line EleVen, has invested in NFL team the Miami Dolphins, has been involved in a number of endorsement deals, and has even written her own book. Her net worth is somewhere around a reported $100 million USD.

Billy Slater

The final sports star on this list is another Australian - Billy Slater’s business performances have rivalled some of his Rugby League highlights. Even before his retirement in 2018, Slater was making some profitable business deals and starting interesting companies.

Firstly, 2016 saw the start of Billy’s Buddies, which is a ball sports program for kids. Bringing his Rugby League expertise to the business world has paid off so far, with the business winning multiple awards in recent years. In addition to this business, Slater co-founded Brick Lane Brewing Co in 2017, started horse breeding business Slater’s Thoroughbreds, and launched fitness program Move with Billy Slater in 2018. Slater is clearly a business minded sports star who knows how to diversify his portfolio, and today is worth around $20 million.