Steph Curry has disrupted the game of basketball by making nearly impossible three-point shots. The six-time All-Star has been named the NBA's Most Valuable Player twice and has three championships under his belt.
As one of the world's most marketable athletes, the 31-year old was was No. 23 on this year's Forbes list of the 100 top-earning celebrities at $79.8 million. Curry set out into business early in 2015, when he cofounded the tech start-up Slyce and is now working to grow his portfolio of investments.
"I'll call it running the game on the court, being disruptive, playing the game my way, my style. I bring that same mentality to how we make sound judgments and investments," Curry said during an interview with Bloomberg.
Curry's privately held firm, SC30 Inc., manages investments, media, philanthropy, and brand partnership interests. The firm's portfolio funds companies like SnapTravel, a hotel-booking platform, and more recently Guild Education, which helps Fortune 1000 companies offer debt-free degrees to their employees. While the Oakland, California, company keeps specific financial information private, it contributed to SnapTravel's total Series A funding of $21.2 million.
You don't become one of the world's most recognized athletes without practice. Curry has used that lesson, and lots of others he has learned on the court, to succeed in business and investing as well. Here's how.
As the leader of the Golden State Warriors, Curry knows that one person alone can't carry a team — and building a good team is also crucial to any business.
To give his business a better chance of success, he recruited Bryant Barr, his college roommate and former teammate while at Davidson College, to be his investment partner.
"Barr's entire experience since leaving college has led to him to be prepared for this opportunity in this moment," Curry tells Entrepreneur.com. "What I've been able to do on the basketball court to create a platform and to be able to leverage and impact [helped us] dive into these business ventures."
At Slyce, Curry made it a priority to welcome each new hire to the team with personalized videos. "There's trust, excitement, and ambitions, and everyone knows their roles and responsibilities," he explains, describing the energy of a start-up and how it can differ from basketball.
Curry knows that having strong teammates is important in both sports and business. "The sports world is a little more fluid than [business]," he says. "It's not just about one person. You can have all the talent in the world as an individual, but if you don't have the right people around you, then you're not going to accomplish anything great."
Video by Jason Armesto
Just like a basketball team switches up its plays during a game, diversifying your portfolio is the way to guard yourself against the risks of the market. Diversifying to include a mix of different investments ensures that your portfolio's performance isn't dependent on that of a single company or industry.
As legendary investor Howard Marks recently explained to a high school investing club: "We diversify to protect against what we don't know. ... I've never met anybody who has a one-stock portfolio."
Investments like ETFs and index funds offer built-in diversification by letting you buy an assortment of assets all at once. And when it comes to saving for retirement, there are target-date funds made up of a mix of investments that changes over time, depending on when you plan to retire.
With the right mix, you can stay on track to meet your goals and build wealth yourself.
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