Former New 17ŗŚ¹Ļ³ŌĮĻĶų Saints star receiver Marques Colston has a philosophy that he calls āirrational confidenceā that has propelled his success on the football field and in boardrooms across the country. It is the belief that if you put in the hard work and preparation, you can achieve success despite the odds, Colston said during a speech at the University of New 17ŗŚ¹Ļ³ŌĮĻĶų.
āDonāt be afraid to fail,ā Colston said as he recalled a very āpublic and painfulā moment of dropping a pass in front of 70,000 football fans.
āThey will let you know that you messed up!ā Colston said.
However, the former NFL star said he also has a Super Bowl ring, remains the Saints all-time leader in receptions and total touchdowns, and has a business degree thatās allowed him to transfer some of his gridiron skills into the business world.
Colston gave the keynote address on Thursday as part of the University of New 17ŗŚ¹Ļ³ŌĮĻĶų Management Week, which features visits by business leaders from across the region to classes in the College of Business Administration to share their stories and insights with students.
āFailures are only failures if you allow them to be,ā Colston told a packed auditorium filled with students. āBeing able to translate very public failures . . . and move forward is a key aspect of entrepreneurship and management.ā
Statistically speaking, Colston, who was a seventh-round draft pick from off-the football-radar Hofstra University, wasnāt supposed to have a professional football career, he said.
āAs a seventh-round pick youāve got maybe a 3 or 4 percent chance of becoming a starter at some point in your career, and even when you do make the team your staying power is 3 Ā½ years,ā he said. āFor me to be a day-one starter and stay 10 years and win a Super Bowl on top of that, none of that was supposed to happen. Iām not supposed to be here.ā
His āirrational confidenceā bespoke another reality, he said. One in which he flipped the script and wrote his own success story. That same philosophy translates into the way he handles his business ventures, he said.
āUnderstanding that if thereās a 1 percent chance thatās somebodyās going to make itāyouāre the 1 percent,ā Colston said. āAnd the way you become that 1 percent is your approach, your work ethic and literally getting yourself in a position where thereās nobody in the world thatās going to outwork you and take whatās yours. You plant your flag early on.ā
Colston, who retired from professional football in 2015 after 10 years with the Saints, also talked about the business failure of four of his companies, and how that led him to create other better companies that were more sustainable.
āPosition yourself to learn from your failures,ā he said. āItās going to happen, more than once and thatās OK.ā
Colstonās topic, āStriking a Balance: Life as a Serial Operator,ā explored the different roles he plays in a number of his varied business ventures that are located all over the country.
Colston is the founder and managing partner of Dynasty Innovation, a strategy and execution firm focused on marketing, branding, sports and education. He also is a partner at Timeless Herbal Care, a Jamaica-based cannabis company focused on all aspects of the international medical cannabis industry.
He is the managing director for the Center for Innovation at Virtua Health systems, and also serves on the advisory board for the One Team Collective, a sports technology accelerator run by the National Football League Players Association.
As a business owner, investor and digital strategist, Colston touts himself as a leading growth entrepreneur āat the intersection of sports, technology and digital media.ā
One of those business ventures is Main Squeeze Juice Co., a New 17ŗŚ¹Ļ³ŌĮĻĶų-based fast-casual juice and smoothie bar that has several franchise locations. Colston and his wife Emily, who is an alumna of UNO, are partners in the venture. Colston is director of business development.
āI knew nothing except that I like to consume them,ā Colston joked, before explaining how he researched the industry and the company and developed a relationship with the juice companyās executives before deciding to invest.
Something heās learned as a businessman is understanding what he brings to the table, and knowing how to āexpand his lane,ā while not overextending himself by taking on roles better suited to other business partners or associates, Colston said.
āFor me itās a matter of understanding what is your value,ā he said. āDonāt ever compromise on the value that you bring. You can never compromise on the value that you bring to the table because you work hard to create those assets; you work hard to create those values.ā