"It just goes back to what my goals and dreams are about" - Michael Phelps on expanding his brand outside of the pool

Michael Phelps is a fan favorite when it comes to swimming. He retired from competitive swimming in 2016 post the Rio Olympics, having won 66 gold medals across several international competitions, including the Olympics.

Outside the pool, Phelps also launched himself into the world of business with his own brand of swimwear, Phelps Brand. The swimmer spoke to Lee Hawkins of the Wall Street Journal about his brand and life, post retirement.

During the interview on the show titled The Business of Celebrity in 2019, Michael Phelps and Lee Hawkins discussed several topics, including the expansion of his brand as a normal person and not as an athlete.

Upon being questioned about how he expanded his brand outside of being an athlete, Phelps replied,

"I mean, it just goes back to really what my goals and what my dreams are about, what I wanna do with myself, my life, and my brand."

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Michael Phelps on developing his brand, visualization, and Kobe Bryant

Lee Hawkins and Michael Phelps spoke about visualizations in Phelps' career. Phelps said the visualization helped him in his competitions. He would be prepared for different outcomes of the competition rather than being underprepared and with a lack of focus.

The host further asked Phelps whether he had used the process of visualization in his life post retirement. Phelps confirmed that he did. The ace swimmer felt both swimming and normal life were the same. He felt his goals were like a star in the distance.

Phelps revealed everything that he wanted to do with himself, his life, and brand. The GOAT Olympian wanted to build a team but as a brand that he loves and is excited about. He said it was absolutely perfect for him to open his own brand and continue to work with his partners from across his career.

Michael Phelps during the U.S. Olympic Team Swimming Trials in 2016

The Baltimore Bullet also added that post-retirement, he was able to do the things he loved. He was still able to get the support of his sponsors and everyone else. Phelps' felt his activities could change the way the world is looked at. This motivated him to get out of bed every day.

Michael Phelps felt his own swimming brand could help change the world. Several athletes have their own brands and several business ventures. Lee Hawkins also questioned Phelps about whether he had spoken with other athletes who have their own brand.

Hawkins asked Phelps if he was able to speak to star athletes like Michael Jordan and Tiger Woods. Michael said it was super fun "to pick Kobe's (Bryant) brains a little bit" about certain things. Phelps further added,

"When it comes down to the end of the day, it really just, it's what your dreams and what your passions are. That's the biggest thing."

Michael Phelps said only dreams and passions mattered at the end of the day. According to him, that was the most important thing. The ace swimmer felt it was about finding a way to achieve dreams and passions. Phelps felt he and Kobe had the opportunity and privilege in their respective sports to be successful.

Michael Phelps and Kobe Bryant (Image via cnbc)

Michael Phelps said he and Kobe knew the requirements to get to the top level. He added that it was always a challenge for athletes to find the same motivation outside of the sport. He felt the business venture was "a fun and new process."

“We’ve had the privilege and the opportunity in our sports to be successful or reach that pinnacle, and we know what it takes to get to that top level. So now it’s always the challenge, I think, for the athletes to find that drive outside of the sport; it’s a fun process and a new process.”

Hawkins stated that everyone had seen a lot of young athletes struggling with money. He asked the ace swimmer whether he remembered his first big pay check and the realization that it was life-changing money and a heavy responsibility. The champion swimmer replied that he signed his first contract at the age of 15. Phelps didn't know about the money he was earning and wasn't eager to know.

The GOAT swimmer knew that as long as he continued swimming and training, everything else would work out on its own. Michael Phelps added,

"I was doing it because I loved what I was doing."

Phelps continued that he was lucky to have some good talent and an incredible work ethic. The champion swimmer insisted that if he wasn't swimming, he wouldn't have achieved anything else. He said he prioritized his job before anything else. Lee Hawkins was appreciative of Phelps' maturity.

Michael Phelps (Image via yahoo sports)

Since his retirement, Michael Phelps has been concentrating on his own brand of swimwear and training gear by partnering with his coach Bob Bowman. He first launched his brand in 2015. However, the product was relaunched in July 2020.