Mar 4, 2019
There aren’t many 32-year-olds in any profession who have assumed the kind of leadership role that Stacy Lewis has in the world of professional golf. Not only by her 12 LPGA tournament wins so far, including two majors, or the fact that she was the first American woman in more than 20 years to win the LPGA Triple Crown — no, there’s more to it. Because a girl who grew up in a back brace, as she did, would not be a prime candidate to turn pro, let alone become number one in the world. She has stepped into controversy — less as a disruptor and more as a leader. She has inspired change and driven change. The companies she represents as a brand ambassador, such as KPMG, Marathon Petroleum, and now, Stephens, Inc., know to turn to her for much more than just club selection and putting tips.
Key Takeaways:
[:19] Ray Hoffman introduces the guest, Stacy Lewis.
[1:15] Stacy has a degree in Finance and Accounting from the University of Arkansas. This is a good qualification for talking about the business of being a professional golfer.
[1:28] Stacy had planned to get a regular job after school and not play professional golf.
[1:40] Ray lists some of Stacy’s many college golf awards that pointed her toward success as a professional golfer.
[1:54] Before college, academics was her focus. In the last couple of years of college, she started considering a professional golf path.
[2:13] How does Stacy apply her finance and accounting knowledge? It feels like her own little business. She talks about hiring, firing, and payroll, and accounting. Her classes prepared her for it. She pays another person to do her taxes.
[2:55] Stacy is CEO of Stacy Lewis. She runs her business on an Excel spreadsheet.
[3:19] Professional golfers are independent contractors. Stacy explains what that means. No one else is making decisions for you. A lot of people are not prepared for that. There’s a lot of pressure to play well because you have a lot of people to pay before you get the money, especially if you have no sponsorships.
[4:28] In college, Stacy did not know how much of a team she would need to employ as a professional golfer. She keeps her team really small. She wants people she trusts to tell her if she needs to change anything. She has a caddy, a swing coach, a trainer, an agent, a financial adviser, and an accountant. Plus her husband and her parents.
[5:50] Stacy contrasts the PGA and LPGA purse payouts. Stacy does not ever see the purses being equal in the twenty or thirty years she has left in her career. She expects the gap to get smaller. For now, women are making about a third of what men make. Today, women can make a living out of playing professional golf, more than before.
[7:23] Women tennis players have reached parity with men players. Venus Williams was a driver of that. It helped that men and women play at the same courts at the same time. It would take bringing the PGA and LPGA together to the same course to create change like that. The European Tour and the LPGA met at the Vic Open in Australia. It’s progress.
[9:15] What would it take to make a joint PGA/LPGA tour? A lot of money is needed to make the two purses equal.
[9:56] A smaller number of golfers from each organization would probably play, for a smaller purse. PGA players and audiences are sometimes surprised by the level of play in the LPGA.
[10:38] LPGA play is more relatable for the average male amateur player who does not drive as far as a PGA player. There is more finesse to the women’s game and more feel in the wedges and putter.
[11:10] Stacy would like to see a joint tournament at a Links course in Scotland, but it could be done anywhere. The biggest issue would be the course setup with tees. Links Golf is Stacy’s favorite style of golf.
[12:11] Stacy had a drought from 2014 to 2017 where she didn’t win a single tournament. In 2017, when she won a $195K purse, she donated the check to Hurricane victims in Houston. The Tuesday before the tournament the thought came to her, and she called her husband to discuss it. He said, “Let’s go win the thing!” It gave her a focus.
[13:04] Stacy is a fiery player, but that week she felt calm. She knew the outcome had already been decided and all she had to do was be there for it and enjoy it. It was a surreal week and a surreal experience. It’s been so cool for her to see the impact of that money, helping rebuild houses in Houston for eight families.
[13:53] Stacy tells how the donation was made to the St. Bernard Project to distribute the money in Houston for Hurricane Harvey relief.
[14:19] Last year, Stacy worked more on motherhood than on golfing. It has completely changed her world. It forces her to be more focused when she practices, and then get home to be with her daughter. Stay played a tournament in January, and her baby came with her, going to daycare while Stacy played. The LPGA Tour has daycare.
[15:14] There were four or five babies born to LPGA golfers last year. One of them also will come to a summer tournament. After success on the golf course, Stacy was ready for the challenge of motherhood. She still feels she can play some pretty great golf, coming back from this, as well.
[15:43] Stacy Lewis and Phil Mickelson are the principal faces of golf for KPMG. Stacy wears a blue hat, as for every blue hat KPMG sells, they donate five books to children in need as part of their campaign for literacy.
[16:17] Written into each KPMG sponsorship contract are things like wearing the logo, which everyone sees, and service days. Stacy and her instructors spend a full day with about 25 women clients invited by KPMG for instruction, playing nine holes, a scramble for fun, and a time to network. Other sponsors may ask for different services.
[17:04] There are five to six days a year that Stacy spends in service to KPMG and their clients for their sponsorship. There are also other meet-and-greets, social media posts, videos, and other things behind the scenes. Every sponsorship Stacy has requires at least a couple of service days, so they add up to quite a bit.
[17:28] Stacy’s agent is concerned about her time. She cannot take on any more sponsors and have time to play 25 tournaments in a year.
[17:50] Logo placement on shirts and hats determines how much they are seen on TV. The front of the hat is the number one location, then right chest, side of the hat, collar, and sleeve. The golf bag is low on the list. Camera angles are important.
[18:29] Stacy’s clothing sponsor is Antigua. To start the year, they send her a big box of shirts and update them if needed in the summer. In the fall, they have a new line of colors and designs, so Stacy gets another big box. Antigua does a tremendous amount of work in women’s golf. Stacy has worn Antigua for eight years.
[19:16] Stacy recently added Stephens, Inc. as a sponsor! Stephens has a soft spot for Razorback golfers like David Lingmerth and Stacy Lewis. Stacy was excited when Stephens Inc. reached out to her after she had seen the logo on the guys.
[19:41] Over the years, Stacy learned that she represents her sponsors wherever she goes. She chooses sponsors that share her values and make sense for her.
[20:19] Stacy has invited some of her sponsors to sponsor LPGA tournaments. She likes to push the envelope and increase the purses. Stacy pushed the idea both with KPMG and Marathon.
[21:37] Stacy received a phone call from KPMG, her lead sponsor, that her contract would be paid in full during her maternity leave, without playing the full year. Stacy remembers the phone call which she received sitting in the parking lot of Wilshire Country Club in LA. At first, she thought something was wrong. The call left her in tears.
[23:02] Most of Stacy’s other sponsors did the same thing, starting a trend. Stacy hopes the trend continues to support women having babies in the future. Lynne Doughtie, CEO of KPMG is passionate about women in the workplace speaking up for causes. She is amazing as one of the first women CEOs in her industry.
[23:42] Stacy’s high profile as number one in the world helped create a major precedent in sponsorships. She says she likes to change things! We can always make things better. She even got the maternity policy on the LPGA Tour changed. She wants girls to see that they can have families and play professional golf.
[24:24] The travel for the LPGA is harder than PGA travel, even in the last 10 years, with events in Australia, Asia, and Europe. As Stacy gets older, she won’t play as much internationally, with enough events in the U.S. to play a pretty full schedule.
[24:57] Stacy has not played the Evian Championship for two years. She told them she would not return until they made changes. They have made changes to the design of the greens. The big change is putting it in July when it is dryer. Stacy is excited to get back there. She feels like it will be a better championship, this year.
[26:40] Stacy takes leadership roles easily. It’s who she is. She’s the experienced voice on the tour. KPMG comes to Stacy after their tournament every year for her suggestions on what to do better next time. The LPGA Tour asks her the same questions. She continues to push the envelope. Some things may be out of reach but may work later.
[27:44] What one person does Stacy see as someone she wants to emulate as she moves forward? Stacy looks toward Karrie Webb, who is an unbelievable advocate for women on and off the golf course. She does a lot to support Australian girls coming up in golf.
[29:06] Stacy would love another dozen tour wins. She feels like she has a second start to her career after the baby. She asks, who knows what the second half has in store?
[29:20] Stacy Lewis is a CEO, professional golfer, and leader. This is capitalism.
Mentioned in This Episode:
Arkansas All-American Golfer Stacy Lewis at University of Arkansas