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5 business lessons you can learn from celebrity entrepreneurs

5 business lessons you can learn from celebrity entrepreneurs

Entrepreneurship

Globe myBusiness

Globe myBusiness

18 Mar 2019, 08:25 — 5 min read

Some people may think celebrities live a constantly luxurious life because of their countless endorsements, movie deals, and TV projects. However, many celebrities don’t see it the same way, realizing that their stardom is finite.

 

To create a more sustainable source of income, many celebrities put up their own businesses, which often become successful through their undying perseverance and hard work. In fact, business owners even long-standing entrepreneurs, can learn a thing or two from these celebrities, who manage what they have, to turn their startups into profitable ventures.

 

Discover how you can apply the same principles that helped your favorite celebrity entrepreneurs achieve success in their own business with the following tips:

 

1. Invest your money
It’s not enough to simply save money, you have to make it grow. The income of most celebrities often depends on the number of projects they have. One day you may have a handful of projects, but the demand may not be as strong in the future.

 

Celebrities recognize this volatility, which is why many of them choose to invest and put up a business instead of simply saving up and making lavish purchases. They choose income sustainability over abrupt and temporary luxury, a mindset that resounds in most serial, big-time entrepreneurs.

 

2. Be in the know
Most celebrities are active on social media. This helps them become aware of trends and latest happenings on everything that their supporters like. The knowledge base they build from their constant online presence helps craft creative ideas that spur their businesses.

 

Similarly, entrepreneurs must be in the loop of what’s in and out of their industry. They must be able to adjust themselves in order to tap into the gains of riding a trend and to apply the necessary measures to grow their business.

 

3. Play to your strengths
Celebrities, as we know, are popular. Whether they’ve been famous for a while or they’re new in showbiz, celebrities have an influence over the general public one way or another. Many celebrity entrepreneurs use their popularity to grow their businesses. Besides having the network to market their ventures, they use themselves as ambassadors of their own brand.

 

Entrepreneurs can do the same thing depending on what they are good at. Celebrities play to their strengths and business owners should do the same. Recognize what you have and plant the seeds of your business there. Use it as leverage to grow your business.

 

4. Keep working hard
Most celebrities have busy schedules. On a day-to-day basis, their plates are full of meetings, commitments, and shoots. Those who have businesses have even tougher routines. Still, those who want to make it big often put their best foot forward every day and work their way through the tasks they need to perform. They keep working hard to meet their goals.

 

Business owners must display the same rigor and hunger for success. Of course, there will be disheartening times, but remember that all hard work pays off in the end. Entrepreneurs must have a clear goal and the passion to continue pursuing it.

 

5. Solicit expert advice
Celebrity entrepreneurs, being public figures, have access to different professionals or experts. They do not shy away from seeking help and insight they need, especially when it comes to managing their own businesses.

 

Likewise, business owners should be proactive in seeking professional advice. Learning should be constant in entrepreneurship, and those who wish to do business should feel comfortable asking questions.

 

Business owners can indeed learn a lot from celebrities that braved the challenges of entrepreneurship to create their own success. With these tips, you’re sure to grow your business further and achieve the same success as your favorite celebrity entrepreneurs!

 

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Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.  

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