Jim Carey, Adam Sandler, Denzel Washington, Jessica Alba – most of these names are known to the world, especially citizens of developed and developing nations. But while most ordinary folks are following the latest news and gossip on these A-list celebrities, such as baby bumps, pet photos, and relationship statuses, business owners can actually use these successful actors and actresses to learn something about how to better manage teams and companies. Here are the top five business lessons you can learn from top-earning celebrities.
Dare to be Different
Leonardo DiCaprio, Johnny Depp, Christian Bale, and Tilda Swinton are all known for their successes in the film industry, receiving multiple rewards and making millions through their rare talent. These top-earning celebrities didn’t reach the peak of their careers just by playing safe and taking minimal risk. They went out there and took versatile roles, roles that couldn’t have been pulled off by other names in the industry. As a business owner, ponder on the fact that there are dozens if not hundreds of similar business products, services, and models out there. To avoid ending up a mediocre company even after decades of hard work, dare to be different. Try out new product lines, test new business models, and engage new target markets.
Focus on Your Niche
Have you ever wondered why you don’t like Justin Bieber’s latest album and yet it makes him millions every year? Or perhaps why you’ve not seen any of Marvel franchise’s superhero films and yet millions of people flock to local theaters every time there’s a new movie release? Successful celebrities know who their target market is and they funnel all their energy into that market. They don’t try to appeal to everyone on planet earth because they understand it’s an unworthy cause. As a business owner, focus on finding your niche. Is your brand targeted towards fitness enthusiasts or technophiles? Older or younger age groups?
Time Management is Crucial
Although the media covers the life of celebrities as being mostly glamour and fame, that’s rarely what their schedules actually look like. Celebrities race from country to country to shoot scenes for their films, meet and greet fans, and attend formal events to network with future coworkers. Successful celebrities, however, have learnt how to manage their time wisely. Many have even launched two movies in a year, thanks to their ability to manage schedules. Of course, they have personal assistants to arrange these schedules, but their efforts of actually moving non-stop without wasting any bit of time is what enables them to succeed. As a business owner, wisely manage not only your time but other resources as well.
Don’t Just Be a Pretty Face
Celebrities know that projects won’t always come knocking on their doorstep. They put their earnings into good use, building businesses of their own or investing in existing ones that they trust and support. Businesses should strive to diversify as well. Product lines, for instance, can be expanded to fit changing customer needs and to give the brand more revenue streams rather than relying on one sales channel to generate profits each quarter or year. If you are short of business funding to implement new strategies, turn to AFN for help. Advanced Funds Network makes it easier to get the capital you need, with a relatively short approval time average of two hours.
Think Big But Start Small
Robert De Niro, Meryl Streep, Jack Nicholson, and other Oscar-winning celebrities didn’t start their careers with huge films. Most celebrities had to work they way up from B-rated movies that few people paid for to see. Nonetheless, starting small and working your way up the ladder is something that business owners should learn from successful celebrities. Only through this round-the-clock grind will you be able to build a strong and successful business.
The next time you watch your favorite celebrity or movie, amidst the entertainment, try to understand and relate to the entrepreneurial values their characters or their real personalities give off. If there are none, perhaps it’s best to look for new celebrity role models who can teach you a thing or two about business success.
