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Grammy’s 2015: Sam Smith, Beck And Kanye (Entrepreneurial Lessons Learned)

Here’s a look at a seven star-studded business lessons for the entrepreneurially inclined.

  1. There’s such a thing as overexposure. (Tweet This)

    Australian songwriter “Sia belted out ‘Chandelier’ with her face obscured … turned away from the audience, her eyes hidden behind layers of funereal black tulle.” Sia is rejecting fame. Which has made her more famous than ever. And it shows that Sia understands the celebrity brand game. Overexposure can discount your brand. Not convinced? Just ask Coach, a pioneer of affordable luxury, about their decline.

    The company attributed “its fall to rapid expansion, particularly into outlet stores, which they say tarnished the brand’s high-end image. At their peak in 2013, Coach’s outlet sales accounted for as much as 70% of retail sales, according to Paul Lejuez, an analyst with Wells Fargo Securities. Coach says its problems stem from a lack of investment in full-priced stores and too many promotions.” (The Wall Street Journal) Overexposure can be likened to saturating the market with promotions.

    You may not need to be everywhere, but instead at the right place at the right time.  JK Ellis, Author of Mind Control 101, explains: “Someone once told me that ‘There are no long lines for the guru at the bottom of the hill.’ Making yourself scarce adds perceived value but it also distances you from the masses. There is an ingenious compromise. Be accessible as a person, but present your knowledge and wisdom as being rare, expensive, mysterious, and only for those who are truly ready for it.”

  2. There’s power in thanking people publicly. (Tweet This)

    Speaking of cult-brands, Beyonce didn’t forget to thank her fans, the ‘BeyHive,’ in her acceptance speech after snagging a Grammy for Best R&B Performance for “Drunk in Love.”

    There is power in thanking people publicly. As entrepreneur Katie Lance explains make sure your heart is in the right place: “You have to have the best of intentions when you publicly thank someone. It can’t be because you want to look good on your social networks, or gain a lot of ‘atta boys’ it has to come from the heart, and be genuine. It has to be something you’d say the exact same way if no one was listening.”

  3. What you practice in private is rewarded in public. (Tweet This)

    On the red carpet, Katy Perry told Ryan Seacrest “they rehearsed for a month and practiced the show 40 times before she performed it live.” To paraphrase Tony Robbins, “What you practice in private, you will be rewarded for in public.”

    Like entrepreneurs, celebrities work incredibly hard to succeed. Onlookers often view a person’s highlight reel with little or no comprehension of what it looks like behind the scenes. Business Insider reports on this phenomena: NBA legend Michael Jordan spent his off seasons taking hundreds of jump shots a day. Starbucks CEO Howard Schultz continues to work from home even after putting in 13 hour days. Dallas Mavericks owner Mark Cuban didn’t take a vacation for seven years while starting his first business.

    The work ethic tied to success is undeniable.

 

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