Many artists, including Jay Z, Rihanna, and Dr. Dre, have ventured into areas beyond music and started businesses in other fields, including fashion and technology. These examples prove that it is possible for a talented person to create successful companies even outside recording studios.
Entrepreneurship has been on the rise in the United States. According to the U.S. Chamber of Commerce, small businesses make up 43.5 percent of America's GDP and employ close to 50 percent of the nation's labor force. Many musicians have seized this opportunity through entrepreneurship.
Jay-Z Turned Entrepreneurship Into a Global Empire
One of the most famous musicians who started a business and succeeded is Jay-Z. He has helped in creating companies in various industries, such as:
- Music
- Sports management
- Streaming
- Luxury goods
Among the entrepreneurs' ventures are Roc Nation and the streaming service Tidal. This success illustrates how great business ideas might turn into huge corporations with proper planning and management.
Rihanna Built a Successful Company in Beauty and Fashion
Rihanna became a global business leader thanks to her cosmetics and fashion brands. One of her products was especially popular because of offering products for diverse skin colors.
Her success illustrated how celebrities could create business products to solve the problems of customers. Today, her brands are world-renowned and have greatly influenced the beauty industry.
Dr. Dre Expanded Into Consumer Technology
Dr. Dre stepped into the technological market by developing Beats Electronics. This company is well known as an audio equipment manufacturer. Innovation, product quality, and good branding were key factors in the development of Beats, as it was bought by Apple, which became one of the biggest acquisitions related to celebrity firms.
Businesses like these often invest in research, testing, and product development services to improve new ideas before they reach consumers. This process helps companies reduce risk and improve customer satisfaction.
Jimmy Buffett Created a Lifestyle Brand
Jimmy Buffett created his music career into an even larger business enterprise. The Margaritaville brand was developed by Jimmy Buffett to include restaurants, hotels, resorts, and entertainment locations.
What started as a music theme turned into a well-established lifestyle brand. Jimmy Buffett's case is usually used as one of the best examples of personal branding turned into a startup business and lasting for many years.
Dolly Parton Expanded Her Brand Beyond Music
Dolly Parton created an impressive empire, including entertainment attraction facilities such as Dollywood Park, publishing ventures, and charities. Her example shows what kind of opportunities can be created by a musician for the local community and for business.
One of the largest entertainment parks in the world, featuring award-winning entertainment shows, Dollywood Park is 165 acres and situated in the Great Smoky Mountains. There are over 50 different attractions in Dollywood Park.
What Can We Learn From Musicians Who Started a Business?
These musicians are examples of those who were able to succeed beyond their music careers. Many of them started a business, introduced new products, and developed successful companies long after their songs became chart hits.
In the technology, beauty, hospitality, and entertainment industries, these musicians found a way to apply their creativity. Browse through our site to find more news on your favorite artists.
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