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9 Business Lessons To Learn From Taylor Swift As An Entrepreneur
Taylor Swift's expertise extends beyond music. She's a perfect role model for a young entrepreneur starting out new business. Read on to learn 9 business lessons from Swift herself.
Taylor Swift is not only a musical genius but she's also the world's richest singer, as per many reports. Whether you are a Swiftie or not, you must stop to marvel at her extraordinary entrepreneurial skills that got her to the top.
Throughout the years she has turned into a smart businesswoman, working with her own brand, and gradually creating an empire not only within the confines of music. She not only sold a gazillion records but also broke multiple records, selling out stadiums worldwide during her tours. Swift’s success can be attributed to something beyond her musical talent; it's a testament to her exceptional business savvy.
From famously owning the body of her work to developing authentic connections with her fan following, the Look What You Made Me Do singer embodies all the essential qualities of a true entrepreneur. Each of her features, be it flexibility, expanding her relevance, or managing her storyline, is a great inspiration to anyone desiring to make it in business.
9 Business Lessons To Learn From Taylor Swift As An Entrepreneur
If you are a musician, entrepreneur, or are just planning to become one, here are some business lessons from the successful career of the Shake It Off singer:
Trust the process and give it time
Rome wasn't built in a day much like Taylor's incredible career. She released her debut album in 2006 when she was only 16 and now at 34 years old, her net worth has surpassed 1.1 billion USD, as per Bloomberg. Throughout the years, Swift has been the realest. From singing about first loves to bad boys and breakups to smashing the patriarchy, Taylor's rise to fame carries a history of her gradual evolution as a songwriter.
Whether it is country music or the genre of pop, Swift cultivated the fruits of her own success with honest efforts and authenticity. For a new entrepreneur, it is easy to get disheartened quickly at the beginning, but one must learn from the Karma singer that being an expert in your area takes time.
Turn setbacks into growth opportunities
Swift has encountered her share of controversies such as public wars and legal wrangles. Instead, she manages to take these adversities in a positive light, as chances to improve and grow. Her album Reputation was made in light of some of the issues and went on to become one of her greatest albums ever. She got sued alleging plagiarism or copyright infringement for some of her biggest hits. For instance, Sean Hall and Nathan Butler filed a lawsuit against the Bad Blood singer for her Shake It Off lyrics.
As she sings in New Romantics, "I could build a castle out of all the bricks they threw at me", she delivered in real life.
She also got embroiled in a drama involving Kanye West, Kim Kardashian, and more lyrical controversies, AI deepfakes, and so on. However, Taylor has always bounced back on top each time someone came after her. In business there are always failures or stress – however, you can choose how you deal with it. For entrepreneurs, challenges should be regarded as opportunities to find creative solutions and to rebuild as more robust individuals.
Own your work
The most important factor from Swift’s experience is to make sure one doesn’t forget the need to hold on to their work. In 2019, her old label sold her master recordings away from her. Taylor Had to re-record her previous albums to regain the rights because as a performer when she left from her former label, she did not own anymore.
She took matters into her own hands and ended up selling millions of copies of her re-recorded albums creating a cultural phenomenon, popular among Swifties as Taylor's Version. This move highlights the significance of ownership and how it lets you dictate the terms of your own work. Most small business owners or entrepreneurs should do everything in their power to own as much of their product, service, or content.
Stay on brand
Swift's authenticity is reflected in her brand. It thrives with her music and public image. Turning her image into a business, she has diversified it into music, video sales, magazines, merchandise, and various other ventures. Each of her Eras opens wide business opportunities just via its branding.
People starting their companies have to understand how important it is to create a brand that represents the values of their company and connects with the audience. Good branding can become a great value for company development and client retention.
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Market yourself shamelessly and aggressively
In business, one thing you can't be is shy about selling your pitch, products, art, or content. Swift's ingenuity lies in her sharp marketing that reaches every nook and corner of her audience's world. You can't escape Swift's marketing. She is also very selective in the partnerships and collaborations she decides to enter.
Whether putting out a staggering number of album versions on sale including limited editions, or a plethora of accessible merch like t-shirts and sweaters, Swift's marketing genius knows no bounds. You can also get as creative as you can with marketing, thereby promoting your brand to ultimate success.
Make genuine connections
The Love Story hitmaker has a reputation for being extremely fan-friendly, openly looking for engagement on social media, sending personal gifts, and also having private listening parties. Very few celebrities are focused on building one-on-one connections with their fans like Swift. She has been able to command a fan base that is extremely supportive of her projects.
Young entrepreneurs should understand the importance of connecting with customers in the right way. Gaining a customer base through true relationships can prove to be more beneficial than those marketing approaches.
Remember To Be Real
Throughout the years, despite criticism from several music critics, Swift has been true to herself and her fans. She connects with her audience through her songs because she tells real-life events. Although she is a star, her songs are not only for her, they tell the story of the listeners too.
For those new to business, being your authentic self should be the easiest feat to achieve. Consumers tend to gravitate towards brands that are perceived to be honest about their actions and mission.
Diversify Your Revenue Sources
Apart from being a musician, Taylor is also engaged in endorsements, launching products and other ventures to wield more income. Swift hasn’t only partnered with brands like Diet Coke, Keds, and Apple, pr invested in real estate but she also had her own fragrance line to grow her business. Then there is, of course, her billion-dollar-grossing Eras Tours that sky-rockets her income.
Business people should find means to widen their avenues for income generation either through collaborations, product diversification, or simply opening up new businesses to create a cushion for money security.
Leverage Exclusivity
Creating exclusivity around her fans, music or any content is something Taylor Swift employs very well. Secret sessions to get her supporters hooked and limited edition CDs are just two of the numerous ways she has mastered the concept of exclusivity. In an industry, the application of unique value propositions such as content, deals, or products generates enthusiasm and response from consumers. Time-sensitive offers are also useful in positioning a product or a service.
There's no denying that Swift is a phenomenon not only as a successful songstress but she's also a true definition of a businesswoman. By applying Swfit's business principles, entrepreneurs can create a long-lasting brand despite the dynamic ups and downs in a constantly evolving market.
ALSO READ: 10 Backstage Secrets Taylor Swift Revealed In Her I Can Do It With A Broken Heart Music Video
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