Everyone knows Beyoncé Knowles-Carter.
Her success as an R&B singer, songwriter, and dancer has earned her millions of fans around the world. Boasting her record-breaking 32 Grammy Awards, numerous chart-topping albums, and multiple sold-out tours around the world, Beyoncé has made her show one of the world’s biggest names in the business. is.
But what most people don’t know is that show business isn’t the only thing she’s good at. The pop star has launched various businesses over her years, entered into lucrative brand partnerships, and used her entrepreneurial skills to build her empire.
- Beyoncé’s Renaissance Tour in 2023 will bring $4.5 billion to the U.S. economy, the same amount as the 2008 Olympics brought to Beijing.
- Beyond musical performances, Beyoncé has branched out into a variety of industries, including film and video production, an athleisure brand, a fashion label, and even a vegan meal delivery service.
- In 2013, Beyoncé and Jay-Z became the music industry’s first billionaire couple, thanks to their various ventures both inside and outside the industry.
How did she become such a successful businesswoman and a role model for women around the world?
Destiny’s Child is made up of Beyoncé, Kelly Rowland, and Michelle Williams, all of whom have had successful solo careers. Source: AFP.
girl next door from texas
Beyoncé, known as Queen Bey by her fans, first rose to fame in the late 1990s as a member of the R&B girl group Destiny’s Child, one of the best-selling girl groups of all time.
During the group’s hiatus in 2003, she released her debut album, Dangerously in Love, and went on to release multiple albums that topped the charts over the next few years.
Over the years, she made a name for herself with her art, produced music, and even made her screen debut in notable films throughout the decade.
After her marriage to Jay-Z, she founded her own entertainment company, Parkwood Entertainment, to focus on video and film production. Their debut project was the music biopic Cadillac Records, starring and co-produced by Beyoncé.
Since then, she has set numerous records, including winning the most Grammy Awards, being the first black performer to headline Coachella, and producing the highest-grossing tour ever by a female artist.
Currently, her net worth is worth more than 800 million USDForbes ranked her 36th in its annual rankings 100 most powerful women list.
In addition to his many accolades, this megastar is also a successful entrepreneur, a skill he incorporates into his art.
But what is entrepreneurship?
According to Professor Howard Stevenson, the godfather of entrepreneurship research at Harvard Business School, entrepreneurship is the pursuit of opportunities beyond controlled resources.
Being entrepreneurial (as Beyoncé does) means being innovative, flexible, dynamic, risk-taking, creative, and growth-oriented in a business sense. It means that. On the other hand, the mediaThe term is defined as starting and operating a new business.
Here, take a look at the skills Queen Bey has put into practice during her entrepreneurial journey.
Beyoncé underwent a rigorous health regimen to regain her strength after giving birth to twins ahead of her performance at Coachella 2018. Source: AFP.
8 Best Entrepreneurial Skills from the Queen of the Music Business
Future-oriented thinking
The singer signed a $60 million deal with Netflix. exclusive, behind the scenes A documentary chronicling her 2018 Coachella performance.
In 2015, Uber made an offer to Beyoncé. 6 million USD To perform at an event in Las Vegas. She refused and requested that her shares be given in her place. Uber was a relatively mid-sized private company at the time, but it was already making a name for itself in the startup world.
Four years later, Uber went public, and the stock in Beyoncé’s name is now worth about 10 million yen. 9 million USD.
Beyoncé appeared on the Pyramid Stage as the headline act on the final day of Glastonbury Festival, Europe’s biggest music festival. Source: AFP.
commitment and dedication
“Everything she does has quality,” says Emily Eavis, co-organizer of the event. glastonbury festival, booked Beyoncé as the most important closing act in 2011. Her performance was successful and was rated as “.shake the earth”, some viewers commented on her perfect vocals and dancing.
What most people didn’t know was that she had been rehearsing for 80 hours outside the venue the week before the event.
A performer at heart, Beyoncé still focuses on continually rehearsing, preparing, and working on new songs and performances. She is known for her tenacious work ethic and her commitment to excellence in all she does, which is reflected in her live performances and the quality of her music.
Take control of your work
When Beyoncé began her career as a singer, she was managed by her father, Matthew Knowles. He was Destiny’s Child’s manager, but moved on to manage Beyoncé after her solo career took off.
It was a shock when Beyoncé fired her father in 2011 to manage her own career.
When I asked her why she did that, she claimed that it was important to her to always do things the right way. She has always been careful about editing her own music and videos, and she wants to have full creative control over her own art without being controlled by others, including her family. Ta.
Beyoncé was cast as Nala in Jon Favreau’s “The Lion King” and became a hot topic of conversation. Source: AFP.
Bold and unconventional marketing strategy
In 2013, Beyoncé released her fifth solo album. zero warning Or a promotion.
At the time, pop music still relied on traditional marketing strategies such as lead singles, promotional pushes, and teasers. Despite opposition from the company, she released the album beyonce on iTunes without those promotions.
This incredible move was part of Beyoncé’s three-pronged strategy and showcased her exceptional entrepreneurial spirit.
First, she wanted to release a full album soon. Second, she wanted to avoid leaks. And last but not least, she wanted each song to have a video. And it worked.
the album sold 617,000 copies It easily soared to number one on the Billboard 200 album chart in the first three days alone.
Diversification of income
Queen Bey is no stranger to diversification. Her roots started with music, but that’s not the only way she makes money.
In addition to her entertainment company, she frequently negotiates and collaborates with major brands.
she US$50 million endorsement deal Along with Pepsi three part contract He reportedly signed a deal with Netflix for $60 million, previously collaborated with Adidas, and even launched and shut down his own activewear brand. ivy park.
In her spare time, she also successful investoreven being named a “significant investor” by the companies she invested in.
Beyoncé sang the national anthem at the 57th Presidential Inauguration Ceremony. Source: AFP.
networking
By making friends in high places, Beyoncé proved that her influence extends far beyond her voice.Barack Obama also called the singer. role model He even shamelessly shared some of her songs for his daughters. Social media.
in spite of being an introvert, Superstar is a powerhouse when it comes to networking and ensuring collaboration. She has worked with celebrities such as Ed Sheeran, Lady Gaga, and Nicki Minaj.
And yes, we’re still waiting for “Telephone” part 2.
Building a community
Beyoncé’s Beyhive is more than just a fan club. We are a vibrant community of supporters.
Singers regularly connect directly with their fans to understand their needs and mobilize them for various causes. She frequently uses social media to speak to her community by sharing personal moments, promoting empowering messages, and thanking her fan base.
In return, Queen Bey is enthusiastically supported by millions of supporters around the world.
inspire others
From the beginning of her career, Beyoncé had a strong network of women who helped shape her trajectory of success. Therefore, it made sense to her that the message through her music is ultimately about empowering women.
“I try to write and sing songs that we as women need to hear,” she said. “I think sometimes it’s hard to realize how amazing we are. I’m so happy to be able to do that for women all over the world.”
