Many may know Rihanna from her music career with chart-topping music hits like “ Work”, “ Needed Me”, and “Umbrella”, but she is now carving her name into the charts of the entrepreneur.
Here are the 3 tips entrepreneurs can learn from Rihanna.
- Find your niche and dominate.
One of Rihanna’s most successful business is her Fenty Beauty makeup line. As reported on forbes.com Fenty Beauty repacked up a reported $100 Million in sales in its first few weeks. Many beauty products were previously made for fair skin individuals but Rihanna’s Fenty Beauty line was made to be inclusive to all skin tones.
With this strategy, she was able to infiltrate and dominate this void in the beauty industry. Rihanna made inclusivity important with her brand products and messaging. This messaging was well received and proved to be what the customers wanted, with more than 8,000 orders online during her launch in 2017.
While many musical artists are tight cast or pigeonholed to stick with business moves related to music, Rihanna has ventured out of the music industry to make major moves.
Often when entrepreneurs look to diversify they are often met with criticism from others telling them to focus on one thing or only focus on what you are an expert in. Rihanna has proved that it pays to diversify your income streams and open yourself up to different industries.
3. Failure is a Lesson
Rihanna embraces failure so much as a reminder, she has a tattoo that is written backward so she can read it in the mirror. The tattoo says “ Never a failure. Always a lesson”.
As entrepreneurs, it is important to remember that failures are nothing more than lessons. Instead of avoiding failures, they should be embraced as lessons. Many dreams and ideas are paralyzed due to the fear of failure. Remember you can never be stopped as long as you don’t stop!
*Image credit – Caroline McCredie/Getty Images