NFIB

Famously Successful
12/ 04/ 2002

by Lisa Waddle

Researching this issue's cover story on celebrity entrepreneurs provided some real surprises. Not that the famous lend little more than their name to a restaurant or perfume, but the opposite-that many of the well known are intimately involved in the business ventures that bear their names.

As we examined the companies of former athletes, current movie stars and models, it became clear that those who are successful in the business world have much in common with our readers. True, you may not have the instant name recognition film director Francis Ford Coppola gets by putting his name on his wine labels. But the common denominator for the famous entrepreneurs profiled in this issue is that they are all following a passion.

Magic Johnson, for example, isn't just opening up a series of movie theaters. The former basketball star is on a mission to bring entertainment to the inner-city areas where most business owners shy away from. And Clint Eastwood bought the historic Mission Ranch hotel and restaurant in his hometown of Carmel because it was a place he liked to frequent, and it was in danger of being bulldozed for condominiums.

There's no argument that these celebrities have a definite advantage over the traditional small business owner when it comes to marketing. And some are so well off from their initial profession that they can afford to give away their earnings. Yet the fact is they still face the same bottom-line measurement that our readers do, and must deal with the same challenges of customer demand, hiring and delegation. At least you can go about running your business without running from the paparazzi.

Check out our story on celebrity entrepreneurs. And let us know how your passion for your business has helped you be successful.

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This article originally appeared in the March/April 2001 issue of MyBusiness Magazine, NFIB's member magazine.

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