In 2016 Beyoncé’s platinum-selling album Lemonade saw her become the first female artist to have 12 concurrent songs running on the US Billboard Hot 100. An amazing feat, but that’s not all. Beyoncé the business woman and entrepreneur was also hard at work launching a new clothing line and more. Her talent and perseverance now sees her on Fortune’s prestigious Most Powerful Women list. We take a look at the entrepreneurial skills that have helped define her landmark successes.
Brand Confidence
“The most alluring thing a woman can have is confidence.”
“I don’t like to gamble, but if there’s one thing I’m willing to bet on, it’s myself.”
Without the innate belief that you have something unique to offer the market your brand is unlikely to succeed. Beyoncé has had an amazingly long and diverse career for such a young woman, and every step of the way she’s shown belief in herself, in whatever she puts her mind to. That’s not to say that your brand has to be perfect, but you do have to confidence in it.
Resourcefulness
“When I’m not feeling my best I ask myself, “What are you gonna do about it?” I use the negativity to fuel the transformation into a better me.”
“The reality is: sometimes you lose. And you’re never too good to lose. You’re never too big to lose. You’re never too smart to lose. It happens.”
Beyoncé’s being a multi-talented composer, singer, actress and business mogul still doesn’t mean there aren’t times when things go wrong. This is the case for every entrepreneur and one of the keys to being successful during dark days is to have the inner resources to re-think problems and change your business model if necessary. It’s all about not giving up when times are tough.
Partnerships
“Everyone’s not good at everything, it’s ok to depend on someone.”
In 2007 Beyoncé formed Parkwood Entertainment. In 2016 Parkwood signed its first three artists, all of them women. In April 2016 April she launched Ivy Park, a leisure clothing brand joint venture between Parkwood and Topshop, as well as investing in WTRMLN WTR, a water start-up, founded by women. As many entrepreneurs do, Beyoncé has branched out into ventures by networking with people who inspire her. No one can, or should, go it alone. For entrepreneurs wanting to diversify it’s important for them to consider different partnerships along the way.
Dedication
“Power means happiness; power means hard work and sacrifice.”
”I am a workaholic and I don’t believe in no. I don’t believe in I need to sleep. If I’m not sleeping nobody’s sleeping.”
While we’re not advocating a life that revolves solely around work, there are times during an entrepreneurial venture when it’s necessary to go above and beyond the comfort zone. Early mornings and late nights spent refining your business model will pay off. Keeping a long-term goal in sight will put short term sacrifices into perspective.
Giving Back
“We’re all in this together. Each and every one of us can make a difference by giving back.”
“I love creativity, but I also love to help others.”
In 2014 Beyoncé launched her charity foundation BeyGOOD which has successfully been raising funds for different causes since. Although not overly vocal about her philanthropy, she’s been making a difference by helping many people in need. Giving back, even in small ways, will indirectly nurture your brand, as Queen Bey says, “We’re all in this together.”
Goal Setting
“I felt like it was time to set up my future, so I set a goal. My goal was independence.”
“I’m over being a pop star. I don’t wanna be a hot girl. I wanna be iconic.”
“I can never be safe; I always try and go against the grain. As soon as I accomplish one thing, I just set a higher goal. That’s how I’ve gotten to where I am.”
For many successful entrepreneurs their ongoing challenge is actually to challenge themselves and Beyoncé is an incredible example of this. Never one to rest on her success she transitions from album to album, movie to movie, business to business, determined to make each one better than the last. She’s most certainly achieved the iconic status she promised herself she would.
Contact:Nokwazi Mzobe, Founder of Matoyana
