Talent (Celebrity) startup

merits & demerits ?

One of the benefits of starting a business as a talent is the ability to monetize one's brand. Particularly, since a fan base has already been established, it is easy to imagine the advantageous position one holds when selling products or providing services. Additionally, the publicity gained through media exposure can also lead to increased customer acquisition in a short timeframe.

On the other hand, the disadvantages include a strong sense of the complexity and risks involved in the business. Starting a business demands significant time and effort, and particularly in cases where management skills are lacking, it is common not to achieve desired results. As a result, one may face an unexpected risk of debt, necessitating careful decision-making.

Talent (Celebrity) startup
merits

◎The Power of Personal Branding

Leveraging their celebrity status, entrepreneurs can remarkably smooth the start of their ventures. With a strong brand power already in place and a dedicated fan base, new businesses are often met with high expectations. Being frequently in the media increases the chances for products and services to catch the spotlight.

◎Source of Trends

Celebrities are trendsetters, and their influence is immeasurable. There is potential to create trends for the businesses they launch. When introducing new products or services, followers tend to spread the word, leading to what can be described as a "word-of-mouth storm" effect.

◎Ease of Fundraising

When raising capital, having a celebrity's business card can attract attention from investors, significantly increasing the chances of gathering substantial funds. The usual difficult elements faced by typical entrepreneurs can be alleviated by this celebrity background. The position as a public figure can, at times, serve as a factor that reduces investment risk.

◎Benefits of Media Exposure

Being at the center of media attention allows celebrities to excel at promoting their businesses. They can showcase their products across various platforms, such as television, magazines, and social media, enjoying media exposure opportunities that regular companies find hard to obtain. This undoubtedly leads to increased profits.

◎Realizing Free-thinking Ideas

Celebrities equipped with the free-thinking mindset and creativity developed in the entertainment industry are capable of translating innovative ideas into their business, creating unique products or services that transcend traditional boundaries. This uniqueness creates a story that captivates customers and contributes to generating new value that can benefit society. This ability to create new value is indeed appealing.

Talent (Celebrity) startup
demerits

×Excessive Expectations in Startups

For celebrities, starting a business may seem appealing at first glance, but in reality, there are numerous hidden challenges behind it. In particular, the excessive expectation that a startup will succeed immediately can be problematic. Many celebrities tend to underestimate the challenges of recovering risks and the realities of business due to their reliance on their fame. As a result, they often face outcomes that are far from the success they initially planned.

×Brand Risks

Having a personal brand can be a significant advantage for celebrities, but it also comes with risks. If customers rely on the celebrity's image, there is a fear that a business failure could damage the celebrity's personal image as well. Since celebrities are public figures, the impact of this can be substantial, and one cannot underestimate the repercussions if the business does not succeed.

× Lacking Management Skills

Even with exceptional talent as a celebrity, the skills needed for management are entirely different. Many celebrities face a high rate of failure in the business world due to their lack of knowledge in financial management and marketing strategies. Consequently, even if they provide excellent products or services, operational deficiencies can lead to disappointing results.

×External Expectations and Pressure

When a celebrity achieves success, the expectations surrounding them can become exceedingly high. In particular, attention from fans and media can create pressure regarding management. There may be a fear of being perceived as someone who fails no matter what they do, leading to excessive stress. This can result in unexpected behaviors that are not typical of them.

×Intense Competition

Depending on the industry in which they start their business, merely having fame may not guarantee success in an intense competitive environment. Especially in fields like food service or fashion, where competition is fierce, a celebrity's influence can sometimes become entirely meaningless. As they compete with other successful brands and companies, experiencing unexpected losses is often unavoidable.

When starting a business as a talent (celebrity), one of the major advantages is the ability to enjoy a free lifestyle. You can manage your own schedule freely, allowing you to align your days off and work style with your personal preferences. Furthermore, there is potential for high earnings, and by building direct connections with numerous fans, you can expand your avenues for self-expression. These characteristics offer a unique charm not found in other professions. Additionally, there are abundant opportunities to develop diverse skills, promoting personal growth through various experiences.
However, one of the potential downsides is the loss of privacy. Talent activities often expose individuals publicly, which means parts of your personal life may be known to others. The mental pressure can also be intense, as being in a spotlighted environment can lead to stress. Moreover, the stability of income can be lacking, with a high likelihood of fluctuations in annual earnings, which may result in financial uncertainty. In this way, starting a business as a talent is attractive, but it also comes with various risks.
Talent (Celebrity) merits and demerits? [startup] merideme