Entrepreneurship Wednesday Women's Conference

3 Business Tactics To Learn From Rihanna’s Successful Ventures

Business tactics determine how far your startup is going to survive in the long run. Without any solid business tactics you’re going to fail before you even hit a mile. And maybe you can learn that from many failed startups. However today we’re going to focus on the positive side. Instead of discussing the aspects that might lead to a business failing, rather we look at the tactics that make a business thrive. Thus we’re looking no further since we got our girl Rihanna. Whether you know her as the successful musician or as the proclaimed bad girl, today you should know her as the wisest entrepreneur.

Business tactics
(Image: Instagram)

About fifteen years ago when Rihanna first got introduced to the world with her hit single Pond de replay, most people were fascinated. Her piercing voice and passion to incorporate reggae in her music made her stand out from the rest. As you know back then there wasn’t a room enough for two or more black female musicians. As a result the media started to pit her against the likes of Beyonce. However Rihanna was wise enough to establish her own sound and style so she could be different from Beyonce. That genius move made Rihanna to thrive in her own right without competition. In the music industry, her move was dubbed one of the best business tactics.

Rihanna has always been consistent in being different. From her sense of style to her reputation, she was never shy to be innovative. And maybe that’s why she is one of the most successful woman in business. Having established Fenty beauty, Fenty line and Savage x Fenty, there are plenty of business tactics to be learned.

Business tactics Rihanna
(Image: Instagram)

So you’re probably assuming the reason why her net worth skyrocketed from $250 million to $600 million is simply because she’s  famous. Nope. You’re obviously and mistakenly wrong. But don’t worry because I’m here to correct you.

Did fame played a role in Rihanna’s successful career?

Well, for someone who was sitting at an estimated net worth $250 million I can honestly credit fame as a stepping stone to her success. Fame played a pivotal role in ensuring that her music became everyone’s favorite. And as the people’s favorite musician, you can understand why she sold out arenas throughout her singing career.

Truly speaking, she was introduced to us a musician and that’s how she’s popularly known for. Although fame might have opened many doors for her, I still credit her business tactics for her $600 million net worth. Do you want to know why? Well, I’ll tell you some of Rihanna’s business tactics that made her successful.

Passion

Every other successful person, from Elon Musk to Oprah, all of them will tell you about passion. But why are they talking about passion as if it is a necessity? Obviously, that’s because passion is indeed a necessity in disguise. And I bet you haven’t realized it yet. It’s okay, you will soon. Without passion you’re not going to continue to do what you do. Your work will be hard for you and eventually it will become a burden. What do you do when something becomes a burden? You find a way to lift it off you by forsaking it.

But if you’re passionate in doing something, you continue to do it all the way even when the odds are against you. Let’s take for instance you’re a comedian and every night you perform at the bar. However nobody laughs at your jokes because they believe you aren’t funny enough to be a comedian. So instead of quitting telling jokes, you’ll focus on developing to be best in telling jokes and that’s only if your passionate.

Looking at some of Rihanna’s old pics you’ll easily tell that she was into fashion but she wasn’t given any attention by the media. However, she didn’t stop at the wake of the media criticizing her for wardrobe malfunction. She knew exactly that what she wore best described her and she was happy about it. Eventually the media got used to her sense of style and she was dubbed a fashion icon by many media outlets.

In that way it is crystal clear that Rihanna has always been passionate about fashion. If she has tamed her fashion freakish personality then she wouldn’t have become a fashion icon. And maybe she wouldn’t have gone to found Fenty in partnership with LVMH because she would’ve believed she has a bad taste.

Because of her passion, Rihanna is the only black woman that has established a luxury brand under LVMH. And how’s that for being passionate? So through her you can easily learn that your startup venture should reflect your passion. Take that hobby and turn it into a business. At least you would not have to complain for a single day about things getting hard. Passionate people are unlikely to quit. They endure the disappointments and hardships simply because they love what they do. So turn your passion into a business you’ll thrive.

Inclusion

We’re living in one of the greatest times of social media. Other businesses thrive as technology keeps on advancing while other businesses dwindle. And that’s the reality that you should be aware of and question when it occurs. Customers now have the platform to be vocal about their views on certain businesses. Unlike back in the days, now customers’ reviews cannot be manipulated to save the company’s image. If your service as a company founder isn’t  appealing to one customer, then the whole world will know.

Inclusion is one of the wisest business tactics, trust me. If you look at Rihanna’s lingerie brand Savage x Fenty you’ll be able to understand what I’m talking about. Launched back in 2018 Savage x Fenty has grown to be the most desirable lingerie line for women. This is interesting considering the short period of time it has taken for the underwear line to be successful.

We all remember that back in the days it used to be Victoria Secret reigning in the underwear industry. The VS brand was considered the most sexiest underwear that a woman can own. However, the brand wasn’t accommodating all women of all shapes. Thicker women were excluded from the brand and no matter how much they raised their concerns, VS didn’t listen. The very same powerhouse that represented women’s sexiness was exclusive to plus size women.

Fortunately, Rihanna heard the cries of millions of women world wide. She founded her Savage x Fenty lingerie line to redefine sexiness. She realized that every woman deserves to feel sexy and that isn’t fair to be underrepresented. She won many hearts because her brand is inclusive. Sales at VS started to dwindle leading to the company cancelling its fashion show for the first time in history.

Solution

The last but certainly not the least out of Rihanna’s business tactics is solution. Before you make any investments in your startup you should first ask yourself one question. Does your business idea solves a problem or not. Believe it or not, in the social media era if a business isn’t solving a problem it will not thrive. People are always on the lookout for a product or service that is going to ease their lives.

People have growing problems and fixing those problems for them can make you wildly successful. Do not focus on trends but focus on innovation. The important lesson to know is that trendsetters are innovative. Once they trail blaze an idea to the society, eventually competition begins. So instead of focusing on competing with other brands rather invest your efforts in creating. This is a genius move, because trail blazers aren’t living under the pressure of keeping up with trends. They only concentrate on identifying people’s needs.

Fenty beauty launched up to 40 shades of foundations after realizing the gab in the beauty industry. Most women of color were excluded by beauty houses when it comes to covering all their shades. No beauty brand has ever launched with that variation of shades except for RiRi’s cosmetic company. Business experts dubbed Rihanna’s business tactics as the best in any sector. Why? That’s because RiRi is dedicated in polishing the the flaws that are neglected by powerhouses.

So being a solutionist will give you the edge over other entrepreneurs. Your success will come naturally without much efforts compared to the ones that are chasing trends. Be very sharp when it comes to thinking. Never be afraid to be the first one to do something.

Quote of the day

If women can pay special attention to what men do and learn from them, they’ll certainly have the best chance of being two times of what men are

If you can apply all these business tactics you’ll certainly have a chance to move in the same speed as Rihanna. You have to be wise in order to succeed in business. However sometimes successful people don’t really tell you their secrets. So take Rihanna as your mentor. Study everything she does and you’ll understand business tactics better.

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