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Michael Jackson: The Icon
Until his death at the age of 50, Michael Jackson has been all over the TV, the papers, and the
magazines. He always had an iconic presence in the music industry since he started his solo
career back in the 80's. In fact, a lot of music experts have declared him as Michael Jackson, the
King of Pop. His album "Thriller" sold more copies than any other record in its time. The concept of
his music videos, which encouraged the MTV culture, showed how extremely talented he was but
what most people do not know is that Michael Jackson was also an entrepreneur.
Michael Jackson: The Entrepreneur
What do you think Steve Jobs, Bill Gates, and Warren Buffet have in common? These men built
something out of nothing. They came up with products and services that no other people have
thought of. They dominate their respective industries for many years now as a result of their hard
work and immense talent.
Michael Jackson is very similar to these people. He used his skills in music and applied them in
various areas and fields that nobody else had exploited. The music videos he produced inspired
many musical artists, which eventually led to the popularity of MTV and the like. Michael Jackson's
album generated millions of dollars in sales. He used his money as further investment into his
brand and bought 50 percent of the most valuable music assets of all time, the Lennon-McCartney
(Beatles) catalogue. The royalties from this acquisition earned him millions in profits. He also
bought two Australian-based music publishers which eventually merged with Sony and earned him
close to $100 million.
Michael Jackson's Entrepreneurial Characteristics
If you have been looking at Michael Jackson biography, it is clear that he used his entrepreneurial
spirit in almost everything that he did. The following are some of the traits he shared with other
well-known business tycoons:
• Always looking for improvement - Michael rehearsed every day. He practiced not just his
vocal condition, but his dance moves that electrified audiences as well.
• Be an innovator - You will understand how he is as an innovator by simply thinking about
the "Moonwalk", the "Beat It" video, his sparkly white gloves, and his unique rock and funk music.
• Build customer loyalty - Millions of Michael Jackson fans were devoted to his music even if
he had sideshow antics during his latter days. The concerts he planned for London were awaited
by numerous fans all over the world as nearly $1 million ticket sales per concert were booked and
sold in advance. This is what you call brand loyalty. Unfortunately, Michael Jackson passed away
in Los Angeles when he was rehearsing for these 50 nights of concerts.
Learn From MJ
There is no perfect entrepreneur. Any Michael Jackson biography would also show his mistakes
along with his triumphs. As such, business owners can learn a lot from the King of Pop. Here are
some examples:
• Think first before you speak - The media is a perfect marketing tool, but saying wrong things
at the wrong time can lead to life-long damage to the brand you have painstakingly created over
the years.
• Stick to your values - Michael has gone through major transformations over the years, and
most of these damaged his image as the Michael Jackson icon. No matter the opportunities that
tempt you to change your values, these changes can be fatal to your company in the long run.
• Build a network of honest people - Michael mistakenly associated himself with people who
put their own interests above his. Business success brings in wealth, but it also attracts negative
elements that you and your business are better off without.
• Be financially wise - Save more and think twice before making unnecessary purchases.
Watch your cash flow, and pay close attention to all the items on your balance sheet. If you have
an advisor who handles your money, supervise the process and do not be just a check-signer.
Michael Jackson was a true entrepreneur - are you an entrepreneur? Make sure you do your
research before startring or buying any business. GlobalBX.com is a FREE business for sale
listing exchange that provides a confidential forum to facilitate the buying and selling of businesses
with over 36,000 businesses and franchises for sale as well as comprehensive business
information for all entrepreneurs.
Article Source:
http://EzineArticles.com/?expert=Brian_Ernst
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