50, exploded into the music industry in 2002 with a bullet proof vest and a whole lot of courage. Since then, he has become one of the top successful hip hop entrepreneurs of the 21st century with a net worth of about $250 million, and some dope ass records that are still spinning on radio stations nowadays.
So what makes 50 Cent such a successful entrepreneur? We take a look at some of his abilities and strengths to understand how he reached a massive level of success in the matter of years.
1. 50 Cent Embraces Change
When music piracy was on the rise, the music industry was sweating bullets and taking many music platforms such as Napster and Kazaa to court, doing whatever they could to prevent music from being given away for free.
50 Cent however, didn’t even flinch. He didn’t complain, nor did he negatively address anyone for pirating his music. He saw it as an opportunity to grow. He took to the Mixtape circuit and started unofficially remixing other people’s records, with a twist of his own to spice it up for the streets. People caught on to the remixes and unofficial leaks and fell in love with 50 and his clique G-Unit almost over night. This was the start for the big bang exposure that 50 needed right before his first album release.
2. 50 Cent Is Highly Resourceful
After 50 Cent broke into the music business, he used his earnings to begin investing and buying shares in growing companies. He started his own clothing line and teamed up with Reebok and created the G-Unit sneakers.
The line is now owned by Ecko and is still incredibly successful today. He branched out and started networking with millionaires and billionaires, finding out the best and most lucrative industries to invest his cash.
3. 50 Cent Loves Taking Risks
50 Cent is probably the most famous for his involvement in Glaceau’s Vitamin Water brand. In exchange for endorsing the product, he was awarded a minority stake in the company, and ended up earning over $100 million from Coca-Cola’s $4.1 billion purchase of the brand.
He didn’t have to invest money, but he had to invest his reputation and image, and that is an easy 100 milly if you ask me!
4. 50 Cent is Willing To Give Back
Most recently, 50 Cent switched things up and went the philanthropist route. Using the funds from his energy drink brand, SK Energy Shots, he is now using his products as a way to give back by partnering with Feeding America and SMS Audio. For every pair of SYNC by 50 and STREET by 50 headphones sold online at SMSAudio.com will provide 250 meals that will feed families in America.
5. 50 Cent Never Sets Limits On What He Can Achieve
Another reason why 50 is such a successful entrepreneur is because he doesn’t place limits on himself. He just recently became officially licensed to become a boxer promoter and signed a deal with Right Guard to develop a body spray, released an energy drink brand as well as a headphone brand. He has even developed a condom line called, Magic Stick Condoms and owns a film company where he acted alongside Bruce Willis, Val Kilmer, Jason Statham & Chase Crawford to name a few.
50 wanted to spread his inspirational story and advice to the masses so he teamed up with Best Selling Author “Robert Greene”. 50 Cent has also co-authored a book with Robert Greene called, “The 50th Law.”
In this case, no matter where you look, 50 Cent has a product for it.
6. 50 Cent Is Self-Reliant
50 Cent lost his mother at a very young age, he never knew his father either. This forced 50 to have to become more independent if he wanted to make it in this world.
Rather than wait and be at the mercy of the entertainment and business industry, 50 created his own opportunities and became his own boss. Instead of depending on others, he became dependent on himself.
7. 50 Cent Stays Engaged With His Fans & Followers
50 Cent continues to engage with his fan base on a regular basis. By keeping his consumers updated on his business ventures, he is ensuring his own success. He updates and communicates with his followers through his Facebook & Twitter accounts frequently and understands that his follower ship is bigger than just his music industry groupies. His potential for success is strong as long as he remains connected to the outside world of his fans, knowing and understanding their needs and wants so that he can position himself in the best businesses possible where there is lucrative investments and high demands.
8. 50 Cent Surrounds Himself With Successful Individuals
There is no doubt that 50 Cent has made a lot of success, but he also acknowledges that he couldn’t have done it by himself. He has built a very strong team around him consisting of successful and knowledgeable people. He delegates tasks to those around him so that he can still go and build himself as a performer, but also be able to seek out the next successful business venture.
9. 50 Cent Stands Proudly Behind His Products
50 will not endorse, promote, or stand behind a product unless he truly believes in it. This has been a major factor in his success as an entrepreneur. If you don’t believe in the product, then there is no bother in endorsing it. 50 Cent believes that if he can’t stand behind something, the public can tell, which will mean varying success.
10. 50 Cent Follows His Passions
And last but not least, 50 Cent pursues his dreams with an incredible amount of passion, making him an unstoppable force to be reckoned with. He believes in himself and has unwavering faith in his work. He is knowledgable and willing to learn more about the industry he is in and never gets too comfortable with what he has.
He only takes on projects that he can relate to and can fully believe in.
Finding his passions and pursuing his dreams allows him to reach the highest level of success.
Feature Image courtesy of: Finlay MacKay