With celebrity status brings brand and self recognition, but more importantly loads of money in many cases. Even D-List celebrities with their 15 minutes of fame will try to capitalize on it.
So what do a few celebrities do when they have too much money and want even more? Simply launch or invest into a few businesses. Instead of bringing you high calibers celebrities like Jay-Z or 50 Cent, let’s take a look at a 10 celebrities you didn’t know were entrepreneurs…
Surprisingly, Jackie Chan has never completed proper education which hurt his ability to read or write. This did not stop him from successfully being casted in role after role in movies where he eventually found more success in the United States with the Rush Hour franchise to name a few. In parallel to his acting success, Jackie has launched and co-founded several businesses. Jackie has his own film and distribution company while owning three other production companies. Throughout China are his movie theaters Jackie Chan Theater International, dubbed some of the biggest cinema theaters. Other ventures include his own line of signature gyms, clothing line, several restaurants and talks of dipping into the supermarket and furniture industries. Each and every single one of his business donates a percentage of their profits to his Jackie Chan Charitable Foundation.
Best known for his role in That 70’s Show and MTV’s Punk’d, Ashton Kutcher is an avid entrepreneur with deep interests in social media and internet startups. In fact, Ashton Kutcher was the first person on Twitter to receive 1 million followers. Ashton founded Katalyst Media with his friend Jason Goldberg which was behind Punk’d and several other TV shows and movies. Ashton’s first venture into online entrepreneurship was Blah Girls, an animated web series. We suppose things didn’t go well as the website is no longer working. This did not stop Ashton from investing $1 million+ in several startups like Blekko,Optimizely, Flipboard, and Nowmov. Ashton sits on the board as an advisor for a handful of other companies as well.
When Phil Mickelson isn’t on the green battling Tiger Woods you can find him at a local Five Guys. The problem is Five Guys is only available in certain states like its home state of Virginia. East coasters are in an ongoing battle with West coasters over the best burger joint. East coasters live by Five Guys while West coasters swear by In-N-Out. There is no denying that Five Guys is slowly converting In-N-Out customers to the dark side, even Phil Mickelson. Five Guys has plans to expand in Southern California and all the Orange County rights were purchased by a group of investors, one being Phil Mickelson. Five Guys is definitely one franchise you’ll be hearing about for a long time.
As if dating Jessica Biel and being filthy rich wasn’t enough, Justin Timberlake has become more than just a singer through his entrepreneurial ventures and acting roles as you may have seen in the Social Network. In the movie, Justin played Sean Parker, founder of Napster. His interests in startups actually exists in real life and can be seen through his investments in Miso Media, an application development company and Stipple, an online photo labeling tool. Justin Timberlakes endeavors don’t stop there. He has launched his own record label, Tennman Records and co founded a clothing line sold exclusively through Bloomingdales. Together with his former assistant turned business partner, they launched Southern Hospitality BBQ restaurant in New York.
Best known for her numerous movie roles and for her relationship with Jesse James, Sandra Bullock is actually an entrepreneur at heart. Her major business is her film production company, Fortis Films which has produced over nine films, one being Miss Congeniality. Back in Texas, Sandra owns Bess Bistro, a restaurant in Austin. Down the street she also founded Walton’s Fancy and Staple, a bakery and florist shop that also does event planning. Let’s not forget shes an executive producer for the George Lopez show where she will earn over $10 million in syndication rights. Not bad for a girl that’s won an Oscar and Academy Award.
Currently ranked number 5 out of the worlds best tennis players, Venus Williams can be seen off the court focusing on several of her businesses. Like many other celebrities, she too has her own clothing lined called EleVen, an athletic but stylish sportswear for women. Clothing may be cliche but don’t let that fool you as Venus has a good eye for design and also runs V Starr Designers, an interior design firmed based in Florida. Her company has designed several TV show sets and is well known for their design work among residential and commercial businesses in Florida. Along with her sister Serena Williams, they both own a very small minority stake in the Miami Dolphins. The latest thing to add to her list of accomplishments is her NY Times best selling book Come to Win.
Hollywood’s kid at heart funny man founded Funny or Die when he wanted to watch only comedy videos online. Funny or Die is like Youtube except all the content is comedy based and users can vote on which videos are funny, if not then they obviously die. With Will Ferrell running the show, he has had no problem getting other celebrities like Lindsay Lohan and Jerry Seinfield on board to submit their videos. Funny or Die’s first video was The Landlord which went viral and has over 75 million views. Funny or Die’s network has since expanded to Shred or Die and Pwn or Die. They also founded Kung Fu Todd and Eat Drink Die but both were considered a failure.
When Ludacris is not in the studio or on the streets disturbing the peace, you can find him involved into several business ventures. As surprising as it may sound, Ludacris did study business at George State University. As an up and coming rapper, no one would give Ludacris the time of the day so he solved that by opening his own record label to which he has had great success and passed that success along to other artists on his label like Bobby Valentino. Ludacris has teamed up with restaurateur Chris Yeo and will open one of several restaurants across Atlanta. His latest ventures include Conjure cognac and a fragrance deal with TAG body spray.
You either hate Kanye West or love him but there is no denying that he knows how to create controversy and market himself. Kanye West takes on all fronts of the music industry from rapping to producing to even having his own record label. What you may not know is that Kanye originally wanted to be an artist and is actually very talented at that. His creative side can be seen through his clothing line and shoes that he has designed for Nike and Louis Vuitton. As a fan of the fast food restaurant Fat Burger, Kanye has bought all the Chicago rights and plans to open 10 across Chicago.
If there’s one artist that has revolutionized the music industry recently, it would have to be Lady Gaga. Dubbed the modern day equivalent of Madonna, Lady Gaga has put out hit after hit and was the first artist to reach 1 billion cumulative video views on Youtube. Lady Gaga knows how to create buzz through her outlandish outfits and acts so there’s no doubt she has some business savvyness in her. Lady Gaga is involved in everything from her own perfume, to her own brand of headphones, to an exclusive deal with MAC cosmestics, to her own comic book series, and even becoming part owner of Vince & Eddies, a restaurant in Manhattan.
How to Stay Motivated to Achieve Your Goals
Time is the raw material of our lives. How we choose to spend it, shapes our life accordingly. So having the motivation to spend it on achieving goals is crucial to creating a life we want.
What is Motivation?
The Oxford dictionary defines motivation as the desire or willingness to do something – our drive to take action.
Scientifically, motivation has its roots in the dopamine pathways of our brains. When we do something that feels good, that’s dopamine kicking in. Our actions are driven by the desire for that reward (the good feeling).
Author Steven Pressfield describes motivation more practically. He says we hit a point where the pain of not doing something becomes greater than the pain of doing it. He sees motivation as crossing the threshold where it’s easier to take action than it is to be idle. Like choosing to feel awkward while making sales calls over feeling disappointed about a diminishing bank account.
However you choose to think about it, we all want to harness motivation to achieve our goals.
How to Get Motivated
James Clear, the author of Atomic Habits, says that most people misunderstand motivation. They think that motivation is what gets us to take action. In reality, motivation is often the result of action, not the cause of it. Once we start a task, it’s easier to continue making progress. Like Isaac Newton’s first law: objects in motion stay in motion.
This means most of the resistance when working on your goals comes right before we start. Since motivation naturally occurs after we start, we need to focus on making starting easier.
4 Ways to Make Starting Easier
1. Schedule it
One reason people can’t get started on things is that they haven’t planned when to do it.
When things aren’t scheduled it’s easier for them to fall by the wayside. You’ll end up hoping motivation falls in your lap or hoping that you’ll muster enough willpower to get it done.
An article in the Guardian said, “If you waste resources trying to decide when or where to work, you’ll impede your capacity to do the work.”
2. Measure something
It’s easy to feel uninspired when you don’t know if you’re making progress or what you’re even working towards. That’s why you need to make your success measurable in some way. Starting is easy when you know exactly how much closer your current actions will bring you to achieving your goal.
3. Extrinsic motivation
This type of motivation is from external factors. It can be either positive or negative. Positive motivation consists of incentives like money, prizes, and grades. Negative motivation consists of deterrents like being fired, having a fight, or being fined. Extrinsic motivation doesn’t work effectively long-term, but it can work well in the short term to get you started on something.
4. Make it public
Keep yourself accountable by telling friends and family your goals, or even sharing them on social media. This makes it easier to start something because you’re pressured to not let others down.
How to Stay Motivated Long Term
When we say we want to feel motivated to do something, we don’t want to be pushed or guilted into doing a task. We want to be so attracted and drawn to the idea that we can’t resist not taking action. That’s why it’s important to build a foundation that will set you up for consistency.
These are 5 techniques that will help you do just that:
1. Stay in your goldilocks zone
The goldilocks zone is when a task is the perfect level of difficulty—not too hard and not too easy. In this zone, we reach peak motivation and focus.
For example, let’s say you’re playing a serious tennis match against a 4-year-old. On this level of difficulty, you’ll quickly become bored and not want to play. Now let’s say you’re playing a serious tennis match against Serena Williams. On this level of difficulty, you’ll quickly become demotivated because the match is too challenging.
The Goldilocks zone is in the middle of that spectrum. You want to face someone with equal skill as you. That way you have a chance to win, but you have to focus and try for it. Adjusting your workload and goals over time to stay within your Goldilocks zone keeps you engaged and motivated long-term.
2. Pursue intrinsically motivated goals
Being intrinsically motivated to achieve a goal is when you want to achieve it for what it is. There are no external factors like a reward or the risk of being fired. The drive behind your actions is coming from within.
For most intrinsic goals we pursue them because they will enrich our lives or bring us closer to fulfillment. That makes these goals extremely sustainable long-term because they directly affect our quality of life and the things we care about.
3. Use “chunking”
Chunking is the technique of breaking down a goal into smaller short-term targets. By doing this you achieve multiple successes in your pursuit of the main goal. This triggers the brain’s reward system and drives you to keep going.
Traditionally, you may set a goal that you expect to achieve in one year. That’s a long time to commit without seeing any results along the way. By chunking your goals into monthly or quarterly targets, you get the consistent positive reinforcement you need to stay motivated long-term.
For example, instead of trying to lose 50 pounds in one year, try to lose 4 pounds every month for 12 months.
4. Be flexible
We’re all victims of circumstance. Things happen along our journey that we can either adjust to or quit because of. That’s why it’s important to have leeway and flexibility when you’re pursuing a goal. If you expect everything to go perfectly, the inevitable failure can make you disengaged and desireless. When you plan for things to go wrong, you make sure you can keep up for the long haul.
5. Pursue your goals in a sustainable fashion
Don’t lose hope when you’re not an overnight success. Overnight successes are the 1%—for the most part, they don’t exist. What we see as an “overnight success” is actually countless hours of work behind the scenes finally hitting a tipping point. Pursuing goals is a story of patience, persistence, and unseen effort.
Don’t compare yourself to others. Comparison is a recipe for a drop in self-confidence and satisfaction. It also cultivates a mindset where you think you haven’t done enough. As a result, you may raise your expectations and put more pressure on yourself.
This is pointless because things worth achieving take time. So we obviously won’t compare to the things around us when starting.
Mastering motivation is a superpower. With that ability at your fingertips, you can accomplish your goals and shape a life you want to live in.
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