A woman's personal finances are influenced by a variety of factors, ranging from the context in which she was born to the various opportunities that have arisen in her life. However, there are some basic elements that every woman should take into consideration when setting long-term financial goals. Join me in answering the question: What ingredients should you have as a woman to make your finances grow? To do so, I would like to highlight the work of three women in the world of show business who have been able to invest their talent with intelligence and an outlook on future.
Thinking like an entrepreneur
If we are talking about artists with entrepreneurial vision, we can't help but think of Rihanna. Having entrepreneurial vision means identifying market opportunities and capitalizing on them effectively. And that's what the Barbadian singer did when she created Fenty Beauty, a cosmetics brand that includes a wide variety of skin tones. Her Pro Filt'R foundation has been a success since its launch. Rihanna knew how to invest her efforts starting from a personal need —the lack of diverse skin tones in cosmetic products— and identifying that she was not the only one who had that need. Thus, the singer has been able to make a name for herself in the corporate world and achieve a fortune estimated at 1.4 million dollars. You don't have to quit your regular job to identify market needs and meet them through entrepreneurship. Use your free time, stay organized and be amazed at what you can accomplish.
Diversify your income
Taylor Swift has built her fortune through a combination of musical talent, personal brand management, fan connection, income diversification, creative control and adaptability. She has been able to overcome adversity with a cool head and planning, but, above all, with a great deal of resilience. With a net worth of 1.1 billion dollars, last year Taylor Swift was the first musician to be included in Forbes' list of new billionaires. According to the magazine, her fortune is made up of earnings from her royalties and tours, catalog and real estate investments, as well as her production company Taylor Swift Productions. The 34-year-old billionaire has always had a strong support system made up of close friends and, of course, her parents. As you can see, Taylor Swift wouldn't have gotten to where she is if she hadn't known how to team up with the right people. You can do it too: look for services that complement those in your area of expertise and consider partnerships to diversify your income.
Entrepreneurship and community involvement
Gloria Estefan has a long musical career that dates back to 1977, when she joined the Miami Sound Machine Orchestra. Throughout these nearly 50 years, the Cuban singer and entrepreneur has launched a variety of businesses, including restaurants, hotels and investments in soccer teams and media with her husband Emilio. Together, they own a fortune of between $500 and $700 million dollars. In addition, the successful singer has supported a variety of charitable causes. Her foundation, created in 1997, promotes education, health, and cultural development. Gloria Estefan knew how to focus on what she is passionate about, always with a desire towards helping her community. With much or little, you too can make your income grow if you focus on what you love and are passionate about. With love and passion, everything is easier to achieve.
You don't have to bet all your efforts on the same number. When it comes to planning and seeking financial success, the best thing to do is to diversify your finances and take advantage of the opportunities that life offers you. Forward thinking, resilience and determination will be key ingredients that, along with effective financial management, will help you achieve all your goals.
Just like Rihanna, Gloria Estefan and Taylor Swift, you too can achieve financial success with the right plan, and Elaine King can help you achieve your goals. Take your future by the reins and schedule a call to start fulfilling your dreams now. Elaine King has helped hundreds of people achieve financial wellness. Schedule your appointment here!