Besides the phenomenal success 50 Cent has had with his rapping career, he is also a very powerful and smart businessman. Most people don't know of many of his successful business ventures, but he has sold companies for millions of dollars to large corporations. 50 Cent uses his name or even better, his "brand," to establish connections. The sale of Vitamin Water to Coca-Cola landed him with a cool $400 Million in the bank with his 10% share in the company (before taxes).
How exactly does "50" do business?
Works Around An Established Brand- As a rapper, 50 Cent gets a lot of hype from his fans, undoubtedly his albums rake in big dough for him, but he has gone a step further and expanded "50 Cent" as more than just a rapping phenomenon. "Bulletproof," a video game of 50 Cents lifestyle, also added to his fame in the gaming industry. Aside from the entertainment industry, he is also involved in the production of the G-Unit clothing line and has an agreement with Reebok to produce G-Unit sneakers.
Uses His Resources- As a celebrity, it's easy to make connections, but it's not all about making connections in life, it's about getting to really know people. 50 Cent does business with many people and across all industries, he gets to know people and isn't afraid to utilize his resources to learn and get involved in different types of businesses. If he had not started doing business with different people away from his entertainment career, he would not be in the shoes he is in today. Last year, 50 Cent also listed his house for sale, but got the exposure across to millions of people, by doing an MTV Cribs episode of his house. Even if the whole intent of the show wasn't to market the house, I think it was probably something which was high on the list, which probably influenced him to go throw with the episode. This is a perfect example of how, if you want to sell something, getting the maximum exposure is key, using the right connections can really assist you with that.
Isn't Afraid To Take Risks- As I mentioned previously, 50 Cent's involvement in foreign industries is something which he wasn't skilled at to start off with. Despite the fact that he was new to doing business in markets other than entertainment, he wasn't afraid to learn a little and lose a little. Getting involved in the stock market has also caused him to lose, in some of his investments, but if he didn't take risks, he wouldn't be able to diversify.
Has A Well Established Group- G-Unit, a group made of 50 Cent and his closest friends who are also rappers, is a well established group in the music industry. The power of the group is probably more than the power of 50 Cent alone. Having the G-Unit group, enables growth of all members in it. In the business world, most people try to get ahead alone, sometimes it involves claiming every man for themselves. For example, in the case of a promotion, if there was only one position and there were 5 candidates for it, every man would work their hardest to get that seat. It's not always advantageous to travel alone though, groups have more minds and more minds equate to more knowledge. Knowledge=Power.
There are many more factors that make Curtis Jackson "50 Cent" the successful businessman he is. I chose to write about 50 Cent because he is not viewed as the "most successful" businessman in the rap industry, instead he seems to be #2. Most people view Jay-Z to be the #1 businessman in the rap industry. I wanted to reflect that even though 50 Cent is a hard worker and has been tremendously successful this far, he is still not #1. Don't expect yourself to be #1 quickly, but trying to get that #1 spot, will keep you going.
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