What entrepreneurs should take note of is that Madonna is a savvy business woman, with one professor at Cranfield School Management going so far as calling her “America’s smartest businesswoman.” As controversial as she may be, Madonna’s success in the music business is clear, Monica Zent write for Entrepreneur. In 2014, she topped a list of the world’s wealthiest recording artists, besting a list of musicians including Paul McCartney, Jay Z and Celine Dion.
While her music industry success is apparent, what is less obvious, are the valuable lessons entrepreneurs can learn from Madonna. Whether you love her or hate her, here are seven key lessons every entrepreneur can learn from Madonna:
1. Age is a state of mind.
Not only does Madonna exemplify the idea that age is a state of mind, she also is not shy about calling out ageism when she encounters it. When it comes to her age, Madonna says she has experienced people “… judging me by my age… Because women, generally, when they reach a certain age, have accepted that they’re not allowed to behave a certain way.”
2. Ignore the haters.
Entrepreneurs inevitably will encounter naysayers on their road to success. Madonna exemplifies someone who focuses on the positive — her fans — pushing forward and ignoring naysayers. Speaking about the need to persevere in the face of negativity, Madonna offered this motivating quote in a 2013 magazine article, “One of the many things I learned from all of this: If you aren’t willing to fight for what you believe in, then don’t even enter the ring.”
3. Take care of yourself.
As an entrepreneur, your personal health and well-being is of the utmost importance, yet many entrepreneurs end up putting their own health on the back burner. This is a big mistake. You need physical endurance to make the hard journey, which is full of stress and is physically, emotionally and mentally taxing. Throughout her career — and well into her 50s — Madonna is a great example of someone who keeps herself in prime physical condition.
4. Turn lemons into lemonade.
When her new album was hacked before it was due to be released, Madonna turned it into a positive, strategically releasing several songs before releasing the finished product.
As an entrepreneur, you will encounter inevitable setbacks. The key will be your ability to turn such crises into opportunities.
5. The show must go on.
Perhaps the biggest lesson entrepreneurs can learn from Madonna? When Madonna recently tumbled down a staircase during her live performance, she got right back up and resumed performing – without missing a beat. If you fall, pick yourself up and keep going, because no matter what, the show must go on!
