Chip, Joanna Gaines, and Shonda Rhimes have found incredible success using this entrepreneurial strategy. Here’s how you can do that, too.
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After working for decades in the areas of business strategy, technology, retail and marketing, I firmly believe that personal branding is the future.
They will lead the future. They will create the future. They will lead in the future.
People like Elon Musk, Oprah Winfrey, Richard Branson, and Arianna Huffington have proven that visionary leaders with unique and recognizable personal brands have the power to shape our world.
These defectors are pushing far beyond leveraging their personal brands for book deals, speaking opportunities, and reality TV ads. They are really radical pioneers. They create extraordinary change, transformational legacies and wealth that will last beyond this lifetime.
And they do this by building distinctive empires.
An iconic empire is a group of interconnected businesses that create diversified wealth streams for a visionary founder. These dreamers do not devote all their energies to one company or model. Those who build iconic empires create divisional structures that leverage their ideas across multiple platforms.
Think Chip and Joanna Gaines, who have their own TV network, several bestsellers, a hugely successful line of solid goods through a partnership with Target, several real estate investment firms and a shopping/eating/tourism destination with Magnolia Market in Silos in Waco, Texas. From the beginning, they spread their talents across multiple avenues and this resulted in a huge fortune for them. Famous empire isn’t something that just happens to entrepreneurs with premium personal brands; It is a strategy.
It is a strategy you can use. Here are three ways you can start building your unique empire today.
Own your business
Before you even consider creating multiple wealth streams, you need to prove that you are the best in the world at what you do. A perfect step into the role. own it. And prepare to broadcast it. You have no competition and you are in one category. Or if you are in the category of multiples, make sure you are sitting at the absolute top of that niche.
Capitalize on your status as the best player in the world in a statement about the paradigm you are changing. Talk about the revolution you’re driving, and the concepts you’re driving. Say something so bold that people are sitting back and paying attention. Don’t be controversial for the sake of being controversial, of course, but use amazing, candid language. Tell people how to push boundaries and own them. This will feel uncomfortable at first, but once you step into it this fear will subside.
Work hard, and separate yourself from anyone foolish enough to rival your opponent.
Related topics: The Five Basic Rules of Personal Branding
Make a diversification plan
Once you are the undisputed owner of your niche or industry, think about how you can start creating multiple wealth streams. In addition to your core business, what can you do to share your ideas and talents with others? What are the logical forms and business models? What suits the revolution you are leading? Don’t force yourself to enter the markets, adopt strategies that conflict with your mission, or force you outside your genius. Follow ideas that naturally fit into your vision.
Consider icon like producer and viewer Shonda Rhimes. It makes perfect sense to write books (she’s a talented writer), negotiate brand partnerships (she’s a spokeswoman for Dove’s body-positive campaigns) and create media and content departments (she blogs and podcasts like a pro). It doesn’t make sense for her to pursue selling certifications and licenses (she’s not championing proprietary style), hosting retreats (she’s a definite introvert!) or building the retail arm of her empire.
Follow the flows of wealth that will succeed because they are organically aligned with your gifts and support your main business group.
Related Topics: Marketing Yourself: Developing Your Personal Brand
Building a magical world
Next, you must build a place where your biggest fans can interact with you. Build a place of true beauty and amazing experiences. Your magical place is where your clients and potential clients gather. Since you will also be leading rather than teaching, I tend to use religious terms here. Effectively, when you build your magical place, you create a temple for your people to come and worship you. It should be a space that truly represents you through images, words, movement and sound; Everything the visitor experiences is there. You need to create a place where people who are interested in you can go, and people who follow you can connect with you.
Your magical place is also where strategies like sales funnels come into play. Where do you send people once you become visible? When you start talking to your market, where will people go to learn more? And once they’re there, what are you going to show them, and what do you give them and tell them?
Consider the experience. When visitors enter your magical place, they should feel a drastic transformation. It should be like letting go of the noise and dirt of the airport in general and getting into the first class lounge. Sophisticated, elevated, refined and indescribably beautiful. Creating this magical world now – even if it’s just a Facebook group in the beginning – will give you something to build on as your business grows.
Chip and Joanna Gaines, as well as Shonda Rhimes, have done it flawlessly. Magnolia Market at the Silos is an actual, physical magical world dedicated to all things Chip and Jo. Visitors can dine at their restaurants, shop for goods designed by Joanna, stay in a vacation rental home renovated by Gaines and attend events in the beautifully manicured grounds.
Rhimes has an online center at Shondaland.com where you can find links to all her current and upcoming projects, buy her books, watch her advice videos, revisit her most famous speeches and listen to her audio files. It’s a bold and colorful location that exudes the same energy that Rhimes itself is known for.
Of course, aspects of wealth creation for an iconic empire occur privately, but the magical world is public. It’s a place where people interested in the revolution you’re leading can get to know you, connect with you, and gain a deeper understanding of your ideas and accomplishments.
All icons are dedicated to creating extraordinary wealth from their work and a profound impact from their work. The smartest among them transforms this devotion into a multi-layered, diverse, and interconnected empire of endeavours that greatly increases its abundance. If you’re eager to create generational wealth and influence with your innovations, start creating your signature empire plan today.
After laying out your plan, take bold strategic steps that will make your famous empire come alive!
Related Topics: Self-made billionaires around the world: where and why they thrive (infographic)