What Makes a Successful Entrepreneur?

Entrepreneurs achieve success through the establishment of their own personal brands, which distinguish them among others in any scene where competition is vast, and standing out is a must. These personal brands vary in their characteristics, and the ways in which one may establish his/her own can only be determined by oneself. Successful personal brands can be achieved through a various number of strategies, and we shall discuss only a minuscule number of strategies that have worked for others, and from which any individual aiming to become an entrepreneur may learn from.

As Robert Tuchman pointed out in his article “Knockout Personal Branding Strategies from Mayweather and Pacquiao”, The “Fight of the century” that took place not too long ago, is a perfect starting point in our discussion of how personal branding can be diverse. The two protagonists of the fight have complete opposite ways in their approach of how they establish their personal brand. For Mayweather, hard work, selectiveness, and notoriety have proven to be the best ways for him to become known as “The best boxer alive”. Mayweather has established his image to be that of the hardest working boxer in the market, one that doesn’t slack off in preparation for any fight. His selectiveness is controversial, as some look at his way of choosing his opponents as a way for him to choose weaker opponents, however, he has also been able to keep a perfect record, with no losses, throughout his career thanks to this. At last, Mayweather has also kept himself relevant even when long periods of time pass without having a fight. He has achieved this by appearing on TV, doing interviews, and owning social media, that way he keeps his personal brand relevant throughout his career even when he’s not doing what he’s famous for.

Pacquiao, on the other hand, has taken the route of authenticity, taking on the best, and going global. Pacquiao has established himself as a humble, likeable character, since he’s always seen smiling, and his fans love him even outside of his boxing career, since he has ventured into other activities such as singing. He has also been known for being the “underdog” in many of his fights, always challenging the best of the best, establishing himself as someone who can challenge even the best fighters out there, which also increases his audience as he’s able to become notorious on a bigger scale. And to wrap up Pacquiao’s success, it is also worthy to note his global reach. This has given his personal brand a higher chance to grow, as he has gathered fans all across the globe.

The evaluation of these two extremely successful personal brands is a good start in determining and establishing a strategy to follow. Do I want to control a small market or do I want to take on the bigger scene? Do I want to be unique or do I want to follow the expectations of the market? Do I want a high-risk high-reward approach or do I want a low-risk low-reward approach? These are the questions entrepreneurs should ask themselves when planning on how to establish their personal brand, as the characteristics of successful brands can vary from opposite poles of a spectrum, however, it all comes down to what YOU want to offer to the market.

Shanna Wu Pecoraro

For more information please visit www.nycimageconsultantacademy.com