BlueSky Thinking Summary

The article discusses the new trend of celebrity-owned businesses and their potential to make a really big difference, with different dynamics than traditional endorsements.

Among the celebrities who have done very well are Ryan Reynolds and George Clooney, taking an active co-owner role rather than just being an endorser to greatly increase brand value and market presence.

According to Paul Earle, an entrepreneurship professor, pairing with a celebrity is very detailed from pitching to long contracts that entail clearly stipulated engagements.

He advises that 'infinite' patience and rigorous preparation is required to dovetail the celebrity's schedules and expectations if their work is to correspond.

Huge importance needs to be placed on effective communication, highlighting celebrity strengths for continued campaigns of promotions that seek to ensure real engagement as the brand and celebrity's personal image enhanced.

Any entrepreneur who intends to enter into such alliances with stars needs a well-thought-out strategy or a really good understanding of the dynamics of celebrities in order to cash in on their power.