Celebrities in business

When I think of celebrities who have started a second career the first person who comes to mind is Michael Jordan. After what many consider as the greatest career in basketball history, Michael Jordan has gained many followers. He has endorsed many companies and items, but the thing that stands out the most to me is his Jordan sneaker line. It is a wildly popular brand of shoe that I believe wouldn't have anywhere near the success if it wasn't for Michael endorsing them. I think an entrepreneur gains credibility when they are able to be endorsed by a celebrity. In my company, Profound Outdoors, we have gained credibility by having several professional anglers use our lures and win major fishing tournaments. I believe that people in the sport of fishing see what their favorite angler is using and they believe that since that angler is using a particular lure, that if they use it they'll automatically increase their chances. I believe that this happens in every other market as well.

Business Location Mistake

Earlier this week as I was driving through a lower income, rural area of Alabama when I noticed a business that did not quite belong. It was an independent electronics store. I understand that the real estate in this area is probably cheaper, but there are not many people in the area that can afford their products. If I was the owner of this business of this business I would find a new location in a city with a middle-class income so that the real estate would be affordable still, but there would be a better opportunity for profit. The new location would also be more intriguing to high-class people who could afford more of the retail. This business definitely made a mistake with their location.