Here’s a great example of the power of a celebrity CEO. When I ask people if they know the name of the CEO of Tesla, the vast majority of people correctly answer Elon Musk. I then ask people if they know the name of the CEO of Ford or the CEO of Toyota. I have never had anyone successfully give me the name of either.
Elon Musk is a celebrity CEO. For example, he has 52 million followers on Twitter. Compare that to only 33,000 Twitter followers for the CEO of Ford. And, I couldn’t even find an official Twitter account for the CEO of Toyota when I searched.
So, what’s the value of being a celebrity CEO and having all that reach and influence?
Ford has more than 3,000 dealerships. Toyota has more than 1,500 dealerships just in North America, not including the rest of the world. On the other hand, Tesla doesn’t have any traditional dealerships. Tesla customers purchase their vehicles online
Company Ford was founded 118 years ago. Toyota was founded 84 years ago. Tesla was founded only 18 years ago, yet according to a December 2002 article in TheDrive, Tesla reached a market valuation more than the next 6 largest car companies combined. Tesla’s valuation today is approximately $650 billion. The power of a celebrity CEO has played a huge role in the success of Tesla, and in this episode, we’re going to learn how to become a celebrity CEO.
What is a Celebrity CEO?
You don’t need to be famous to everyone to be a celebrity. You simply need to be well-known inside your circle. An entrepreneur can become a celebrity in two ways: being well-known in their niche or in their geography.
In order to be a successful Celebrity CEO, we must become a brand, use self-promotion, build a community, and then use the marketing funnel.
Become a Brand
Entrepreneurs need to become a brand.
Who are you?
Contrary to what we might think, our audience isn’t just buying our products or service, they are buying us. In order to create digital monetization, we need to create a personal brand.
Building a brand starts with a purpose. What problem are we solving? What question are we answering? Once we know our purpose, we can create a brand. We need a certain style, a logo, font type, color, a business name, a trademark, and more. But beyond this, we need to focus on becoming our personal brand.
One way to do this is through our physical appearance. This isn’t about being a model. It’s about representing ourselves, our beliefs and values, by the way, we dress and act. We can ask ourselves, “What makes me different? What makes me stand out?”
I think we are a lot more critical of ourselves than we are of other people. If we stop and look at our role models, we will realize that none of them are perfect. We expect perfection from ourselves, but not from others. We shouldn’t put that standard on ourselves. We don’t need to be perfect. In fact, if we try to impersonate this perfect version of ourselves, we won’t resonate with our audience. We won’t seem credible or authentic.
There is something about us that attracts us to others—what is it? Is it because we are thoughtful, energetic, introspective, bold? We need to use what God has given us to draw people towards us.
Entrepreneurs need to focus on self-promotion.
Becoming a Celebrity CEO requires a celebrity mindset. To be successful we need to be willing to put ourselves out there. We have to recognize the need for self-promotion.
While we are promoting our business, we can’t forget to promote ourselves. That doesn’t mean being arrogant, stuck up, or self-absorbed. It means recognizing our value and sharing it with others.
“For those who want to be the celebrity CEO, yes, it’s about your business. Yes, it’s acknowledging your team . . . But on the business side, how do I make a living with the big brands I work with? I promote myself.”
We are thankful to the CEO of HS Digital for sharing his stories and knowledge with us today. Here are some of my key takeaways from this article:
1. We don’t need to be famous. We simply need to be well-known inside our circle.
2. People are buying us, not just our services or products.
3. We need to become our own personal brand.
4. We need to build a following and community before trying to convert customers.
5. We should be focused on “asking for a smile before asking for a sale.”
5. We need to narrow the trust gap by providing our customers with valuable content.
6. We need to focus on using lead magnets.