More money, more issues. Right?
Is anyone genuinely believing this, depending on your point of view?
What is obvious is that some wealthy individuals, such as entertainers or celebrities, can benefit from — and frequently prefer — the guidance of an experienced expert in order to achieve their financial objectives.
Kristin Lee has made a profession out of it as the founder and managing director of a successful entertainment business management firm. Kristin Lee Business Management is a firm that offers “a comprehensive spectrum of business management services to singers, athletes, writers, actors, producers, labels, and other high net worth individuals and enterprises all over the world.”
The firm is rapidly expanding, with locations in Seattle, Nashville, and Los Angeles serving clients all around the world.
Artistic enterprises, as Lee says in her Achiever’s Exclusive conversation with Josh Ellis, are much like any other business. For fledgling businesses like herself, the money-making possibility includes managing things like celebrities’ financial statements, taxes, payrolls, and everything else that keeps their business running.
“I prioritize my clients because they are the lifeblood of my business,” Lee explains.
It hasn’t always been simple for her to break out on her own and develop a company from the ground up in a fiercely competitive market dominated by men. Lee, on the other hand, claims she has no regrets.
“Building my business was a difficult decision, but I’m glad I made it,” she says. “It turned out to be a fantastic opportunity for me.”
Here are some of the important insights from Kristin Lee’s SUCCESS interview.
It’s All About Trust When It Comes to Gaining Clients.
Are you considering launching your own company management firm? When it comes to acquiring the greatest clientele, as Lee points out, reputation is crucial.
This is because, in addition to desiring to develop their assets, high-net-worth individuals also want to protect them from those who would steal them. Accountants and managers have taken advantage of celebrities ranging from Elvis Presley to Rihanna. As Lee argues, the best approach to gain a client’s trust is to be deserving of it.
“Like any relationship, there has to be a level of trust,” she says. “I believe that everything we do is based on our reputation for doing the right thing and doing it well.”
Successful Leaders Have the Ability to Delegate.
Lee did a little bit of everything when she first started her business. Even though her team has developed around her, she still does to some extent.
“I’m picky, so I expect things to be done my way,” Lee explains.
However, doing it all by yourself isn’t ideal—or even feasible. Instead, Lee contends, there’s something to be said for being able to delegate the correct jobs and cleaning up the rest later.
“I try to do everything I can for myself and [my clients], but there are times when you just have to delegate because you can’t do everything,” Lee adds.
It’s Critical to Take Some Time to Unwind and Catch Your Breath.
Lee claims that having a morning routine that includes setting out time to be alone with her thoughts helps her maintain balance amid a hectic workweek. The same goes for weekends, which she constantly tries to avoid in order to relax.
“I think it’s good to sit still and unplug every now and again,” Lee explains. “You can’t be entirely fried if you’re continually hooked into technology.”
…And if I’m not at my best, if I’m weary and fried, I’m not going to provide my clients my best job. And I believe [the clients] are aware of this.”
Knowing when to hunker down and get things done is also a part of striking that balance. KLBM, for example, prohibits vacations in March and early April, when the company is “all hands on deck” due to tax season.
Demonstrate Your Ideals Through Your Hiring Methods.
KLBM is almost completely made up of women, which the creator maintains is on purpose.
“Entertainment has always been quite male. “It’s very male,” Lee adds of business management. “It’s time for that landscape to alter. “It’s time for you to change your mind.”
It’s a rationale that, according to Lee, shapes the company’s culture.
“So that means establishing a landscape that resembles how I want things to be, and providing educated, hardworking women with excellent career opportunities and meaningful work.”
When Lee vets new clients, she follows the same principles of authenticity and representation—but the one thing she looks for above all else is a mission.
“When I speak with my clients, I’m interested in learning about their professional plans. Lee says, “I appreciate big dreamers.” “I’m like, ‘That’s wonderful, let’s go.’ If someone has all these crazy ideas and wants to establish an empire, I’m like, ‘That’s terrific, let’s go.’ That’s what I’m all about.”