The rapper-turned-businessman explains what he wants to hear in an elevator pitch.
50 Cent has built himself up as a businessman. He invested in Vitamin Water a decade ago, and now his many business ventures include owning SMS Audio headphone company, investing $78 million in Frigo RevolutionWear underwear and becoming the spokesman for Effen Vodka.
The New York rapper spoke with Entrepreneur to explain what he looks for when making a business deal.
"I just like to hear how they understand directly how our specific consumer would relate to it," 50 Cent says, "why someone would want to utilize the product or why it would work in different ways. A lot of times, you've got people who have ideas that they haven't quite figured out who they're gonna sell it to. It's just a good idea. That doesn't work for me. For me, everything that I've involved myself with, there's a target audience involved."
The executive producer of Power also says that he doesn't like working with people new to the business world. He says there are no excuses to have a team without any experience.
"There's easily opportunities to bring people in that are experienced that wanna be a part of it that have already had some success in the category," he says.
Date Posted: Saturday, June 20th, 2015 , Total Page Views: 747
Like what you're reading? Please help us continue providing you with informative and thought provoking stories by becoming a supporter of Moorenews.net