LAS VEGAS, NV – APRIL 22: Television personality Kylie Jenner raises candy in the air while she poses Inside Sugar Factory American Brasserie at the Fashion Show mall on April 22, 2017 in Las Vegas, Nevada. (Photo by Ethan Miller / Getty Images)
Forbes publishes a profile of Kylie Jenner in which she claims she could become "the youngest self-made billionaire of all time" and the Internet lashes back because she's a Kardashian and, at least in one person's words, "an incredible lead " would have. The story made me think: I wonder what Kylie Jenner's legacy will be?
Kylie is 21 years old this year and has already raised a fortune from Forbes estimated at $ 900 million, including her cosmetics company Kylie Cosmetics, which is valued at $ 800 million. But despite her success, Kylie is the subject of much ridicule. Kylie, the youngest member of the Kardashian clan, grew up largely in public. She was only 10 years old when she was kept up to date with the Kardashians, the reality TV show that had made the Kardashians world-famous. The Kardashians have always been a family criticized as "famous for their celebrity," a phrase that indicates that a person has achieved fame without possessing special skills or talent, or having accomplished anything personally. Will the cloud of "famous for its celebrity" forever hang over Kylie's head? Despite the amount she earns, Kylie's legacy will eventually be that she was just a kid's reality TV star who turned her fame into a fast-paced program by selling beauty products to the masses.
The answer, of course, is that everything depends on Kylie and the choices she makes in building her legacy. The problem is that most celebrities like Kylie do not have a legacy plan. They have neither a blueprint nor the architecture required to enable the celebrity to intentionally and purposefully build the desired legacy. Instead, it's all about making money – a lot of money. Why? Because the entertainment business is just that – a business. It's there to do business, complete transactions and make money. No blame or shame – Kylie's entertainment lawyers, agents, managers, managers, etc. all do a great job because they make a lot of money. However, people in the entertainment business are not in the legacy planning business. It's not how they think, it's not how they are trained, and it's certainly not how they get paid. Simply put, it's just not their job, so let's not blame them. Talk about "legacy" with any entertainment professional, and they'll start using the word "brand" almost immediately. The two are completely different, but this is how the entertainment world sees talents – as a product or a brand. Not that there is something wrong with that (quote from Seinfeld). Understand, there is absolutely nothing wrong with earning a lot of money – I do not judge anyone if someone makes a honest buck. However, money without guidance or application is worthless and, more importantly, potentially dangerous.
The main difference between a brand and a legacy is highlighted by Mintel's Sarah Jindal's quote in the Forbes profile of Kylie Jenner. Regarding Kylie Cosmetics (Kylie's cosmetics company) and KKW Beauty (sister Kim's cosmetics company), she says: "They do not want to be sustainable brands …. In a few years, I would not be surprised if they had something in mind Use names, you can turn it into anything you want to sell. "The author immediately follows the quote in her concluding paragraph with the question:" If you can make such quick money, who needs a big exit? ". This is true for brands, but not for legacies. By definition, unlike a brand, your legacy will be sustained at least throughout your life (if not longer). While your legacy can certainly evolve over time, there is no "for something else". They have only one life, one legacy. Unlike any brand that could be part of your legacy, there is absolutely no way out of your legacy. You just can not escape who you are. In other words, you can certainly be strategic to shape your life and become the person you ultimately want to be, which will be the legacy you leave behind. This is true legacy planning – the creation of a plan, the realization of a vision, the realization of a life intentionally lived with purpose and direction.
I am fascinated by Kylie Jenner's legacy because I see so much potential and opportunities. Before the age of 21, she has achieved worldwide fame and total financial freedom to do whatever she wants. For my part, I can not wait to see what she's up to with this freedom. Will she act as a serious business mogul overseeing a huge media and beauty empire? Will it become a symbol of women's empowerment and entrepreneurship? Will she be an actress and media personality? Will she retire to a quiet family life outside the public? Will she ever overcome the stigma of being famous, being famous?
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