These three stars have added "entrepreneur" to their already successful entertainer titles.
Venture: A restaurant
Lady Gaga (25) (real name Stefani Germanotta) wears many hats – and fashionable ones at that. Not only is she is a Grammy Award-winning singer, songwriter and fashion designer, she is also a restauranteur. The Born this Way singer is a silent partner in Joanne (named after Gaga's aunt who died from lupus disease), located in Manhattan's Upper West Side. The "low-key" Italian hangout is co-owned by Gaga's parents Joseph and Cynthia Germanotta. Launched in November 2011, the restaurant replaced the former Vince & Eddies which closed abruptly after 23 years in business in March that same year. It seems it couldn't stay afloat even after Gaga and her parents invested in it in 2010. Their new venture features some of Gaga's own recipes on the menu, but fortunately, this does not include Gaga's fresh meat dress.
Business lesson: Don't wallow in your business mistakes – like Gaga and her parents, you need to turn them into learning experiences and try again.
Venture: An eStore
Actress Jessica Alba (30) is loving motherhood so much, she decided to open an online baby store. Honest.com is named after her four-year-old daughter Honor and sells eco-friendly natural baby and household products. She founded the store along with Christopher Gavigan, former CEO of non-profit group Healthy Child Healthy World, after struggling to find eco-friendly natural baby products. She also discovered that toxic chemicals were often disguised as "fragrances" on product labels. "There are a lot of toxic chemicals in baby products, and these toxic chemicals are linked to not just allergies and asthma, but also autism and ADHD and lots of childhood cancers, and I was horrified that products that were made for babies and children would have these toxic chemicals," Alba told Reuters. "I really wanted to make a company that was for parents, by parents," she added.
Business lesson: Find a need or gap in the market and fill it
Venture: A shoe line
Actress Halle Berry (45) has put her best entrepreneurial foot forward with the launch of her own shoe range. The 5th Avenue by Halle Berry collection was designed for German retailer Deichmann Shoes. Deichmann is Europe's biggest shoe retailer. Berry follows in the footsteps of Cindy Crawford who, a few months earlier, launched her range of Deichmann heels. According to the UK's Daily Mail, the Dark Tide actress’s Spring/Summer range of 40 limited-edition shoes includes peep-toes with wedge heels, high-heeled sandals with straps and high-heeled sling sandals on wedge heels. "I'm a girl that loves to change my shoes all the time. It's an expression of who you are really. I'm a girl who, if I find a shoe that I really like, I get them in all colours. I'm big on that," she was quoted as saying. The shoes step into European stores in March 2012.
Business lesson: If you don't have the necessary experience, then launch your product with a trustworthy and established company that does.