In the attractive and glamorous world of entertainment, success speaks louder than talent. Throughout one’s career, one artist is in front of the screen to showcase their talent to the world, and one is behind the scenes to maintain the charisma of the other client. Yes, we are talking about great business managers like David Bolno here!
People like Bolno help the entertainer’s career in several ways, and we are going to list five major points here. Just cherish and explore them:
Financial Guidance: Exploring the Money Earning and Preserving Ways
In most cases, you will find that celebrities spend unplanned wealth after attaining success to maintain a hefty, lavish lifestyle without undergoing a planned financial strategy. Financial Fortitude is the sum of good financial planning without disturbing the posh lifestyle. It is beyond the sparkling career in the industry where business managers plan long-term finance efficiently. The manager here ensures his high profile is always in a good position to manage money. They take care of several aspects, like:
- Expenses management
- Tax planning
- Debt management
- Investment strategy
Together, these functions help the artist make financial decisions efficiently that help to protect their present wealth while ensuring they have enough for the future.
You can call these business managers the northern star who focuses on managing their clients’ lifestyles while securing their finances for the future.
Keeping an instinct for any new opportunities: Strategic Partnership
If you think business managers in the entertainment industry do nothing beyond being number crunchers, you need to think twice. They are strategic thinkers. They are the ones who establish relationships with movie studios, endorsements of brands, and record labels. Bolno, the name that supports his clients in all possible ways, depicts this strategic partnership in a healthy way, too. He has been at the top of the list of Hollywood Reporter’s Top Business Managers for four long years, from 2019 to 2022.
Bolno has built his image in a recognized way; hence, the list of his clients has been incomparable to the rest of the market. His collaboration with renowned figures like the heartthrob of so many females, Justin Beiber, lyrics king Will.i.am, Pharrell William, Post Malone, Drake, and more describes how great he is in his work. His strategic partnership with his clients has taken their success to a new level, proving his trusted role in this field.
Success is the most temporary thing in the entertainment industry, but what you need here is stability in your finances. You would have seen several celebrities meeting the worst fate as they failed to manage their finances in the right way. A good business manager does this for his clients. He ensures that their hard-earned money is invested wisely. He keeps a separate pocket for buying a home, planning the future, and setting up pension plans when the celebrity grows old and needs more funds than today. David Bolno ensures that his clients always have a secured financial plan.
Risk Management
You need to pause if you think showbiz is only about those flashlights, fame, parties, and more. It comes with risks, too. Business managers play the role of protection shields, helping their clients to handle their contracts, endorsement deals, negotiations, and more. He also helps them by working on their interests. He ensures that his clients are always ready for any expected and unexpected pitfalls.
Crisis Management
Uncertainty takes a minute to hit in the showbiz world. A positive career meets a sad fate due to sudden lawsuits, disasters, scandals, and more. Managers act like protective umbrellas for their clients, standing with open wings to protect them from disasters.
Building brands, on-screen and off-screen
Business managers’ assistance to their clients is not rigid to just screens or stages and functions beyond that. They work non-stop to increase the flow of income while working on the multifaceted image of their clients. Commonly, you would have seen a musician endorsing a deodorant, an actor advocating toothpaste, and a player being an ambassador of some car brands. These are those ventures that build any client’s financial portfolio by building a strong presence in the entertainment industry.
Wrap up
Business managers may be one of the back crew members, but they are the important ones who ensure their clients reach the heights of success no one dreams of. Some stars don’t shine on their own and need the light from outer bodies, just like celebrities who need business managers to shine brightly.
