Business Manager to the stars, Lou Taylor, knows what it takes to scale a business. She is the CEO and Founder of Tri Star Sports & Entertainment Group, a business management firm that represents some of the biggest names in Hollywood and Sports.
Her A-list roster of clients includes:
- Jennifer Lopez
- Gwen Stefani
- Britney Spears
- Steven Tyler
- Rams General Manager Les Snead
How Lou Taylor Built a Successful Firm
Before launching Tri Star, Lou didn’t even know what a business manager was. That was 27 years ago. Today, her company is one of the top business management firms in Nashville and Los Angeles, providing accounting and estate planning, among other services for top celebs, artists, athletes, and executives.
While this CEO and founder was building her powerhouse company, she always focused on succeeding.
Failure was never an option.
“I can honestly say I have never thought about failing,” she says. “If you provide value, you will be successful.”Lou Taylor, Tri Star Sports & Entertainment Group
In 2019, Lou got top honors for “Ferociously” Breaking the Glass Ceiling, and was recognized as The Hollywood Reporter’s Business Manager Icon.
In this Q+A, Business Manager Lou Taylor breaks down her biggest takeaways for how to scale your business, how she meets her client’s needs before they even know they have one, and why you should start making goals-based financial plans today.
Tri Star Sports & Entertainment Group, manages some of the biggest names in the sports and entertainment industry including Jennifer Lopez, Britney Spears, and Sean “Puffy” Combs, what are your biggest takeaways for growing a successful business?
Lou Taylor: This is an easy answer. Complete dedication to your clients and business. Never say no. Just get the answer and do the work and do it to your best ability. Clients need to feel the impact of you being in their lives. They need value. If you provide value, you will be successful.
In 1990, you went from not knowing what a business manager was to opening up Tri Star in the short space of two years – What do you attribute to your success?
LT: I never stop listening to what trusted advisors and clients are saying. I listen to what they need, what they enjoy, how they want to be served, and what they feel has been missing. I take all that information and make sure we are doing what the clients need and making sure we are not doing things that they don’t need.
What have you learned about yourself after arranging high profile tours and managing top tier artists? What helps you stay balanced?
LT: I always think of myself and my staff as being in the service business. We serve; that is what we do. I stay balanced by taking care of myself physically, mentally, spiritually. Being in the service business requires you to present your best self, and if you are not your best self, you cannot help others.
What tips or ideas do you have for establishing financial health? What should you be doing to secure your financial health when you are 20? 30? 50? Etc.
LT: I think making goals-based financial plans yield the greatest results. Make a goal, achieve it, and then set a new one. They are different for everyone, so you have to make a plan that is applicable to you.
What does the freedom to succeed without limitations mean to you? What’s your advice for reaching this mindset?
LT: I can honestly say I have never thought about failing. Jim Collins talks about the Stockdale Paradox, meaning as a leader, you have the mindset that no matter what, you will reach success. It takes an incredible amount of optimism to keep moving forward, no matter the circumstance.
Is there a question that people never ask you, but you wish they did?
LT: Believe it or not, I like it when people ask me what can I do to help you. This is something I wish we all asked more. It would make the world a better place.
Connect with Lou at loutaylor.net.
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