Jennifer Lopez on what she learned from Warren Buffett — and other tips from celebrities on how to become a successful entrepreneur

• The Hollywood Reporter released its second annual list of the top 40 celebrity entrepreneurs.
• THR surveyed some of the biggest stars about their thoughts on running a business.

It's become common for celebrities to start their own brands and businesses apart from their singing or acting careers, and many have gone far beyond just putting their name and face on a product — like Jennifer Lopez's skincare brand JLo Beauty or Seth Rogen's' Houseplant.

The Hollywood Reporter released its second annual list of top celebrity entrepreneurs last week, in which it asked top celebrity entrepreneurs about their best business advice, inspirations, and products they wished they'd come up with themselves. Several A-list stars weighed in, and Insider compiled some of the most interesting answers.

1. Ryan Reynolds

Some of Reynolds' successful ventures include Mint Mobile and Aviation Gin, which he sold to the leading alcohol company Diageo in 2020 for $610 million.

The "Deadpool" star said the biggest lesson he'd learned as an entrepreneur was to never miss a learning opportunity: "Resist the urge to win in favor of learning. Seeking to learn from someone you disagree with is often more valuable than 'winning.'"

Fellow celebrity surveyors including Gal Gadot and the "Breaking Bad" star Aaron Paul named Reynolds as one of the entrepreneurs who inspired them.

2. Jennifer Lopez

Lopez's skincare brand JLo Beauty and footwear and handbags line JLO Jennifer Lopez Collection at DSW have cemented the movie star and two-time Grammy nominee as a successful entrepreneur in the beauty and fashion spaces.

Lopez said the best business advice she'd ever received came from Warren Buffett: "A brand is a promise." She said her overall mission with her businesses, which also include the film and TV production company Nuyorican Productions and her expansion into body care with her Targeted Booty Balm this year, was to see an impact "in the next generation of entrepreneurs that we inspire and help open doors for."

Lopez also mentioned that she wanted to increase inclusion in business, not just in entertainment, saying that creating "more seats at the tables of opportunity in a different sector than entertainment" was one way she was exploring a new side of herself as an entrepreneur.

3. Seth Rogen

Rogen's marijuana brand Houseplant had so much website traffic when it launched in March 2021 that the site crashed from the demand.

After founding the business with Evan Goldberg, Rogen said he'd learned how to scale without compromising on product quality. "There is a direct correlation between scale and quality — learning how to maintain the level of quality that is imperative to us while still growing our company has been wildly beneficial," he said.

When asked what product he wished he'd come up with himself, Rogen said, "You seen these fucking iPhones?" but also added that the best business advice he'd ever received was to "be focused."

Correction: November 29, 2022 — An earlier version of this story misstated Jennifer Lopez's award history. She's a two-time Grammy nominee, not a two-time Grammy winner. The story also misspelled Warren Buffett's name and misidentified the gin brand associated with Ryan Reynolds. It is Aviation Gin, not Avian Gin.

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