BETA
This is a BETA experience. You may opt-out by clicking here

More From Forbes

Edit Story

Trisha Yearwood On Entrepreneurial Success: ‘I Always Was Open To Opportunity’

Following
This article is more than 2 years old.

Trisha Yearwood is one of country music’s esteemed vocalists with countless GRAMMY, CMA and ACM Awards to her name, and now the country singer’s entrepreneurial spirit is being celebrated.

The Nashville Entrepreneur Center inducted Yearwood into its 2021 Entrepreneurs’ Hall of Fame class on Monday. The Emmy Award-winning host of Food Network series Trisha’s Southern Kitchen, Yearwood was recognized for her success as a three-time New York Times best-selling author, business owner, Nashville-based entrepreneur and philanthropist.

“The success in music is what opened the door for other things,” Yearwood, who moved to Nashville in 1985, said as she accepted her award onstage at Music City’s Schermerhorn Symphony Center. “I feel really lucky that I had a chance to associate myself in businesses that feel right to me.”

MORE FROM FORBESLauren Alaina Finds Herself On 'Sitting Pretty On Top Of The World'

Yearwood was inducted alongside former Tennessee governor Phil Bredesen; Burch Investment Group Chairman and CEO Lucius E. Burch, III; and Leatrice McKissack, former CEO of McKissack & McKissack, the nation’s oldest Black-owned design and construction firm. Country Music Association CEO Sarah Trahern inducted Yearwood and praised the singer as “a tireless entrepreneur with a strong sense of both her audience and her brand” who also maintains “a business acumen grounded in integrity.”

Added Jane Allen, CEO of the Nashville Entrepreneur Center: “It’s clear that Trisha is involved, from vision to production, and is a multi-faceted entrepreneur. Her dedication to supporting the community of Nashville and serving as a role model for emerging entrepreneurs is truly remarkable.”

The Trisha Yearwood brand is one of integrity and authenticity. Whether it’s her new Trisha Yearwood Pet Collection, four cookbooks, signature product line and dinnerware collection with Williams Sonoma or furniture collection with Klaussner, Yearwood’s personality shines through. Each endeavor has a personal touch, too. Pieces within her furniture line are named after songs, family members and streets in her hometown of Monticello, GA. One of the desks in the collection is even named after her favorite English teacher.

MORE FROM FORBESSmithField Shares Business Triumphs And Pitfalls After 10 Years As Country Duo

“I always was open to opportunity and when it came, I tried to figure out if it was the right thing for me,” Yearwood tells me over the phone a week before her induction. “I knew I wanted to do music and I did just music for a long time, but along the way I had other opportunities because of music.”

Yearwood, whose 1991 hit “She’s In Love With the Boy” is the most listened to country song by a female artist in MRC Data’s history, says it was important to accept opportunities she knew she’d enjoy even if they were out of her comfort zone. The singer credits former manager Ken Kragen for teaching her about career investments outside of music, such as a Revlon endorsement and Discover Card tour sponsorship in the early 1990s.

“Somewhere in the mid ’90s I learned that it's not just that I like to sing and make music, but that Trisha Yearwood is a brand,” she says.

MORE FROM FORBESCarly Pearce Turns Pain Into Purpose On '29: Written In Stone'

Yearwood credits her success as an entrepreneur to knowing exactly what’s going on in each venture and to being involved in every decision. She also stresses the importance of trusting your gut when it comes to business.

“If you can be strong enough to trust your own instincts, that's the thing that's going to carry you through,” she says. “I really feel like that's been the number one thing for me all along. A lot of times something looks great on paper, and it probably is a good move career-wise or brand-wise, but if it doesn't feel like something that I really want to put my heart and soul in then I need to say no.”

From a young age, the singer’s parents instilled in her the importance of taking responsibility for her actions. The daughter of a banker, Yearwood did all her accounting and tax filing until she signed a record deal. Soon touring 250 days a year, the singer realized she couldn’t do it all. She hired an accounting firm, which she still works with today. She says the firm taught her that there needs to be checks and balances. If she has a question on a statement, she calls the firm up and they talk her through it.

MORE FROM FORBESDolly Parton On Facebook Partnership: 'I Thought Maybe I Could Help Spread Some Joy'

Yearwood also credits Reba McEntire and Dolly Parton, both of whom she thanked in her acceptance speech, for paving the way for her in country music.

“My husband, one of my favorite quotes when he talks about this is, ‘A woman works twice as hard for half as much,’” she says. “I think that's a fact in our world. I think about people that mentored me, especially business-wise like Reba.

“Reba was the first female artist that picked her own songs, picked her own producer, and that wasn't that long ago,” Yearwood continues. “When she started selling records and hard tickets for concerts that is when record labels started to show respect and started signing more women. When I look at the businesses that I've been involved in, we're making these companies money, so they don't mind having a female CEO as long as you're performing.”

As Yearwood continues to build her various ventures, she is also taking on the role of philanthropist with Dottie’s Yard Fund. Established earlier this year through the Community Foundation of Middle Tennessee, Dottie’s Yard is the charity arm of the Trisha Yearwood Pet Collection that shines a light on rescue and helps local shelters. The fund takes its name from Yearwood’s late dog Dottie and provided its first donation to Humphreys County shelters following the devastating Tennessee flood in August.

“It's the first business venture that I've been involved in that really has a specific here's how we give back [mission],” she says. “Rescue is so near and dear to my heart. I can't wait to see where it goes.”

MORE FROM FORBESMeet BRELAND: Chevy's New Brand Ambassador And Country's Go-To Collaborator

While Yearwood continues to build her businesses, she says music remains the thing that feeds her soul. She recently released her Every Girl Deluxe album and has plans to go back into the studio in 2022. Along the way, she simply follows her gut.

“Everybody wants to make money and be successful financially, but you really want to wake up in the morning and be excited about the things you're doing,” she says. “I think when you're having fun and you're enjoying yourself, that's when you have the most chance of being successful.”

Follow me on Twitter