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Recently, I met with gorgeous blogger Kate of The Styley. Kate launched The Styley in March and was looking for some blogging tips. Like a lot of other new bloggers, she wondered if it made sense to start a blog now, when there are so many big bloggers already out there.  In our discussion, I mentioned that fame doesnt necessarily equal fortune. People are so used to hearing the words rich and famous together that they think that one of those qualities cant exist without the other. Its like one word: richandfamous. Not only can you be rich without being famous, but you also can be famous without being rich.

Its especially easy for random-ass people to fall into the famous but not rich category nowadays, thanks to YouTube and reality television. But its nothing new in the business world, where it can take 10 or even 20 years for finances to catch up with public perception. Ive seen plenty of smoke and mirrors in the fashion industry. More than one designer has told me about being broke while his dresses appeared in the pages of Vogue and the Fifth Avenue windows of Bergdorf Goodman in the 90s. And last year, the New York Times reported that designer-to-the-stars Zac Posen hadnt turned a profit since he started his business in 2001.

Today, The Wall Street Journal reported that venture capitalists are investing $138 million in luxury-goods discounter Gilt Groupe, giving the e-commerce company a valuation of $1 billion. Here are the first two paragraphs of the article:

Gilt Groupe Inc. hasnt made a penny in profit since it was founded in 2007 as an online discounter of hot designer goods like Reem Acra gowns and Rebecca Minkoff handbags.

A recovering economy is drying up the flow of excess goods that supplied Gilts inventory during the recession. The company needs heavy investments to turn into an all-purpose luxury retailer. And competition from a flock of high-fashion copycats is getting tougher.

Surprised? You shouldnt be. A four-year-old company is still in its start-up period a time when a business-owner is often spending more than s/he is making.

If youre thinking this knowledge isnt relevant to your life, youre wrong. Have you ever been scared to embark upon something new whether thats taking up ice skating late in life, blogging for fun, starting a business, or applying for a job because youre intimidated by the perceived success of others? Have you thought, Ill never be as big as so-and-so; why even try? I bet some of you have. And those of you who have had that conversation with me in person have probably heard me say, Dont you know so-and-so is dead broke? Put some effort in and you can get attention and lose money too! Heres my fame doesnt equal fortune business (and life) advice.

• Be brave: Dont be scared by other peoples perceived fame. The attention doesnt prove theyre smarter, more talented or wealthier than you. If youre convinced you have a great idea, try it out. (But be prepared to lose money if youre starting a business.)
• Persevere: If youre getting recognized for your efforts yay! dont give up just because youre not making money yet. Youre not the only one who has discovered that magazine clips cant be deposited at the bank like cash.
• Fake it till you make it: Everyone who doesnt read my Bitchtastic Guide to Business™  will still believe that fame equals fortune. Encourage that belief. The appearance of success attracts opportunities that lead to actual success. See Gilt Groupes $1 billion valuation for proof.

The Bitchtastic Guide to Business™ is on its way to becoming a book. This is yalls free nibble. Its like getting a delicious food sample in a grocery store. Pretend I just gave you a shrimp wrapped in bacon. (If youre kosher pretend something else.) Remember how much you enjoyed it and come back for more later. While youre waiting, you can check out The Styley here.

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