Entrepreneurial identity beyond Celebrity status: An Effectuation-Based Narrative Analysis of Maudy Ayunda

Abstract

Celebrities are increasingly moving beyond endorsement roles to become entrepreneurs, using their reputation, networks, and personal resources to create business opportunities. However, limited research has examined celebrity entrepreneurship through the perspective of effectuation theory. This study explores the entrepreneurial experiences of Maudy Ayunda as a female celebrity through the five principles of effectuation. Employing a qualitative approach with thematic narrative analysis, data were collected from three podcast videos and public interviews on YouTube, then transcribed, coded, and interpreted. The findings indicate that Maudy’s entrepreneurial narrative reflects all five principles. Bird in Hand is demonstrated through her knowledge and social relationships, while Affordable Loss appears in her time management and awareness of social risks. Crazy Quilt is reflected in trust and shared values in business partnerships. Lemonade emerges through her openness to feedback and adaptability, while Pilot in the Plane is evident in her autonomy and motivation to create change. Notably, Maudy does not explicitly position popularity as her primary entrepreneurial resource. Instead, she emphasizes knowledge, experience, relationships, trust, and decision-making abilities. This study contributes to effectuation theory by highlighting the distinctive construction of entrepreneurial identity beyond celebrity reputation.