What CEOs can learn from Dolly Parton’s approach to business

Dolly Parton will be remembered first and foremost for her music, but behind the rhinestones, towering blonde hair and unmistakable Tennessee accent was also an exceptionally shrewd businesswoman.

By the time of her death at 80, Ms Parton had built a commercial empire spanning music publishing, theme parks, hospitality, property, consumer products and entertainment.

Yet some of the most interesting lessons for today's business leaders come not simply from how Ms Parton made her money, but from what she chose to do with it.

Here are six lessons CEOs can take from Dolly Parton's approach to business.

1. Know the value of what you own

One of Ms Parton's most consequential business decisions came long before Dollywood became a tourism powerhouse.

When Elvis Presley wanted to record I Will Always Love You, his manager Colonel Tom Parker reportedly required Ms Parton to surrender half of the song's publishing rights as part of the deal, but she refused.

It was an emotionally difficult decision, but an extraordinarily valuable one. Ms Parton retained control of the song and, when Whitney Houston turned it into a global phenomenon in 1992, its success generated millions in royalties for its songwriter.

So a prestigious deal is not necessarily a good deal. Knowing the long-term value of intellectual property – and being prepared to walk away when necessary – can matter more than the name on the other side of the negotiating table.

2. Build a brand that can travel

Dolly Parton was a singer, but 'Dolly' became much more than music.

Her commercial interests stretched from Dollywood and hospitality to pet products, fragrances, baking products and entertainment.

What connected those ventures was a remarkably consistent personal brand. Southern food products, a Tennessee theme park and flamboyant pet accessories might look like completely different businesses, but all made sense under the Dolly Parton name.

Moving into a new market does not necessarily mean abandoning what made a company successful in the first place. The strongest extensions of a brand often reinforce its existing identity.

3. Invest where you came from

Ms Parton grew up in poverty in Tennessee's Great Smoky Mountains. When she became wealthy, she did not simply leave her hometown behind.

Her investment in Dollywood helped create a major tourism business in the same part of Tennessee where she grew up, creating employment and drawing visitors into the region.

Rather than treating her roots merely as part of her personal story, Ms Parton turned them into part of her economic legacy.

For business leaders, particularly those operating in small communities such as Malta, it is a reminder that investment in the community surrounding a company can ultimately strengthen both.

4. Employees are worth investing in

Workers at Dollywood are among those eligible for Herschend Enterprises' GROW U programme, through which eligible employees can have tuition, fees and required books fully funded from their first day of employment.

The benefit extends to seasonal, part-time and full-time workers.

It reflects a philosophy increasingly relevant to CEOs competing for talent: employee development does not have to be viewed simply as a cost.

Businesses frequently speak about wanting skilled and loyal employees. Helping people become more skilled in the first place can be part of achieving that.

5. You can protect your wealth without making wealth the entire point

Perhaps the most interesting contradiction in Ms Parton's career is that she was simultaneously an astute defender of her commercial interests and an extraordinary philanthropist.

She knew what her songs were worth. She built businesses around her name. She retained ownership and monetised intellectual property across decades.

But she also gave extensively.

Her Imagination Library, established in honour of her father, who could not read or write, grew from a programme serving children in her home county into an international initiative that had gifted more than 300 million books by the end of 2025.

She also contributed to medical research, hospitals and disaster-relief efforts.

A business leader can be serious about generating and protecting wealth while also deciding that accumulating the maximum possible amount of it is not the only measure of success, and leaves a truly lasting legacy.

6. Decide what you want your success to do

Perhaps Ms Parton's most enduring business lesson has little to do with balance sheets.

She could turn royalties into property. She could turn her personal identity into businesses. She could invest in the region where she grew up. And she could turn part of the wealth generated by decades of commercial success into books, education, healthcare and disaster relief.

CEOs spend considerable time considering how to grow businesses, increase margins and create shareholder value.

Ms Parton's career poses another question worth asking: Once success has been achieved, what is it actually for?