The Oscars are one of the most anticipated and renowned red-carpet events that garner attention from around the world. As everyone eagerly awaits to see celebrities adorned in their finest attire, celebrating a night of artistry, creativity, and athleticism – they are also applauding those who have achieved excellence in all its forms.

But the work doesn’t stop there for these celebrities; at award show time they are held to a high standard and expected to perform their best. PR teams are hard at work, emergency touch-ups must be done in no time, and it is an ideal opportunity to learn some essential business tips.

From the awards season, we can take away valuable lessons that will help us blossom in business. Below are seven examples of how to put these teachings into practice and become successful entrepreneurs.

1. Be sure to have your facts and narrative ready.

Treat yourself as a celebrity and be attended to with the same level of care. As an ambitious businesswoman, make sure you are ready for all daily happenings in your workplace, from meetings to events. You must dress one step above what is expected at work; also have reliable recommendations for lunch spots on hand when entertaining clients or colleagues suddenly appears. Know about recent news articles concerning your specialized field so that conversation can flow naturally. All these seemly insignificant details accumulate and create an aura of competence around you that will leave a lasting impact on those who observe it—including your boss!

2. Examine the part closely.

When celebrities are asked what they’re wearing to events, it’s not just a question about their outfit – it’s also them representing the designer and making a fashion statement. You can do the same for your work wardrobe! Pick pieces that fit you well and make you feel confident; don’t be afraid to show off your style. Complimenting others on their clothes is an excellent way of getting compliments in return, as this shows that you care enough to put effort into dressing up for work.

Additionally, don’t overlook the importance of fashion. You never know when you may be asked to showcase your nails on a Mani Cam! You must take care of yourself and pay attention to details because, in front of the Glam Cam, things look different than how they appear under the bathroom light. We can all learn something from Jennifer Lopez who knows exactly what she is doing during interviews or at events—she has plenty of practice with her professional approach.

3. Regular repetition will lead to mastery.

When filming, be sure to practice in the real-world environment for maximum impact. Consider all aspects of your presentation such as lighting, audio, props, and timing. Ensure that everyone is included by speaking the names of key clients or supervisors – even those members who are part of your fan club! Don’t forget about them during this important event. These are the people who will drive you to success. Make sure that your words of appreciation and victory flow naturally when the time comes, such as with Julianne Moore and Jennifer Lawrence’s SAG acceptance speeches. Did you see a distinction between them? Which one resonated more deeply with you, and why?

4. Establish connections for lasting success.

Don’t let the opportunity to form connections pass you by! Greet your role model, come prepared with questions and compliments – then take that plunge. This works wonderfully in conferences as well as more formal soirees. Tweeting about it? Yes, please! While you’re at it, snap a few pictures too; this will help make the experience last longer even after the event is over. Leverage the platform to cultivate and excite your supporters. Don’t forget to recognize veterans of their craft (compliment them on perfecting their art/business) as well as newcomers (they could be major stars you collaborate with one day). As Tina Fey and Amy Poehler amused us at the Golden Globes, savvy female entrepreneurs understand this is a superb time for strategic networking.

5. Radiate with brilliance!

Personality is key. Express yourself with confidence and positivity through body language; make sure to display interest in other people’s conversations, as it will draw attention back to you in a positive way! Smile often – someone is always watching! Handle both wins and compliments humbly but proudly by accepting recognition for your amazing work. If faced with defeat, take the loss gracefully while still respecting the victor. For inspiration on how to carry yourself like a pro, look into Tory Burch’s joyous reaction after her successful Fall 2013 New York Fashion Week show!

6. Master public speaking.

Whether they are entertainers or businesswomen, professionals are regularly asked to provide a soundbite for the media.

7. Savour the moment.

You are extraordinary in your expertise. Appreciate yourself humbly and make the most of this moment. LL Cool J said, “When I look at [my Grammys], they inspire me to strive for excellence.”

Your assignment is to watch, learn, and evaluate the business lessons on this Sunday’s Oscars night. Whether you accept it or not, the Academy Awards could be viewed as a ‘Super Bowl’ of awards season! Who captivated you with her powerful words? Who gave a heartfelt, polished speech that was both enthralling and inspiring? Who displayed their attention to even the smallest of details in their appearance? Whose presence would make your next project shine? And most importantly, what did you learn from this business lesson onscreen??

Are you ready to get your red carpet on and watch the Oscars this Sunday? What do you look forward to learning from it?

[Related: How to Better Your Business Without Networking – LEVO]

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