Business Lessons from – Kylie Jenner (Kardashian)
“Kylie Jenner net worth 2019: Is the youngest billionaire of all time worth more than her Kardashian sisters?” Source: London Evening Standard
Last weeks business news week carrying the headline all about Kylie is not all it seems – and on the face of pure hyperbole or spin. The truth is even stranger – see not only has this (young) lady made a business out of nothing – the possibilities for you are endless.
For us, small business owners there is indeed a valuable lesson to be learned from Kylie and the rest of the family. Let me explain to you what these lessons are if you are not aware of the story nor understand who the Kardashians are.
The news from the Evening Standard tells us that Kylie is the first billionaire at age 21.
That in itself is a milestone and one that should be considered as a possibility for all us. – if we put in place the right systems. So how has Kylie done it?
The very first thing that leaps out about her story is that she is self-made. Sure she might have had some help from the family – don’t we all need some help? And it also helped that she has a media profile before she had a business. But please don’t be distracted by these facts because what she has built is a very interesting and considerable business that is in the main automated – like it works without her turning up for work. And for the first three years, she had no real success.
So what are the lessons?
- You don’t need your own high street presence in order to have a billion dollar business.
- You don’t need to be selling low priced or high priced products.
- Social media is leverage for your business – not a place to argue with trolls and ne’er do wells.
- Selling services online is hard – but products are a lot easier – even 21-year-olds can do it and very successfully.
This is a cute business and one that can be replicated by everyone. Selling products and automating them, using partner channels, using automation is all possible for you and your business, and now. Business doesn’t have to stuck in 1983 – and even if your dream is to have a presence actually on the high street – wouldn’t it be nice to have an online option – working 24/7 whilst you do other things – like post selfies on Insta….
What Nikki Hobbs said about me …. “I have no hesitation in recommending him to anyone looking to increase the success of their business.”
Want a heads up on this, you and I should talk further about the options of moving your business toward more business, and easier than ever before. I’ll even give you half an hour free of charge and copy of my new book. Get in touch today via email (admin@therichardsmith.com) or sms me a good time to call on 0774 007 6226 (Whatsapp) and I’ll get back to you within 24 hours.
There are a number of simple business lessons from Kylie.
It may well be the case that your initial feeling is – this ain’t for you. That’s fine, it is your business after all. Question is if your business is still being worked in by you, if you are not making sales overnight or on the weekend – you have a problem.
No matter how hard you work, how much time you put in – you are always limited by the hours in a day. Leverage is about applying a multiplier to your time and therefore your money.
Kylie employs leverage in a big way – that’s why she’s a billionaire at 21.
- Customers now demand/expect to find you online – yet your website sucks.
- It’s expensive maintaining a position on the high street – that needs to be managed.
- Cross-selling and follow up sales are hard when you don’t have any contact or engagement with your existing and potential customers.
- Joint venture partners are a simple way to grow a business – it’s called symbiosis and happens in the natural world.
Fact is, Kylie only employs 7 full-time staff and employs one person full-time on the finances, manufacturing of all products is dealt with remotely, and drop shipped from the manufacturer to consumer or to the joint venture partners. This is a cute business and one that can be replicated by everyone.
| “I couldn’t believe my luck! Here I was talking to someone who knew what he was talking about, could cut through the ‘white noise’ and also spoke my language and he understood exactly what I wanted.” Colin Palmer |
I’ve spent the last ten years working with small businesses and I have slowly a number of solutions that are repeatable and profitable. Give me a few minutes of your time – I promise not to waste it – truly promise that.
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Richard