The BizFilings blog covering business tips and trends.
How to Run a Business like Jay-Z
Published on Aug 22, 2013
Read our article, 'How to Run a Business like Jay-Z' at 'Time to Start Up,' the small business blog by BizFilings.
So you have a business, but you want to take the step towards greatness. Incorporating your business is always a good way to add credibility to your brand, but why not borrow a few tips and tricks from record-breaking rockstars? Jay-Z has not only built a brand from the ground up, but also is a successful business man, with plenty of lessons to teach the rest of us.
The renowned hip hop mogul founded his own clothing line, Rocowear; is co-owner of the 40/40 Club; and until this past spring, was part owner of the New Jersey Nets. And, when not making business deals, he makes music: he just released his 12th solo album.
Here are some practices from Jay-Z that may bolster your business efforts:
Leverage a major event to capture your target audience. Instead of the typical fanfare to promote his album, Jay-Z announced Magna Carta …Holy Grail during the NBA finals with a 3-minute long advertisement. Take advantage of a local event or celebration to not only network with community members but also gain business exposure by passing out flyers, business cards and coupons. County fairs, grand openings and farmers markets are great places to try this out!
Maintain a steady voice on social media. Mr. Carter tweets multiple times a day, about his music, his life and his other passions. It’s important to show your personality not only through a personal profile but also a Company Twitter handle or Facebook page. Make sure to monitor the activity on your Company page, in case potential and existing customers have questions about your offerings. Also, it will be important to insert your brand’s voice into any applicable conversations in your industry.
Partner wisely – and creatively. Ahead of releasing his new album, Jay-Z partnered with Samsung, who bought 1 million copies of Magna Carta …Holy Grail for Samsung Galaxy owners to download. If you were not a Samsung Galaxy customer, you waited five more days. And for the first time, an album went platinum before it was even released. This strategy to promote exclusivity can be applied on a smaller scale, to the mom-and-pop stores. If you run a clothing store, consider partnering with a local event. The first 100 people registered for the event will receive a store coupon for your shop. In return, the event gains exposure to a new demographic through your business’ existing customer base, and you reap the benefits of attracting new potential buyers.
No matter what type of business you run, big or small, franchise or startup, you have the power to turn visions into reality. When in doubt, remember Jay-Z’s words “I’m not a businessman, I’m a business, man.”