Jay-Z is a billionaire mogul these days. What small business lesson can we learn from him?
But 30 plus years before he became a billionaire icon he was an unknown rapper on the way up.
After putting in the work, time, and energy to become a famous rapper he dove headfirst into building a business empire based on his…..name.
Each business differed but he lent his name, likeness, and celebrity to all ventures he launched.
His famous rap quote sums up one reason why he became a billionaire:
“I’m not a businessman. I’m a business, man.”
Jay-Z built up his credibility, trust, skills, and brand based on his rap game and the name “Jay-Z”. As long as he had his name, credibility, and the trust of his followers, starting each venture on a sound, aligned, simple business model, he became destined to make millions if not hundreds of millions through each venture.His famous rap quote sums up one reason why he became a billionaire:"I'm not a businessman. I'm a business, man." #smallbiztips Click To Tweet
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He Is In The Jay-Z Business
The Official Jay-Z Fan Page on Facebook boasts over 19 million followers. Imagine how many loyal, supportive, trusting fans he has around the globe.
Imagine millions of Jay-Z fans around the globe buying 1, 2, or 20 pieces of apparel from the clothing company he sold in 2007. From owning nightclubs, to streaming services to liquor brands, not only do hundreds of thousands to millions of these people buy his stuff; they also grow his business organically through word-of-mouth marketing.
Growing up in nearby New Jersey, I noted how all NJ and NYC sports professionals had countless clubs to choose from in NYC. Yet Jay-Z’s 40/40 club attracted the highest number of star basketball, baseball, and football players because most were huge fans of Jay-Z the rapper growing up.
The rap icon isn’t just an entrepreneur or businessman. He *is* the business that has become a billionaire by inspiring fans and celebrity friends alike to become loyal customers, happy clients for his sports agency, and brand advocates that spread his word like wildlife, any time he launches another venture.He *is* the business who has become a billionaire by inspiring fans and celebrity friends alike to become loyal customers. #smallbiztips Click To Tweet
Small Business Lesson
I am a business, man, too.
I decided to build up the “Ryan Biddulph” name to inspire people to:
me, based on my blogging skills.
Now, when my tribe sees the name “Ryan Biddulph” attached to:
- blog posts
- guest posts
- consulting services
- coaching services
I instantly gain their trust because my tribe knows my name, trusts my name, and supports my blog, brand, and business while spreading my word through organic, word-of-mouth marketing.
Changing Your Business Is A Small Business Lesson
In 2014 I shut down my old blog and brand. But since I was always in the “Ryan Biddulph” business I simply informed my tribe to follow Ryan Biddulph at Blogging From Paradise Dot Com. They did. I hit the ground running with my launch because unless I die or stop blogging, my tribe will always be there since my tribe follows me based on my name and blogging skills.
Every blogging business or income stream I lend my name to gains credibility based on my name and blogging skills. What happens if one business or income stream dissolves? I add another business or income stream to continue prospering as I learn from each small business lesson.
Literally, my small business cannot die unless I do or unless I quit the small business because my small business’s trust and credibility are 100% attached to my name.
Imagine if I completely dissociated myself from my small business. I would suffer through economic downturns and worry about my bottom line taking a massive hit any time an income stream vanished.
But since I am in the “Ryan Biddulph” business I can start ventures related to my blogging niche and prosper because my profits are built into my name, courtesy of my loving, loyal, supportive tribe, who trusts me first, then, my businesses.Literally, my small business cannot die unless I do or unless I quit my small business because my small business trust and credibility is 100% attached to my name. #smallbiztips #bloggingtips Click To Tweet
Be In The YOU Business
Be in the business of “you” by:
- building your name by mastering your craft over the years
- gaining credibility in your niche
- building a large, loyal following by helping your tribe with free content
Trusting, loyal tribe followers will become customers and clients for businesses you launch aligned with your blogging niche because people who trust you freely exchange money to enjoy whatever goods or services you offer.
Some people successfully build small businesses by dissociating themselves from ventures but if you’re willing to put in serious work to become a leader in your niche the immense returns you receive are well worth the effort.
What can you learn from this small business lesson today? We would love to hear about your small business lessons in the comments below.