Question of the Day: Business Lessons from the Kardashians

6/10 microphones, Listen HERE

  • Quick Tip: If you speak at a slightly below the bottom range of your voice and will be perceived as more powerful/leading the room

Question: What can we learn from the success of the Karashians?

  • The Kardashian Business Plan Summary
    • Step 1: Get noticed somehow (no sex tape required)
    • Step 2: Build social media following
    • Step 3: Profit (e.g. TV, stores, website, apps, etc.)

  • The Kardashians have made an impression on younger people as incredibly successful business people
  • Sources of Income: reality TV, clothing lines, apps, social media endorsements
    • James tried to get Kourtney K. and it would have cost over $10k (Kim is even higher)
    • They need to disclose they are paid (it’s the law), so James thought it was worthless
  • Kim first had a Unique Selling Proposition (USP): Sex tape with Ray Jay = elevated he from a D to a B+ level celebrity
    • From this she built a huge social media following and was early to start directly interacting with her followers
    • Leveraged this into a reality show
    • Leveraged that into clothing stores, apps, etc.
  • So how could someone with zero talent do this? Can’t be true she has no talent?
  • Could she do this before social media?
    • PT Barnum had no talents, but recruited the right people and worked it
  • Examples/Tips:
    • Mimi iKonn has millions of youtube views
      • No ads
      • Never directly mentions her website, but does have a link
      • That is enough to drive $M’s of sales from selling products on her site
    • Persistence is important- lots of videos/etc. to build traction
    • No need to have a sex tape, but you can find your own strategy
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