It goes without saying that the Queen of Pop, Beyoncé is one of the most successful business women of the modern day. Whilst you and I might not (currently) be pop-icons, with a net-worth of over AUD$430 Million there is a thing or two we can learn from the way she does business. Here are 4 things we can all learn from Bey about running a flawless small business.
1. Upgrade U (but start small)
Even the likes of Beyoncé had humble beginnings, before she got her big break with her solo-career, she began her rise with the Destiny's Child group producing music catering to the hip-hop and pop-rnb music scene. She continued this style of music as she made the move from group-lead to solo-artist. Moral is, don't ever forget your first customers - they can be your biggest advocates, and are invaluable as you begin to grow your business.
2. Who run the world? (Girls), and branding...
Branding is crucial when growing a business. It's important to both maintain and image of authenticity, and being different from your competition. The key here is to not present an image that isn't true to your business, stick to what you're good at, and convey that with everything your business does. Beyoncé has always been pretty consistent with her message of feminine empowerment and racial equality, and presents this within her music. Do the same with your business to build your own competitive advantage.
3. Turn Lemons into Lemonade
Making the best of a bad situation is something that business owners will inevitably have to do. Is it a bad customer review? The loss of a client? How you handle these situations will not only shape the future of your business, but help you to become a more confident small business owner. Beyoncé is no stranger to the same. When a 'boycott Beyonce' backlash followed her 2016 SuperBowl performance, she made and sold her own "Boycott Beyoncé" t-shirts. That's called making lemonade.
4. Being Crazy In Love with what you do
Being a small business owner is about having passion, and working hard. But as a business owner, you can't do everything yourself (at least not forever). Beyoncé says she loves recording music and performing, but isn't crazy in love with the other parts of her job. The takeaway here is focusing on what you do best, and doing it well. Delegate other jobs to team members or family, or train help to come on board when things get a little busy. Beyonce will still review every single piece of content or product that comes out of her brand, but knowing where to spend your (sadly, limited) time is key to being successful in small business.
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