People seem to have mixed feelings about the Kardashian family, well at least that’s my perception. Whether you like them or not, one thing you cannot deny is their entrepreneurialism. I mean inheriting money and being in the public eye probably got them a good starting point but keeping their wealth and building empires probably takes a bit more strategic thinking and savviness.
In this series of #BossLadyLessons we will be looking at some of the Kardashian family members to see what lessons we can learn from them on how to build a business empire. And first up is Khloe Kardashian!
Before we dig into the juicy part lets look at what she has and is doing:
Khloe is the youngest of the Kardashian sisters. Her net worth is said to be around $40 million. According to Time she earned most of her money from being one of the executive producers and cast members of Keeping up with the Kardashians, as well as her own spin-off shows.
Image Source: Good American
She may be most known for her TV appearances, but Khloe has branched into different businesses. For example, the clothing line Good American, the DASH boutique that she owns together with her sisters Kim Kardashian West and Kourtney Kardashian, the Khloe Kardashian App, she is also an author having written the book Strong Looks Better Naked and on top of that she has other income streams including endorsement deals and sponsorship deals.
Now check out the business lessons we can all learn from Khloe:
Build a business about something close to your heart:
Perhaps this may not be the most traditional business advice but let’s dig deeper into her business Good American.
On their website they write that Khloe and her co-founder Emma Grede started Good American because they both thought there was something missing from the denim community. They found a problem which was that whenever they bought new jeans, it was hard for them to find a pair that fit their body types”. So they figured that if both had this problem, there must be other girls who do too.
Now why does it work as a business? This leads us to the second lesson:
Find an unexplored gap in the market
On Fortune.com Branding expert Nick Nanton states that society has grown to make people be “more accepting of people’s differences.” As “Good American is inclusive of sizes that mainstream brands commonly leave out it opens up possibilities for previously excluded plus-size women and uncovers a new market.”
Secondly, it goes hand in hand with her new show Revenge Body With Khloe Kardashian. In other word she has really created a brand for herself and built businesses around the topic of body positivity and that go hand in hand with each other.
Video: From Good American YouTube Channel
Which leads us to the last lesson:
Determine your niche and build a strong brand around it
The fact that her businesses and TV shows are linked to body positivity makes it also much easier for her to upsell and create a strong brand and credibility as an influencer in that field.
If you would choose a business based on one topic and build your knowledge and products around that you will eventually create a name for yourself as the person who is an expert in that field. Consequently, when someone is looking for a product or service in that field you are the first person that comes to mind. So, focus on your area of expertise and build a brand and business around that.
I would love to hear your comments about this topic so please comment below and Share!
Also who else would you like to be featured in the #BossLadyLessons?