Starting a business can be extremely stressful, as the odds of surviving the early stages and growing it into a success are often stacked against you as an entrepreneur. There are many components that must align properly, both within your control and out of your control, so the more prepared you can be, the better your odds will be.
From competition analysis and market research, you have to go into a new business venture fully prepared. You need every advantage you can, and in today’s society, social media is a major part of how we live, operate and conduct day-to-day life.
One of the easiest things you can do that can play a pivotal role in your businesses success is building a personal brand and leveraging it to give your business exposure to an audience that will have a high likelihood of being interested in whatever it is that you are selling.
Just how much of a difference can a strong personal brand make? How about a $600 million-dollar payday like Kylie Jenner just experienced when she sold off 51% of her Kylie Cosmetics brand, giving up majority ownership.
It’s a brand she started a few years ago with $0 in advertising money. She had built up her personal brand to the tune of tens of millions of followers across Instagram, Facebook, YouTube, Twitter and Snapchat.
When she went live with her fist product, lip kits, she sold out within minutes and crashed her e-commerce store.
Her personal brand was so strong that her audience created a massive demand for her products, and to this day she continues to sell out new launches and re-stocks within minutes every time.
Her personal brand is responsible for her ability to grow the brand at a lightning fast pace and why she was able to do it all without any outside investment. She self-funded the entire brand, using money she made from sponsored posts on Instagram as the seed money.
So, just how did the youngest self-made billionaire leverage her personal brand to create such a massive net worth? The animated infographic below highlights several of the key factors that she used to create one of the most successful direct-to-consumer brands and skyrocket past all of her famous family members in terms of personal net worth.
Regardless of what your opinion of her famous reality star family, one thing cannot be denied, and that is the true power and potential that a strong personal brand provides. Use Kylie’s story as motivation for your own business ventures. The time it takes to build a strong personal brand is well worth the investment.
Cover photo by Walt Disney Television / Flickr