Kylie Jenner recently made headlines for being incredibly close to becoming the youngest self-made female billionaire in history at just 21 years old. The future of business is fast-paced, which means accelerated product lifecycles. Here are the lessons you can learn about how Kylie is expanding her business.
Why Entrepreneurs Should Understand How Kylie Jenner Is Expanding Her Brand
Lesson 1: Be Adaptable
Be prepared to act quickly to reap the rewards of evolving consumer preferences and technological changes. Create innovative ways to connect with your customers.
Outsource as much as you can to keep your business model simple. Kylie Cosmetics uses Seed Beauty for the development and manufacturing of products because Seed Beauty offers a timeline of just five days to take a product from concept to consumer. There’s a service for everything. Delegate what you can to specialized reputable companies who can deliver services more quickly and efficiently than you can.
Build your team with empowered employees who can make decisions quickly. This approach cuts down on the time it takes for new ideas to be pitched and signed off allowing you to react more quickly to market changes.
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Lesson 2: Listen to Your Customers
In addition to engaging with existing and potential customers via her social media channels, Kylie organizes pop-up stalls in malls across the U.S. This type of marketing helps capture a larger target market who may not be active on Instagram or Snapchat.
Give your customers the opportunity to play a role in creating your products and services. Motives Cosmetics is hugely popular because our team combines upcoming seasonal fashion and makeup trends with what our customers want and need.
