She’s more than just the queen of singing and dancing. Beyonce Knowles is an entertainment powerhouse. She knows how to capitalize on her talents and keep the Benjamins rolling in (according to Billboard the Mrs. Carter tour grossed close to $200 million). We took the best of Queen Bey’s top singles to give you an overview on launching a startup Beyonce style.
Give yourself the “Greenlight”
Once you gain the chutzpah to follow your idea, you have to ask yourself a few questions:
1) What does your gut say when you “Listen”?
3) Who are you competitors? And yes, we know that nobody does what you do as well as you, but put aside your “Ego” for one moment – you do have competitors.
4) Who are your customers? Where do they shop? Where do they live? Don’t let “Me, Myself and I” be the only customer/market research you do.
5) What is your funding strategy? Need a loan? Better take all of this information and “Put it in a Love Song” aka a Business Plan.
Testing the market
Spend early dollars very, very carefully. In your business plan you should have already calculated the costs of making or delivering your product/service and how you’re going to market and publicize it to your audience. However, at the end of the day it’s still projections and you can’t say for certain how your audience is initially going to react to your product. So pay attention to the “Signs.”
Is something working? Is another thing failing? Are you doing some things just because someone told you to do them? “Work it Out.” Failure is OK. Just don’t be stubborn if it’s time to “Ring the Alarm” and bail on an idea that is not making you any money or moving you forward.
Breaking into new markets isn’t easy – especially for women. You’ll have plenty of “If I Were A Boy” moments. So it’s crucial to know your products, your mission and your audience in and out, because, unfairly, you may have to go over and beyond to prove that you know what you’re talking about.
Fine tune your PR methods. PR and marketing are two different things. Find out the difference. Talk about your business. Should you be on “Radio” or “VIDEO, PHONE?” you decide. If you can’t, ask an expert.
“Believe” in yourself
Put on your “Grown Woman” shoes and go after what you want, after all, it’s your dream. Get yourself a good circle of friends, of advisers and of peers, because you’re going to need them.
On days when things aren’t going your way, there will be a reserved tank of “Superpower” to draw from – it’s called passion. That’s what keeps you going at night and gets you through those long intense days. Go after what you want because you don’t want that old “Poison” named “Resentment” popping up to haunt you 20 years from now. Wasted dreams turn out to be “Best Thing I Never Had” moments.