Success Advice
(Video) What Every Entrepreneur Can Learn From Jay-Z
In his book, “Empire State of Mind: How Jay-Z Went from the Street Corner to the Corner Office,” author Zack O’Malley Greenburg traces Jay-Z’s success at amassing wealth and influence. Greenburg describes Jay-Z’s story as “the American dream in its purest form, a model for any entrepreneur looking to build a commercial empire.” He spoke with BNET about what entrepreneurs can learn from Jay-Z’s rise.
Read on for some Awesome Entrepreneurial Advice from Zack O’Malley Greenburg as he shares what he has learnt from the King of Hip Hop “Jay-Z”.
(Video) A Look At Jay-Z’s $450 Million Empire with Author, Zack O’Malley Greenburg
What Every Entrepreneur Can Learn From Jay-Z
BNET: Why write a biography of Jay-Z that focuses on business, not music?
Greenburg: Jay-Z was one of the first to really realize the potential to turn yourself into a lifestyle. People give Martha Stewart credit for creating a lifestyle brand, but Jay-Z has done the same thing, only with a different lifestyle. Jay-Z, along with Puffy and a few other major hip-hop figures, has managed to monetize celebrity in ways that popular artists in other genres haven’t.
BNET: What is one of Jay-Z’s most shrewd business moves?
Greenburg: Jay-Z used to shout out Iceberg Apparel in his songs, which sent sales of Iceberg products soaring. He saw that happening, so he went to the executives of the company and said, “Hey, I’m making you all this money. Why don’t we formalize this with some kind of endorsement deal or equity stake?” The guys at Iceberg weren’t having it, so Jay-Z and his partner Damon Dash started their own clothing line, Rocawear, which became incredibly successful. Within 10 years, Jay-Z sold it for $200 million.
BNET: What’s the key to his business success?
Greenburg: First, there’s the music. He wouldn’t be where he is without being a talented wordsmith. But starting with Rocawear he had a template: Instead of rapping about other people’s products, he could rap about his own.
He also tends to take on mentors, learn everything he can from them, and then discard them and move on to a new mentor. During his early career, you see this with Jaz-O and Damon Dash. He discarded mentors like these and kept moving on to the point where his mentors are now people like Warren Buffet and Oprah.
And Jay-Z has something that people want: coolness. That’s valuable for a company like Microsoft, which has problems with coolness — its rivals make fun of it for being nerdy. When Jay-Z put out his book, Microsoft gave him $1 million worth of marketing and formed a partnership with him. Microsoft was basically providing a valuable service for Jay-Z in exchange for being associated with his coolness. It’s pretty bizarre, but wonderful for Jay-Z.
BNET: He’s a hustler, which any good entrepreneur needs to know how to do.
Greenburg: One of the things that Jay-Z retained from the streets to the boardroom was the idea that he wasn’t going to give anybody any discounts on anything. If a crack rock was selling for $10, you weren’t going to get it for $9.95 — even if you were his best friend. That’s something that stuck with him throughout his career. He wasn’t going to take any less from anybody than what he thought he was worth.
His background prepared him in another way too: When you’re used to operating under the intense pressure of the streets, where anything could go wrong and your life is on the line, going into a boardroom with a bunch of guys in suits is a lot less intimidating.
This post originally appeared at BNET.
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How to Choose the Best Affiliate Programs for Your Blog
If you follow these steps, you can create an affiliate marketing plan that makes money, fits well with your content, and connects with your readers
Picking the right affiliate programs for your blog is really important. It can make a big difference in how much money you can make and how much your readers get out of your blog. With so many choices out there, deciding which ones to go with can be tricky.
This guide is here to make it easier for you. It will give you clear steps and helpful tips to choose affiliate programs that fit well with what your blog is about, what your readers like, and what you stand for.
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Understanding Affiliate Marketing
Before you start picking affiliate programs, it’s important to really understand what affiliate marketing is and how it works.
Basically, affiliate marketing is when you promote a product or service on your blog, and then you get paid a little bit every time someone buys something or does something because you recommended it.
It’s great for both the person selling the product and the blogger, because the seller gets more sales with low risk, and the blogger can make money from their blog.
How to Choose the Right Affiliate Programs for Your Blog
1. Assess Your Niche and Audience
The key to doing well in affiliate marketing starts with really knowing what your blog is about and who reads it. Consider the following:
- Your blog’s content: What topics do you cover? Ensure the products or services you promote are relevant.
- Your audience’s interests and needs: What solutions are they seeking? Choose affiliate programs that offer products or services that solve their problems or enhance their lives.
2. Research Potential Affiliate Programs
Once you know what your blog is about and what your readers want, start looking for affiliate programs. Choose ones that are well-known for good products, great customer service, and helpful support for affiliates. Resources to find these programs include:
- Affiliate networks like ShareASale, Commission Junction, and ClickBank.
- Direct searches for “[Your Niche] affiliate programs” in search engines.
- Recommendations from other bloggers in your niche.
3. Evaluate the Commission Structure
The commission structure is a critical factor to consider. Look for programs that offer competitive rates that make your efforts worthwhile. Consider:
- The percentage of commission per sale.
- Whether the program offers a flat rate per action (e.g., per sign-up).
- The cookie duration, which affects how long after a click you can earn commissions on sales.
4. Consider the Program’s Reputation and Sureness
Join affiliate programs with a solid reputation for quality and sureness. This not only ensures that you’re promoting good products but also that you’ll be paid on time. You can:
- Read reviews from other affiliates.
- Check the program’s history and background.
- Look for any complaints or issues reported online.
5. Analyze the Support and Resources Offered
A good affiliate program gives you things like ads to use, training on their products, and helpful managers. Having access to these resources can really help you do a better job at promoting their products.
6. Understand the Terms and Conditions
Before signing up, thoroughly review the program’s terms and conditions. Pay close attention to:
- Payment thresholds and methods.
- Any restrictions on how you can promote their products.
- The program’s policy on affiliate marketing on social media platforms.
7. Test the Product or Service
If possible, test the product or service before promoting it. This firsthand experience allows you to offer genuine charge and build trust with your audience.
8. Look for Recurring Commission Opportunities
Some affiliate programs pay you again and again for subscriptions or services that charge fees regularly. These can provide a more stable income compared to one-time sales commissions.
Implementing Your Choice
After choosing the best affiliate programs, the next step is to smoothly include your affiliate marketing in your content plan. This includes:
- Creating valuable content that naturally incorporates affiliate links.
- Disclosing your affiliate affairs transparently to maintain trust with your audience.
- Tracking your results to understand what works best for your audience and adjusting your strategy accordingly.
Picking the best affiliate programs for your blog involves careful planning, research, and making sure they match what your audience likes and needs.
If you follow these steps, you can create an affiliate marketing plan that makes money, fits well with your content, and connects with your readers.
The real key to doing well with affiliate marketing isn’t just about the products you talk about, but also how much your audience trusts and values your advice.
With enough time, patience, and hard work, your blog can grow into a successful space that earns a good amount of affiliate money and helps your readers choose the right products.
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