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(Video) What Every Entrepreneur Can Learn From Jay-Z

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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.

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

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Some people seem to naturally know how to effectively communicate in a group setting. They can express themselves clearly and listen attentively without dominating the conversation.

Being a powerful communicator is important for several reasons, including building and maintaining relationships, achieving goals, resolving conflicts, improving productivity, leading and influencing others, advancing in your career, expressing yourself more confidently and authentically, and improving your mental and emotional well-being. Effective communication is an essential life skill that can benefit you in all aspects of your life.

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1.  Listen actively: Practice active listening by giving your full attention to the speaker and responding to what they are saying.

 

2. Use “I” statements: Speak from your own perspective and avoid placing blame or making accusations.

 

3. Avoid assumptions: Don’t make assumptions about what the other person is thinking or feeling.

 

4. Be clear: Express your thoughts and feelings clearly and concisely by getting to the point and avoid using jargon or overly complex language.

 

5. Show empathy: Show that you understand and care about the other person’s feelings.

 

6. Offer valuable insights: When speaking in a group, provide a valuable takeaway or actionable item that people can walk away with.

 

7. Be an active listener: Listen attentively and respond accordingly, incorporating your points into the conversation.

 

8. Choose the right time: Pick the most opportune time to speak to ensure that you have the group’s attention and can deliver your message without interruption.

 

9. Be the unifying voice: Step in and unify the group’s thoughts to calm down the discussion and insert your point effectively.

 

10. Keep responses concise: Keep responses short and to the point to show respect for others’ time.

 

11. Avoid unnecessary comments: Avoid commenting on everything and only speak when you have something important to say.

 

12. Cut the fluff: Avoid being long-winded and get straight to the point.

 

13. Prepare ahead of time: Sort out your points and practice them before speaking in a group.

 

14. Smile and be positive: Smile and nod along as others speak, to build a positive relationship and be respected when it’s your turn to speak.

 

15. Take responsibility: Take responsibility for your own actions and feelings.

 

16. Ask questions: Ask questions to clarify any confusion or misunderstandings.

 

17. Avoid interrupting: Allow the other person to finish speaking without interruption.

 

18. Practice active listening: Repeat what the other person said to ensure you have understood correctly.

 

19. Use your body language too: Use nonverbal cues such as eye contact, facial expressions, and body language to convey your message and build rapport.

 

20. Be aware of the tone of your voice: it should be calm and assertive, not aggressive or passive.

 

By keeping these tips in mind, you can improve your communication skills and become a more powerful communicator, which can help you build better relationships, achieve your goals, and lead a more fulfilling life.

I you want to learn how to become more confident in life then you can join my weekly mentorship calls and 40+ online workshops at AweBliss.com so you can master your life with more success.

 
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