Jay Z, otherwise known as Shawn Corey Carter has been in the music industry for a long time now. He is not only a rapper, but is also a businessman and investor. As of September 2016, it was estimated that Mr Carter’s business ventures contributed to his $610 million net worth. He has over 3 million subscribers on his streaming service (Tidal), more than 100 million records sold and has received more than 21 Grammy Awards.
Here are 3 ways to think like Jay Z in order to grow your side-hustle.
Make your business useful to as many people as possible.
Jay Z started off his career with Hip Hop music that appealed to hardcore Hip Hop fans. He however wanted to go mainstream. So what did he do? He unashamedly “sold out” and made his music more appealing to a more mainstream audience. True Hip Hop fans did not like it, but he did eventually double his dollars.
Simple communication is important. Do not over-complicate your business process and marketing message. Your brand needs to be easy to understand and connect with. If you’re too complicated your clients will move to a competitor that feels more straight-forward.
Create various revenue streams for your business
Jay-Z diversified from earlier on in his career. He owned a night club, owned a sports team all while still working on his music. Today we see lots of artists teaming up with brands and starting clothing lines.
The more streams in your business, the more money.
Be an opportunist and a hard worker
Jay-Z once said, “Next time you see the homie and his rims spinnin’, Just know my mind is workin just like them… The rims that is!” He always stays curious and thinks of ways to improve himself.
Always think of new ways to improve, not just your business, but your inner self.