26 Jul 9 Business Lessons You Should Learn From Justin Bieber
Okay ,okay, you might not have “Bieber fever” or be a “Belieber” however if you take away any thoughts you have towards the 21 year old and look at this just from a business perspective its very hard to argue against his achievements.
- Well a good place to start is to state he is currently has a net worth of $200 million.
- Justin was placed in the top ten most powerful celebrities in the world by Forbes for magazine three years running, beating the likes of Simon Cowell, Taylor Swift, Rihanna and Steven Spielberg.
- Only Solo Artist with Four Top 40 singles before the release of a debut album
- The only artist to have notched five No. 1 albums before turning 19 years old
- The music icon has sold 8 million albums in the United States and over 15 million albums around the world.
- He has the sales record in the US, with his 2010 single baby reaching 12X Platinum (12 million sales) being certified diamond by the Recording Industry Association of America.
- His 1st film, Never Say Never, earned $100 million at the box office whilst his 1st perfume, Someday, made $60 million in retail sales during its first six months.
It is safe to say Bieber is a global superstar, who is forward thinking, determined and has a ridiculous work ethic.
But how do you compare his celebrity and personal fortune with business qualities and vision?
Well since Justin turned 15, he has been creating a business empire beyond his personal brand, he has been investing in many areas such as start-up technology companies such as ‘Shots’ and ‘Spotify’.
The future planning that both his advisors and Justin have taken have maximised his earning potential whilst making sure that even if the music ever stopped his business would not.
That is why I want to discuss the 9 Business Lessons You Can Learn From Justin Bieber.
1) He understand’s his audience
In business knowing and understand your audience is critical for your success, you can’t target everyone no matter what industry you are in, for example a designer for high heels don’t target 65 year old men as it would be a waste of time and money, likewise to begin with Bieber’s niche market and concentration was firmly on the lucrative teen female market (although he is now starting to expand on this now with a change in music).
Bieber found his market, catered to their wants and built their support. He displayed this even without his music, releasing a perfume, ‘Someday’, which was the best-selling perfume of 2011, and his brand of nail polish also sold over a million bottles in two months.
However do keep in mind that just because you are targeting a specific niche does not mean that you have to purposely exclude people, but instead you just focus the majority of your effort and brand message on the people who are most likely to buy from you.
2) He connects with and involves his audience
Equally as impressive as Justin’s financial power, is his unbelievable social media power and reach. With more than 72 million Facebook fans, over 5.8 billion views on Youtube and 66 million Twitter followers.
Now I am not saying that you can attain this vast amount of fans and followers, no matter what industry or how big or small you are that would be an incredible but very unlikely achievement. However i definitely believe that there is a lesson to be learnt from what he does with these followers.
Justin really knows how to create a buzz and gets his fans (his form of clients) to do whatever he wishes really, whether that is to market his new song, give to a certain charity or even to follow one of his artists.
The main way Justin advertises his new music nowadays is through social media or ‘word of mouse’ which in modern day marketing is a vital component in building your brand. Social sharing and social proof are now such a strong marketing principal which can bring in new clients and opportunities to you, and the best part is it both low cost and highly effective.
Finally Justin interacts with his fans, responding to messages, mentions or pictures, overtime he does this not only does he guarantee one fan for life but he makes another 10,000 girls believe that one day he will reply to them. He has made it more like a family than a fan base.
3) He manages his time well
One of the most discussed topics in business articles and blogs is time management or how people believe there is a lack of time to do everything. Which in the modern world with literally hundreds of distractions, it can be difficult to remain disciplined and focussed.
Everyone will have different weaknesses and it is important to recognise this yourself, for example my mobile is a distraction for me, with the likes of texts and social media notifications making my phone buzz frequently. You need to not only make ways to minimise this but maybe to also plan some time into your day or week where you finish any tasks which your distractions have made you take a bit longer to complete.
Early on in Bieber’s career the radio stations wouldn’t play his song ‘young kid, with a young voice, thats not our thing’, so displaying his determination and belief he went to every station across the US performing his song and any request until they would play his song. No show was too big or too small, Bieber maximises every appearance, effectively, playing covers and ensuring that he maximises his global exposure.
This for him would have been very time consuming similar to creating a regular blog for many business’ if not more with all the travelling, but he knew that he needed consistent exposure was vitally important for him to grow.
The lesson you must take from this is that its important to understand and prioritise tasks that will benefit you the most. Then for your longer-term success to understand where and when you are at your most effective or creative.
4) He has superhuman work ethic
One thing that nobody can doubt Justin Bieber offers is hard work, even moving on from the radio station story Justin has remained at that high level of focus, work ethic and determination. Such as his Believe tour which had over 160 shows spread all over the world in a 15 month period, so over 10 shows per month, while writing new music for his next album, doing radio interviews, investing, modelling, and many other different opportunities or requirements for someone in his role.
No matter what business you are in you have to be willing to put in the effort to get it to where it needs to be and where you want it to be and even then to stay on that level. Justin is no different as he claims in his Believe movie “When you’ve reached a certain point of your life, there are people out there waiting to see you fall,but rather than let gravity take you down, sometimes you have to take matters into your own hands and fly” no matter how well you do, you cant take your eye of the prize in business and thats definitely a lesson that must be learnt.
5) He loves what he does
For a global superstar as big Justin Bieber it is impossible to turn this off, all the hype, all the work, all the paparazzi and since he was 13 he has not lived a very normal life. From a young age to be willing to put in so many hours and handwork into something you have to love what you do.
For the majority of business owners especially when starting out you will be working a lot more than the average person, some weeks you might work 14 hours days, sometimes you might get a phone call at 1am from a client who needs you, many different things can occur. If you don’t love what you do this will not be fulfilling at all.
Many life coaches talk about finding what you love and not settling and i definitely feel at a young age Justin found what he loves and has absolutely mastered it becoming one of the worlds biggest stars.
When you find what you love and what makes you and your business unique. It is time to take that step into the open, start marketing it, take risks and step outside the box, it is important to make your business stand out.
6) He has built the right team
Many people reading this may still be thinking that Bieber has only got to here because he is paying a great team of people for his marketing and to manage his interests.
This would have slight some slight truth (although I find it impossible to doubt Bieber’s talent and work) but the same should apply for any growing business. Almost every successful entrepreneur has a strong support network or a great team of employees who are all collectively working towards the same goal.
Whether it is a mentor, a mastermind group or employees, having a group working towards a goal is so much more effective as they will help to push you further. They can also help you to understand your strengths and weaknesses so that you can then look at building teams around that to make your service more complete.
According to the likes of Scooter Braun and the people close to him, say that Justin is a workaholic and more than an average teen star.
Bieber’s manager Scott ‘Scooter’ Braun is massive for Justin the guy is one of the best marketers I have ever seen, his talent for catching talent and turning them into a superstar is ridiculous with some of his other artists being : Ariana Grande, The Wanted, PSY and Rixton.
Scooter is frequently engaging with start-ups over potential investments which fit Bieber’s image and existing portfolio. Braun recognised the opportunities on offer for Justin, knowing that he has the power to promote any product / service he invests in to his global audience.
Having the right people around you is so beneficial to and business owner. This was evident in the growth of Justin Bieber.
7) He has multiple revenue streams
They say that the average millionaire has around 7 sources of income and Justin has definitely diversified his time and money to achieve multiple revenue streams.
So taking away his music he is also involved in any things such as:
- He’s a venture capitalist
- A technology investor
- Actor – As well as being the subject of several movies, Justin has also had guest appearances in several TV shows. The Simpsons, playing a prisoner in Behaving Badly and a stint in CSI: Crime Scene Investigation are just some of his acting credits to date.
- Calvin Klein model
- Perfumer – He has released 2 different fragrances the first, ‘Someday’ grossed more than $3 million in sales at Macy’s in just under three weeks.
It would be a huge risk to place all your eggs in one basket for any business owner, even Richard Branson has diversified Virgin into multiple industries. Most successful business owners understand that there is a need to diversify and develop new revenue streams to counteract the risk of market changes.
8) He collaborates with other famous industry leader
When starting a new business one of the quickest ways to be noticed is to work alongside an industry leader. This works whether your business is local or on a global scale. This is a common trait with online marketing, however, it also happens frequently in the music business.
I am sure you have seen it year on year, when an established artist releases a single featuring someone new in the track. The guest artist automatically gains credibility and recognition since people have seen them with the main talent.
This is a great lesson and tip for the average business owner.
9) He dreams big and wants to leave a legacy
If you read more about his story or watch his ‘Never Say Never’ film, you will see that he actually came from a quite poor background, with a single mum replying on food banks to feed them. Until some YouTube videos started of his rapid rise to the top.
When you are thinking into your won business and life plans and goals, don’t contain yourself by thinking small. Dream big. The larger you dream then the more determined you will be, the more prepared you will be and the happier you will be.
The enormous platform that JB has created is just phenomenal. The number of people’s lives he has benefited is vast and this allows for Justin to leave a heroic legacy that will live-on long after he’s gone.
One final point I would like to touch on that you (wrongly) don’t hear about as much, is everything Bieber does which ads tremendous value to the world. Not only does he give millions of people hope and inspiration at the same time.
But also one of his business values is that everything he does has some charity component to it including his capital ventures.
Not to mention, with the ‘Make A Wish’ foundation he actually holds the record for most wishes granted by a recording artist ever.
Here are just a few of the causes he’s supported in the past:
- Children’s Miracle Network Hospitals
- City of Hope
- Cure Duchenne
- Give Back Hollywood Foundation
- GRAMMY Foundation
- It Gets Better Project
- Pencils of Promise
- Red Cross
His legacy will be left not only by what he can do but why who he is and I think people appreciate that, what you give you will receive and I truly believe that you should always aim to give back with your own business’.