Love them or loathe them, America’s royal family, the Kardashians, can teach us entrepreneurs a thing or two. The family has graced our airwaves since 2007, generating hundreds of millions of dollars through endorsements, clothing lines, beauty companies, and more. Despite facing many hurdles along the way, nothing seems to be stopping them.

1. Define your brand

“Mompreneur” Kris Jenner is no doubt the mastermind behind the initial success of the Kardashian family. One reason she’s such an effective manager is that she’s able to clearly communicate what each of her children’s brands is about — their similarities and differences. When launching your own business, you need to be able to clearly define your purpose, know what you stand for, and differentiate yourself from others. Having a set of brand guidelines is imperative for any company, spokesperson, or personality. If you don’t know what you stand for, how will anyone else?

2. Take calculated risks and diversify

Too often business owners get stuck in a routine of following the same processes, offering the same products, and never looking at the ways they might pivot their business. Kourtney Kardashian is a great example of a member of the family who knows about the importance of diversification. For example, in addition to her role on Keeping Up With the Kardashians, she has a new health and lifestyle site, Poosh, that also acts as an online store, not to mention her string of boutiques and TV spin-offs. Having your manicured hands in more than one pie can pay big dividends.

3. Collaborate with like-minded companies

Ever wonder how Kylie Jenner went from oft-forgotten younger sibling to arguably the most successful member of the family? She started small with clothing collaborations and established herself in the beauty and makeup industry before launching her first product line, the Kylie Lip Kit. That company evolved into Kylie Cosmetics, which cosmetics giant Coty bought a 51 percent stake of for $600 million in 2019.

Source Credit: Entrepreneur Middle East