The youngest of the Kardashian-Jenner clan, Kylie Jenner, is one of the 17 women who made Forbes’ richest self-made women list. Alongside Anastasia Soare (CEO of Anastasia Beverly Hills) and reality TV star sister Kim Kardashian (CEO of KKW Beauty), Kylie is the youngest to have built a multi-million-dollar cosmetic company and the youngest to make the Forbes List of “America’s Richest Self-Made Women.” Maybe 2018 is the year of cosmetics?
With her cosmetic labels and dozens of brand partnerships under her name, Jenner is quickly appearing to be the most entrepreneurial member of the Kardashian-Jenner clan. Known from “Keeping Up with the Kardashians” to becoming the chief executive officer, chief marketing officer, and chief creative officer of her cosmetic company that generated sales of $420 million in the past 18 months, Kylie is only getting started in her career. Here are a few things young entrepreneurs could learn from Jenner:
Use Social Media Platforms as Free Advertising
After Kylie Jenner launched her first three lines of lipstick in 2015, all three sold out within seconds. The 20-year-old Jenner admitted that she doesn’t pay for advertisements or do commercials. Instead she markets her products on social media channels such as Snapchat and Instagram, where she will give mini tutorials to her 111 million followers. Kylie has been able to leverage social platforms to engage with consumers, gaining approval from them before the products hits her website.
Don’t be Afraid to Experiment + Evolve
Building her beauty empire on hard-to-get lip kits and lip glosses, Kylie Cosmetics has now expanded to eyeshadows, blushes, and tubed lipsticks. While maintaining consistency is key for most brands, what if your brand is known for constantly experimenting? Kylie admits that she thought her brand had to be consistent, but just like her hair, green one day and blonde the next, she is now switching it up and coming out with new products for her consumers.
Turn the Negative into Opportunity
Jenner did not decide to just make lip kits overnight. The drive for her makeup line came from a more personal place. After controversy surrounding her puffed up lips, Kylie took her newfound attention as an opportunity and used that asset she had and create Kylie Cosmetics. As no.57 on the list of 100 Most Creative People in Business 2017, she used this situation as a way to grow her career. Don’t let the negatives drive the vision of your brand, instead make it work in your favor.
Take Risks, Take Control
Instead of using $250,000 of her earnings to buy a sports car, Kylie made smart decision to use it to produce her first 15,000 lip kits, taking an enormous gamble on her business. Synonymous with entrepreneurship is the idea of risk. Jenner admitted that she was unsure about her business and people didn’t take her seriously as a CEO because of her age and reputation. As Kylie Cosmetics grew into a million-dollar-empire she’s beginning to prove everyone wrong. Needless to say, Kylie has demonstrated that with the right mindset, you can have the opportunity to see your vision become a reality, whether you are an investor, an entrepreneur, or a fearless girl.