eye of a mogul, building a brand: what every business owner can learn from jay-z

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Eye of a Mogul is a business education series that highlights and dissects the characteristics and superior marketing skills of the 21st century mogul. We present these proven techniques in an innovative and easy to understand strategy called Mogul Marketing

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Page 1: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z
Page 2: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

About Eye Of A Mogul……..…………….….…4 What Is A Mogul..………………………….….…5 What Is A Brand…………………………….….…7 Define Your Brand……………..………………..9 Be The Brand…..........………………….….....12 Brand Association…..……………………..….16

Eye M.A.P.P.S is the business education

branch of TME Media Group, LLC.

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Page 3: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

The Mogul Marketing Strategy was developed by Eye M.A.P.P.S, the nonprofit arm of TME Media Group, and is used as a business education resource for entrepreneurs and small business owners. Our marketing consultants chose Shawn “Jay-Z” Carter as the Mogul to emulate because of his philosophy “I’m not a businessman, I’m a business man.” We believe this philosophy is not only profound but that its underlying meaning speaks to the totality of today’s marketing culture. Every small business owner should realize that essentially they are their business.

Meet the Author

Michael Bailey is an Internet Entrepreneur, Photo Blogger, Multimedia Marketing Consultant and the founder of South Carolina's largest minority- focused news blog, TheMinorityEye.com. Bailey is considered an innovator and a true maverick in the fields of media and marketing. Contact: Michael Bailey (803) 619-3752 Email: [email protected] Twitter: @theminorityeye

About Eye Of A Mogul: Mogul Marketing Strategy

Eye of a Mogul is a business education series that highlights and dissects the characteristics and superior marketing skills of the 21st century mogul. We present these proven techniques in an innovative and easy to understand strategy called Mogul Marketing.

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Page 4: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

Long ago, the word “Mogul” had a very different meaning. It once referred to a fierce and powerful Islamic warrior from ancient Persia. Moguls were considered great horsemen and swordsmen who devised ingenious fighting tactics using primitive weaponry. Their mastery of warfare helped them conqueror the entire subcontinent of India and rule it for nearly 300 years.

Today, a mogul is considered a powerful business person who has amassed wealth and dominance in a particular industry. Mogul is most commonly associated with individuals who rise to power in the fields of media and entertainment. He or she is viewed as the alpha leader in his or her field, and as such can influence the trends, power brokers, industry standards, growth and popularity of their particular industry.

Building A Brand: What is A Mogul – Introduction

17th century Mughal (or Mogul) Warrior. The Mughal emperors were direct descendants of the legendary Mongolian warrior the Great Genghis Khan.

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Page 5: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

It can be said that moguls are like snowflakes; no two are alike but they all posses similar traits. •Visionary. (having an unwavering belief in an idea or concept that does not yet exist) •Self-promoter. (vigorous promotion of themselves or their brand) •Influential. (influence is the most important attribute of a mogul, brand or organization) •Ingenuity . (the quality of being clever, original, and inventive, often in the process of applying ideas to solve problems or meet challenges)

With education and practice…lots of practice, you can train yourself to think like a mogul, act like a mogul and become a mogul. Eye M.A.P.P.S is a business education and training series that teaches small business owners to view their business or product through the “Eye of a Mogul.”

“They say a midget standing on a giant's shoulders can see much further than the giant. So I got the whole rap world on my shoulders, they trying to see further than I am.”

Eye of A Mogul: Volume 1 – Building A Brand

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- Jay Z - Hovi Baby

Page 6: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

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If you Google the word “Brand” you will get 3,200,000,000 results and an even longer list of varying definitions. The most commonly accepted definition is; A Brand is a trademark or distinctive name identifying a product or manufacturer . But, this is an old definition. A brand today is something totally different.

“I’m so far ahead of my time; I’m bout to start another life – look behind you, I’m bout to pass you twice.”

Today a “Brand” is more than just a symbol or logo to consumers. Your brand is you mantra. It’s your story. It’s your flag. It’s the very heart and soul of your company or organization. It not only defines you and your business, but it defines the consumers who buy or use your products or services.

Building A Brand: What is a Brand – Chapter 1

- Jay Z - Hovi Baby

Page 7: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

According to FORBES, hip hop mogul Shaw “Jay Z” Carter has amassed and empire that as of April 2012 has a net worth estimated at $460 million; making him the most successful hip hop artist of all time. Jay-Z said it best: “I’m not a businessman, I’m a business, man.” Jay-Z has not only developed several successful brands, but he has turn himself

and his lifestyle into a brand.

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Jay-Z simply used his influence with his customer base (his cult like fan following) to attract and make deals with corporate brand managers. The concept was simple. Fans that bought Jay-Z’s music would also be compelled to buy other products associated with him.

“My mind on my money, money on my mind. If you owe me ten dollars, you ain’t giving me nine.”

Eye of A Mogul: Volume 1 – Building A Brand

- Jay-Z - Say Hello

Page 8: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

In 2003, Jay-Z became the first non-athlete to score an endorsement deal for a line of sneakers with an athletic shoe company. The question every business owner should ask themselves is, “what attracted Reebok to Jay-Z?” The answer to that question is, the “Jay-Z Brand.” Jay-Z built a brand that said success. He looked like success, he talked about success and he associated himself with successful people.

What all entrepreneurs need to realize is that a brand is not just a symbol or a name, it’s a reputation and it’s the perception that consumers have when they think about your company or products.

Eye of A Mogul: Volume 1 – Building A Brand

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“People respect success. They respect big. They don’t even have to like your music. If you’re big enough, people are drawn to you.”

- Jay Z

Page 9: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

In order for business owners to build strong brands, they must first fully understand what a brand is and is not. If we view a brand the way Jay-Z or any mogul like him views’ it, then we know a brand is not a logo or name. It’s the thoughts, feelings and perceptions a person has when they see your logo, use your products or hear your company’s name. With that being said, the true definition of a brand is the emotional response or connection consumers have when they think of your company or products.

Eye of A Mogul: Volume 1 – Building A Brand

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“I dumbed down for my audience, doubled my dollars, They criticize me for it, yet they all yell, Holla!”

- Jay Z - Moment Of Clarity

Page 10: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

Defining your brand is important because it’s the foundation that your marketing strategy should be built on. In order to define your brand you have to first tell the story of your brand. That story should not only tell consumers who you are and what your business does, but it should also explain why you're in business. A good brand story should explain your company’s colors, tag lines, logos and specific terminology associated with your brand.

Building A Brand: Define Your Brand – Chapter 2

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“Remind yourself. Nobody built like you, you design yourself.”

- Jay Z - A Dream

Page 11: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

All Jay-Z fans know his story. They know he’s from the Marcy projects in Brooklyn, NY and they know of his past history of selling illegal drugs. Jay- Z has explained that he started rapping as an escape from that criminal lifestyle. They know that the name of his record label “Roc-a-fella” was inspired by the success of the famous industrialist and philanthropist John D. Rockefeller. By sharing these intimate details of his past and explaining the meaning of the company’s name, he has not only defined that his brand means success, but he has also told the story of the Jay-Z brand. Jay-Z fans know he is a hustler in every sense of the word. He has a history of hustling, he has a hustler’s heart.

Eye of A Mogul: Volume 1 – Building A Brand

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“I sell ice in the winter, I sell fire in hell, I am a hustler baby, I’ll sell water to a well.”

- Jay Z - You Don’t know

Page 12: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

When defining your brand, all business owners should ask themselves these 3 questions:

Do consumers know who you are? (Do consumers know your personal and professional story?)

Do consumers know the meaning of your product or company’s name?

Do consumers know the significance of the logos, colors, terminology and images associated with your company or products?

Eye of A Mogul: Volume 1 – Building A Brand

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“Do you fools listen to music or do you just skim through it? See I’m influenced by the ghetto you ruined. That same dude you gave nothing, I made something doing.”

- Jay-Z - Renegade

Page 13: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

Building A Brand: Be The Brand – Chapter 3

Jay-Z views his business ventures not as different companies and products but as extensions of himself. As a business owner, you should view your company or products the same way. When most entrepreneurs start their businesses, they don’t have million dollar marketing and advertising budgets, a client list of major corporations nor do they have a track record of past clients. They only have their personal reputations and images that will essentially become their brand.

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“I’m not a businessman, I’m business…man.”

- Jay-Z - Diamonds are Forever (Remix)

Page 14: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

We have all heard that you should “dress for the job you want, not the job you have.” This is very sound business advice that every entrepreneur should follow. Sight is our most powerful sense which is why you need strong visuals to represent your company. So, until your company becomes a household name you have to be that strong visual. You should dress like the clientele and customers you want to attract. Remember success attracts success.

Eye of A Mogul: Volume 1 – Building A Brand

When Jay-Z dropped his first album “Reasonable Doubt,” he had not yet made it in the hip hop industry but he rapped as if he had. He talked about success, he dressed like success, and he called his company by a name that represented success. He incorporated images into his company’s logo that portrayed a successful lifestyle, thereby branding himself as successful.

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“You can pay for school but you can’t buy class.”

- Jay-Z - Swagger Like Us

Page 15: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

In order to be the brand, you must first understand the role your products or services play in your customers lives. You also have to know the role your products or services will play in the over all consumer culture. Knowing these two things will help you understand the “Brand Culture.” Lastly, you must stay up to date on advances in your particular industry or field. You must stay current on the “3 T’s”; technology, tools and theories. These are the three things that will ultimately keep shaping and defining your particular field for years to come.

Eye of A Mogul: Volume 1 – Building A Brand

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“How you get so fly? From not being afraid to fall out the sky.”

- Jay-Z - Beach Chair

Page 16: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

Once you have identified the “Brand Culture,” the next step is to figure out how to become part of that culture?

To figure this out might take some considerable marketing research. You or your company must become a part of that brand culture. Your company’s name and logo must be seen and be seen frequently by your potential consumers where they live, work and play. Your company’s products and services must not only fit nicely into your consumers lives, but it must compliment or add value to them.

Eye of A Mogul: Volume 1 – Building A Brand

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“I’d rather die enormous than live dormant.”

I said it before and I’ll say it again. Until your brand becomes a household name, you are the brand and that means that you are responsible for carrying out all the above mentioned tasks. You have to figure out the best way to integrate yourself into the brand culture. You have be able to provide useful knowledge about your specific field. You have to embody the very essence of what your brand stands for and you have to develop very distinctive traits that make you stand out from competitors.

- Jay-Z - Can I Live

Page 17: Eye Of A Mogul, Building A Brand: What Every Business Owner Can Learn from Jay-Z

Building A Brand: Brand Association – Chapter 4

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“Ain’t nothin’ wrong with the aim, just gotta change the target.”

Brand association refers to the perceived strength that your product or service has to overpower all other products of the same general category. For example, someone may ask for Pampers when they really mean disposable diapers.

Instead of asking for bleach, one might specify “Clorox.” Clorox has marketed themselves as the most powerfully effective cleaning product that exists. If someone asks for a Kleenex, do they really want that brand of tissue or will any tissue do the trick? Probably any tissue will do, but the Kleenex brand has cornered the market in defining the highest quality tissue.

- Jay Z - American Dreamin

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Eye of A Mogul: Volume 1 – Building A Brand

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The fastest, most effective way to raise the profile of your brand is to surround yourself or be associated with moguls in your particular field. Every mogul knows that not only should they be around other successful people, but they should rub elbows with those who are even better than they are.

Throughout Jay-Z’s life he sought out mentors to help him sharpen his skills and raise his profile. (From Jaz O, his early hip hop mentor to Damon Dash who taught him to navigate the music industry. )

Jay-Z now keeps the company of moguls such as Warren Buffet, Oprah Winfrey and Michael Jordan. Jay-Z is probably most noted not for the moguls he rubs elbows with, but for the mogul that he keeps on his arm; wife Beyonce, the undisputed R&B princess.

“Flier than a piece of paper bearin my name / Got the hottest chick in the game wearin my chain.” - Jay Z - Public Service Announcement

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Join the Eye M.A.P.P.S Facebook Group

We at Eye M.A.P.P.S know that not everyone is going to amass Jay-Z’s wealth, but with a little coaching, you can train yourself to think and act like a mogul thereby making you a mogul in your particular field or industry.

Through our Eye of a Mogul eBook series and workshops, Eye M.A.P.P.S marketing consultants will supply small business owners with valuable information regarding new and exciting techniques in the areas of Marketing, Advertising, Public Relations, Promotions and Sales.

“Treat my first like my last and the last like my first and my thirst is the same as- when I came.”

To learn more in-depth tactics for building your brand and using the Mogul Marketing Strategy join the Eye M.A.P.P.S Facebook group to stay up to date on workshop dates and the release dates for new Eye of a Mogul eBook series’. In a few months we will have you viewing your business and brand through the “Eye of a Mogul.”

Eye of A Mogul: Volume 1 – Building A Brand

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- Jay Z - My 1st Song