Business Development

What micro business owners can learn from listening to hip hop

Hannah Wilkinson | 20 April 2016 | 8 years ago

hip hop business
Kanye West
Earlier this year we spoke to the founder of a dating app inspired by Tupac but he certainly isnt the only hip hop artist to have words of wisdom to offer the owners of small young businesses. Business Advice rounded up some of the most useful advice that rappers had for those at the helm of young firms.

Cash flow

when we die, the money we can’t keep/ But we probably spend it all cause the pain aint cheap? Kayne West, No Church in the Wild

Time and time again studies show that the biggest challenge in the first few years of business is cashflow. Recent research by HitachI Capital found that one-third of micro business owners were losing sleep over money worries. But West goes on to assure listeners they will make it out alive? something which is vital to bear in mind when you’re awake at 3am.

Business development

minute after minute, hour after hour/ Everybody’s running, but half of them ain’t looking? Coolio, Gangsta’s Paradise

Stepping back from the day-to-day issues you’re bound to encounter when running a small business is never easy. But taking a step back from the race to solve every problem, looking around you, and taking time to work on your business as well as for it is invaluable.

Marketing

my Pop told me be your own boss/Keep integrity at every cost? Nas, Bridging the Gap

Whether it’s agree to fulfil an order you’re not sure you have the capacity to produce, or selling product features you havent quite developed yet, the temptation to over-promise will be rife at so many opportunities but with small business owners seen as a beacon of trust compared to less reliable corporate leaders, honesty isnt a quality you can afford your customers to doubt.

Supply Chain

quick gotta move fast, gotta perform miracles? Eminem, Business

It doesnt matter if customers are large supermarkets who can switch to another supplier at the click of their fingers or customers for whom a late delivery will mean a birthday is ruined the impossibility of a 100 per cent success rate doesnt matter to those awaiting deliver fulfilment. So be wary of neglecting logistics in favour of more glamorous bits of your business, as there’s always room for improvement.

HR

?Some got hopes and dreams, we got ways and means/ The supreme dream team always up with the scheme? Mya, Ghetto Superstar

What small business lack in promotion opportunities and corporate benefits can be made up for by providing employees with more opportunities to share ideas and be involved in the development of their firms? future. So take the time to find out what motivates your micro firm’s staff and make the most of their ideas.

For business guidance of a slightly different variety, check out our interview with Dragons? Den investor Kelly Hoppen.

Related Topics

16 Tips & Tools to Boost Small Business ROI
8 January 2024

16 Tips & Tools to Boost Small Business ROI

Read More →
How to Master the Art of Professional Networking
3 January 2024

How to Master the Art of Professional Networking

Read More →
How Businesses Can Save on Their Energy Costs This Winter
28 September 2023

How Businesses Can Save on Their Energy Costs This Winter

Read More →
Exploring the Immersive World of VR Development: Applications and Opportunities
25 September 2023

Exploring the Immersive World of VR Development: Applications and Opportunities

Read More →
The Importance of Data Analytics in Making Informed Business Decisions
14 September 2023

The Importance of Data Analytics in Making Informed Business Decisions

Read More →
How to Write a Business Plan That Investors Will Love
13 September 2023

How to Write a Business Plan That Investors Will Love

Read More →

If you enjoy reading our articles,
why not sign up for our newsletter?

We commit to just delivering high-quality material that is specially crafted for our audience.

Join Our Newsletter