Business development · 20 April 2016

What micro business owners can learn from listening to hip hop

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


 
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ABOUT THE EXPERT

Hannah Wilkinson is a reporter for Business Advice. She studied economics and management at Oxford University and prior to joining Business Advice wrote for Kensington and Chelsea Today about business and economics as well as running a tutoring company.

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