Multi-Billionaire John Paul Dejoria’s 3 Keys To Success When Starting a Business

John Paul Dejoria is an entrepreneur best known for co-founding Paul Mitchell Systems, a haircare company and Patron Spirits, a world renown tequila brand (I’m sure we all had a few shots). Forbes Magazine estimates his net worth to be approximately $2.9 billion. I think it’s safe to say he’s had some success in business. Paul recently dropped a few gems on the key ingredients to starting a successful business.

1. Be The Best In Your Category

Make the best product you possibly can. The end result should be when the consumer tries your product or service it is something they want again.

2. What’s Your Story?

Have a story behind your product that is true. Be authentic.  Then be willing to tell enough people your story and why your product is the best. You can have the best product in the world but if no one knows about it what good is it?

3. It’s Cheaper to Keep Her

Once you get a customer put your personality into it and really let them know how much you appreciate them. It’s harder to get a new customer than it is to retain your existing customers. Pay great attention to your first customers. They will be your ticket to new ones via word of mouth.

Martel

The Search Engine We’ve all Come to Know and Love is Changing its Name

No not Google silly, Yahoo is changing its name. As Verizon nears the completion of it’s purchase of Yahoo’s main internet properties, they’re making some major adjustments. One of those adjustments is changing the name from Yahoo to Altaba. The new name appears to be a derivative of Yahoo’s most successful asset Alibaba. Yahoo invested in the company early on. This investment proved to be very lucrative for Yahoo as Alibaba went on to claim the title of largest US-listed IPO in history at $25 Billion.

Yahoo’s CEO Marissa Mayer is also “stepping down” from her position on the board of directors of Yahoo.

It’s the end of an era. Remember when Yahoo was the Google of it’s day?

 Martel

Russia Says: “No LinkedIn For You!”

Russia has demanded that Apple and Google remove LinkedIn from their app stores in Russia. This comes after Russia blocked the LinkedIn website because the network does not “store data on Russian citizens within the nation’s borders,” according to a recent New York Times article.

Apparently Russia wants to keep tabs on those using the service and presumably would like to have easy access to said records. LinkedIn has refused to comply and hence the banishment. Hmmm “I see, said the blind man.” Interesting.

Reminds me of those Seinfeld episodes… Sorry Russia, Putin has spoken: “No LinkedIn soup for you!”

Martel

Cadillac Launches a New Service for People Who Don’t Want To Own a Vehicle

GM has created a new service called Book for it’s luxury Cadillac brand. It allows members to swap out their cars anytime for a flat rate of $1,500 per month.

Subscribers use an app to select the vehicle they desire then wait for the vehicle to arrive at a location of their choice. Customers are allowed up to 18 swaps per year.

The Benefits

  • Frees members from the hassles of owning a car i.e. having insurance, maintenance and registration
  • Members can match their vehicle to a specific occasion — i.e. an Escalade for a road trip or a CTS for a night on the town.

Sounds like a pretty cool concept. I can see this spreading to other car manufacturers. Would you use a service like this? Hit me on the Gram. In the meantime check out their explainer video below.

 

Martel

 

Meet the 5 Most Valuable Startups in America

5. WeWork

Valuation: $16.9 billion

Coworking startup

WeWork cofounders Miguel McKelvey and Adam Neumann

 

4. Snap

Valuation: $18.19 billion*

Formerly Snapchat, is a social media/camera company

CEO Evan Spiegel

 

3. Palantir

Valuation: $20.53 billion

Data-mining startup

CEO Alex Karp

 

2. Airbnb

Valuation: $30 billion

Home-rental startup

Product chief Joe Gebbia, CTO Nathan Blecharczyk, CEO Brian Chesky

 

1. Uber

Valuation: $68 billion

Ride-hailing startup

CEO Travis Kalanick

 

*Elon Musk gets an honorable mention. His aerospace manufacturing and space transport services startup, SpaceX comes in 6th place with “only” a $12 billion valuation. Poor fella.

Be inspired my friends, be inspired! Are you working on the next big thing? Hit me on the Gram.

Martel