How the founder of Hypebeast made millions by mistake
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- Опубликовано: 16 сен 2024
- 00:00 Introduction
01:15 Chapter 1: Passion
6:30. Chapter 2: Value
10:35. Chapter 3: Credibility
11:49 Chapter 4: Experimentation
14:55 Conclusion
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So you dream of starting your own business. You dream of quitting the rat race, of telling your boss you're not going to do this anymore...But you have to have a plan right? Perhaps you should get an MBA or spend millions on market research?
HypeBeast is proof that you don’t need any of this and in fact provided you follow the same four key steps, you too could build a brand worth millions of dollars ($$$).
PASSION
The first mistake most people make is that they think they need to invent something new or come up with a wildly radical business idea. Kevin Ma’s proves that finding something you're passionate about, is the first key factor to success.
Passion enabled Kevin to spend all his freetime, during University and afterwork, to build HypeBeast. Passion drove Kevin to learn new skills, from hosting a website to affiliate marketing. Passion was the fuel that moved Kevin & HypeBeast forward.
VALUE
Whilst passion was the fuel that kept them moving forward, it was value to ensured HypeBeast eventual success. Kevin realised early on that the teenagers he used to chat to on forums like NikeTalk, had grown up. They now had way more money to spend on sneakers & streetwear. He also noticed this audience was growing in size, from a few hundred people to tens of thousands. Despite their growing size and financial wealth, Kevin Ma realised that audiences' needs weren’t being met. Brands like Vogue & GQ looked down on them and there was no decent content online.
So by creating Hypebeast and providing better, more up to speed information Kevin was providing overwhelming value to a market not being served.
CREDIBILITY
All of this value would be undermined, however, if Hypebeast never maintained its credibility. One of the most important factors behind the brand’s success is that they never prioritised short term profits over serving the streetwear community. They only worked with quality brands (ie Nike, Supreme, Palace) when it came to sponsored links and advertising. Further Kevin Ma rejected several private investment offers, as he never wanted to compromise the credibility of the brand. And even when HypeBeast did float on the stock market, and IPOd, Kevin still kept creative control
EXPERIMENT
Years of giving value and maintaining credibility, now allows HypeBeast to experiment. It allows them to stretch the brand into new areas from ecommerce (HBX) to new content (HypeBeast Magazine). This relentless drive to experiment keeps HypeBeast relevant and moving forward.
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All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement is intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please contact me via my email in the "about" page on my channel.
Hey there!
This is my first ever video on RUclips and on this channel. After 12 years as a strategic consultant to big brands i wanted to give something back to RUclips. Please leave me a comment and let me know what you think - what could be improved? What could be done better? What do you like/dislike?
EDIT: Chapters tags no fixed. Still finding my with my first video. Thank you.
Great work man! Keep on pushing towards your goals
Thanks! Gonna come back one day!
Nice work! Great in depth insights. People are aware of lots of big brands but not always how they somehow become fixed in the public consciousness. The story of their journeys is a good one to tell and something others can learn from. Keep it up!
Cheers John. Aprreciaste it :)
Excellent, looking forward to more of your videos. :)
Awesome, thank you! First ever comment on my channel. YOU ARE A LEGEND.
Brilliant! Thanks for the in depth video and perspective. Subscribed :)
Carols thank you so much for taking the time to watch. It really means a lot. Let me know if you think there are any areas of improvement etc. Thanks again :)