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15, 2020

9 minutes of reading

Opinions are described Entrepreneur their contributors.

Well, admit it – never been a fan of Kardashian. I recognize that “Momager” Chris Jenner and her descendants have accomplished remarkable feats in attracting attention and revenue, which are the two highest goals of entrepreneurship. But for me, the problem is the personal actions that mom and her family constantly take for the sake of celebrity.

‘S exclusion from the list of Forbes billionaires (after making the cover of the magazine in March 2019 as the biggest self-made billionaire in 22 years), that’s true.

Of course, the family’s fame is perhaps most notable for the fact that it has appeared on the back of tabloid headlines, popularity on Instagram and reality TV. The family has already had wealth and growth in the legal careers of ex-lawyer Chris Simpson Robert Kardashian (now deceased) and subsequent ex-husband and former Olympian Bruce Jenner (now Caitlin Jenner). But there seemed to be little to explain the family’s rise beyond a small portion of Kim’s daughter as organizer of Paris Hilton’s closets Simple life in 2003, after which the stolen sex tape was famous.

Whether you love Kardashian or despise them is hard to dispute the perseverance of any team that could support any program, let alone a reality show, for a long time Keep up with the Krdashianswhich has been running since 2007 for 18 seasons so far.

Chris ’mom helped the clan’s daughters, in particular, draw attention from Instagram and tabloid headlines to the roles and brands of celebrities in clothing and beauty. The youngest daughters Kendall and Kylie have achieved perhaps the most traditionally legitimate roles, and Kendall, who is now 24, has been named the highest paid model in the world in 2018, 2019 and 2020. Kylie’s youngest sister was recognized as the most financially successful as a founder and owner (the growth of the wildly viral business of Kylie Lip Kits, launched in November 2015). This is the claimed profit for Kylie Cosmetics, which formed the basis of an aggressive PR contest for the Forbes billionaire rating in 2019.

As an expert in PR, I would like to warn someone to follow the road map followed by Kylie’s team. They abused the rules of PR, and they persecuted them again.

Similar: 6 Common public relations mistakes

Rule 1: Be careful what you do for attention

Although the acquisition of some form of attention and influence is a vital part of the game for most businesses, in my view, the types of businesses that exist primarily for the ability to monetize attention are trampled in dangerous places.

If you actively seek attention to things that the press acts differently, you run the risk.

For example, in the midst of the global health crisis, I see legions of companies seeking to promote themselves for good. “We donated masks; bad means for hand disinfection “, – were afraid, announcing. They want to be perceived as heroes, and they want to know the world. The competing agency even acted in our region, hoping that own” treatment “will be free from public relations to promote them in the company to do good.Gm, no.

While there are many examples of people and companies luxuriously supporting their communities, the motive for “seeing” them and promoting themselves as benefactors is a risk. For each type of PR, consider the first question, who needs information and why they need it. If you only help you, because promotion is a bad reason to fill the etheric waves, and it is also prone to fire.

As a person who has written columns over the years, I’m stunned by the courage of people who conclude interviews with comments like, “By the way, you need to include my name in the headline because I’m trying to fight a scary story on ABC,” or ” This story should call me a “great leader” because I use it on my own marketing after that. “Both of those conversations ended on the spot, and neither story emerged.

In contrast, the founder of the distillery, who turned from alcoholic beverages into mass production of disinfectants for medical facilities, party members and members of society, was extremely interesting to me and others. Why? Because he spoke openly about the realistic restrictions on the transportation of ethyl alcohol and the very real vulnerabilities faced by entrepreneurs, determine how long the core should last and whether it can or should resume when the pandemic ends. These are stories that grab readers ’attention by showing others that they are not alone in their fears and inspire them with ideas used by others.

In the situation with Kylie Jenner, her PR machine made a mistake by relentlessly breaking Forbes data that they have to take into account, calling the vulnerable a self-made billionaire. Even in private business, they offer tax returns and usually confidential records to increase their claims. These figures seemed to have formed, and they paid attention to the press they were asking for. In doing so, they violated Rule 2:

Similar: What to do when you wake up with a PR crisis

Rule 2: Beware of releasing private funds

Companies that are publicly traded are required to disclose their funds. So if they had a quarter up or down, the world would know about it, and the SEC requires you to report information in a format that is accessible to all. This is a great step of transparency; however, when disclosing a public campaign you must follow careful procedures to ensure the information is in the correct format and simultaneously accessible to all observers. If you are a board member or participant who knows the information in the early stages, you are not allowed to trade it or disclose it to other people (as too many public figures have learned).

If you are in private law, while you have to provide information to your board, the bank and your private investor, you should seriously question the rational nature of sharing with someone else. Let’s say you have a record quarter. Well done! But if you blame it on the press and the public, you don’t need to train competitors as well as the audience you’re trying to impress. What’s worse, once you open the books, what will the press and the public do if you then get a negative quarter and refuse to answer the question, do you wish? Now that the gauntlet has been thrown, you will have to either provide an update or allow viewers to guess the answer by refusing to report bad news about it.

If the reason for the disclosure is to tell the market that your product exceeds expectations, why not evaluate the response differently, such as in percentage growth or units sold? Even then, think about why you released information that could be put up for comparison in subsequent seasons. But it seems that Kardashian’s team also violated the most basic rule of PR: Never lie to the press.

Rule 3: You should never lie to the press

It was reported that a PR group pushing Kylie’s agenda had prepared tax returns to verify further profits. Of course, the figures supported the business estimate of $ 1.2 billion, making Kylie Jenner a bona fide billionaire.

But what the PR group was thinking was this: Jenner is now selling Kochi’s company for $ 600 million. This is understandable potential in a season when sales of many products have declined. However, the information that Coty provided to its investors about the preliminary results of the company is an order of magnitude less than the amount offered by the PR team Forbes. The new figures not only clarify the position of the billionaire, they reportedly show that previous tax returns were forged.

The press reports bad news as well as good news. But if the source’s previous claim turns out to be false, the press will report it with heightened pathos, and the public will pounce on it. In this case, the shares in the buyer company since the announcement took a significant drop. Observers speculate that the buying company may drop the deal and even sue based on previous sales stories that look as inflated as the founder’s plump lips. (As preliminary information, Jenner revealed in 2018 that she used and then removed artificial fillers, which were widely reported in the media.)

The lessons for entrepreneurs at these events should be clear. Not all attention is good. Not all the press is a good press.

With caution, celebrity status can be great for promoting ideas and products. For example, CBS’s famous news anchor in Houston, Dominic Sachs, won two Emmys for coverage, but she also broadcasts her ideas of beauty and fashion in real life on YouTube and Instagram with a million-strong audience. Public reports estimate his income and net worth in millions, but he never disclosed or sold his valuables (nor did he try to impair his value by aggressively trying to “be noticed”).

In any case, honest communication is vital. And putting the interests and needs of your audience and customers first is the perfect approach to getting a meaningful press.

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