The announcement that Kim Kardashian would be speaking at WEBfest was big news in the Domain Investing world. I have been following Kim for years and have always been impressed with some of the incredibly entrepreneurial and innovative moves she has made. From starting a successful eBay store in her late teens to making game changing startups like Shoe Dazzle happen, Kim is much more business savvy than I think most people give her credit for.
Since I know there are many people who couldn’t attend the conference I wanted to share some of the highlights from the keynote:
- Started an eBay store in her late teens. Kim initially had an idea to resell shoes on eBay. She asked her Dad if she could borrow money to buy ten pairs of shoes to resell on eBay. As a tough lawyer he made her sign a contract agreeing to pay him back within 30 days. She ended up selling 10 pairs of shoes she bought for $700 for $2,500/pair.
- Once she realized that she could run an eBay business she began selling her friend’s clothes and the business scaled immensely.
- Now she holds monthly auctions on eBay for her own clothes and her sister’s collections.
- Kim’s blog was what first really inspired her to engage with her community, she always enjoyed responding to comments and keeping an active dialog going with her readers.
- Twitter helped her do this even more by giving quicker and easier access to her fans. Right now Kim is the #10 most followed person on Twitter. For anyone thinking this is easy and comes with fame that’s just not true, you have to hustle like crazy to become #10, period.
- Kim is often approached to help endorse or invest in businesses, she says that it is so important to only partner with products that you would use yourself. Kim has also found that great ideas are only as powerful as the team behind them. She has learned that the team is so important to evaluate before investing in any idea.
- One of Kim’s favorite new services is Keek a new social video sharing service. One of her favorite videos is one that her sister took of her brother Rob singing in the kitchen. Social video is growing like crazy from Keek to Vine this is definitely a new frontier and people like Kim are definitely great early adopters of social technologies.
- When asked if Kim considers herself a risk-taker she said she find herself somewhere in the middle. She is a bit more conservative when investing into
- Kim had some good advice for building online businesses – you need an amazing team and it takes a long time to create that team. “It is the team that’s around you that can execute your vision.”
- “I like to have people that are a little bit smarter than me around me because I learn so much from them.”
- When asked “How do you want to be remembered?” Kim said, “I just want to be remembered as a good kind person.”
- Kim’s dream in life has always been to start a clothing line and it’s fun because she can build the business with her sisters. They are able to do so much because they split up the roles, it gives each of them the chance to contribute to different parts of the business.
- Kim is just about to launch her 6th fragrance. She loves creating the scent, designing the bottle and coming up with the ad campaigns. She is really into the whole creative process that goes into making a fragrance.
One of the best keynote’s I’ve seen at WEBfest/DOMAINfest. As always feel free to share your thoughts, comment and let your voice be heard!