Why I think Mr. Beast is a Business Mastermind
Tuesday, January 5, 2021
Why I Think Mr. Beast is a Business Mastermind
By Stephanie Clouser, Chief Branding Officer of PCA Technology Solutions
My son, Ethan, told me about this 20-year-old YouTube sensation that calls himself “Mr. Beast” about 3 years ago and what he did very much intrigued my marketing brain. Here was this guy, Mr. Beast, who has become well known for his extravagant gift giving and quality content.
He has 46.4 million subscribers on his main channel & 63.1 million combined with a total of 9.3 billion views. Forbes estimates his YouTube brought in $24 million. In case you don’t know a lot about YouTube, this is A LOT, be very impressed!
But why he caught my attention is his business brilliance...Here are 4 business tactics I think can be learned from him:
From the very beginning a lot of that money has been poured back into creating more videos. His average video cost $300,000 to make, and one video cost him $1.2 million (he gave $1 million to a contestant who could keep their hand on a stack of cash for the longest). Instead of taking “his” off the top he put most everything back into what he was creating.... His business.
He loves what he does. He has a staff of 50, many of which are friends. He enjoys who he works with. I often forget how important this point is.
He adapts and grows with his audience. Three years later and my son still watches his channel. In the YouTube world that is VERY hard to do. He started off with videos about counting to 10,000 to videos that have grown into giving away islands.
He diversifies: Recently, he launched a viral burger joint called Mr. Beast Burger. I have read that no business owner should get their revenue stream from just one avenue. That has always stuck with me and at 22, Mr. Beast must have gotten that memo as well.
I know it sounds like I am being a “fan girl” because I am and if he wrote a book on business...I would read it! But for now, in all the crazy of 2020, I will be satisfied with the fun I had working on our “$20 in 2020” marketing campaign that was inspired by him and his work. Watch our Mr. Beast inspired video here!
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