Entrepreneur of the Week: Steve Stoute

The influence that Steve Stoute has impacted on our culture and media is undeniable. If you haven’t heard of Stoute before, we welcome you back from that rock you’ve been under for the last decade. He is the reason that the music industry’s elite, including Justin Timberlake, Beyonce, Lady Gaga and Shawn “Jay-Z” Carter, have been the primary influence behind your most recent purchases.

His clients range McDonalds, Hewlett Packard and L’Oreal, and if you’re still a little unsure whether or not you’ve heard of him — run through any Jay-Z album for the last five years and his name will become instantly recognizable. Steve Stoute is undoubtedly one of the most influential entrepreneurs on our culture of the last decade. By now, we’re sure you’ve come to recognize the magnitude of his influence in the way products are sold to the masses every day.

He is the industry leader for connecting Fortune 500 companies to the youth and urban markets based on the belief that consumers must constantly identify with different perspectives, beliefs and cultures. By enabling these mega brands to stray away from their corporate identities and connect with consumers, he continues to be one of the main reasons that hip hop was able to break into the vein of American culture.

In his book, “The Tanning of America: How Hip-Hop Created a Culture That Changed the Rules of the New Economy,” Stoute offers advice on how businesses can recognize and gear their marketing efforts to what he calls “the tanning of America.”

“Today’s consumers represent a mindset, rather than a race or age. They have the same ‘mental complexion’ based on shared experiences and values,” Stoute said. “This generation has been shaped by hip hop, not just the music, but everything from attitude to apparel.”

Before his life as an accomplished author, marketing genius and legendary executive in the music business Stoute was a Queens, NY raised student at Syracuse. Beyond his academic tenure he began his infamous career in the music industry as a road manager during the early 1990s. Over the next decade Stoute was responsible for some of the most successful artists and top selling albums for Sony and Interscope.

Understanding the monumental progress and influence that hip hop had achieved within the music industry in only a matter of 20 years he decided to focus his attention on marketing endeavors in launching Translation Media alongside his partner Shawn Carter. Stoute is a continues to be a serial entrepreneur with the his expertise in advertising, branding, marketing and consulting for Fortune 500 companies.

Beyond his success in business, Stoute has a great passion for philanthropy and enabling young entrepreneurs to follow in the footsteps of the likes of himself, Jay-Z and Warren Buffett. Alongside his client and friend Mary J Blige, he has co-found the Foundation for the Advancement of Women as well as launching the Mary J. Blige Center for Women in Yonkers, New York.

Steve Stoute’s Tips For Entrepreneurs

The ideologies and goals of your business should evolve as fast as the world does

I encourage businesses to embrace change, to evolve, and become more relevant to this new generation of consumers while staying true to their core brand.

Make spokesperson share your values

Companies need to align themselves with celebrities who have shared values. The most successful relationships come from brands and celebrities who view themselves as true business partners. Many businesses believe a celebrity endorsement adds magic dust to their brand, but this kind of thinking can lead to big advertising mistakes.

Utilize Social Media

Having a social media presence is a good way to raise awareness of your brand and to gain a level of understanding of how consumers feel about your brand. Don’t make the mistake of abusing Facebook, Twitter or YouTube by thinking that success is about who has the highest numbers. You want to use social media to build a relationship with consumers, and obtain a general barometer of what customers think about your products and services.

Set the bar high

I tell young entrepreneurs to use the leader in their industry and as a benchmark as they work to create their own brand. Don’t look at what your competition is doing — if you emulate the leader in your industry you will achieve a higher level of engagement with consumers and make their buying experience richer.

Elite.