Kylie isn't a Billionaire but you want to be: How to get there without embellishing

In the midst of absolute tragedy of course there's a Kardashian scandal but one that I don't think they're too proud of. Forbes reported that Kylie Jenner isn't actually a Billionaire and forged tax returns to appear as such.

Apparently the youngest Jenner-Kardashian was under 900 million mark and those earnings included Keeping Kardashian money, Kylie cosmetics as well as other endeavors. An estimated 300 million were her earnings from her cosmetic brand and the remaining balance were her other projects. These reports became available when she sold 51% of her company to Coty about last year and an investigation soon occured to verfiy her income. The self-made millionaire was accused of creating tax returns that were fluffed up to attract investors on the Forbes mag. It seems that this urgency developed in order to be the Billionaire she had claimed to be. This is all so silly because the woman is still uber successful but the lie makes you question the whole franchise.

I believe that's what makes the situation so comical but then again as a beauty expert when haven't we oversold? I mean I wouldn't oversell to the IRS but the grandeur affect happens a lot in beauty. But what can we take away from this Kylie scandal and make it useful for beauty entrepreneurs? How can we avoid overselling. ourselves yet still market our talents correctly?

Here's how to avoid overpromising while selling your strengths?

Elevator Pitch

Kylie cosmetics is a brand that pretty much relies on the likelihood of the Kylie Jenner. It's not a bad approach but I myself wouldn't know what that brand embodies nor what is this brand known for. Without Kylie what would the brand be? Hell, who is the brand without her in it? It's not like Too Faced and Estee Lauder- like without The owners of the brand Estee is able to sell the cutesy aesthetic, the inclusivity and their approach on anything trending in makeup.

How to figure out who your brand is?

Whether its for future clients, social media or presentation focus on your elevator pitch. It's a breakdown on a 20sec intro on your product, brand or talents. when doing this you want to focus on what makes you unique, your specialties and how you can supply future clients. Be sure to boost it up with clever adjectives and not lies.

Market yourself to attract investors

Kylie added her Brand to the Forbes list in hopes of attracting Investors. She successfully sold 51% of her company to Coty thanks to that feature. Forbes is a huge finance magazine filled wit the top financiers both within it and their usual readers. By doing this she was able to take the next step with her business.

How can you?

1. You can start local and pitch your beauty skills or products to a boutique that reflects your style. Best part is that its close by and you can use your neighbors for word of mouth.

2. You can take out ads on Facebook & Instagram and be sure to target your demographic for your brand. It's at your finger tips so there's always easy adjustments you can make and you get to choose which picture showcases your work.

3. Create a team: Pair yourself with photographers, models, stylists and hairstylists to create some shoots to demo your work better. You can meet some great talent on any social network and let them know how great it would be on a team. This networking opportunity can lead to more gigs, clients and better opportunities for you and them. Be sure to have the same or great vibes within this group so it stays an ongoing project.

Tax Records

Okay, lastly it was rumored that numbers were altered on her taxes to appeal to investors. Also, that her team paid Forbes to call her a 21-year old billionaire.

How can we avoid this issue?

1. For your business to be a separate entity from you its best to file it as an LLC or INC please research on which suits you best. These two options will separate your finances from who you are so if the business tanks (God forbid) you won't lose your personal income.

2. Also, make a separate bank account that best reflects your business' income. You want to keep records of where the purchases are going and keep it separate from your personal one. Research all banks that provide the best benefits and have a decent minimum balance.

3. Keeping track of where your finances are going will help you have a head start on your growth. You can do this by: note taking, keeping your receipts of all expenses or having quickbooks. All so you can have a better pay out when tax season rolls in.