There’s a good chance that you or someone you know has bought into the hype surrounding Beats headphones. If not an actual set of headphones, you can probably find a product with Beats audio integrated somewhere close by. Believe it or not, Beats now owns about 70% of the headphones market, and Burt Helm from Inc. magazine recently sat down with the company’s founders to talk about the secrets to their success.
As always, we read articles like this to see if there are any nuggets of wisdom we can apply to our business and share with other small business owners. (Plus we love technology and music.) Beats was cofounded by Interscope records mogul Jimmy Iovine and hip-hop icon Dr. Dre, each of whom possess a certain level of fame and recognition that most small business owners only dream of. This company started from a pretty different place than most of ours. Nevertheless, they’ve had to overcome significant hurdles.
Something that all of us have to face at one point or another (Jimmy Iovine and Dr. Dre included) are critics. Ignoring the naysayers is an important step on the road to success. Skeptics wondered why Beats would propose selling $200 headphones when customers get earbuds for free. Iovine’s response? “Bad audio is free.” He goes on to explain, “When you believe in something, the last thing you say to yourself is, ‘Well, no one’s doing this, so there must be no good reason to do it.'”
There are plenty more great business lessons to be learned from Beats in this article, but ignoring the critics stands out as one of the most important to us. You won’t get very far with a new business or product or service if you listen to the naysayers who want to tell you all the reasons your idea won’t work. There’s a time to get feedback and take constructive criticism about your concept, but there’s also a time to put on your Beats headphones, tune out the critics, and move forward with what you believe in.