Archive for October 2010

Way Back in Chicago…There Was An Entrepreneur

 

Old Mandel Brothers Department Store Building in Chicago - State & Madison Streets - ca. 1911

This is the story of a great Entrepreneur as presented by Sarah Hand at the YES941 Entrepreneur’s luncheon.

He was the son of a sharecropper farmer, growing up at the beginning of the Great Depression.  He graduated from high school and worked for free for three weeks for a local business man.  The value he provided was such that the man found a way to pay him, although it was not very much.

 He worked and saved all his money and then moved from the farm to Chicago.  He lived at the YMCA and found a job making coffee at a little Greek restaurant.  He would do whatever extra he could for tips; like bussing tables and help the waitresses with whatever they needed.

By the end of the 1930’s he managed all catering, the cafeteria’s executive dining rooms and concessions for a large department store in downtown Chicago called Mandel Brothers.  He was making $1500 a week.  This translates into $21,000 a week  in today’s money! 

Sara ended her great story with a surprise:  “This story was always very important to me, because it is about my grandfather!”

 What can we take away from this presentation?

  • He had no unfair advantage of education or family
  • He did have a willingness to work hard
  • He knew that his biggest paycheck did not go with the week he worked the hardest.
  • He looked for opportunities when others complained about the economy, unemployment, prices and general lack!

 Thank you, Sarah, for sharing your inspiring story.  No doubt, your grandfather has been a great inspiration in your life.

Entrepreneur, Martha Stewart

Martha Stewart is not a character in someone else’s story; Martha Stewart is the lifelong Star of her own show.  She is a big-picture person.  Life is her puzzle and she is quick to identify when a piece is missing or out of place.

Martha Stewart was raised in Nutley, NJ, from a middle-class American family with old fashioned values.  As a child she learned everything in their family home that would later become her marketable skills.  Everything from sewing, to cooking, canning, floral arranging and gardening, she learned from her parents and grandparents.  She was raised in an atmosphere where accomplishment, projects, and activities in the home were valued and praised.  Her parents, being of p\Polish heritage, were tough because they well knew the lessons of going after what one wants in life and they instilled that in Martha.  It was evident in her schoolwork where she excelled in everything, especially journalism and art studies as well as her regular classes.

 Martha was hungry for knowledge and had a very hands-on and practical personality to go with brains and curiosity.  She graduated from Barnard with a double degree, majoring in history and architectural history.  Now the reason this is all-important is that Martha was gathering the pieces of herself that would become the foundation for her business success.  She also happened to be tall and attractive so while in the school newspaper and art club in high school and again in college she began a modeling career in NYC, and also did some televisions commercials.  Can you see how the storm for her success was gathering?  Almost as though she planned it from birth!

Martha said she never asked anyone to do anything she did not know how to do herself.  She was exacting because she knew the right way to do things. She would not accept a job done more poorly than she would do herself.  Her father’s rigorous standards were a natural part of her personality.  There are many other things Martha did during the early years of her career, such as being a successful stockbroker who walked away from the markets to spend more time with her daughter, after several very successful years.  Not one to play by anyone else’s rules, Martha found the SEC ruled financial markets too restrictive for her creative personality.

Leaving the markets, she bought an old farmhouse on Turkey Hill Lane in Connecticut and began to renovate the place that would become the perfect setting for the Martha Stewart Living show and Martha Stewart magazine. Martha has the Midas touch.  The basis for her success is that she is very high energy; she is a hand’s-on creative person.  She takes responsibility for what happens in her life.  She proved that when she took the 5 year prison term and made lemonade out of what must have been the sourest of lemons for a woman used to controlling and managing her own destiny.

Contrary to popular opinion, Martha is a people person and she made herself useful while in prison, leaving a group of admiring friends sad to see her go.  Martha is not only creative, she is present and fully involved in anything she does and she makes no excuses.  She has proven that one can succeed at anything one puts one’s mind to and I am certain that had she determined to be a brain surgeon instead of an expert designer of beautiful lifestyles, she would have been just as successful.

Martha has all the drive, self identity, vision, and willingness to work for what she wants that makes any entrepreneur successful.

 For more information about this famous entrepreneur, visit her website.  http://www.marthastewart.com

 As presented by Alexandra Barrett at the YES941 meeting.

The Social Network 3.0 Technological Race Is On!

Web30

In the world of Entrepreneurs, the term “first-to-market” is huge because everyone is eager to check out the latest and greatest, and likely to become a loyal customer/follower/user.
 
Entrepreneurs, and especially Internet Entrepreneurs, need to know that we are in the middle of a huge Web 3.0 Revolution, and the Social Networks are in a huge scramble to bring their technology to market.  And due to competitiveness, everything is hush, hush and proprietary until one of the giants introduces a new release!  Because technology is moving at lightening speed, any Social Media company that introduces new 3.0 technology is in the catbird’s seat!  And there are so many trends that are part of this evolution that it will take keen vision to pull off the right combination of technology that will attract the masses.
  

Can we imagine how huge this is?

Look at Mark Zuckerberg–what an Entrepreneur–what a success story!  Did he know where he was going when he started Facebook?  He had some ideas, and from there, technology evolved.  Facebook has 500 million users right now.  There are presently 1.5 trillion videos presently on Facebook, and it is forecast that this figure will continue to grow to an estimated 15 trillion videos.  Hello, is this a trend? 

Google obviously has many technologies forthcoming, and one would imagine that Google will compete with its own Social Network.  Chris Lang, Google Social Media expert, forecasts that iGoogle will be the next GoogleMe. 

Twitter is in the process of rolling out its new platform.  Wonder what’s the vision for Twitterverse? 

What an exciting time in the world of internet evolution!  Entrepreneurs, opportunities abound here to learn and grow and help people.  What trends do you recognize, and  what piece of Social Media Technology will you embrace?