Mary Kay Ash started Beauty by Mary Kay with $5,000 after being passed over for promotion at other direct-sales companies. She built it into a multi-billion-dollar brand by treating consultants well, breaking down barriers, and staying disciplined with daily task lists.
Chapters
Hi, I'm Evan Carmichael and welcome to another edition of Modeling the Masters. Today we're going to look at one of the most successful women entrepreneurs of all time, Mary Kay Ash.
Mary Kay Ash was an American businesswoman and founder of Mary Kay Cosmetics. Raised in a time when few women were in business, let alone successful in business, Ash broke down barriers on her rise up to creating a multi-billion-dollar operation. Ash's professional career began in the direct sales business. She worked for Stanley Home Products, recruited over 150 women to work for her, and earned a percentage of the products they sold. Her success worried Stanley Home Products executives, so they moved her to Dallas and refused to pay her commissions from her previous results. Ash joined another direct sales company, World Gift Company, where she excelled and again had her efforts penalized when she was demoted after achieving too much too quickly. She chose to resign rather than be demoted. Ash then used her $5,000 life savings to open a cosmetics company, Beauty by Mary Kay. Ash had bought the formula for skincare cream she was using as well as a storefront in Dallas and began hiring friends as independent beauty consultants, her team for salespeople. In its first year, company sales reached $198,000, primarily from sales sessions, or skincare classes, her sales team would hold in private homes. At the time of Ash's death, Mary Kay Cosmetics had over 800,000 representatives in 37 countries with total annual sales of over $2 billion at retail.
So the next question becomes, how can you model the success of Mary Kay Ash? Here are 3 action items that you can put to use in your business today.
Action Item #1: Break down barriers in your way. Starting a business is tough. It can be hard to get customers to believe in a new company, and people will doubt your ability to succeed. At times you might even wonder if you made the right decision, or if you're better off going back and getting a job. Mary Kay Ash was tired of being held back and being told that she was just thinking like a woman. Starting her own business was her chance to reach her full potential. According to Ash, "You cannot keep determined people from success. If you place stumbling blocks in their way, they will use them for stepping stones and climb to new heights." No matter what challenges you come up against, remind yourself of why you started your business and what your vision is. Break big barriers down into small chunks and tackle them one by one until the problem is solved. Whatever you do, don't give up! Action Item #2: Live by the Golden Rule. Whether you're dealing with customers, suppliers, the media, employees, partners, or someone else who can have a meaningful impact on your business, remember that you're dealing with a person, and people like to be recognized and appreciated. Mary Kay Ash's advice is simple: "I've learned to imagine an invisible sign around each person's neck that says, 'Make me feel important.' I never cease to be amazed at how positively people react when they're made to feel important." Everyone wants to be appreciated, so if you appreciate someone, don't keep it a secret. As a business owner, there never seems to be enough time in the day to get everything done, which can often cause us to get stressed out and treat people poorly. Try to remember Mary Kay Ash's rule and make the people around you feel important and appreciated. You'll see far better business results and you'll have a lot more fun as well. Action Item #3: Be enthusiastic. Your business doesn't have to be the most creative or original. What can make the difference between success and failure is your enthusiasm for what you're selling. When you're enthusiastic, you'll be more convincing and you'll have an easier time convincing people to take action. According to Mary Kay, "Nothing great was ever accomplished without enthusiasm." If you act enthusiastic, you become enthusiastic. A mediocre idea that generates enthusiasm will go farther than a great idea that inspires no one. Running a business can be a grind, and sometimes we can lose our enthusiasm for the company. When this happens, remind yourself again why you started the business and try to get excited about the next meeting you're going to have. If others sense how excited you are, they're more likely to be convinced and want to get involved. This in turn will give you more energy and enthusiasm, so don't waste the opportunity.
So remember, break down barriers in your way, live by the golden rule, and be enthusiastic. I wanted to end the video by sharing one of my favorite true stories about Mary Kay Ash.
Every day before Ash went to work, she would make a list of the 6 most important things to do and give herself deadlines to finish each one. In her own words, Ash said, "Over the years, I've observed that nearly all high achievers, know how to make good use of those 1,440 minutes in each day. We must have a theme, a goal, a purpose in our lives. If you don't know where you're aiming, you don't have a goal. An average person with average talents and ambition and average education can outstrip the most brilliant genius in our society if that person has clear, focused goals.
Thank you for joining me for another edition of Modeling the Masters. I'd love to hear your thoughts if you want to leave a comment below. And stay tuned for the next edition.
