Small business management is not for the faint of heart. When the inevitable struggles, scuffles and setbacks of starting a business get you down, remember that the greatest entrepreneurs of the last century have been where you stand, learned some hard lessons and succeeded. Refer back to this article as needed for advice to put you back on the road toward your business goals.
Mary Kay Ash, Founder of Mary Kay Cosmetics
Tired of working in a male-dominated culture, Mary Kay grabbed $5,000 out of her savings account, hired a handful of independent beauty consultants and opened a tiny store in Dallas in 1963. Today, the late Mary Kay’s business is flourishing world-wide, with hundreds of thousands of beauty consultants and revenue in the billions. There are two tactics that Mary Kay started early on that were instrumental to her success, both involving how she managed people.
First, she started with a strong business plan based on her Christian faith and guided her employees and consultants to prioritize God, family and work, in that order. This business plan was the crux of her leadership philosophy throughout her career and was a consistency her consultants could count on. Second, she created a lucrative incentive program for her consultants that included her famous pink Cadillacs for top sellers. Mary Kay is frequently listed in surveys as a top business to work for. Continue reading