6 Business Lessons From Martha Stewart

[Charmed]

Dear Covers:

Are there business lessons to be learned from Martha Stewart?

https://msn.careerbuilder.com/Custo...p4296&sc_extcmp=JS_js04_july04_home1?GT1=4550

The six important points mentioned by the author of this piece are:

1. Believe in yourself.
2. Have vision/Seize Opportunity.
3. Focus on your goals.
4. Present yourself with style.
5. Work hard/know your business.
6. Keep your perspective.

The author thinks Martha failed on point 6. If remember even her brother felt (Fox News, interview with Mr. O'Reilly) that she had lost her perspective and seemed to have forgotten who she was and where she came from. According to this author, "Stories abound of her swearing at and berating her staff, refusing to pay vendors – even trying to mow down her neighbors' landscaper in her car! And in the end, she risked her billion dollar empire to save $43,000 in a stock trade.

Any other perspectives?

Charmed

 

[mitsu11]

4. Present Yourself With Style

What goes around comes around. I have been having discussions lately with our Purchasing folks regarding developing mutually beneficial supplier relationships. Yes, direct from the standard, but it is true. If you can work with your vendor rather than demanding of them, they will be more willing to cut you a deal when the opportunity presents. The same thing applies with your employees and customers. Manufacturing some cheap products in sweat shops doesn't go over well with either group. Those things come back to haunt you. Perhaps this applies more to "4. Present yourself with style".

In the past, I always listened to stories of Martha with doubt. The media is said to protray strong women as "ruthless", while men with similar characteristics are "determined". I haven't had personal experience with any women portrayed like this, so I can't verify, but I try to remain objective with all news stories.

As far as this stock deal, I have but one comment. She was convicted, basically, of lying to investigators. Possibly and probably true. (I have no idea about whether she knew she was participating with an insider trade at the time.) Has anyone heard about some of the other stories lately about people accused of doing much worse than that (murder, rape, etc.), and getting no or at least less punishment than to which Martha has been sentenced? I know they will make it a cakewalk for her, but the differences in sentencing are astonishing. Jayson Williams, anyone?

 

[Al Rosen]

What goes around comes around. I have been having discussions lately with our Purchasing folks regarding developing mutually beneficial supplier relationships. Yes, direct from the standard, but it is true. If you can work with your vendor rather than demanding of them, they will be more willing to cut you a deal when the opportunity presents. The same thing applies with your employees and customers. Manufacturing some cheap products in sweat shops doesn't go over well with either group. Those things come back to haunt you. Perhaps this applies more to "4. Present yourself with style".

In the past, I always listened to stories of Martha with doubt. The media is said to protray strong women as "ruthless", while men with similar characteristics are "determined". I haven't had personal experience with any women portrayed like this, so I can't verify, but I try to remain objective with all news stories.

As far as this stock deal, I have but one comment. She was convicted, basically, of lying to investigators. Possibly and probably true. (I have no idea about whether she knew she was participating with an insider trade at the time.) Has anyone heard about some of the other stories lately about people accused of doing much worse than that (murder, rape, etc.), and getting no or at least less punishment than to which Martha has been sentenced? I know they will make it a cakewalk for her, but the differences in sentencing are astonishing. Jayson Williams, anyone?

Didn't some high official in the government lie to a government investigating committee without consequence?

 

[mitsu11]

Need to be More Specific...

Which high government official are you referring to? It could be any of them lately!

(Rhetorical question. I don't want to get into a heated political discussion so close to lunch.)

 

[Al Rosen]

Which high government official are you referring to? It could be any of them lately!

(Rhetorical question. I don't want to get into a heated political discussion so close to lunch.)

My question was also rhetorical. BTW, we didn't have this discussion.