Austin Business Journal hosts Martha Stewart for its Face 2 Face series
May 24, 2013
Martha Stewart discusses what it takes to run a successful business.
This year, we’re co-sponsoring several of The Austin Business Journal’s Face 2 Face series. The series, which gives the Austin business community an opportunity to hear the experiences of some of the best small business owners and entrepreneurs in the country, featured serial entrepreneur Martha Stewart in May. Martha Stewart may be seen as an personality who only focuses on lifestyle products and services. But, Stewart has made a number of smart business decisions that have contributed to her success as founder of Martha Stewart Living Omnimedia, creator of several award-winning magazines and a retail queen with her wares sold in several major department stores.
Entrepreneurship began at the early age of 10 for Martha Stewart. She recalled planning birthday parties and babysitting for neighborhood families. She’s always been resourceful and turned to modeling in order to pay for college. Even with her early start, learning to run a business didn’t come natural. She also learned a great deal from her father-in-law and her college studies. Martha Stewart properties now reach millions of people and Stewart remembers that the needs of customers can never be overlooked. Entrepreneurs, even when their companies become as large as Martha Stewart Living Omnimedia, still need to know what type of product they’re putting out and be involved throughout the entire production and sales process.
“It’s important to stay involved. But you also need to think about the longevity of your company and the importance of your brand/company you want to portray. If that means you have to take a step back a little bit, then do so.”
When asked about leadership as an entrepreneur, Stewart said that leaders must always maintain self confidence before others, so the level of respect is always there. Her leadership skills have been invaluable to her company’s success, especially through the years as her company evolved. Stewart shared that evolving as a company is important in order to stay relevant. Everyone within the company should always be well-informed and your company shouldn’t have information silos.
Martha Stewart doesn’t plan on retiring. As a matter-of-fact, she doesn’t think anyone should retire, rather they should do things they love.
Read more about The Austin Business Journal’s Face 2 Face series.