How Long Does It Take To Build A 4-Story Building Five Essential Leadership Traits: The Story Of Martha Stewart From Kmart To Macy’s

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Five Essential Leadership Traits: The Story Of Martha Stewart From Kmart To Macy’s

It wasn’t too long ago that Martha Stewart Living Omnimedia (MSLO) seemed doomed to failure. Kmart, its largest outlet for licensed household products, was in Chapter 11 and closed hundreds of stores. Its magazine was challenged by a new upstart competitor from rival Rosie O’Donnell. Major television stations were canceling their daily shows and critics were saying the show would not make it through the season. The Securities and Exchange Commission has ordered the company’s leader to resign. Yet most devastatingly, Martha was sent to prison.

Few gave the homegrown diva’s business much of a chance as sales plummeted, profits plummeted and share prices plunged.

Fast forward to 2007. We don’t see another company on the brink of elimination. The modified daily television program was getting such respectable ratings and advertisers that it was renewed through 2008. A second show, Specializing in Food, can be seen on PBS, and a radio program debuted last week. His single magazine grew into six specialty magazines, each at the top of their genre. In addition to the continued Kmart product line, MSLO has deals to expand its product line to upscale retailer Macy’s and craft-marketer Michael’s. New ventures include furniture and flowers, and even the Martha Stewart housing development.

Most importantly, this now-acclaimed company’s revenue is over 50%.

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Ben Franklin once said, “What happens is not as important as how you react to it.” Despite the unfortunate events, Stewart continued to look to the future. He saw the company as a prosperous entity with tremendous growth and maintained a public persona equal to his vision of success. Never pouting. Always smiling. Martha looked past temporary difficulties and into the distant future.

Things start to turn around for Martha while in prison. He learned that Susan Lynn, then head of Disney/ABC Entertainment, had been fired by ABC brass. Their main complaint about him was that he pinned the network’s recovery on two still-airing shows for which they had little hope: “Lost” and “Desperate Housewives.”

Upon meeting Martha in her West Virginia prison, the two become instant friends. Martha appreciated Line’s 25-year work history and decided she was the right person to lead the company into the future. Lynn took over as MSLO president and would soon receive incredible recognition: Advertising Age would name her “Executive of the Year” and The Wall Street Journal would call her “The Top Woman to Watch in Corporate America.”

Five Essentials of Leadership

Top business leaders like Martha Stewart are known for five essential qualities:

1. Pursue your purpose with passion. Anyone who knows Martha knows MSLO is her purpose in life. Not two breaths are taken without minding his business.

2. Practice tough standards. Not every aspect of a great leader is based on one solid value, but all great leaders have one or more solid values ​​that they focus on. For Martha, her company is all about quality products for an enhanced lifestyle. No one can deny these qualities drive his actions.

3. Lead with your heart as well as your head. Rumors about Martha are true. For the most part, he sees people as a commodity. He doesn’t show a heart for helping the people he works with succeed. Yet it is more of a team success than an individual success.

4. Establish connected relationships. His relationship with Kmart is emblematic of his approach to partnerships. When Kmart filed for bankruptcy, Martha could easily move her products to another retailer. He was loyal and that loyalty was built by helping Kmart emerge from Chapter 11.

5. Demonstrate self-discipline. Martha’s self-discipline is demonstrated by her unwavering focus on her products and consumer needs. Stewart takes very little time for activities unrelated to his MSLO business.

MSLO’s success provides a lesson for all business professionals Whether leading a Fortune 500 company or a single-employee LLC or planning personal or departmental growth, the Five Essentials of Leadership provide a roadmap for the lifestyle and attitudes that lead to success.

* “The Five Essentials of Leadership” from Leadership in the Contemporary World, ©MaxImpact, http://www.getmaximpact.com. (Used with permission).

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