HOW TO: learn about business from martha
I found this great article written by Christy Petterson on www.getcrafty.com. We are not as familiar with Martha Stewart in Australia, however her advice is valuable.
So I hear Martha Stewart’s Apprentice wasn’t such a hit. I didn’t watch it. Instead I decided to read her latest book “The Martha Rules: 10 ESSENTIALS FOR ACHIEVING SUCCESS AS YOU START, BUILD OR MANAGE A BUSINESS.” Martha, herself, gets mixed reviews. Some crafty girls like her and some don’t. I like her, I think she’s brought the art, skill and intellect of making a nice home into the forefront of our culture, which often dismisses homemaking as insignificant, easy and a waste of time. Turning these matters into a business makes it all the more impressive to me. So when my boss at my “real” job offered to loan me Martha’s book on essentials for running a business, I took her up on it.
I know many of us are interested in turning our love of craft into a business and we also need guidance so I thought I’d share Martha’s rules with everyone here. Even if you don’t like her this advice is sound and I’m saving you from having to read her book. If you do like her, read this and then go read the book,her stories are real, funny and easy to relate to. She shares antidotes from her own experience as well as other successful entrepreneurs. This is part one of a two part look at Martha’s rules.
Rule #1: What’s passion got to do with it? Build your business success around something that you love, something that is inherently and endlessly interesting to you.
Those of us interested in creating a crafty business have already found this passion and would probably agree with Martha when she states, Doing work that you enjoy gives you energy. Martha started out knowing that she loved to cook and from this developed her catering business which led to a book on entertaining and so on and so on. When you love what you do, she says, it’s not work.
She advises finding a mentor who will be honest with you. Having a mentor who only gives you positive feedback will stunt your growth. It is helpful to have someone who can tell you when an idea needs further development or isn’t based in reality.
Rule #2: Ask yourself, what’s the big idea? Focus your attention and creativity on basic things, things that people need and want. Then look for ways to enlarge, improve, and enhance your big idea.
Martha suggests that every business person take a walk in their customers shoes in order to come up with your big idea. Take time to brainstorm, compile lists of ideas, scrutinize and analyze your idea and assess it from many different perspectives including geography, affordability and expandability.
Rule #3: Get a telescope, a wide-angle lens, and a microscope. Create a business plan that allows you to stay true to your big idea but helps you focus on the details. Then remain flexible enough to zoom in or out on the vital aspects of your enterprise as your business grows.
The telescope, wide-angle lens and microscope are all essential for business success. With the telescope you should keep in mind where you are going and what the future holds. With the wide-angle lens you should evaluate the broad picture of operating your business. And with the microscope you will look at the finest details of your business.
A word to the wise: you must write a business plan.
Rule #4: Teach so you can learn. By sharing your knowledge about your product or service with your customers, you create a deep connection that will help you learn how best to build and manage your business.
Customers respond best to business people who create a good experience for the customer and make it clear that they truly want their customer to have a good experience. You need them to view you and your business as their primary resource, their refuge, their reliable provider of information, products, entertainment, or inspiration, says Martha.
Rule #5: All dressed up and ready to grow. Use smart, cost-effective promotional techniques that will arrest the eye, tug at the heart, and convey what is unique and special about your business or service.
Your product has to stand out and you have to make this happen through packaging, advertising, publicity or some combination of all three. Make sure you find a way to distinguish your product from its market competitors. I have found, says Martha, that the two most important elements in your promotional strategy should be creativity and common sense. A successful business absolutely needs both.
This is just a smattering of the helpful hints in the first half of this book. Helpful hints are like gold for the young and ambitious. I hope this will help everyone’s business savvy!
Christy Petterson lives in Atlanta where she writes, sews, works in PR, organizes crafty events, roadies for her drummer-of-a-husband, eats the yummy food he cooks her, drinks coffee, goes for walks and spends time with her friends and family. Her latest exciting news is that That’s Clever is coming to film her this month! And there are just a few weeks left to apply for the Indie Craft Experience…. www.ice-atlanta.com
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