25% efficiency. While most people agree that listening is a very important skill, most don’t take the time to improve their own skill set. We might focus on the mechanics such as nodding or eye contact, but a truly good listener goes beyond that. Since the purpose of marketing and advertising is to influence peoples’ perceptions and behavior, good listening should be at the forefront of business skills to master.
Tag: Business
U.S. Presidents Who Started as Entrepreneurs
1. Harry Truman After serving in World War I, Turman opened a men’s clothing store with friend Eddie Johnson upon returning home to Kansas City. It is said that the saying “clothes make the man” could have been coined by Truman. The store was open from 1919 to 1922 but eventually fell victim to the post-war recession. Truman found himself just barely escaping bankruptcy, however, he managed to eventually pay off all his debts.
2. Franklin D. Roosevelt
Roosevelt founded the Roosevelt Warm Springs Institute for Rehabilitation in 1927. As a sufferer of polio, he raised funds to turn a spa into a for-profit healing center for victims of polio. Still operating today, the Warm Springs, the Georgia-based institute serves about 4,000 people with all types of disabilities each year.3. Abraham Lincoln
The only U.S. president to receive a patent, Lincoln invented a device to lift riverboats over sandbars. In 1833, he opened a general store with partner William, Berry. Even though the business folded within a year and Lincoln’s possessions seized by the sheriff, Lincoln didn’t quit. He went on to own a law practice, becoming a symbol of perseverance, for his resilience even in hard times.4. Warren G. Harding
In 1884, when Harding was 19, he and several partners purchased a small, struggling newspaper in Ohio called The Marion Star. The newspaper became quite profitable, thanks to his wife Florence who helped manage the business operations of the newspaper. The newspaper eventually provided Harding with the income needed to fund his campaigns for public office.5. Herbert Hoover
Hoover launched his own mine engineering business in 1908. His company employed 175,000 workers and specialized in reorganizing failing companies, as well as sought new mining prospects and finding investors to pay for developing the best mines.6. Jimmy Carter
After Carter’s father died in 1953, the family farm was in danger of being lost. Carter ended up leaving the Navy that same year and returned to Plains, GA to run the peanut farm. With hard work and dedication, he eventually expanded the Golden Peanut Company by 1959, into an international business with multiple warehouses and a peanut-shelling plant.7. George Bush
In 1951, Bush started the Bush-Overby Oil Development company with his neighbor John Overby, after graduating Yale. By 1953, Bush-Overby had merged with another independent oil company to form Zapata Petroleum, which would later make him a millionaire. By 1959, Bush moved to Houston to become the president of Zapata Offshore. ]]>Q&A with MPW CEO Natalie Hale
Media Partners Worldwide, a women-owned business, was founded in 1997, by Natalie Hale and a small team of radio veterans working out of a garage. In honor of the 20th anniversary of Media Partners Worldwide, we asked Natalie to answer a few questions about entrepreneurship and starting a successful business on her own.
1. What three pieces of advice would you give to those who want to become entrepreneurs?
Don’t give up on having a family or put it aside too long. You can still have children and run a company. It just takes coordination with your partner. Sacrifices will be made, but it is worth having the fulfillment of a family and having your own business. One of my biggest regrets is putting a family on hold and thinking that it was selfish or impossible to do both. Through the years, I have met many successful female entrepreneurs that manage to do both and make it work! Don’t think that you have to have a lot of capital to get started. I started with some money in the bank, however, I really didn’t need it and was, fortunately, able to have immediate cash flow. You just have to think smaller at first and know that if you don’t have capital you can still have your own business. Although it will grow more slowly and not have all the bells and whistles at first, you can still succeed. Get a support group to help you. Without my ex-husband who was a mentor to me in business, I would not have been brave enough to move forward. After being in business for a few years, I got involved with some different CEO groups that helped me with different ideas and problems. These groups were invaluable and helped me so much with all the different decisions. From employee legal decisions, motivating and keeping employees, balancing and figuring out my profit and loss, to dealing with the everyday emotional struggles that can come up day to day, I learned so much from my CEO groups. I recommend that all entrepreneurs try to join a good group asap. It will help you make fewer mistakes, feel more confident and grow your business quicker with this invaluable support group.2. What inspired you to start a new business venture? How did the idea for your business come about?
After working for CBS for almost 10 years, I was getting burnt out with the corporate stress and changes. I decided to take a break and do my own thing temporarily, while I figured out what I wanted to do. A client asked me to develop and place a NATIONAL radio campaign with 20k per week budget. Luckily, it successfully took off and that was the beginning of my business. I never worried about looking for a job again. I remember I agonized about the name of the company. I wanted it to sound bigger than life!3. What sacrifices have you had to make to be a successful entrepreneur?
I sacrificed not having a child of my own for a long time. I was terrified that if I had a baby, everything would fall apart and that I would not be able to manage my business. It was when I was 40, that I finally accepted that with the help of my partner, I could really do both.4. If you had the chance to start your career over again, what would you do differently?
Probably would have done more traveling when I was younger, and more networking in college. Many of my old college associates became entrepreneurs and I wish I would have kept better in touch with them, as there might have been more synergy and support to work together, Also, I do wish I would have gone to school and earned my MBA right after earning my BA. Running my company for 20 years, I feel like I have been through a rigorous MBA program now, but it would have been helpful and given me more confidence to grow the business bigger and more quickly if I had that structured information sooner.]]>Q&A with MPW CEO Natalie Hale
Media Partners Worldwide, a women-owned business, was founded in 1997, by Natalie Hale and a small team of radio veterans working out of a garage. In honor of the 20th anniversary of Media Partners Worldwide, we asked Natalie to answer a few questions about entrepreneurship and starting a successful business on her own.