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Lesson #5: A Strong Work Ethic is A Work Essential

Article Overview: Lauren grew up in the Bronx, a far cry from the fashion capital of New York. He never went to fashion school, never graduated from college, and never lived the life of class and luxury. So how did this boy who shared a small bedroom with his two older brothers go on to become not only a billionaire, but also an ambassador for a world he never knew? The answer is that he worked hard for it.

Lesson #5: A Strong Work Ethic is A Work Essential

Lauren grew up in the Bronx, a far cry from the fashion capital of New York. He never went to fashion school, never graduated from college, and never lived the life of class and luxury. So how did this boy who shared a small bedroom with his two older brothers go on to become not only a billionaire, but also an ambassador for a world he never knew? The answer is that he worked hard for it.

“The best thing you can do is go away from this saying, ‘I can do this too,’” says Lauren, “because it’s all possible and I’m living proof.”

Ever since he was a young boy, Lauren was instilled with a strong work ethic. After watching his father work long hours as a house painter to be able to pay the bills, Lauren knew what it was to work – and work hard. “I didn’t play finance as a kid,” recalls Lauren. “I played basketball.” Still, by the time Lauren was in high school, he began his first business venture. While other boys his age were worried about homework and girls, Lauren was thinking about how many ties he would be able to sell that day at school.

After graduating from high school and finding work, Lauren was not content to work the 9-5 lifestyle. He wanted to work even more. He enrolled in City College and began taking night classes in business. He knew that if he was going to succeed in fashion, he was going to need a strong business mindset to do it. So, while many other fashion designers today leave the business up to someone else, Lauren is as hands on as it gets. From managing his brand to marketing his product, Lauren is involved in every step along the way. That is all a result of the time he took to work during the day and go to business classes at night.

Despite never sketching a design, Lauren comes up with the ideas in his head and drives his design team hard until they produce what he wants. Still, Lauren knows that hard work is not always enough.

When his company began to suffer during the recession of the 1990s, Lauren knew that he needed help. No matter how strong his work ethic, he was forced to admit to himself that he could not run things all on his own.

“For 30 years I had run a very successful private company,” recalls Lauren. “We went public at a very high number; then the market changed. And I was in a new game. I was in a world I didn't know. I could control everything else I did. I could work hard. I could run the company, and I had a good team, but they weren't Wall Street savvy.”

As his stock began to sink, Lauren brought on a new team of executives to help him through it. Working hard, he knew, did not mean he had to work alone.

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Article Tags: 1990s, ambassador, basketball, billionaire, business classes, business mindset, business venture, far cry, fashion capital, fashion designers, finance, girls, homework, house painter, lifestyle, living proof, recession, strong work ethic, ties



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