Living the Good Life: Stewart Creates an Empire
Living the Good Life: Stewart Creates an Empire
In 1987, Stewart signed a $5 million advertising and consulting contract with Kmart, becoming the spokesperson for their home department. Three years later, Stewart released another successful book called Weddings. Ironically, it was released on the same day her husband filed for divorce. While her personal life might have been deteriorating, Stewart did not let that stand in the way of her growing success.
Just one year after her divorce, Stewart launched the premiere issue of Martha Stewart Living, her own magazine that focused on the domestic arts. Initially a quarterly magazine, the magazine quickly reached a circulation of 1.3 million and was expanded into a monthly publication. But, Stewart’s most successful venture would come in 1993, when she created a weekly half-hour television show featuring similar homemaking content as her magazine. With Stewart as the host, the show’s popularity soared and it was expanded to a full hour show to be broadcast daily.
The extent of Stewart’s success was obvious in 1995, when New York Magazine declared her “the definitive American woman of our time.” Two years later, she founded Martha Stewart Living Omnimedia (MSLO), which would be the umbrella company to all her business ventures and would give her greater control. In 2000, MSLO went public on the New York Stock Exchange and by the end of the first day, Stewart’s net worth had become an estimated $1.27 billion. Today, the company has over 650 employees and generates revenues of over $200 million.
Stewart continued to enjoy success for another two years, until in 2002, she became involved in a stock scandal. Accused of insider trading, Stewart was found guilty of lying to investigators and was sentenced to five months in minimum-security prison. She resigned as Chairperson and CEO of MSLO and the company suffered with her absence. But, that would not be the end of Stewart.
After serving her time in prison, Stewart was determined to bring her company back from the brink. She refocused her energy on her Martha Stewart Living magazine, expanded her contract with Kmart, launched an interior paint line for Sears, and began to make a comeback on television. In 2005, Stewart teamed up with reality TV icon Mark Burnett to produce Martha, a daytime show much like her previous one, and The Apprentice: Martha Stewart. While her version of The Apprentice achieved little success and was not renewed for a second season, Martha continues to rise in the ratings. Stewart also released a book called The Martha Rules, a guide for entrepreneurs on how to start up and manage a successful business.
Stewart continues to branch out into different avenues, namely real estate, launching a line of houses throughout the US that will be based on her own homes in New York and Maine. She also hosts a weekly call-in radio show on a satellite radio network that MSLO co-owns. One would be hard pressed to find today a medium in which Stewart has not made her presence known.
Living the Good Life Stewart Creates an Empire
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“All the things I love is what my business is all about,” says Stewart. After the success of Entertaining, she continued to pursue her passions through different avenues. Stewart branched out into videotapes, dinner-music CDs, television specials and continued to author books relating to cooking, baking, entertaining, holidays and house restorations. With appearances on television shows such as The Oprah Winfrey Show, Stewart was making both her face and her brand instantly recognizable.
In 1987, Stewart signed a $5 million advertising and consulting contract with Kmart, becoming the spokesperson for their home department. Three years later, Stewart released another successful book called Weddings. Ironically, it was released on the same day her husband filed for divorce. While her personal life might have been deteriorating, Stewart did not let that stand in the way of her growing success.
Just one year after her divorce, Stewart launched the premiere issue of Martha Stewart Living, her own magazine that focused on the domestic arts. Initially a quarterly magazine, the magazine quickly reached a circulation of 1.3 million and was expanded into a monthly publication. But, Stewart’s most successful venture would come in 1993, when she created a weekly half-hour television show featuring similar homemaking content as her magazine. With Stewart as the host, the show’s popularity soared and it was expanded to a full hour show to be broadcast daily.
The extent of Stewart’s success was obvious in 1995, when New York Magazine declared her “the definitive American woman of our time.” Two years later, she founded Martha Stewart Living Omnimedia (MSLO), which would be the umbrella company to all her business ventures and would give her greater control. In 2000, MSLO went public on the New York Stock Exchange and by the end of the first day, Stewart’s net worth had become an estimated $1.27 billion. Today, the company has over 650 employees and generates revenues of over $200 million.
Stewart continued to enjoy success for another two years, until in 2002, she became involved in a stock scandal. Accused of insider trading, Stewart was found guilty of lying to investigators and was sentenced to five months in minimum-security prison. She resigned as Chairperson and CEO of MSLO and the company suffered with her absence. But, that would not be the end of Stewart.
After serving her time in prison, Stewart was determined to bring her company back from the brink. She refocused her energy on her Martha Stewart Living magazine, expanded her contract with Kmart, launched an interior paint line for Sears, and began to make a comeback on television. In 2005, Stewart teamed up with reality TV icon Mark Burnett to produce Martha, a daytime show much like her previous one, and The Apprentice: Martha Stewart. While her version of The Apprentice achieved little success and was not renewed for a second season, Martha continues to rise in the ratings. Stewart also released a book called The Martha Rules, a guide for entrepreneurs on how to start up and manage a successful business.
Stewart continues to branch out into different avenues, namely real estate, launching a line of houses throughout the US that will be based on her own homes in New York and Maine. She also hosts a weekly call-in radio show on a satellite radio network that MSLO co-owns. One would be hard pressed to find today a medium in which Stewart has not made her presence known.
Living the Good Life Stewart Creates an Empire
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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