“It’s a quality you’re born with, being an entrepreneur,” says Vernon.
From her kitchen table in the 1950s, Lillian Vernon was able to build a hugely successful direct mail catalog business that continues to thrive more than fifty years later. Her family had lost everything during WWII and was forced to rebuild as immigrants in the U.S. What were the factors that allowed Vernon to become the successful model of entrepreneurship that she is today?
She Preserved an Entrepreneurial Environment: “It’s hard for an entrepreneur to be a great manager…A great entrepreneur and a great manager are usually not the same person,” says Vernon. “The skills are very different. I don't know if I'm a great manager. I think I'm a good manager.” By combining her own skills and risk-taking abilities with those of her tamer manager counterparts, Vernon was able to maintain that entrepreneurial attitude within her company no matter how big it grew.
She Left Her Personal Stamp: From her face lining the covers of her catalogs to personalizing her products, Vernon strove to maintain a personal connection with her company and her customers. By becoming the face behind the brand, people could feel a personal relationship with Vernon, which helped distinguish her from her competitors and create customer loyalty.
She Never Gave Up: From the get go, Vernon had a number of points against her. She was an immigrant and she was a woman – two things that made it extremely difficult for her to break into the business world. But, Vernon believed in herself and she believed in her product. “Toughness is a good thing, yet it is considered good only in men,” she says. “When a woman is tough, men can't stand it. I like being tough. Tough and smart.”
She Prioritized Her Customers: Whether she had 50 customers of 20 million, Vernon made the effort to treat each one like a valued individual. Through excellent customer service, money-back guarantees and product personalization, Vernon ensured that everyone who shopped at her company would come out of the experience a happier person. Because she appreciated them, they kept coming back for more.
She Built Up Gradually: “To start a successful business, you must have a unique product or service that the competition doesn't offer,” advises Vernon. “You should also have enough capital reserved to sustain you through the first few years in business when your emphasis is on building your brand and a customer base.” It was in large part Vernon’s ability to think practically and for the long-term that allowed her to succeed. She was patient and took her time in order to ensure a long life in the industry.
Despite creating one of the most successful companies in U.S. history, Vernon views her biggest success as well as her biggest challenge as the balance she has striven to maintain between her home life and her business life. “I’m on the right course,” she says.
A Mounting Success: How Vernon Reached The Top
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