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Anchor: Are You looking for the perfect recipe for business success? look no further than between the pages of Martha Stewart's latest book the Martha Rules: Ten Essentials for Achieving Success as You Start to Build or Manage a Bussiness. And Martha should know she has got magzines, books, product lines and television shows both daytime and prime time with her name on all of them. Martha ,good morning(HI.) ,welcome back!(Thank you!)You know everybody obviously admires your business, acumen and prowess and what a smart, savvy business woman you are. And obviously you wanted to share the secrets of your success. Right?
Martha: Oh,yes.Finally, I've got to write a book that's not a cook book, not a how-to book about decorating or weddings, not that those are bad. Those are fantastic . But I finally wrote down what I think are very simple practical ways to be successful in an entrepreneurial venture.
Anchor: And I know in the first a few pages of the book, you talk ,Martha about your experience, said that, at the Alderson Federal Prison and I thoght it was so funny instead of picking locks ,they were picking your brain. All those women, they were trying to figure out, you know, ideas so they could be more entrepreneurial(It was so...) which I think it's amazing .(It was so interesting, because...)You were like a de facto business consultant.
Martha: Well,I was. And because in many of these institutions there are no consultants,there are no real teachers there to help these women, whom...some of whom were incarcerated for 20 years.(Right)I mean this is not good. But I was so happy to be able to be of use and be helpful and give advice,(I think it's so great)because their minds are working 24 hours a day just like our minds are working.( And they have a lot of time to think) And they have a lot of time to think and plan for the future. And they should be encouraged to. But this is not just for women in prison.(No,no, obviously it's for all women but some are universal). This book is for, as well as for men and women who have a good idea , who think that they are entrepreneurial,who really want to build a business, manage a business and grow a business.
Anchor: Let's talk about some of your rules. We don't have time to go through all of them Martha. But one is passion. And that is the number one rule in your book.(right).You have to be passionate about what you're doing . You say, don't confuse enthusiasm with passion.What do you mean?
Martha: Well, I mean that you should really build your business aroud, something that you are inherently passionate about. It's very important that you have a deep-seated interest in what you want to work in. Because otherwise it's just gonna be another job.(It's gonna be drudgery.)Yeah. Well ,it could be. I don't ever say I'm going to work to work.You know .(right)I'm going to work to create. I'm going to work to make a wonderful television program.(and have fun)I'm going out to the garden to garden not to work in the garden.That's passion.
Anchor: And in fact, you've also talked about how frustration can lead to a good idea.For example you were frustrated that you couldn't find a pink collar you were looking for(exactly) ,and so you decided to create your own from chicken eggs I remember reading about that in your magzine Park. Believes and stones vary Martha.
Martha: Yep. But it's true. I mean because I look for what's not there that I need. And if it's not there, it may be the basis for a really good business.I'm sure Bill Gates did that when he started Microsoft. I'm sure the Google guys did that when they started Google. It's looking for the void, filling that void with something useful and needed by many many people.
Anchor: You talk about keeping quality on the pedestal and sometimes quality and mass consumption are (at) odds. Not even mass consumption but profitability, (right)let's say.
Martha: Right. But it's more about the bottom line. And one of the first things to go when you're cutting cost then you're trying to keep your business afloat may be the quality of your big idea. That product that you are so proud of. Don't let the quality go.
Anchor: And You also say take risks not chances. And that brings me to the question. Are you obviously, you are taking a lot of risks right now,are you happy doing everything you have done I mean(Oh, very much so.) in another words do you have any regrets?
Martha: None, I mean none, I mean I went through a period of 2 years of that great difficulty, came back with a passion, with a really guiding light behind me(Right.), trying to focus on making sure that every aspect of our businesses of Martha Stewart Living was great. And I try to get that across in the book.That you really have to focus, you have to be determined ,you have to keep the quality, keep the big idea.Work really hard and have an A(ce) team all around you. All of that is disccussed in this book, which I think will be very useful. You should read it if you, you know.. .
Anchor: Yeah,yeah I could always use a little help in every area of my life .Well, the book is Martha ,the Martha Rules: Ten Essentials for Achieving Success as You Start ,Build or Manage a Business. Martha,as always great to see you! You can read an except on our website by the way.(Excellent!)
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