Mary Kay Ash v. Estée Lauder- Cosmetics
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The Life Leading up to Mary Kay's Success

The Life Leading up to Mary Kay's Success | Mary Kay Ash v. Estée Lauder- Cosmetics | Scoop.it

http://www.biography.com/people/mary-kay-ash-197044

Allison Kay Johnson's insight:

Mary Kathlyn Ash is the founder of Mary Kay Ash cosmetics.  She was born in Hot Wells, Texas on May 12, 1918.  She was the daughter of Edward and Lula Wagner and was the youngest of four children.  She had the responsibility of cooking, cleaning, and caring for her siblings while her father was sick with tuberculosis and while her mother was working long hours managing a restaurant.  She did really well in school, but because of lack of money, her family couldn't send her to college.  Mary Kay was married by seventeen and later on had three children.  Mary Kay started out in 1939 working as a salesperson for Stanley Home Products, but because she excelled at this job, by 1952 World Gifts made her part of their team.  Mary spent more than ten years at this company, but realized that men were constantly being promoted and these men were being trained by her personally.  At age fourty-five, Mary was set on creating her own business.  She had an investment of $5,000.00 in 1963, and with the help of her son, Richard Rogers, they opened a store in Dallas which employed nine salespeople.  As of today Mary Kay Inc. employes more than 1.6 million salespeople.

 

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Anything but Average

Anything but Average | Mary Kay Ash v. Estée Lauder- Cosmetics | Scoop.it

http://www.marykayfoundation.org/Pages/Home.aspx

Allison Kay Johnson's insight:

Mary Kay Ash has an abundance of character traits that set her apart from the average lady.  Mary Kay has always been known to give back to her community.  The Mary Kay Foundation is a prime example of this.  Even after she passed away on Thanksgiving day of 2001, her foundation that she created in 1996 still lives on.  This foundation has donated $25 million dollars to organizations that help fight cancers and help fight against the violence of women.  

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Similarities of the Two

Similarities of the Two | Mary Kay Ash v. Estée Lauder- Cosmetics | Scoop.it

http://elccareers.com.au/index.php/working/detail/community_involvement

Allison Kay Johnson's insight:

Mary Kay has always loved giving back to her community and the biggest way she did this was by creating the Mary Kay Foundation; her foundation that she created in 1996 still lives on past her death.  This foundation has donated $25 million dollars to organizations that help fight cancers and help fight against the violence of women.  This is very similar to Estée Lauder in that she also loved to give back to her community through foundations such as the Breast Cancer and Aids foundations.  She has donated money to fund their researches to further their advances in finding a cure.  Both Mary Kay and Estée grew up fairly poor having to work for what they wanted.  Neither one of them went to college, but expanded their knowledges by working for experience.

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The Mary Kay Foundation: Benefiting society

Today, The Mary Kay Foundation helps carry on Mary Kay’s legacy with its unified mission to find a cure for cancers that affect women and to end domestic violence.
Allison Kay Johnson's insight:

One of the biggest impacts that Mary Kay has made was donating $15 million, which would be spread out $1 million per year for 15 years to the foundation.  This doesn't even include all of the other programs Mary Kay and the foundation supports through donations. The latest donation recorded was in 2011 and they granted 150 domestic violence shelters $20,000 each, equaling a total of $3 million. The foundation doesn't benefit the society all directly, but rather in small portions dealing with cancer and domestic abuse.

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Successful Business/Entrepreneur today?

When it comes to research on entrepreneurship, few organizations do more of it than the Kauffman Foundation. For a  just-released study called Making a
Allison Kay Johnson's insight:

Having work experiences prior to starting a business is one really important success factor especially in today's society.  This doesn't mean that people with no work experience shouldn't become entrepreneurs, just that they need to realize that they need to take it 100% seriously.  Learning from past failures is another key factor in becoming a successful entrepreneur.  If a person learns from their mistakes and uses that knowledge of what not to do, they will be more likely to succeed.  Knowing people is also a factor.  Along the road, we all need help, and having somebody to help you along the way is a lot easier to do than doing it all on your own.  Being willing to step out of your comfort zone and have the ability to take risks is the main thing a person needs to be able to do, in order to become a successful entrepreneur.  

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Mary Kay Ash Cosmetics: Continues to stand today

Allison Kay Johnson's insight:

Mary Kay Ash continues to stand today, while being owned and operated by her son, Richard, who she had help her begin the business.  Mary Kay Cosmetics is a Fortune 500 company that has more than $1.5 billion in retail sales each year.  The Ash family net worth is more than roughly $325 million.  Making her family amoung the richest in the world as well.  

 
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Behind The Scenes of Estée Lauder

Behind The Scenes of Estée Lauder | Mary Kay Ash v. Estée Lauder- Cosmetics | Scoop.it

http://www.biography.com/people/est%C3%A9e-lauder-9374625

Allison Kay Johnson's insight:

Estée Lauder was the cofounder, along with her husband, Joseph Lauder of Estée Lauder Cosmetics. She was born with the name Josephine Esther Mentzer on July 1, 1906 in New York.  She was the daughter of Rose Schotz Rosenthal and Max Mentzer, making her the second oldest child out of eight siblings.  She eventually attended Newton High School in New York, but most of her childhood was spent trying to make ends meat for the family.  Her family owned a hardware store, so her and her eight siblings spent a lot of their time helping out.  It was there that she got her first experience in business, entrepreneurship, and what it could take to be a successful retailer.  When she got older she started to help her uncle who was a chemist making creams, lotions, fragrances, and other beauty goods.  She had a greater interest in her uncle's business over her father's and focused on that after she graduated high school.  She started to sell her uncle's products to her friends and getting the name out there.  Estée was at a beauty parlor getting her hair done when the salon owner asked her how her skin was so perfect.  She started telling her about her uncle's products that she uses and the owner was so impressed that she requested that they sell it at her shop.  It was then in 1935 that the Esteé Lauder company was created.

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What makes Estée successful?

What makes Estée successful? | Mary Kay Ash v. Estée Lauder- Cosmetics | Scoop.it

http://www.famous-women-and-beauty.com/estee-lauder-biography.html

Allison Kay Johnson's insight:

Estée presents herself as very confident in the way she does business.  She made a comment, "I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell it hard." This just goes to show that she is determined to do something when her mind is set on something. 

 

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Difference between the two

Difference between the two | Mary Kay Ash v. Estée Lauder- Cosmetics | Scoop.it

http://www.marykay.com/en-US/TipsAndTrends/Trend/Pages/Zen-in-Bloom-Collection.aspx?cid=hero_hp_zeninbloom

Allison Kay Johnson's insight:

Because these two companies have big names and huge companies, their products are going to be more than your average price.  Estèe Lauder's products are a little bit more costly compared to Mary Kay, which is the main difference between the two.  For example, face powder from Estée Lauder's collection will run you $36 online, while a similiar face powder from Mary Kay's collection will only run you $16 online.

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Estée Lauder Foundation: Benefiting society

http://www.elcompanies.com/Pages/Supplier-Relations.aspx

http://www.elcompanies.com/Pages/Animal-Testing-Statement.aspx ;

Allison Kay Johnson's insight:

Estée Lauder's company expects their suppliers to obide by the local regulations of the company and the national laws, which have to do with minimum wages, O.T., hiring and occupational safety.  The company has a supplier code of conduct that they make the suppliers follow as an outline.    They also impact society by committing to eliminate animal testing completely on all cosmetic product and ingredients used in products around the world.  They were on of the first cosmetic companies that proved that safety regulations can be done without the animal testing methods most use.  They encourage other companies around the world to find alternatives to animal testing.

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Successful Business/Entrepreneur: Then

Allison Kay Johnson's insight:

In the 50's people had to deal with WW2 and the aftermath of it.  This made running a business harder than today.  This time was an uneventful period and shows why the economy didn't experience any breakthroughs. Because more people were struggling with entrepreneurship, they had to be a little more innovative than we are today.  Today we can create a product or service and make people want to have it through the mainstream media.  Then it was a bit harder because most families didn't have a television, due to it being so brand new, so it was harder to advertise.  Businesses had to adjust to what was being dished out from the war and try to work around it.  The main population was shifting though from the country to the city and eventually into suburbs.  This was a chance for businesses to excell by having a large group of people in a similar area.  This made more room for advertising.

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Estée Lauder Cosmetics: Still standing today

http://www.elcompanies.com/Pages/The-Lauder-Family.aspx

http://www.elcompanies.com/Pages/Fact-Sheet.aspx ;

Allison Kay Johnson's insight:

Esteé Lauder's company is still standing today.  After her retirement, her children and grandchildren took over the standing company.  She later died in 2004 at the age of 97.  With a quote: "I believe that potential is unlimited-success depends on daring to act on dreams."  Her company is worth an amazing $9.7 Billion.  The estimated net earnings of Estée Lauder was an outstanding $856.9 Million total.  The estimated net worth of her whole family is $5.1 Billion, which would rank them amoung the top 300 richest people in the world.

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