Friday, October 23, 2009

HAUTREPRENEUR HOUR: HOW THEY DID IT? LEARN FROM THOSE WHO KNOW...MIKE EPPS is HAUTE!



In New York in the excessive 1980s, Bobbi Brown made it big by pushing moderation. She became makeup artist to the stars by introducing a palette of natural hues--and along the way became a star herself, with her name on a global brand.

How I Did It: Bobbi Brown, Founder and CEO, Bobbi Brown Cosmetics


Bobbi Brown on Start-up Life (CLICK TO VIEW SOURCE)
YOU CAN READ IT HERE OR GO TO INC.COM TO READ THE ENTIRE STORY. 
As told to Athena Schindelheim
Bobbi Brown became a name in the cosmetics business by pushing moderation. In the 1980s, when look-at-me colors, stark contours, and shiny red lips were in fashion, Brown designed cosmetics to highlight a woman's natural look. She had moved to New York City in 1980 with a degree in theatrical makeup and a beginner's portfolio. Before the decade was done, she'd hustled her way from freelance makeup artist at magazine shoots to product designer with her name behind a global brand. In 1995,Estée Lauder (NYSE:EL) bought Bobbi Brown Cosmetics(the sale price wasn't disclosed, but Lauder reported that the $74.5 million it invested that year was principally on the acquisition), and Brown stayed in an active role. After some setbacks, the brand is thriving again. Now 50, Brown recently opened the first freestanding Bobbi Brown retail store, with a makeup artistry school in the back, and is at work on her fifth book.
Being five feet tall, the teeniest of all my friends, made me a little more self-conscious and insecure about the way I look. Makeup was something I could do to make myself look prettier. Like any little girl, my makeup style is the opposite of my mother's. Her's was very '60s, sexy,Twiggy, mod. Mine was very Ali MacGraw in Love Story.
I was never directed in school. Nothing really got my attention. After six months at the University of Wisconsinand a year at the University of Arizona, I came back and I told my mom I wanted to drop out. She said, "Pretend today is your birthday and you could do anything you want." I thought, and I said, "I would love to go toMarshall Field's and play with makeup." She said, "I'm sure somewhere there's a college where you could study theatrical makeup." A friend of my dad's told me aboutEmerson College in Boston. I always say that when I found Emerson, I found myself.
I moved to New York in 1980, a year after I graduated. One of the best things I had going for me was that I was so naive. I never even thought of not being able to do it. Once I unpacked, I looked up makeup in the phone book. Photographers. Modeling agencies. I had a pretty amateurish portfolio of my makeup work from college--which I can't believe I had the guts to show people. Half of the models were myself.
Makeup was really extreme in the '80s--white skin and red lips and contouring. I loved more of the healthy, natural, simple skin. I really think I helped the natural revolution.
Around 1988, I was doing a shoot for Mademoiselle. We went to all of these hip downtown places, and one of them was Kiehl's pharmacy, where I met a chemist. I told him I just hated most of the lipsticks on the market. I wanted it to be creamy and not dry, to stay on a long time, to not have any odor at all, and to be colors that look like lips. He said, "I'll make it for you." I mixed a taupe eye pencil, a blush--there was not a lipstick in there--and I sent the swatch to him. "Brown" is currently in my line and my No. 1 selling lipstick. And that's how we started.
Research didn't interest me. I wanted the texture, the color, and the smell. I thought, "Wow. If I could make a collection of 10 colors, I can't imagine a woman needing any other color." No fuchsia or acid orange, but wearable colors that don't look like they scream when a woman walks into a room.
The beauty editor of Glamour magazine wrote maybe three lines about this thing I was doing, with my phone number. We got bombarded with orders. I guess that's when I needed to get serious and get a partner. Rosalind Landis had hired me a year before, at her PR firm, to talk about how you could use eye shadows. We went out to dinner one night--Roz, her husband, Ken, who was in the cosmetics industry, and my husband, who is a business attorney. It turns out Ken's family had moved to Floridaand bought this house. The weirdest thing: They bought it from my mother. We started the company together with $10,000.
I was at a dinner party and I said to this woman, "What do you do?" She said, "I'm the cosmetics buyer at Bergdorf Goodman." I told her about my lipsticks and she said, "We have to take them." Later they said they couldn't take us. They had too much going on that season. I remember my stomach dropping when I got the message. I was at a photo shoot for Saks and telling the creative directors and art directors about this new line, and they said, "Oh, my God. We want it." I called Bergdorf back and said, "That's too bad, but don't worry, because Saks wants it." Bergdorf called me back 10 minutes later and said, "Uh-uh. We're going to take it." I never even went to the right people at Saks. Now I know, that's called bluffing.
Customers started coming. People said, "You have to do lip pencils. You have to do blush." Magazines were asking me to do shoots where I was actually photographed. I was even being quoted about other things. They started treating makeup artists as celebrities.
Before Lauder came knocking we had two big offers we turned down. When Lauder bought M.A.C. in 1994, I was bummed. Then Frederic Fekkai said Leonard Lauder wanted to meet me. We sat on Leonard's deck overlooking Central Park. He said, "We want to buy you because you are beating us in all the stores, and what you've done is amazing, and you remind me of my mother when she started." He loves an entrepreneur.
I sold the company because Leonard said, "I want you to keep doing what you're doing." He has never moved from that position. At the same time, Roz and I were always 50-50, and it was a struggle. It was a successful relationship, but we butted heads regularly. Lauder brought her in corporately to help work on new acquisitions. And then eventually she left the company.
At Estée Lauder, our business was flat for a while. Things we were doing were being knocked off. They would call knockoffs "Essentially Brown" instead of "Bobbi Brown Essentials." I had lunch with the CEO, Fred Langhammer, who basically said, "There's a problem because you are not setting yourself apart. Blah, blah, blah." I said, "You want to know what I would do? First of all, move out of the GM Building. Move downtown into a cool loft. Put in my head of marketing, Maureen Case, as president. And completely open, change the culture." So we moved to SoHo.
Our products became a little more fun and fresh. Our advertising photographs were more editorial, like we were working for a magazine. A regular brand would never do an advertisement with smashed lipsticks. Now you see it all the time. We were one of the first brands to regularly use black models and show them as brides.
Once we moved downtown, the numbers started vastly improving. We hit half a billion at the end of 2006. For a kid that never got better than a D in math! How did this happen?
My favorite aunt thinks it's really funny that I've become a hero to women, and all I do is tell them to take blush and smear it on their cheeks. She says, "I could have told people that."

Tips from America's Coolest Young Entrepreneurs




Be Nimble

"The landscape no longer changes every two, three, four years like it did in 2002. If you're not quick on your toes, you will miss opportunities."
-- Tristan Harris, Apture


Do Your Homework

Be really clear about the assumptions you're making about the business you're going into, and check those assumptions as quickly as you can -- whether it's building a prototype and testing it with people, or just talking to other people in the industry.
-- Can Sar, Apture
Stay Genuine
Do what you know… and love! It will resonate with your customers, employees, and potential investors. And make all the hard work worthwhile.
- Susan Gregg Koger, ModCloth
Send In The Geeks 

Starting with a highly technical founding team is the key to being a flexible web technology company."
-- Michael Seibel, Justin.TVAI
Don't be Afraid
 If you have an idea, do it. When you're in your 20s or 30s, that's the time where you can be aggressive and be a risk-taker. That's the beauty of youth."
-- Michael Nardy, Electronic Payments
Do What You Love

"It's a common saying, but vitally important. The more you enjoy your job, the easier it is to work, and that's important, especially when starting up your own company. You will be amazed at the amount of time and energy it will take to make your company successful."
-- Jamail Larkins, Ascension Aircraft


You Can't Mask Mediocrity


Steve Martin said it best. Be undeniably good. No marketing effort or social media buzzword can be a substitute for that."
-- Anthony Volodkin, Hype Machine



Be Prepared

"Educate yourself on whatever you're going into. If you don't know what you're doing, people will take advantage of you. Exercise your right to negotiate, especially as a woman; don't be afraid to walk away from an opportunity that you don't think is right for you; and be realistic about your budget. Figure out how much you need to save and then try to keep yourself on a strict budget."
-- Kyle Smitley, Barley & Birch



Don't Go It Alone

"Surround yourself with an awesome team because you're going to need them to overcome all the obstacles that come with starting a company. Lots of people have great ideas that they try to tackle by themselves, but I think it's almost impossible to do everything by yourself."
-- Emily Olson, Foodzie



Do More With Less

"That is something we've definitely exemplified. When you have limited resources, you constantly have to be really creative about the way you can make things work."
-- Morgan Newman, IdeaPaint



Exceed Expectations



"We knew we only had one shot at this, so there was nothing throughout our start-up that we didn't purposely over-deliver on -- from the way we pitched our distributors and investors to the way we rolled out in the market. If you always over-deliver, it is going to draw attention and you will likely be successful."
-- Jeff Avallon, IdeaPaint



Ditch Your Safety Net

"As a senior at Babson, I lined up a job at Goldman Sachs. I thought I was pretty smart since this would give me a backup if IdeaPaint wasn't working out. Looking back now, I realized that having that in hand was a reason not to push harder and higher. The day before the job started, I told them I wanted to pursue IdeaPaint. They thought I was crazy, but I think it has worked out pretty well."
-- John Goscha, IdeaPaint



Simplify Your Mission

"I would encourage other entrepreneurs to spend a lot of time boiling down what their business is, what it does, and what it represents. If you nail down a 60- to 90-second synopsis, that will pay a lot of dividends throughout the life of your business."
-- Eric Koger, ModCloth'



Stick With It


"Start-ups don't die, they commit suicide. In other words, 90 percent of start-ups fail because the founders get bored, discouraged, or something else, and they move on to other things, not because of some catastrophe. No matter how dark it is today, things will always better tomorrow."
-- Justin Kan, Justin.TV

The Best Industries for Starting a Business Right Now (SOURCE: http://www.inc.com/

iPhone App

Apple launched its App Store last summer, creating a whole new burgeoning industry in the process. Sales of apps in the first month topped $30 million, leading Steve Jobs to predict that the marketplace would be worth $1 billion some day. To date, companies have produced more than 30,000 applications, ranging from games such as Tap Tap Revenge to apartment-hunting help to tools for finding out the name of a song; in all, Apple has processed more than a billion downloads. To capitalize on the trend, venture-capital firms such as Kleiner Perkins have begun investing in app producers; the venerable Sand Hill Road firm has earmarked $100 million for the market.
Yoga Products and Services

Amid a recession, are we getting more in tune with our inner spirit? Perhaps. Americans spent $5.7 billion on yoga products, equipment, and clothing in 2008--87 percent more than they did in 2004, according to a study from Yoga Journal. Nearly 14 million Americans say a doctor or therapist has recommended yoga to them. And as the industry continues to expand, there is ample room for new products. One promising opportunity: creating appealing men's yoga apparel
Fast-Casual Dining




This year might be the worst ever for the food-service industry as a whole, but the emerging fast-casual segment -- which falls between fast food and full-serve restaurants -- continues to shine. Sales for the top 100 fast-casual restaurant chains grew by nearly 11 percent in 2008, to $16.7 billion, according to Technomic, a Chicago-based restaurant industry research and consulting firm. Panera Bread led the segment with $2.6 billion in sales in 2008, representing 16 percent growth, while Chipotle Mexican Grill totaled $1.3 billion in revenue, good for a nearly 21 percent growth. For those without the capital to start a restaurant, food industry watchers are seeing a growing trend in food trucks, with those that offer one type of food -- tacos, waffles, and even Korean barbecue -- all the rage on the streets of major cities.



Niche Consulting








MIKE EPPS ON CHELSEA LATELY....LOVE HIM~





























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