Welcome to Martha Stewart 101, It's a Good Thing.
As the final project for my business communications class, we were tasked with doing a power point presentation of either a famous person or a successful business. I figured Martha Stewart would take care of two birds with one stone, so to speak.
Yes, that's me presenting Martha 101
If you felt you knew Martha, perhaps you might learn a little something new. Here's my presentation:
The old axiom, from little acorns mighty oaks do grow, could be applied to a girl who grew up in the working class neighborhood of Nutley, New Jersey. Born August 3, 1941, one of five siblings, Martha Stewart‘s net worth today is valued at 638 million dollars by Forbes magazine. Stewart has had more influence on how Americans eat, entertain and decorate their homes and gardens than any one person in our history.
Gorgeous photo of Martha and her mom by Annie Leibowitz
Stewart is more than a domestic diva; she is a media mogul with a publicly traded company, Martha Stewart Living Omnimedia (MSLO). Stewart oversees an empire that includes publishing (magazines and books), broadcasting (TV programs, satellite radio), Internet, and merchandising. She controls about 50% of MSLO's stock and about 90% of voting stock.
A lot of unflattering things have been said about Stewart through the years but here are the basics of how this young girl managed to elevate the domestic arts to a 638 million dollar business.
9-year old Martha
While still in high school, Martha Stewart began a successful modeling career while continuing to excel in extracurricular activities like the school newspaper and art club. With straight A’s, Stewart was awarded a partial scholarship to Barnard College in New York. Stewart left Barnard briefly but returned to graduate with a double major in History and Architectural History. It was while she was in New York that she met and married Andrew Stewart in 1961 and in 1965 their daughter Alexis was born.
Model Martha
In 1967, she became a successful stockbroker but left the profession in 1973 to spend more time with her daughter and restore her new home in Connecticut. Stewart and her husband undertook a massive restoration of the historic 1805 farmhouse on Turkey Hill Road which would eventually serve as the set of the Martha Stewart Living television program.
With Norma Collier, a friend from her modeling days, Stewart began a successful catering business in her basement on Turkey Hill in 1976. Although their catering enterprise flourished, their business and personal relationship soured and Stewart bought out Collier’s portion of the business.
With Norma Collier, a friend from her modeling days, Stewart began a successful catering business in her basement on Turkey Hill in 1976. Although their catering enterprise flourished, their business and personal relationship soured and Stewart bought out Collier’s portion of the business.
Martha in her Turkey Hill kitchen during her catering days
Meanwhile, through her husband who had become the president of a prominent New York City publisher, Stewart catered a book release party. It was there she was introduced to Alan Mirken head of Crown Publishing. Impressed by Stewart’s talent, Mirken contacted her to develop a cookbook which eventually became Entertaining, a New York Times best seller and the first of many books by Stewart.
Martha's first book and first best seller, Entertaining
It’s at this point that Stewart’s star begins its rise to stellar heights as she starts attracting a national audience. Unfortunately, Stewart’s marriage was not able to survive her growing celebrity and the couple divorced in 1989. Business opportunities happened in quick succession:· 1990 Stewart begins a weekly half hour television show
· 1993 debuts Martha Stewart Living magazine to coincide with her show
· 1997 Martha Stewart Everyday begins selling products in Kmart
· 1999 MSLO goes public on the NY Stock Exchange
· 2004 finds Stewart convicted of insider stock trading
· 2005 launches the return of Stewart’s highly publicized comeback and return to television
· 2006 Stewart’s daily show is nominated for six emmys
· 2007 Stewart launches an upscale line of housewares for Macy’s
· 2010 MSLO begins its alignment with Home Depot
Emeril Lagasse and Martha on the Martha Stewart Show
Stewart has shown persistence and good humor over the years in the face of the criticism and satire that are the inevitable with public figures. She showed extreme fortitude with the investigation into insider trading in 2003. She has maintained her innocence of all charges but a jury found her guilty of misleading federal investigators and obstructing an investigation. Stewart appealed the conviction but spent five months in prison and five months under house arrest.
Re-runs of Martha can be seen on the Fine Living channel
Through hard work and determination, Stewart went about the business of rebuilding her brand to profitability. She did not shy away from the limelight and instead embraced it. Stewart and her company continue to inspire and engage consumers with unique lifestyle content and high-quality products.Francesca and Sharkey, Martha's French Bulldogs
Say what you will about Martha Stewart but this gutsy girl from Nutley, New Jersey rose from relative obscurity to command a multi media empire. Martha Stewart is an instinctual survivor with a firm grasp on what it takes to be successful in life and in business.
