URL:
http://www.entrepreneur.com/magazine/entrepreneur/2003/june/61848.html
As I went into my monthly last-minute "I have nothing to
write about" panic searching for something to say to inspire
you, I read (one of my methods is to pretend I'm not thinking
about a column topic and distract myself with Web surfing) about
someone who has long inspired me. And I can't let the moment
pass without acknowledging her many contributions to the
entrepreneurial world.
Lillian Vernon, founder of the catalog company that bears her
name, just sold her business in mid-April to a private investment
group. While she's not retiring, Vernon is relinquishing daily
control of the business, though she will still be the company's
non-executive chairman as well as spokesperson.
Why am I telling you this? Well, Lillian Vernon is one of a
handful of business owners who can rightfully bear the title
Legendary Entrepreneur. She founded the business literally from her
kitchen 52 years ago. Her initial $2,000 investment (money she
received as wedding presents) grew into a $260 million company.
Vernon has said the highlight of her career was taking her company
public in 1987, when Lillian Vernon became the first firm founded
by a woman to be publicly listed on the American Stock
Exchange.
Obviously, Vernon far surpassed her original goal of
"paying a few household bills." But she's done far
more than that. I'm talking about all the time and energy
Vernon has devoted to helping promote women entrepreneurs. She is
truly a pioneer, opening doors for millions of entrepreneurial
women who have followed in her footsteps. But Vernon also showed
the world that big businesses can be born at a kitchen table, and
that anyone, men or women, whose ideas may seem very
"small" at the start can parlay any concept (in
Vernon's case, personalized purses) into multimillion-dollar
enterprises.
I've met too many people (bankers, marketers, etc.) who
immediately dismiss certain business owners as "too small to
be concerned about." I'm sure Lillian Vernon often
encountered this kind of attitude over the years. That's why
it's important we all realize (and spread the gospel wherever
we go) that entrepreneurs come in all guises. What seems a tiny and
inconsequential "hobby" can grow into a large business.
If you're still on the path to growing your company (and if
you're reading Entrepreneur, I assume you are), take
inspiration from Lillian Vernon, who once said, "I never
thought that I would achieve such success as an immigrant to
America, but I was thankful for the opportunity to achieve my
dreams."
And to better help you continue growing your company, we've
added some new columns to Entrepreneur. In "What's
the Point?" David Newton distills the best academic
research on entrepreneurship into advice you can understand and
use. In "Success
Coach," Romanus Wolter's inspiration and encouragement
will recharge your enthusiasm during even the most difficult
moments of entrepreneurship. And in "Resources" by Steve
Cooper, we spotlight notable Web sites, associations, events and
other tools to help you build your business.
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