The Martha Rules, Part One

I picked this book up in a moment of boredom while doing my stint at the library bookstore last week. Although I have no good reason for it, I’m not a huge fan of Martha Stewart’s. I realize it’s probably a visceral reaction to her huge popularity, which is stupid, but there it is. I am, or was, an anti-Martha.

Imagine my surprise when I loved the book. The complete title is, The Martha Rules: 10 Essentials for Achieving Success as You Start, Build, or Manage a Business. The book is divided into 10 chapters, each illustrating a different rule. Stewart uses a lot of examples from her own journey. I found that a bit self-serving at first glance but then I realized she really does perfectly exemplify the lessons she is trying to teach. She also uses a lot of examples from other businesses and entrepreneurs she has encountered. I’m writing this review in two parts so that I can do it justice. Check back tomorrow for Part Two.

Written in 2005, Stewart relates that while she was in prison she was frequently approached by other inmates who wanted to discuss their business ideas. She gave a talk at the prison on starting a business and wrote the outline for this book while she was confined.

Martha’s Rule #1 is Build your business success around something that you love. Whether you are a baker, a blogger, a landscape designer or a farmer you will be most happy and most likely to succeed if you love what you are doing. Stewart advises to search until you find your passion. She relates how many different jobs she had until she found something about which she was passionate and started her own catering company. “In the freelance world”, says Stewart, “you start every day at zero.” She reminds us how important it is to be aware of all the hard work involved in owning your own business. Stewart shares an anecdote from a friend of hers who owns a plant nursery. He says the shovel and wheelbarrow, not the expensive backhoe, are the most important tools of his trade.

Rule #2 is Focus your attention and creativity on basic things. Things that people need and want. Then look for ways to enlarge, improve and enhance your Big Idea. Stewart advises us to walk in our customer’s shoes for awhile. Ask yourself if there is a place in their lives for your idea. She gives a lot of good examples from different entrepreneurs and businesses including Domino’s Pizza, who obviously did not invent pizza, but revolutionized the pizza delivery model. She lists seven necessities for assessing your business idea including asking yourself if your idea is better than the alternatives already on the market.

Rule #3 is Create a business plan that allows you to stay true to your Big Idea but helps you focus on the details. Stewart is nothing if not business-like. Unlike someone yearning to own an art gallery who only thinks about wine and cheese openings and hobnobbing with the cultural elite, Stewart wants us to understand, plan and be aware of the nuts and bolts of the business in which we think we want to involve ourselves. Take the time to learn everything about every aspect of your business. Stewart strongly urges “creating a frugal culture” at your workplace. Monitor spending and ensure your employees know you are doing it.

Rule #4 is Teach so you can learn. Stewart says, “by sharing your knowledge about your product or service with your customers, you create a deep connection that will help you learn how best to build and manage your business.” Great advice! People who hoard their knowledge in fear of the competition only limit themselves. Sharing information and getting information in return creates a connection with your customers or clients. Stewart reminds us that when you pay attention to your customers and truly care about them, they will pay attention to and truly care about you in return.

Rule #5 is Use smart, cost-effective promotional techniques that will arrest the eye, tug at the heart, and convey what is unique and special about your business or service. This chapter deals primarily with packaging and advertising your product or business. How many times have you seen an advertisement where you can’t figure out what the product is? Sometimes you can be too clever! Alternatively, no matter what your idea is, there are probably lots of similar ideas, products or businesses on the market and advertising helps your product stand out, so you have to be just clever enough. Positioning is important. Make sure you are advertising your product to your market. Is your stylish tailored leather iPod case going to be purchased by teenagers? Probably not, so don’t advertise to the teenage market. Stewart also discusses publicity, as opposed to advertising, and how to use it appropriately. Don’t forget to share a bit of yourself, which helps your customers make a connection.

Even though I was pre-determined to scoff at it, this book inspired and invigorated me. Check back tomorrow for Rules Six through Ten!