Wednesday, November 19, 2008

Money & Business

Alpha Consumer by Kimberly Palmer

Life Lessons from Mary Kay

July 11, 2008 12:38 PM ET | Kimberly Palmer | Permanent Link | Print

Over 20 years after it was originally published, the bestseller The Mary Kay Way is hitting the shelves again, in an updated version. The book outlines the "timeless principles" that Mary Kay Ash used to lead her eponymous cosmetics company. (She died in 2001; the book contains a forward from her grandson.) The book stresses the importance of making other people feel important, listening, following through, and having enthusiasm.

So much of what she says applies as much to the consumer world as it does to the entrepreneurial world. Consider these lessons:

• "Make people feel important. They are." One of the most common mistakes people make when interacting with companies as consumers is being rude to customer service representatives. They forget that the people who answer the phone often hold significant power in how they get treated. By treating them with respect—or, as Ash puts it, making them feel important—consumers are more likely to get what they want, especially when complaining.

Of course, this kind of psychology can also be used against consumers. Ash admits to splurging on pricey Mercury after the salesman bought her a dozen roses because it was her birthday. "The salesman got the sale because he made me feel important," she writes.

• "Sandwich every bit of criticism between two heavy layers of praise." I find that when I'm making serious complaints to companies—when they make a mistake on an order, for example, and I want a refund—it helps to include some positive comments along with the negative. For example, I recently ordered customized T-shirts for my dad's birthday, but they arrived with a typo on them. When I complained, I thanked the company for its speediness but pointed out the error and asked for a refund. I don't know if the positive comment helped at all, but the company did give me a discount on my next order, along with a new batch of correctly printed T-shirts.

• "Nothing great is ever accomplished without follow-through." Whether it's rebates, credit card rewards, or saving for retirement, smart money management usually requires constant monitoring. Many people forget to cash in their rebates and rewards cards, for example, or neglect to set up their workplace retirement accounts. Being organized and following up can earn consumers big bucks, as Mary Kay taught her sales force.

Tags: entrepreneurship

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Reader Comments

Good adivce here (if you can forget the source)

Making others feel important, listening, following through and having enthusiasm are all wonderful habits. Doing those things to sell pricey cosmetics to people who don't really need them and to convince thousands of others to do likewise----less so.

Think Again

Women do not need to be convinced to purchase cosmetics. The "source" is the point. Mary Kay(a friend of mine). Had a wonderful plan and an incredible business. Her way is God, Family, Career. In that order! She taught woman to build a business by building friendships with woman and offering an awesome service to those who appreciate what we do. So many times people want to look at the negative in something that is so wonderful. Well here is the positive: Mary Kay gave away and still does, more free cars that any company in America (or the 40 other countries we do business in)! Mary Kay created more Woman Millionaires then any other company, she shared the wealth unlike most all the other companies in America, she allowed woman an unlimited opportunity! Why do we think so highly of company owners that keep all of the good stuff for the owners??? There are more woman earning a 6 figure income in this company then in any other company in the world!! In fact only 2% of American woman earn a 6 figure income and 87% of the 2% are consultants/ Directors in Mary Kay! Oh look at her taking advantage of these poor woman who have been able to change their lives in ways they never dreamed or imagined!! Boo who! I am a stay at home mom with a 6 figure income. I have 100's of loyal customers who love the personal service I offer them because they are too busy with family and a demanding job away from their family to shop for make up! This company is the best company with the number 1 best product on the market. Forgive her for changing the lives of so many woman and touching the lives of their families and their customers in a way corporate America would NEVER understand!

ANYONE WHO DECIDES THEY WANT THE BEST OPPORTUNITY WITH UNLIMITED GROWTH AND INCOME CAN DO THIS! We do share!

Are you telling me that it is smarter for women to try to go to the mall on their day off and waste their time, end up buying things that may or may not work for them. Throwing the things they do not like under the sink and then doing it again if and when they can find time, only to create more wealth for the cosmetic owners that pay their employees just over broke so that the owners can get richer?? Great Idea, As for me I'll offer this "Mary Kay" opportunity to as many woman as I can. I will continue to stand proud knowing that I played a small part in changing lives and helping those who are bright enough to "GET IT" build a secure and rewarding business and future for themselves and for their families!! Forget the source?? I DON"T THINK SO!!!

Thanks Think Again

Thank you for informing an "uninformed" man about the woman many of us have come to admire even though we have never met her. I am a Future Director in Mary Kay Cosmetics and know I will also be making six figures shortly doing it my way, on my time and for me and my family. As we all know, if it were for only the money, many of us would not still be around. We are grateful for a business that truly let's us do the right thing and honor those most important to us and in the right order. Thank you Mary Kay - I am proud to offer our products and pass on this opportunity to as many women as I can. It's an honor!

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Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Share with her your own money issues by sending questions to alphaconsumer@usnews.com.

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