ENT526 – Oct15/2012
- How do you create a strong venture team?
- What are some critical human resource considerations when
growing the company and adding key employees.
- What are the most common hiring mistakes?
- Mary Kay Ash, Mary Kay Cosmetics
- Anton Rabie, Ben Varadi, Ronnan Harary, Spin Master Toys
Mary Kay Ash
- How did her deep understanding of her target market contribute
to the success of her venture?
make everyone feel important, understand the female market
by connecting to them. Pretend everyone had a sign on them
“make me feel important” – effective to sell a product
Wanted women to feel like queens.
- What Fundamental life principles influenced the development and
growth of her company?
live by the “Golden Rule” – wanted everyone to feel important
her mother telling her “I know you can do it”
Work - Family
- Identify the unique HR practiced she implemented to motivate and
reward employees in the company?
Everyone treated fairly and equally – follow the Golden Rule
Sales force of independent consultants
Sales done by selling to small groups – the sales person can pitch
to the individuals
Top Seller Gifts – incentives
Managing and Growing the Venture:
Constant Change, many roles for the founder/entrepreneur
Balance between time spent managing and time spent doing as the
Creating a strong venture team – human resource considerations
Domain Knowledge: someone who understands the industry
Operational Experience: someone who knows how to run the business
The BODCAT Management Model
Show that you have: b