For any business leader to be successful in a competitive business environment, he/she needs to have strong motivational skills to achieve a task. Moreover, he should possess the ability to exert immense effort in getting things done by his employees, staff and those around him. An entrepreneur needs to be a person who enjoys working with other people and has the necessary communication skills to deal with them. In short, an entrepreneur must be able to motivate others to act efficiently through his/her interpersonal skills. In the cosmetic industry, William Lauder’s exemplary leadership and motivational skills was a catalyst in turning a humble company into a formidable force in the international arena.
William Lauderis the illustrious grandson of Mrs. Estee Lauder – the enterprising business leader who founded the Estee Lauder Corporation. She started the company in 1946 with her husband with a vision of introducing a unique range of cosmetics and skincare products for women. These products were unique because they were safe on the skin and free from allergens. She entered the cosmetic industry at the time with just four products – The Crème Pack, The Skin Lotion and Cleansing Oil and the Super Rich All Purpose Crème. The immense popularity of the products evoked a sense of trust, confidence and quality among her customers and the company a household name. This led to the establishment of the company’s first department store on Saks Fifth Avenue in New York within two years.
Within a short span of fifteen years saw the rapid expansion of the company and diversification of its products to include hair care and make up products. There was also a section on men personal care products. The success and popularity of the Estee Lauder Corporation’s products found their way on the shelves of a fashionable departmental store in London. A few years later, the company established its first international branch in Hong Kong.
Inheriting his grandmother’s exceptional entrepreneurial and motivational skills, William Lauder was determined to transform the company. During the early tenure with the company in 1986, he made it his mission to make the Estee Lauder Corporation a major player in the international market. His exemplary entrepreneurial and motivational skills along with business acumen played a critical role in the success of nine premium products of the company in global market.
William Lauder’s entrepreneurial and motivational skills were instrumental in the successful implementation of his concept of a store within a store. This unique marketing and promotional strategy won the praise of both customers and critics alike. It was so popular that other companies in the industry adopted it. He introduced similar innovative strategies to the online activities of the company. This made the company’s products available to a wider global audience and from the comforts of their home. He also streamlined the retail and distributional channels of the company. Not only did William Lauder transform a company but he changed the entire beauty and skincare industry.