Stewart and Seacrest: A Closer Look at The Savvy "Suits"

Everyone dreams to be successful.  Some of us have been able to make our dreams a reality; and some of us make it happen and don't just wait on chance or luck.  When I think of successful entrepeneurs who have not only made a name for themselves, but have made their names a "stand alone", self proclaimed empire.  Those dreamers who have become doers, I greatly admire and intend to learn a great deal from.  When it comes to "grabbing the bull by the horns", there are two relentless entrepeneurs that come to mind right away; Martha Stewart and Ryan Seacrest.

MARTHA STEWART:

Martha Stewart has the following titles: businesswoman, media personality, author, magazine publisher, talk show host host.  She advises that all entrepreneurs create a well-researched business plan to get a grasp of how big their vision is and what they will need to achieve it.

In 2002, Inc.com published an article, "The Controversial Career and Stunning Success of Martha Stewart", in which I was able to get some insight and share with you.  She was born Martha Kostyra, the second of six children born to a Eddie Koystra and Martha Ruszkowski Kostyra; this was a working-class home in New Jersey.  Stewart's mother taught her how to cook and sew. Later, she learned the processes of canning and preserving when she visited her grandparents' home in Buffalo, New York. Her father had a passion for gardening, and passed on much of his knowledge and expertise to her.

"Martha Kostyra struck out on her own and became a fashion model in New York City while attending Barnard College for Women as an art history major.  She was selected as a "Best Dressed College Girl" in 1961 by a leading fashion magazine.  It was at this time in her life that she met the man who would become her husband for the next 20 years, a Yale Law School student named Andy Stewart"(Inc.com).  

During this time, Martha became a socialite, hosting parties for New York's powerful people.  She then worked as a Wall Street Stock Broker and had decided she had enough.  She and Husband, Andy scrapped up enough money to buy a run-down farm house in Westport, Conneticut.  They took on the restoration of the 1805 home on their own; this is where Martha summoned interior decorating.  Eventually, this house became the model for the "Martha Stewart Living Show".   In the basement of the farmhouse she began her small catering business.  She began to sell pies and cakes to small boutiques and eventually opened up her own shop (Inc.com). "Stewart's food business led to assignments writing about food for several magazines.  In 1982, it also led to her first book, Entertaining"(referenceforbusiness.com). 

Soon after, Martha was already making television show appearances and taking interviews.  Naturally, she was offered an opportunity by KMART stores to sell household items with her name on them.  It wasn't until a few years later that she met her partner, Sharon Patrick, now Cheif Operating Officer of Martha Stewart Living, whom helped Martha buy back all her shares of the company and was the beginning of  Martha's empire; in which she combined all her lines of business and created Marth Stewart Living Omnimedia Inc. (referenceforbusiness.com). 

Evan Carmichael's article, "Famous Entrepeneur: Lesson #3", illustrates Martha's emphasis on using a well thought out business plan.  A well detailed business plan will assist in making key decisions.   Stewart suggests that entrepreneurs shoud learn the difference between taking risks and taking chances. “The natural question to ask yourself is whether what you are considering doing is a well-calculated risk or whether you are poised to take what I would call a chance – a long shot that depends largely on luck,” says Stewart.   “I dislike taking chances; but I think taking a well-calculated risk is the cornerstone of entrepreneurship.”


When Stewart was about to borrow $85 million to purchase Martha Stewart Living from Time Warner in 1997, she had to be realistic about the consequences of her decision.   Her advisors cautioned her about the potential risks, but Martha rationally evaluated her odds and made the purchase.  “It turned out to be the best investment I have ever made,” Stewart says.


RYAN SEACREST:


Ryan Seacrest has an impressive resume in which he is a radio personality, a television host, network producer and voice actor.  He has even been dubbed "the most powerul man in reality tv".   Seacrest was born in suburbial Atlanta, Georgia to Gary and Connie Lee.   In an interview to the Atlanta Journal Constitution, "instead of playing with G.I. Joes or cowboys and indians, he would always have a little microphone and do shows in the house".   As a child, Seacrest would perform in school musicals.  As a teen, he became the public school announcer.   He later won an internship with WSTR FM and scored an overnight weekend slot until he completed highschool (wikipedia.com). 


After high school, he went to college to study journalism.  He ended up moving to Los Angeles, California to continue his broadcast career.  At 20, he landed a job on the KYSR FM afternoon show, "Ryan Seacrest for the Ride Home", which became the station's number one show and was nationally syndicated.   In 2004, he became the new host of "American Top 40"  followed by "On Air with Ryan Seacrest"(wikipedia.com).


His televsions career took off when he began hosting shows such as "American Idol" and eventually became executive producer and co-host of "Dick Clark's Rockin' New Year's Eve with Ryan Seacrest".  He was called upon to serve as substitution for "Larry King Live". Shortly after, E! presented Seacrest with a $21 million deal to host "E! News" and Red Carpet Award Shows.  He then became Executive Producer to reality shows such as "Keeping Up With the Kardashians", "Bromance", "Momma's Boys", and "Denise Richards: It's Complicated"(wikipedia.com).


Online Journal's Greg Stacy, worte a business article on Seacrest, "Ryan Seacrest's Business Ventures Will Earn $55 Million in 2011".  The article states, "He has already sold one film project and has another in the works. In November he signed a deal with Clear Channel that's allowed him to start up his own music publishing business, so he will own the music he uses in his shows. He's signed what the Hollywood Reporter calls a "mega-deal" with NBC Universal, and in addition to reality shows he also plans to get involved in scripted television".  The article also suggests that "Seacrest is even planning on launching his own cable network, in partnership with CAA and live entertainment company AEG. While he plans to contribute content, probably from his production company, Ryan Seacrest Productions, he says that it will not be branded the Ryan Seacrest channel".




Still early in his career, Ryan has several interviews discussing his new business ventures and his plans to create his own television network as his peer and muse, Oprah Winfrey.   I am certain that in a few years, like Martha, he too will be providing his own struggles and triumphs in executing an excellent business plan.  No doubtedly, he is not the only person on this planet to avoid one. 


As you can see, the savvy and successful entrepeneurs do not just hustle; they imagine, examine, research, and analyze in order to avoid risks and easily view the strengths and weaknesses in their business plans.