Founders
Episode 361 #361 Estée Lauder
Founders

Episode 361: #361 Estée Lauder

Founders

Episode 361

#361 Estée Lauder

David Senra is the host of Founders, where he studies history's greatest entrepreneurs. This is what he learned from reading Estée: A Success Story by Estée Lauder.

Warren Buffett and Charlie Munger said it was a crime that more business schools didn't study Henry Singleton. I think it's a crime that more entrepreneurs don't study Estée Lauder. She is one of the best founders to ever do it. This is the story of how she went from a childhood obsession, to a single counter in a beauty salon, to a multibillion dollar empire. 

This is my third time reading this book. It gets better every time I read it. This episode is what I learned from rereading Estée: A Success Story by Estée Lauder. 

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#361 Estée Lauder

Introduction

Business is not something to be tried on. It's not a distraction, not an affair, not a momentary fling. Business marries you, you sleep with it, eat with it, think about it much of your time. It is in a very real sense an act of love. If it isn't an act of love, it's merely work, not business.

What makes a successful entrepreneur? Is it talent? Well, perhaps. Although I've known many enormously successful people who are not gifted in any outstanding way, not blessed with particular talent.

Is it then intelligence? Certainly, intelligence helps, but it's not necessarily the education or the kind of intellectual reasoning needed to graduate from the Wharton School of Business that are essential. How many of your grandfathers came here from the old country and made a mark in America without the language, money or context? What then is the mystical ingredient?

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