The Rise & Grind Blog, From Pure Grind Coffee
Lessons From a Hustler: Steve Madden
Steve Madden, the owner of his self-named shoe empire, is the type of hustler we can take notes from. With a grind like no other, he’s authentic, innovative, and inspirational. But his journey to the top was not always easy. His successes are undoubtedly due to his unparalleled drive, and now he is the face of the raw and authentic entrepreneurial struggle. At Pure Grind, we take inspiration from the life of this self-made entrepreneur.
Humble Beginnings
In an episode of The Lonely Entrepreneur’s podcast titled “Self-Made Entrepreneurs,” Madden said, “I wanted to have my line, but most importantly I wanted to survive.” This is a shared story among many business owners: They just wanted to make a living. He fell in love with shoes in the 1970s, when he made platform shoes famous at a local store in his hometown on Long Island, New York. He was just a high schooler. His company was launched in 1990 when he released the Marilyn with only $1,100 in the bank. By the mid-1990s, his business was bringing in more than $38 million in sales. By 2000, the company opened its 50th store and those numbers climbed to more than $200 million. Now, his name is a $3 billion brand.
The Industry Doesn’t Like Him
In the shoe world, Madden isn’t well liked. He didn’t hail from some shoe capital, like Milan or Paris, nor does he have a background in design. He just loves designing and selling shoes. He also didn’t go to business school. In fact, he dropped out of college in Miami, where he spent most of his time getting high and going to the beach. Madden started selling shoes out of the trunk of a car. Despite these — what people would describe as setbacks, there are very few designers in history that are this successful. He made it big when he released the Mary Lou, then became a household name.
Fear Over Failure
Madden has spoken in interviews about how people are often too afraid to try new things because they worry they will fail. On NPR’s How I Built This podcast hosted by Guy Raz, Madden — always being authentically himself — dives in to the trials and tribulations of being a businessman and trying to be successful. But his big takeaway he said, "You know, so there were some mistakes that we made, but we did so many great things. And the thing about that is if you start getting gun-shy and start being afraid to make a mistake, you'll never have the brilliant ideas."
If you let fear lead you on your path, you’re never going to make it anywhere. Madden has not let his setbacks, like lack of education, stop him from selling shoes. His former boss, Jan Friedman was once quoted saying, “[Madden is] one of the most natural-born salesmen I’ve ever seen. He could sell anything to anybody.” This confidence and grind that Madden so uniquely possesses is what made him one of the most powerful figures in the shoe industry.
Join the club and grab some fuel for the hustle.
Failure Happens. Learn from it.
From a failed product launch to a book that didn’t sell well, most entrepreneurs — and most people — fail. You can’t avoid it; it’s a natural stepping stone to success. You can, however, learn lessons from it and make it your creative ally. Keep in mind some of the most successful entrepreneurs failed and made a comeback, benefiting from their past failures. Take the Beatles; they were rejected by five record companies. Walt Disney was turned down about 300 times when looking for funding for his theme park. JK Rowling was rejected by 12 publishers before Harry Potter saw the light of day. If you ask Amazon Founder Jeff Bezos, failure is a side effect of innovation. Here’s a couple power tips to keep you moving on.
Take Responsibility
Take responsibility for your failure. Perform a trial-and-error process, observe, and ask questions. Why did you fail? Why was the market not ready for your product? Why did your manuscript get rejected? Why did that potential client decline your proposal? When recovering from failure, it’s important to observe the missteps and prevent them from happening again. Get out of the gray zone, and identify the problems. How can you restructure it for next time?
Go Toward Your Mistakes
Failure is a fact. If you are going to do it, you need to do it well. You have to mentally prepare yourself for it. But don’t wait until it’s too late. If you’re about to lose your business, you have to peel off the band-aid in one swift pull. To ease the transition, consider an early shutdown or sacrificing part of your earnings. Don’t forget to take care of your people. Nobody likes surprises, so you’ll need to make your staff and clients aware of the problem. Either way, it’s a rocky road that comes with losses, and you want to get through it fast. All eyes are on you right now, and you need to remain calm.
It’s Worth It
It sounds crazy, but failing is worth it. It gets you where you need to go. Once you have made it through the storm and stepped back to analyze, you can identify what went wrong. You’ll be among all the bittersweet pieces of your aspirations. Minister and Writer Norman Vincent Peale said, “Shoot for the moon. Even if you miss, you’ll land among the stars.” If you’re passionate about something, you’ll ride the rollercoaster until you make your final landing.
So there you have it — failure happens. Take it from the best of the best. Nobody gets to the grand stage without tripping on the steps first. Embrace every bittersweet taste of it. You’ll get roasted, but keep going until you win!
Join the club and fuel the hustle.
Where the Heck Do You Find the Motivation to Keep Going?
You’ve hit a point where you feel like you can’t be creative anymore. We’ve all been there. You’re worried you lost your mojo... that your last piece of work was your final piece, that nobody will appreciate what you’ll do next. But that’s not the case — you just need a kick-in-the-ass reminder of how to power through, and dammit, that’s what we’re here to do.
Show Up
Seriously, just show up. It may sound deceivingly simple, but it’s the first step in getting the motivation you need to get moving. Force yourself out of bed, pull yourself together, get dressed, and get to work. Once you start, you’ll be unstoppable!
Change Your Scene
Working at your office desk may be stifling your creativity. Skip the frustrating morning commute, and set up office right at your home. Create a dedicated workspace that will encourage you to get down to business. Set the mood by decorating your walls with images that inspire you, choose colors that uplift you, and place plants on your desk to create a calming environment. Be sure you have your Pure Grind beans nearby! You’ll want to be where the coffee is; it’s what’s driving you to get the gold.
Set Goals
Goals are the stepping stones in your career. Give yourself a pat on the back because you’ve already checked off the first step: getting started. It sounds so Nike, but just do it. Start small with short-term attainable goals. You’ll feel all warm inside when you knock those little ones off your list. Then you’ll feel ready to level up to the big stuff, like mid-term and long-term goals. Remember to identify your purpose when establishing clear and compelling plans. Embrace being your own boss, and set your own strict deadlines to keep yourself productive.
Be sure you’re implementing BIG HAIRY AUDACIOUS GOALS (BHAG, pronounced bee-hag). Coined by business consultant and author, Jim Collins, this term refers to using bold missions as a powerful mechanism to stimulate progress. So make those goals hairy ones!
And don’t forget to make them S.M.A.R.T.: Specific, Measurable, Achievable, Realistic, (In A) Specific Time Frame. Doing so puts power behind your goals. As Tony Robbins says, “Setting goals is the first step in turning the invisible into the visible.”
Don’t let artist’s block get you down. From here, you set the stage for success. So show up, take risks, and kick ass!
