Work-from-Home Mom Turns $3,000 into a $740 Million Business
This work-from-home mom wanted to contribute to her family’s finances. She did more than that – she turned a $3,000 investment into a $740 million business.
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On The BIGG Success Show, we discuss the story of Doris Christopher, Founder of The Pampered Chef. With $3,000 borrowed from a life insurance policy, she created a business with sales of $740 million a year, at the time she sold The Pampered Chef to Warren Buffett. Here’s a summary of our discussion on the podcast.
This show is a continuation our last two shows. First, we talked about 5 easy steps to personal leadership. Then, last time, we discussed your arena of service – which is about who you serve and where you serve them. Today, we want to talk about the BIGG Success Power Triangle. We’ll use Doris Christopher’s story as an example.
Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/01006-011520.mp3
Work-from-home and make money
[George] One semester, my students and I, at the University of Illinois, participated in a guest lecture given by Doris, who is an alum. The information here comes from my notes of her presentation.
She also documented her story in her book, The Pampered Chef: The Story of One of America’s Most Beloved Companies*.
Doris is the quintessential successful work-from-home mom. This former home economics teacher started The Pampered Chef in 1980 with $3,000 borrowed from a life insurance policy. At the time, she was a 34-year old wife and mother of two. She had no business experience.
Like 69% of entrepreneurs, Doris started her business from home. Her basement was the initial distribution center and headquarters for The Pampered Chef.
She decided that the best way to display her wares was through in-home parties. However, on the way to her first party, she got so nervous that she almost gave up before she started! She talked herself into pressing on.
As friends, and friends of friends, hosted parties, Doris received requests from people wanting to join her in the business. That wasn’t necessarily part of her plan, but she figured out how to make it work. Most of these in-home consultants are work-from-home moms.
Growth hasn’t always been easy. At one time, The Pampered Chef had grown so fast that Doris decided to stop taking on new consultants so she could make sure the company could fully support them. That commitment to quality is one thing that attracted the attention of a famous investor.
The Pampered Chef became part of Warren Buffet’s Berkshire Hathaway in 2002. His endorsement is considered to be the ultimate stamp of approval in the business world.
By then, Doris Christopher’s little business was doing over $740 million in sales. She started in her basement and built the largest branded kitchenware company and largest direct seller of housewares in the world!
This Podcast Episode is Sponsored by: FinancialFreedomTool.com
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The BIGG Success Power Triangle
Doris said she had three goals for her work-from-home business at the start:
#1: To help families make meals at home special
#2: To spend as much time as possible with her children
#3: To make enough money to put her kids through college
Can you see the power in these three goals? They’re concise. Easy to remember. Both logical and emotional.
In addition, they fit together for a common purpose. For these reasons, these three goals work together as a motivating force.
One is a Personal Vision Statement. One is a Value Statement. And one is a Personal Mission Statement.
“#1: To help families make meals at home special” is her Personal Vision Statement. She wants to give an assist to busy families struggling to come together over a meal.
“#2: To spend as much time as possible with her children” is a Personal Value Statement. This sets her boundary. If her business demanded too much time away from her kids, she couldn’t consider it a success.
“#3: To make enough money to put her kids through college” is her Personal Mission Statement. This explains “why” the vision is so important. It is the deeper purpose underlying her work.
These three – your Personal Vision Statement, your Personal Value Statement, and your Personal Mission Statement – form the points of the BIGG Success Power Triangle. Together, they help you climb onward and upward to BIGG success!
FREE Power Triangle Worksheet
Get the 1-page Power Triangle worksheet to help you stay more focused on your goals and keep pushing to reach them. And right now, it’s FREE! So get your copy today!
Here’s to your BIGG success!
George “The Professor” & Mary-Lynn
Co-Founders, BIGG Success
Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/01006-011520.mp3
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