Analyzing Entrepreneurship Business EssayTerm Paper

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Entreprenuership

History Growth and Development of Napoleon Perdis

Napoleon Perdis' early life upbringing was a direct contrast of the life he lived in the Anglo western environment. Life was tough for him in his new neighborhood. Perdis was hard working and persistent. Consequently, he became one of the leading cosmetics exporters in Australia (Sexton, 2013; Hornery, 2015). He is arguably the most popular or at least well-known Australian citizen. He competes with world conglomerates. His success can be seen in the numerous appearances he makes in fashion functions and has indeed won numerous awards and bequeathed his unique techniques to his students.

The real satisfaction for Napoleon Perdis, is not the awards he accolades. His real victory emanates from the fact that he has succeeded in bringing his products closer to a wider populace, and that he has made them popular among millions of people (Napoleon Perdis, 2016). He lived in Parramatta, Sydney. His parents were just as hard-working. They owned a chain of restaurants, including a Fish n' Chips outlet. While they were in pursuit of their business activities, Napoleon was left behind with his younger sibling, Emmanuel. They were taken care of by their grand grandmothers who happened to live in the household of the Perdis. While Napoleon's dad came from a classic Greek background and viewed life as such, his mother was more versatile and had a more international view of life. He was shaped a lot by his mother's attitude towards life (Kythera-family.net, 2016).

He moved to the United States in 2005, and specifically lived along the Saks 5th Avenue, in New York in 2006. He showcased his inventions and the impact of the global products he continued to produce. Several luxury and leisure outlets helped him do the same. They include Bergdorf Goodman and Nieman Marcus. These exhibitions helped popularize Napoleons products. It was demonstrated that the products were indeed, of international repute and that he actually set the pace for cost products across the globe (Napoleon Perdis, 2016).

Napoleon put education at the heart of his product promotions. He provided information on the products that he collected from his wide travels across the globe. These products, with their tips and tricks, were, and still are, aimed to empower women and bring out the beauty they hold within them; irrespective of their age, ethnicity or race.

The cosmetics magnet can now boast of 100 departments and store counters, 85 concept stores, and another 750 stockists that are independent. Indeed, Napoleon is the enigma of cosmetic trade in Australia and the outstanding symbol of glamour, luxury and education (Napoleon Perdis, 2016; Idato, 2013).

The Socio-Cultural Background and the Family's Role in Developing Napoleon Perdis and his Passion

Perdis' cosmetic business dream was hatched when he decided to help his mother do make up before she left for her activities. Although his first make up job was not perfect (Sexton, 2013), he came to refine his skills. Stolos Snack Bar was owned by the Perdis' family. It was a hot food outlet in the city. Perdis had to work in the family business, engaging in gigs during weekends and brought home such a significant amount of money that his father was persuaded to abandon the ambitions he had of his son being a chemist or lawyer (Sexton, 2013). Perdis won his father's heart and soon made him extend a loan of $3,000 to him and his wife, Soula Marie, as a loan to start up a business (Sexton, 2013). The two met at Macquarie University where they had schooled together. She majored in finance and actuarial science after claiming the Dux title from her high school performance. In the latter part of the 90s, after the family opened up a pair of cosmetic flagship stores in Melbourne and Sydney, Soula came in handy with her aptitude in numbers to support the family business. She quit her previous job and had been supportive of her husband all along, as he encouraged people, through the word of mouth, to buy his products.

The lady of the family managed to balance the need to grow the business and that of raising a family. She prides herself in four children. She still juggles her family responsibilities, family business roles and charity work (Women's Agenda, 2014). Soula remains the main motivation behind her husband's soaring success in business.

The Type and Competitive Advantage of the Business Napoleon Perdis Started

The magic boost in the business occurred in 1992 when Napoleon launched his studio in Leichhardt, Sydney. Three years down the line, Perdis proceeded to start his cosmetics line (Roberts, 2015). Napoleon had already set up over 73 stores by 2011, in Australia and New Zealand. He had even started some in the U.S. His products were stocked at stores such as Ultra and others (Roberts, 2015).

Following his contribution to the world of cosmetics, Napoleon has been awarded on numerous occasions. He won the International Business Award and the ELLE Award (Roberts, 2015; Skoufatoglou, 2016). The business magnet also has other activities that he pursues besides his cosmetics ventures. He released a makeup manual called 'Forever Flawless', and even launched an academy in 1993.

He is active in international beauty events and attended the recent Myer Autumn/Winter show in Melbourne (Roberts, 2015). He is reported to have told media that it takes him 6 months to prepare looks for major shows such as the one he was attending (Roberts, 2015). He retails his products through Myer, including some of the most prestigious stores in the U.S. such as Bergdorf Goodman located on Fifth Avenue. In the recent past, the business mogul has signed four contracts that allow him to open four concept stores in the middle- Eastern region. These deals (contract), further underscore Perdis' leading role as a cosmetics producer and exporter, in Australia. Perdis confessed to the Sydney Telegraph that his ultimate dream is to lead a happier life and that he plans to move his family back to Australia from the U.S., in the period following 2014 (Sexton, 2013).

Perdis has continued his innovation streak since founding his cosmetics firm. He keeps a firm trail on the customer whom he refers to as his empress (Napoleon Perdis, 2016; Skoufatoglou, 2016). Napoleon has a range of innovative products, including his donkey milk containing cleansers and the snail mucus constituted BBB cream for skin repair. The effort he makes and the innovation is evidently felt by his customers. Perdis has the empowerment of women as a central focus in his activities (Napoleon Perdis, 2016). He states that he does not view his product buyers as his customers; rather, he views them as partners with whom he collaborates in the effort to achieve their dreams. He further states that they, as a business and product line, see individuals rather than crowds. He reemphasizes that they work with every soul to help them achieve their beauty and other dreams.

Perdis, like other business entrepreneurs, has faced cash flow challenges in the course of his business pursuits. He had to fund the business from his own private sources and from within the business in the initial 8 years. It took sacrifice and ingeniousness for banks to recognize his business pursuits (Hawes et al., 2007). He always intended to make his business a global entity. His first step was to make his presence in New Zealand, naturally (Hawes et al., 2007). This also happens to be the place that the first Napoleon Perdis makeup Academy opened up its doors in March of the current year. One can find Perdis' products in any of the 16 Saks Fifth Avenue outlets in the U.S. Reports indicate that he is in the process of starting a number of independent stores and also launching another retail shop later this year. He attributes his success in cosmetic business, despite the cutthroat competition, to his branding (Hawes et al., 2007). In 2005 / 2006, Napoleon Perdis projected a turnover of $45 million and an accompanying expansion plan for the following years.

What I would Recommend to Napoleon Perdis for the Future

Perdis should consider going into less traditional markets in the developing countries. Some of these countries have high regard for makeup. In order to counter the challenges of local laws, he should accommodate merger proposals in his business. He should also consider acquisitions and franchises in his wider scheme. Such strategies make a lot more economic sense compared to the direct exports. Perdis should launch his products online too. The latest rends show that business online booms. Contemporary buyers like to make instant purchases online. Given that he is pulling out of the U.S., he will attend better to his clients, if he trades online (Roberts, 2015).

Bibliography

Hawes, K., Jacobs, D., Business, D., Jacobs, D., Cooper, R., & Jacobs, D. et al. (2007). Napoleon Perdis: How to become an entrepreneur. Dynamic Business. Retrieved 20 March 2016, from

Hornery, A. (2015). Private Sydney: Napoleon Perdis quits America to focus on… [END OF PREVIEW]

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