https://padlet.com/kizjac171/mxn15no662vfi22f en-us 2023-02-27 16:09:05 UTC 2026-01-04 20:58:56 UTC hello@padlet.com kizjac171 https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2496621150 Steve Madden started his shoe company in 1990. He did not study design in college and he was not planning to be a entrepreneur. His dad was an entrepreneur but it was during the Great Depression. This led to him taking less risks in life. Madden has always been negative and pessimistic and always thinks he is going to go out of business. This helps motivate him to change his mindset to bring company success. ]]> 2023-02-27 16:10:39 UTC https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2496621150 kizjac171 https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2499718293 Factor: Capital. Steve Madden started off with little to no money to purchase anything for the company. He ended up having $600,000 raised for him by a good friend that worked for a brokerage company. He gave him the money because he knew Steve Madden was talented. Additionally, he got a lot of cash through an initial public offering. He used the money to buy a factory and start his business. His first year he made around $500,000 which gave him the ambition to expand his company. ]]> 2023-03-01 15:27:06 UTC https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2499718293 kizjac171 https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2499727310 Factor: Entrepreneurship. Steve Madden was willing to break the law to get ahead. He ended up getting convicted for 3 and 1/2 years in prison for having people illegally inflating his stocks. He regrets his decisions and shortcut's. What he learned is that the window of oppourtunites only opens a couple of times in life and he used his intelligence to see when the window was open and jump through it. He found a way through good quality great shoes and cheap prices. ]]> 2023-03-01 15:32:54 UTC https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2499727310 kizjac171 https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2499734195 Factor: Land. When Steve Madden first started his company, he did not even have an office, he worked with his company at a shoe factory. He found the factory in Brooklyn NY. He had to get resources to produce shoes there. To help him, he went to his previous connections with Macy’s and anyone that sold shoes to grow his company. Madden soon realized that lots of people wanted to buy his shoes which led to him opening mores stores. ]]> 2023-03-01 15:37:02 UTC https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2499734195 kizjac171 https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2499740101 Factor: Labor. Steve Madden first started with going to shoe stores 1 by 1 with his pairs of shoes trying to sell them. He started to hire more workers which started with the person who owned the place Steve Madden first worked at, Lance Reuben. He gave him the chance to work at a new factory which led to him learning how to design shoes. Because of the past, Steve Madden decided to work with Lance as well as some previous connections that were on board because they all helped him at the start by getting him into designing shoes. Along the way, he also hired a lot of great people that have his company an edge against the other shoe companies. ]]> 2023-03-01 15:40:59 UTC https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2499740101 kizjac171 https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2499750399 Factor: Entrepreneurship. Steve Madden loves creating and selling things. He got into shoes in the 70s when they were very popular for men. Because of this, he is always designing new shoes and thinking about new shoes to create. He came to realize that nobody was making funky shoes that looked like they were from the 60s, so he brought them back. He saw that a lot of people wanted the shoes he was creating so he opened more stores and started releasing lots of shoes. That helped him fund his first year of owning the business and helped form his brand, Steve Madden. ]]> 2023-03-01 15:47:26 UTC https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2499750399 kizjac171 https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2500044540 Factor: Labor. While Steve Madden was in prison, he had great people running the company which helped with its success. He thinks a main reason why Steve Madden is so great is because he has hired so many great people. He thinks that he is not a good CEO.  It started with him recognizing his own limitations which he is not good at so he got someone to do that for him. After he got out of prison, his company rebounded very quickly by quadrupling his profits compared to the previous year.
https://en.m.wikipedia.org/wiki/Steve_Madden#:~:text=Madden%20served%20time%20in%20the,New%20York%20City%20halfway%20house.]]> 2023-03-01 19:05:55 UTC https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2500044540 kizjac171 https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2500142922 Factor: Entrepreneurship. Throughout the entire time of owning the business Madden noticed that he needed to make mistakes because that is what motivates him. After a few mistakes, He realized that having a cheaper product but good quality and value would lead to more sales and satisfy more people. He used this as a fundamental to price his shoes. This is what blew up the company and their website because people loved the shoe and the price. ]]> 2023-03-01 20:25:39 UTC https://padlet.com/kizjac171/mxn15no662vfi22f/wish/2500142922