Billionaire Leonard Lauder reveals successful people are first to arrive at work, last to leave
The Estee Lauder Companies Chairman Emeritus Leonard Lauder shares tips and tricks to being successful in business and leadership.
Estée Lauder Chairman Emeritus and cosmetics billionaire Leonard Lauder told Fox Business Network Tuesday that being successful is all about the time put in and knowing firsthand that there’s no substitute for hard work.
Leonard Lauder, the eldest son of Estée and Joseph Lauder, told “Cavuto: Coast to Coast” that his father consistently beat him to the office and was last to return home.
“A bit of advice that I’d give to all young people: Never come in late,” he said. “Be the first there and, if you can, be the last to leave. First there and last to leave always gets it.”
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Leonard Lauder joined the family business in 1958, taking over as president in 1972 and becoming CEO in 1982. According to Forbes, Lauder acquired brands like MAC and Aveda in the ’90s and took the company public on the New York Stock Exchange in 1995.
Estée Lauder in 1966. (Photo by © Hulton-Deutsch Collection/CORBIS/Corbis via Getty Images)
Estée Lauder employees still refer to the Leonard as the company’s “Chief Teaching Officer.” According to Forbes, Lauder is currently worth $22.5 billion.
During the segment, Lauder revealed his simple keys for success, including sharing your vision with others and listening in return.
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“I have two little phrases which is the key to success,” he said. “Number one, be kind, and number two, listen. If you can be kind and listen and deal with your people with respect, you cannot believe how much you can accomplish and how much you will be remembered and followed and celebrated. That’s the way to go.”
The beauty behemoth made big waves in the industry in the ’70s by hiring more female employees to better gauge their consumers. Lauder reportedly stressed that the company should “never” make a decision without a woman at the table.
“You have to remember the key thing in human success is number one, intuition and number two, understanding who the people are that you’re dealing with and selling to, and understand their needs,” he explained.
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Estée and Joseph Lauder launched their brand in 1946 and received their first major order of $800 worth of products the following year from Saks Fifth Avenue.
Estée first began experimenting with women’s beauty concoctions in her family’s kitchen. Leonard Lauder released his book “The Company I Keep — My Life in Beauty” this year, detailing the company’s foundations and his rise to everlasting leadership.