MODERN ENTREPRENEUR
he told the media, “I have struck a
bonanza on electric light – indefinite
subdivision of light - and have
already discovered how to turn
electricity into a cheap and practical
substitute for illuminating gas.” The
truth was that he didn’t even know
how to make the light bulb but used
sagacious publicity to fund his
projects and raise capital for them
from investors. Hype was his stock
in trade and it paid huge dividends.
Coco Chanel:
Coco Chanel’s trek to the top was
one of defiance and chic PR. This
elfish woman had the guts to go
where others would not, and did so
with savoir faire. She was a go-go
entrepreneur with a mesmerizing
sense of adventure – a daring
dilettante with an audacious attitude
that built a billion dollar empire in
couture. Coco was quite effeminate
but with an androgynous style – the
grace of a lady and flamboyance of
a man. Grandiosity was her forte.
Many of her product offerings
were right on the edge – daring to
package Chanel #5 in a square, not a
round bottle as all other fragrances.
Flare led to her creating costume
jewelry by selling fake pearls that
looked real. Her cocktail dresses
had a masculine appeal and that
made them popular. Coco had what
I’ve labeled a synergistic flair – both
masculine and feminine.
Howard Hughes:
The master of hype and publicity
was Hughes, who ‘owned’ Louella
Parsons, Walter Winchell and Hedda
Hopper. They flew first class on his
TWA airlines anywhere in the world.
When Walter Winchell went on TV
for the first time in 1955 Hughes
interceded and had TWA sponsor the
show. That proved to be his power
over the press. The biggest publicity
scam of all time was Hughes’
Spruce Goose airplane, which cost
millions and which Hughes knew
would never fly. Hughes’ Aircraft
executives couldn’t understand why
he continued to pour millions into
the project and then after the war
spent a million a month to keep the
defunct plane anchored in Long
Beach Harbor. Hughes was stupid
like a fox, since he used the plane
to attract the media in droves and
used it to gain Air Force contracts
that would ultimately make his
Hughes Aircraft company into
the largest defense contractor for
satellites in the world. Even after he
was subpoenaed before Congress
for misuse of these funds he
was granted a multi-million dollar
contract. His publicity ploy paid
huge returns, especially since he was
granted tax-exempt status by the
IRS [another bribe] for saying that all
revenues were non-profit.
Sir Richard Branson:
Branson was a bit mad in promoting
his Virgin brand, doing ocean balloon
rides while constantly risking his
life, and is the poster child for
building brands via brash daredevil
stunts. Who would launch a firm
named Virgin Brides and show up
at the press conference wearing
a wedding gown? Sir Richard was
the very first to cross the Atlantic in
a hot air balloon and, when asked
why by business associates, said,
“Editors have to put pictures in their
publications. We try to make their
job easier.” The brash and bombastic
Branson reveled in a childlike s