2024 is only one month old but my, how much has changed in such a short period of time. My upcoming book is really four-books-in-one. And the timing of my book couldn't be better.
Part One: Amazon. I wrote plenty about Amazon and how my company was first to sell beauty products on their platform. Little did I know then that Amazon would overtake Walmart in sales in 2024 as that was unfathomable. Yesterday, Amazon announced sales growth of 14% to $170B. I'm thrilled to say that we were part of their success. We sold more than 32 million gloves and nearly 100,000 gallons of Ginger Lily Farms to Amazon in January alone. Walmart's most recent quarterly sales were $160B, up 5.2%.
Part Two: The rise and fall of the pro beauty business. I wrote very explicitly about the rise of the pro beauty business in the 80s and 90s. I also wrote how Sally Beauty started the demise of the industry with its first acquisition of a beauty distributor. It's a sad story how a company who thought having a near monopoly in an industry would propel them to the top but instead, dragged them down. Yesterday, they announced sales of $931M, down 2.7%. So much for the state of the pro beauty biz.
Part Three: The amazing outcome of being a Gallup-trained organization. I've read countless books on coaching, engagement, leadership just as you have. However, nothing stands out like the science behind Gallup's approach. Our average employee tenure is more than 19 years, we haven't hired a new employee since 2019 and not a single employee has voluntarily left. The core team of 35 employees was responsible for getting out more than 30 truckloads of goods to Amazon in January, an unheard of accomplishment.
Part Four: 101 Entrepreneurial Lessons. Navigating business in 2024 is difficult at best. The Magnificent Seven stocks have ruled Wall Street and the latest quarter magnifies their presence in the world. However, small caps are struggling. Peloton, once the pandemic darling, dropped 24% yesterday to a new low. However, I am more concerned with the 5.4M people who start a business each year. It's never been a better time (that is always the case) but never been a more difficult time (that is always true as well). I believe my 101 lessons validate my 39 years running TNG and my objective is to mentor entrepreneurs at all stages of their business.
If you haven't checked out my book, please do so as it is available for pre-order on Amazon and all major booksellers. Here is the link:
Thank you loyal reader for reading my blogs! Onwards and upwards in 2024.