Cute sells.
That’s the marketing strategy Maxine Clark, founder of Build-A-Bear Workshop, stood by as she spoke to about 150 people Monday night as part of the Kellogg School of Management’s Distinguished Entrepreneur Speaker Series.
Clark stood behind a wooden lectern and spoke at a fast pace, drawing in the audience by combining details and strategies about her business with advice and encouragement for aspiring entrepreneurs.
“Children require you to be creative all the time, or else they don’t want to be your customer,” said Clark, who has also served as president of Payless Shoesource.
Clark started Build-A-Bear in 1997 after shopping one day with a young girl for Beanie Babies. Upset that they could not find the ones they wanted at the mall, they decided to start their own company making stuffed animals. Despite a decline in in-store sales, Build-a-Bear Workshop, Inc. made $123.8 million in the first quarter of 2008, according to the Associated Press.
After opening the first store at the St. Louis Galleria mall, Build-A-Bear went into rapid expansion mode to “protect her turf,” Clark said. Now the furry toys are featured in hundreds of stores worldwide.
Clark said good customer service is one of the most important components of creating a successful business.
“We don’t have a fancy training program,” Clark said. “We have one word, and that word is ‘yes.’ ”
Clark said the company’s new Web initiatives, including Build-A-Bearville, an interactive Web site for users to play games and connect with others, will help expand the business.
“Just as you can connect on Facebook or MySpace, you can connect on Build-A-Bearville,” Clark said. “We have really taken bears to where they have never been before.”
Kellogg Prof. Scott Whitaker, who was involved in planning the event, said he felt Clark’s business could be an inspiration to students.
“The way she chooses to run her business is a model for high growth entrepreneurship,” he said. “And we believe that every student here at Northwestern has the ability to be a high growth entrepreneur.”
Annie Moon, who hopes to start her own business, said she felt inspired by Clark’s presentation.
“She was able to induce such passion,” the second-year Kellogg graduate student said. “Seeing a woman do this before me was a very encouraging experience.”
