Linda Joy Wachner is a brilliant example of female strength and determination. She achieved her dream of becoming the head of a company and built a successful career, proving that women can do anything! Numerous trials in her life became a challenge for her to reach new heights. Her hard-working nature, adamance and sharp mind helped her overcome complex circumstances, surpass competitors and increase profits to the extent that she was able to buy her own company, Warnaco, for $10 million. Learn more at newyork1.one.
What was the childhood of businesswoman Linda Joy Wachner like and how did it influence her future?
Ambitious careerist was born on February 3, 1946, in New York. Her parents loved their daughter very much and cared a lot about her. Since her older sister lived separately, Linda was raised as an only child.
From early childhood, Linda was taught to love and respect herself. She was treated as an adult and a unique individual. She spent a lot of time with adults and all by herself. Therefore, Wachner became an independent, intelligent and well-mannered person already in her young years. She played sports, read books and studied diligently in school. But one day, an unfortunate accident changed her further life. During class, a classmate pulled out the chair Linda was sitting on. After that, she underwent surgery to correct her spine. She could not move for the next 2 years. All she could do all this time was to think about herself and her future.
It was then that Linda promised herself that she would build a grand career and become the head of a company. She decided to achieve success at any cost. This marked the beginning of a new chapter in her biography. Thus, her ambitions and desire to attain a high social status defined her future life path.
After finishing school, she entered the University of Buffalo in New York to major in business administration. Already during her studies, Linda started demonstrating diligence and determination. She curated exams and excelled in her studies. During the holidays, she worked part-time at a New York department store to financially support her parents. After graduating from university, she started a career that she devoted her entire life to.
The beginning of Linda Joy Wachner’s career: her first job, the support of her husband and a fateful meeting that changed her life
In the early days of her career, Linda aspired to achieve a high social status. However, like all young specialists, she started from scratch. Her first job was not prestigious or well-paid. Wachner was hired as a purchasing manager for a trading organization in New York. Her duties encompassed drawing up a plan for purchasing goods, collaborating with suppliers and analyzing customer demand for products. This job taught her which products are in high demand, the reasons behind its decline and how to make it more popular.
After 1.5 years, she continued to work in a similar position at Macy’s. There, she was the youngest among the employees involved in purchasing goods and analyzing customer demand. Linda was 22 years old at the time. It was then that she met her future husband, Seymour Appelbaum. They got married when Linda was 27 years old. Her husband supported her in her career aspirations. In an interview, Linda said he was the first person in her life who believed in her success. She was sure that there were no unattainable goals. This motivated her to keep going and stay committed to her dream of becoming a leader.
In 1974, Linda Joy Wachner was employed at the company Warnaco. Although she worked there for 3 years and was promoted, the management did not allow her to advance further. This situation disrupted Linda’s plans and became a challenge for her to prove that she was capable of more. Eleven years later, she became the first female president in the company’s history. But to accomplish this, she had to work hard amid fierce competition and devote almost all her time to work.
Business connections also played an important role in Wachner’s career. While working at Warnaco, she met advertising expert Mary Wells, who was also an ambitious careerist and successful businesswoman. Mary became Linda’s mentor, helping her in the business environment. Once, Mary introduced her to David Mahoney, the head of Max Factor company. He was favorably impressed by Linda’s professional competence and work experience. She couldn’t even imagine at that moment that a new acquaintance would help her fulfill her dream.
Work as a company executive: achievements, success, earnings
In 1979, Mahoney offered Linda the position of president in the American division of the company. She was over the moon and called it the major accomplishment in her career, considering this event the best gift. She was 30 years old at the time. Not many women at this age had the chance to hold such a position. But hardly any of them could handle financial hardships like Linda did. After heading the company, she found out that the losses of the Max Factor amounted to several million dollars. In her first year of work, she halted the increase in losses and returned part of the invested money the following year.
In the next 2 years, the company regained its profitability. To achieve this, Wachner changed the management system and staff. This was also influenced by her temper and management style. Being tough, determined and fair, she set tasks and meticulously monitored their execution. Results were the only thing she cared about. To boost the efficiency and earnings of the company, she introduced the principle of doing everything at once into the corporate code. Linda also kept a diary in which she recorded all the company’s problems and opportunities for their resolution and further development.
The successful careerist from New York gained enough knowledge and experience at the company Max Factor to become the president of her own company. In 1984, she achieved her goal. Linda obtained permission to increase capital in order to acquire the company where she worked. She convinced representatives of an investment bank in New York to support her financially. Wachner invested everything she had into this purchase, which included 10 million dollars and 770 thousand shares of the company. Thus, she became the owner and president of Warnaco. She maximized the company’s profits by over 100%, expanded the product range and reduced a backlog.
In 1993, she became one of the highest-paid female executives. For her work, professionalism and authoritative work style, Linda received 3 million dollars per year. Therefore, at 45 years old, she had everything she dreamed of and even more. In a few years, her company was ranked as one of the most successful and she herself became an example of a strong female leader.
Success secrets of Linda Joy Wachner
- Stay committed to your cause. Ambition, in Linda’s opinion, is an advantage of a woman. Having a goal implies a desire for greater things, a love for yourself and an aspiration to improve yourself and the lives of others.
- Never give up and go for victory at any cost. There are always obstacles on the way to a dream. However, Wachner saw them as a challenge rather than a problem. She learned to deal with them on her own, thus developing her professional manner and making herself more influential among entrepreneurs.
- Show determination and diligence. Linda wanted to be a leader her whole life. That is why she spent all her time at work, staying in the office even on weekends, holidays and during vacations. She enjoyed controlling things, setting objectives and trying to accomplish them as quickly and effectively as possible.
- Develop self-esteem and self-confidence. Love for herself and respectful treatment from her parents made Linda a confident and ambitious person. Throughout her life, she pursued her dream, set goals and followed her principles, which also helped her succeed.