Gary Hollister, CEO of XanGo, spoke today at UVSC. From what I have heard, XanGo may go down in history as the fastest growing networking marketing company ever.
Gary spoke to the UVSC business students about his experience in business. His background was 25 years at Merle Norman cosmetics, 14 as president. When he became president, the company was 47 years old and had $60 million in annual revenue. In the next 5 years he grew revenue to $350 million and had 3,000 franchisees. 98% of them were owned by women. In 1991 he became CEO of #1 beauty salon company in the U.S. Sales were $300 million, but only 2% were product sales. He grew that to 25% of total sales through a unique training program to help stylists (who are artists) to sell more product. He tried to create a Monday Morning company (where people can’t wait to go to work) not a Friday afternoon company (where they can’t wait for it to end).
Gary shared statistics from the