Billion Dollar Bite: Choosing Your Investors & Navigating No's in Business with Kendra Scott
Rejection has been a recurring theme on this show, serving as a powerful catalyst for success.
This week's Billion Dollar Bite features Kendra Scott's appearance in Austin, hosted by Beyond The Billion and Brown Advisory. From her initial setbacks in business to the journey of building a billion-dollar jewelry empire and the challenging decisions made along the way, we invite you to catch a glimpse of Kendra's success and the hardships she faced in this brief episode.
Key Takeaways
1/ Failure serves as a real-life business school: when you fail, you learn, and then you rise.
2/ Prioritize hiring based on core values rather than titles.
3/ Concentrate on building the best business; opportunities and resources will naturally follow.
4/ Pivoting and taking risks are essential for achieving breakthroughs.
5/ Select your investors as carefully as you would choose a spouse.
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𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐃𝐨𝐥𝐥𝐚𝐫 𝐌𝐨𝐯𝐞𝐬 is THE show for the audacious next-gen leaders.
Unfiltered. Personal. Inspirational.
Tune in to learn from world's foremost funders and founders, and their unicorn journey in the dynamic world of venture and business.
From underestimated to iconic, YOU too, can make #billiondollarmoves — in venture, in business, in life.
PODCAST INFO:
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Kendra Scott
Founder
In 2002, while on bed rest during her pregnancy and on leave from work, Kendra Scott kickstarted her eponymous jewelry company with a modest $500 from her bank account, operating from her spare bedroom. Despite a previous business venture shutting down, Scott's resilience fueled her determination to transform her passion for jewelry into a business with a philanthropic mission. Utilizing her newfound time, she designed a collection and embarked on a door-to-door sales approach, often accompanied by her young son.
Today, Kendra Scott's diverse range of jewelry, home decor, and beauty products grace the shelves of renowned fashion retailers such as Neiman Marcus and Nordstrom, as well as hundreds of boutiques. With over 75 Kendra Scott stores globally, including one in Selfridges, London, the brand has achieved significant success.
In 2016, a Boston-based private equity investment firm acquired a minority stake in Kendra Scott, valuing the company at $1 billion, as reported by Forbes. Kendra Scott actively pursues its philanthropic mission through initiatives like the Kendra Cares program, which extends their signature Color Bar to pediatric hospitals. In 2017, the company hosted over 10,000 Kendra Gives Back events across their stores, raising funds for local causes and donating more than 75,000 pieces of jewelry.