Podcast Summary
From side hustle to serial entrepreneur: Marcia Kilgore started as a personal trainer with a side hustle in facials, but her business evolved organically, leading to five companies. Planning and research are crucial in entrepreneurship, as shown by Home Depot and Rent the Runway's success. Innovation and a positive work culture also attract top talent.
Building a successful business often starts with a small idea or passion project. Marcia Kilgore, the subject of this episode of How I Built This, didn't set out to become a serial entrepreneur. She was a personal trainer who gave facials on the side. But her business evolved organically, leading her to create five companies, including Bliss Cosmetics and Fitflops. Another key takeaway is the importance of planning and research in entrepreneurship. Companies like Home Depot and Rent the Runway spent significant time and resources researching the market before launching, which increased their chances of success. Lastly, the NSA emphasized the value of innovation and a supportive work environment in attracting top talent. Overall, this episode highlights the importance of following your passions, planning ahead, and creating a positive work culture to build a successful business.
From adversity to personal growth and opportunities: Adversity can lead to unexpected opportunities and personal growth. Determination and resilience can help navigate financial challenges and pave the way for success.
Adversity and challenges can lead to personal growth and unexpected opportunities. The speaker's story illustrates this through her experiences in Saskatoon, where she discovered bodybuilding and teaching aerobics as a teen to earn money and gain control over her financial situation. Later, her determination to attend Columbia University led her to New York, where she unexpectedly became a personal trainer for a film director. Despite financial setbacks, her resilience and commitment to fitness helped her navigate these challenges and pave the way for a successful career.
Starting a business without a plan can lead to unexpected challenges: Not having a clear plan for your business can result in long hours, lack of self-care, and financial struggles. Consider your long-term vision to prepare for the ups and downs of entrepreneurship.
Starting a business without a clear plan or specific goals can lead to unexpected challenges and hardships. The speaker, a personal trainer, shared how she accidentally fell into her career and didn't have a long-term plan. She worked long hours, lacked sleep, and even developed acne due to her hectic schedule and lack of self-care. A particularly memorable experience was getting a disappointing facial at a high-end spa, which made her determined to learn skincare and offer facials to her personal training clients. This side business not only helped her financially but also led to a sense of fulfillment and personal growth. However, it all started without a well-thought-out plan. It's essential to consider the long-term vision and be prepared for the ups and downs of entrepreneurship.
Starting a business through word of mouth and offering valuable services: Offering a valuable service, putting in extra effort, and letting word of mouth grow your business can lead to attracting high-profile clients.
Starting a business can begin organically through offering a service to a specific group of people, and word of mouth can lead to expansion and attracting high-profile clients. Karim's journey as a personal trainer and facialist started when he gained a reputation for clearing up bad skin among young models. He started offering facials in his apartment and eventually rented a small studio. Through hard work, thoroughness, and dedication, he gained a reputation and attracted high-profile clients such as Uma Thurman, Nicole Kidman, and Demi Moore. His success came from offering a valuable service, putting in extra time, and letting word of mouth grow his business.
From small beginnings to a successful business: Belief in a business idea, determination, and consistent revenue can lead to successful expansion despite lacking prior experience or role models.
Starting a business from scratch can be a viable career path when demand for your services becomes high. The speaker, Marcia Kilgas, shared her experience of becoming a successful business owner in the beauty industry. She started offering facials out of a small space and was soon inundated with requests, leading her to hire and train others. Her business, Let's Face It, grew rapidly, and she eventually opened a larger spa called Bliss in 1996. She funded the expansion herself, relying on the consistent revenue from her full bookings. The determination and belief in her business idea, despite lacking prior business experience or role models, were key factors in her success. The long waiting lists and dedication of her clients during challenging circumstances like a major snowstorm further solidified her commitment to providing high-quality facial services.
Identifying a gap in the market for a unique spa experience: Determination and a unique business concept can attract a diverse range of customers and build a successful company
Marcia Kilgore's success story with Bliss began when she identified a gap in the market for a non-judgmental spa experience with enjoyable music and egalitarian treatment for all clients. Her determination and unique business concept attracted a diverse range of customers, from celebrities like Madonna to secretaries and students. The unexpected publicity from an article about a Swiss oxygen cream they sold helped cover construction costs and solidify Bliss's presence in the market. Marcia's ability to create businesses that catered to her personal preferences and filled unmet needs allowed her to build a successful company and eventually start several more. It took grit, determination, and a unique vision to turn Bliss into a thriving business, and Marcia's story serves as a reminder that successful companies don't happen overnight.
Embracing Technology and Strategic Partnerships Boost Business Growth: Technology like AI and design tools can enhance teamwork, productivity, and decision-making. Strategic partnerships can provide financial resources and allow focus on growth.
Technology, specifically AI and design tools, can significantly enhance teamwork, productivity, and decision-making in businesses. Atlassian's AI-powered software, like Jira and Confluence, can help teams gain insights from data, eliminate menial tasks, and make informed decisions. Meanwhile, tools like Canva can help create visually compelling presentations and documents. Marcia Lewinson of Bliss also demonstrated the power of expansion and partnerships when she sold a significant stake of her business to LVMH for a large sum of money. This allowed her to offload financial responsibilities and focus on growth. Overall, embracing technology and strategic partnerships can lead to impressive results and accelerate work processes.
Money doesn't define who we are: Sudden wealth doesn't change our core values or passions, but new leadership may not share our priorities and can lead to moving on to new ventures.
Money can change one's perspective, but it doesn't necessarily alter who we are or what we love. The speaker, Marcia Kilgore, shared her experience of suddenly having access to significant wealth and how it didn't fundamentally change her. She could enjoy luxury experiences but still appreciated the simple things. However, when she sold Bliss to LVMH and later Starwood Hotels, she faced challenges with new leadership who didn't prioritize customer service as she did. This led to her taking a break and eventually moving on to create new brands based on her observations of market gaps as a woman.
Identifying market trends and creating successful businesses: Michael Ankersmit identified shifting market trends towards affordable designer products and environmental concerns, which led him to create Soap and Glory. Simultaneously, he noticed the need for an ergonomic shoe and launched Fitflop. His entrepreneurial spirit and ability to harness multiple opportunities allowed him to build two companies.
Michael Ankersmit, the founder of Soap and Glory and Fitflop, identified trends in the market and used them to launch successful businesses. He noticed a zeitgeist shift towards affordable designer products and environmental concerns, which led him to create Soap and Glory, a line of affordable personal hygiene products with eco-friendly packaging. Simultaneously, he identified the need for an ergonomic shoe while juggling multiple responsibilities, leading him to launch Fitflop, a company producing shoes with optimal alignment. Ankersmit's entrepreneurial spirit and ability to harness multiple opportunities at once, as discussed in the book "Originals," allowed him to build two companies organically, with one serving as a backup in case the other did not succeed.
From unappealing prototype to successful business: Believing in an idea, taking risks, and staying innovative can lead to business success despite initial setbacks.
Determination and innovation can lead to success, even when initial prototypes may not meet aesthetic expectations. The speaker, Marcia Kilgore, shared her experience of developing an ergonomic shoe line, Fitflop, despite the unappealing appearance of the first prototype. She persisted, seeking out manufacturing partners and retailers, eventually securing a significant order from Bath and Body Works. This success fueled her entrepreneurial spirit, leading her to launch multiple businesses in various industries, including cosmetics. Her latest venture, Beauty Pie, offers consumers access to high-end cosmetics at factory costs, inspired by her enjoyment of receiving free cosmetics from labs. Through her experiences, Marcia demonstrates the importance of believing in an idea, taking calculated risks, and staying innovative to achieve business success.
Entrepreneur Marcia Kilgore's Companies as Sources of Personal Fulfillment: Marcia Kilgore, driven by thrill of starting new businesses and making people happy, attributes her success to hard work, intelligence, understanding human brain, and seizing opportunities.
Marcia Kilgore, the entrepreneur behind several successful businesses, including Beauty Pie, views her companies as sources of personal fulfillment and companionship. She is driven by the thrill of starting something new and making people happy. Her competitive nature and above-average intelligence, combined with hard work and some luck, have contributed to her success. She believes that understanding how the human brain works is crucial for entrepreneurs, as it can help them make sound decisions and avoid unnecessary insecurities. While she acknowledges the role of luck in her achievements, she also emphasizes the importance of being good at what one does and making the most of opportunities. Overall, Marcia's mindset is characterized by a relentless pursuit of innovation and a deep connection with her customers.
The Power of Self-Belief and the Right Tools for Entrepreneurial Success: Self-belief in one's worth and capabilities is crucial for success. Utilize tools like Squarespace for building and growing a business, and never underestimate the power of storytelling through platforms like Audible.
Believing in one's worth and capabilities is crucial for success. Marcia Kilgore, a serial entrepreneur, emphasized this notion, sharing her experiences of creating multiple companies, including Bliss, Spies, Soap & Glory, Pitflops, Ergonomic Shoes, Beauty Pie, and Soapour Dooper. She encourages individuals to work hard and seize the success that comes with it. Additionally, she shared an upcoming project, which she's keeping under wraps for now. Furthermore, the discussion highlighted the importance of having the right tools to build and grow a business. Squarespace, an all-in-one platform for creating websites, branding, and engaging customers, was showcased as a valuable resource for entrepreneurs. Its features, such as appointment scheduling, customizable email templates, and analytics, make managing a business more efficient. Lastly, the importance of storytelling and entertainment was emphasized through Audible, a platform that offers access to a vast catalog of audio content. Whether it's a thriller, true crime, comedy, or history, Audible caters to various tastes and preferences, making it an essential companion for many journeys. In essence, the conversation underscored the importance of self-belief, having the right tools, and the power of storytelling in achieving personal and professional growth.
The Internet Revolutionized Steve's Remote Control Business: The internet enabled Steve to source and sell remotes on a large scale, making his business scalable in an unexpected industry
The internet revolution played a crucial role in the success of Steve's remote control business. He started selling on eBay in 1998, when the internet was gaining popularity, and discovered a demand for orphan remotes. Steve became a middleman, sourcing remotes from importers and manufacturers around the world, and selling them to businesses like budget hotels. He charges anywhere from 50 cents to $12 per remote and makes about half a million dollars in revenue. The internet enabled Steve to source and sell remotes on a large scale, making his business scalable. This story illustrates how the internet can provide opportunities for entrepreneurs to start and grow businesses, even in unexpected industries.
