"If someone comes to you with a gold-plated resume, but does not share your core values, DO NOT hire them.
They could have the greatest experience in the world, but they will be a cancer to your organization and your team." — Kendra Scott
Wow.
So many leaders have shared with me their regret of bringing on the wrong hires, but none have articulated this hard lesson as clearly as Kendra has.
Designer, founder, and philanthropist Kendra Scott started her company with only $500 just three months after her first son was born, and after a first failed business.
The jewelry mogul we all know and love today, had her fair share of "thanks, but no thanks"; starting by going door-to-door to Austin boutiques armed only with a tea box full of her jewelry.
While she never wanted to get into direct retail with the brand, the 2008 financial crisis hit, and the stores she was selling wholesale to ended up shutting down left and right. Bigger department stores were moving in the direction of creating their own private labels, instead of working with designers like Kendra.
This was a wake-up call.
What she calls a "shake the snow-globe moment".
She knew she had to build direct relationships with her customers.
And so she did.
Known for her dynamic use of color and genuine materials, Kendra’s commitment to innovation, quality, and detail won over loyal fans, media, and celebrities alike; defining the 'affordable luxury' category.
Years later, private equity firm Berkshire Partners invested in the company at a valuation of more than $1 billion.
Today, with over 2,000 employees, Kendra Scott boasts a thriving e-commerce business and over 100 standalone stores and has expanded beyond fashion jewelry into the categories of fine jewelry, home décor, and beauty.
And yes, this Christmas, you'll be sure to see long lines of women queuing up all around the stores to have a piece of their own Kendra Scott!
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🎙️For more tactical business strategies by Kendra, tune in to this week's episode on Billion Dollar Moves Podcast. Link in comments🔗
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This was an excerpt from my conversation with Kendra at our last Beyond The Billion® (launched as The Billion Dollar Fund for Women®) convening in Austin brought to you by Brown Advisory.
#womeninleadership #femalefunders #femalefounders #investment #privateequity
Corporate President
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