Marcia Kilgore on Beauty Pie and FitFlop with Guy Raz | How I Built This | NPR

Transcript

hello and welcome to how i built this resilience edition how is everybody doing happy monday um even though i've been wearing pajamas for the past eight weeks i decided to dress up today because it is fashion and beauty week here on the show um and who better to kick it off than marcia kilgore founder of too many companies actually to name but nota... Read More

Summary

In this video, Marcia Kilgore, founder of several successful companies including Bliss, Soap & Glory, and Beauty Pie, discusses resilience and entrepreneurship during challenging times. She shares insights on how she stays motivated, the importance of connecting with customers, and the opportunities that arise from difficulties.

Questions & Answers

Q: How is Marcia Kilgore coping with the current situation as a serial entrepreneur?

Marcia explains that as a serial entrepreneur, she sees the current situation as an opportunity to focus on the fundamentals of her businesses and to go back to the basics. She believes that a crisis forces entrepreneurs to evaluate the importance of their work and to identify what truly matters in their businesses.

Q: How is FitFlop, Marcia Kilgore's footwear company, doing right now?

FitFlop is facing challenges due to the shutdown of retailers and the cancellation of forward orders. Marcia explains that the company has had to figure out what to do with the excess inventory and has experienced a decline in sales. However, she also mentions that online sales have increased, showing the strength of the brand and the loyalty of its customers.

Q: How has the COVID-19 crisis affected PewdiePie, Marcia Kilgore's cosmetics brand?

Marcia shares that PewdiePie, being a direct-to-consumer brand, has actually seen an increase in new members and online sales. She attributes this to people being more responsible with their disposable income and looking for affordable luxury products during challenging times.

Q: How can entrepreneurs create the same creative magic with teams or clients in the new remote collaboration landscape?

Marcia suggests that storytelling and anticipation are crucial in fostering creative magic in remote collaborations. She emphasizes the need to find new ways to communicate effectively and to be mindful of the audience. Additionally, she advises evaluating and enhancing presentations or materials based on feedback and the new challenges of remote communication.

Q: How can entrepreneurs find platforms or support to brainstorm ideas in the current situation?

Marcia suggests using platforms like Zoom to gather people for brainstorming sessions. She highlights the availability of online resources, such as museum tours and webinars, that can stimulate creativity and provide inspiration. Marcia encourages embracing technology as a means of connecting and supporting one another.

Q: How does Marcia Kilgore stay motivated when things are not going as planned or when her personal life is not particularly motivating?

Marcia explains that staying motivated is a habit that comes from realizing that negative moments are temporary. She advises developing the habit of practicing gratitude, being mindful of one's gifts and blessings, and focusing on personal growth. She also suggests maintaining a positive mindset, practicing self-reflection, and remembering that difficult times are opportunities for learning and growth.

Q: Will the current crisis change the way people consume cosmetics and beauty products?

Marcia believes that some cosmetic brands will likely shift towards a direct-to-consumer model but still charge retail prices to maintain consistency across channels. She points out that the crisis has accelerated the transition to direct-to-consumer shopping and highlights the convenience and affordability of online purchases. However, she acknowledges that the future of retail is uncertain and that product testing and trying on cosmetics may be impacted.

Q: How can entrepreneurs hedge their bets and approach big decisions more cautiously in this environment?

Marcia explains that hedging bets can involve developing a wide range of skills and knowledge within a business to ensure adaptability and flexibility. By being able to handle multiple tasks, entrepreneurs can respond effectively to changing circumstances. Marcia also emphasizes the importance of being open to seeking advice and help, as well as drop the ego to fully explore opportunities.

Q: How can entrepreneurs find points of light despite limited external stimuli during this crisis?

Marcia suggests reframing the idea of limited stimuli by using available technology and resources to seek inspiration and connection. She recommends exploring virtual museum tours, reliable online content, or organizing brainstorming sessions via platforms like Zoom. Marcia believes that opportunities and sources of inspiration can be found even during challenging times and encourages nurturing authenticity and personal connection.

Q: How can entrepreneurs translate lessons learned during this crisis into future success?

Marcia emphasizes the importance of connecting deeply with customers, listening to their needs, and building authentic relationships. As she views this time as an opportunity for reflection and learning, she encourages entrepreneurs to embrace the habit of evaluating and adjusting their approach based on challenges and feedback. Marcia also highlights the value of quality time with family and emphasizes the need to maintain a positive and grateful mindset.

Takeaways

Marcia Kilgore's key takeaways are the importance of connecting with people, focusing on what really matters, taking time to listen and understand, embracing technology to facilitate communication and collaboration, and maintaining a positive mindset. She also emphasizes the significance of authenticity, gratitude, and personal growth in navigating challenges and embracing opportunities.