#209: Tom Nolan, CEO of Kendra Scott — Connection creates results

How Leaders Lead with David Novak

David Novak Leadership

Entrepreneurship, Business, Management

4.8 • 596 Ratings

🗓️ 17 October 2024

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today’s guest is Tom Nolan, the CEO of Kendra Scott, a jewelry brand that’s been crushing it lately—posting nearly double-digit growth for 44 consecutive months and counting. But as you’ll hear today, it’s not just about the results. It’s about how you treat people along the way. In this episode, you’ll see how to make stronger connections with both your customers and your team members. And you’ll see how it can drive meaningful results in your business. You’ll also learn: A weird advantage of not being passionate about your product What most leaders miss about customer satisfaction Must-hear advice for anyone who works with a founder Why innovation doesn’t have to mean chasing shiny new objects Take your learning further. Get proven leadership advice from these (free!) resources: The How Leaders Lead App: A vast library of 90-second leadership lessons to stay sharp on the go Daily Insight Emails: One small (but powerful!) leadership principle to focus on each day Whichever you choose, you can be sure you’ll get the trusted leadership advice you need to advance your career, develop your team, and grow your business.

Transcript

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0:00.0	What we see is a byproduct of caring about our customer.
0:03.6	Like our customers are our boss, right? Like if we don't treat her the right way, if we don't make decisions based on that person the right way, then we lose. And with that mentality, it's how we approach everything. So retail thinks about it that way. And as a result of that, we have about as high a conversion rate as you can have in the consumer retail world. I mean, our conversion rates and our best stores are north of 40%.
0:24.0	And that's unheard. of that, we have about as high a conversion rate as you can have in the consumer retail world.
0:21.4	I mean, our conversion rates and our best stores are north of 40%. And that's unheard of. And it's
0:25.4	because we don't focus on it. Like, you know, the irony is we focus on making connection
0:29.6	with somebody and it works.
0:40.6	Welcome to How Leaders Lead.
0:48.8	I'm David Novak, and every week I have conversations with the best leaders in the world to help you become the best leader that you can be.
0:56.1	Today, I'm sitting down with Tom Nolan, the CEO of Kendra Scott, a popular jewelry brand that's been crushing it lately. Forty-four months of nearly double-digit growth. And guess what? Tom's
1:03.7	been the CEO for 45 of those months. So yeah, this guy knows how to get results.
1:11.2	But here's the thing.
1:12.8	Tom's not the kind of leader who bulldozes his way to the top.
1:16.7	For him, it's all about making real connections with his team and his customers.
1:22.1	And when you focus on that, the results tend to take care of themselves.
1:26.1	This episode might just be the mindset shift that
1:29.1	you need to start building those connections and getting real results. So here's my conversation
1:35.0	with my good friend and soon to be yours, Tom Nolan. You know, when we first met, we talked about our mutual belief in the power of recognition.
1:49.7	When did you get sold on recognition, you know, as a real business driver?
1:55.2	Tell us a story.
1:56.5	Well, I mean, look, I would say just as a young person grown up in business, I always felt like
2:02.0	I had a voice and wasn't always heard, right?
2:05.2	So when it was heard, it made me feel really good.
	...

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