476: The Real-Life Girlboss: How I Built Nasty Gal to a $100M Business

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 5 December 2023

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nasty Gal went from an eBay side hustle to a business doing $100M in sales in under a decade. Behind it was the most famous “Girlboss” in America, Sophia Amoruso. She had no business experience, management training, leadership coaching, background in logistics, business financials, or running an online shop. Somehow, she built a business to heights few entrepreneurs ever reach, owning an extremely profitable clothing empire and finding herself on the cover of Forbes. But then, Nasty Gal went bankrupt. What happened? Sophia joins us on the show today to explain it all. She’ll share her full financial story, which included watching her parents go bankrupt, eventually selling her business, and seeing it suffer the same fate. From entrepreneurial mistakesto risks Sophia took that led her to massive financial success, Sophia has seen both success and failure, and she has priceless insight to offer any aspiring entrepreneur or investor. If you want to build a business, invest in one, or start a profitable side hustle, Sophia can help. She’ll also uncover what led to Nasty Gal’s downfall, the pressure “Girlboss” put on her, and why growing too fast can kill your financial future. In This Episode We Cover How Sophia turned a thrifting side hustle into a nine-figure business Hiring your first employee and why you DON’T want to over-scale your side hustle Venture capital, investing in businesses, and when you should give up equity Going bankrupt and rebuilding yourself after a financial failure What Sophia is investing in NOW that’s helping her build even greater wealth Advice for new entrepreneurs and anyone who wants to sell online And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Here’s What It Takes to Succeed as an Entrepreneur Building a Massively Profitable Business Around Your Passions Click here to check the full show notes: https://www.biggerpockets.com/blog/money-476 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome my dear list news to the BiggerPockets Money Podcast where we interview Sophia Amruso and talk about how she built her first business,
0:07.5	Nasty Gal, to astronomical success, how that business ended and how she was able to reinvent herself in her new businesses.
0:15.0	Hello, hello, hello, my name is Mindy Jensen and joining me today is my senior producer Kaylin Hope Bennett.
0:20.0	Hi Mindy, it's so good to be here.
0:22.0	Well, I'm here like every day, but just on camera this time.
0:26.7	It's so good to have you in front of the camera this time. So Kaylin, we have an awesome show today.
0:32.8	Sophia Amaruso is the founder of Nasty Gal.
0:36.9	And we are going to talk to her about the rise
0:40.3	and ultimate bankruptcy of that business and how she pivoted to the new companies that she's running today.
0:47.5	We're also going to talk about her groundbreaking book, Girl Boss,
0:51.5	and we're going to cover a lot of other topics too.
0:55.0	Yes, a lot of other topics in between.
1:00.0	I think that this is a really special show for us.
1:02.0	Sophia was definitely an inspiration for a lot of young women
1:06.3	in my age group.
1:07.6	And so I think it's really powerful that we have her on the show today
1:10.6	where she's actually gonna tell her story about how this
1:13.2	business functioned what went wrong what went right I just I think it's going to be a
1:18.4	really great show and some great learning moments for our audience today.
1:21.6	Yep selling on eBay, venture capital, we've got, we've got so many things to discuss on the
1:29.5	like meteoric rise of her company Nasty Gal.
1:33.4	And it is a really, really fun episode.
	...

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