54: Rock-Bottom to Ringing the Bell with CEO Shawn Nelson: Chapter 11 Bankruptcy to Going Public with Lovesac and All the Leadership and Life Lessons He's Learned

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Education

4.9 • 1.6K Ratings

🗓️ 17 February 2020

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

As a teenage kid fresh out of high school, Shawn Nelson came up with the idea of making his own bean bag with foam that caught on like wildfire across the US within a few years. As his business LoveSac took off, he also won a million dollar investment from Richard Branson on the hit TV show Rebel Billionare. Like many businesses that grow super quickly, LoveSac hit a rock bottom in those early years as they filed for Chapter 11 bankruptcy. Shawn explains to me what it was like to stick with his business and rebuild, the lessons he learned in leadership and overcoming adversity, and what they had to do to build all the way back up to the point of going public in June of 2018. He explains why LoveSac is now totally focused on sustainability and helping families grow with sactionals that will literally last them a lifetime. Shawn shares with me some of his personal values that he's established over the years too, why being a family man is the most important thing to him and how he manages to make the entire LoveSac organization feel like family too.

Show Notes:

Shawn’s blog DFL Group (Designed For Life) https://dflgroup.org/

Lovesac’s page https://www.lovesac.com/

Shawn’s Vlog https://www.youtube.com/channel/UCFy8VVTRnCGrWtF3n_rvVqA

Instagram @shawnoflovesac https://www.instagram.com/shawnoflovesac/?hl=en

FB https://www.facebook.com/ShawnOfLovesac/

Twitter @shawnoflovesac https://twitter.com/shawnoflovesac?lang=en

Shawn’s book recommendations:

Good to Great by Jim Collins https://amzn.to/2uESEvf

The Advantage by Patrick Lencioni https://amzn.to/2tRwoOh

Purple Cow by Seth Godin https://amzn.to/31Mblco

Psycho-Cybernetics by Maxwell Maltz https://amzn.to/37m6e47

The Accidental Superpower by Peter Zeihan https://amzn.to/37n3aoj

Produced by Dear Media

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Transcript

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0:00.0	Your first great love story is free when you sign up for a free 30-day trial at audible.co.
0:05.5	U.K.-slash-wondery. That's audible.com.uk-slash-wondery.
0:11.3	As a teenage kid fresh out of high school, Sean Nelson came up with the idea of making his own beanbag with foam that caught on like wildfire across the U.S. within a few years.
0:21.8	As his business, Love Sack took off, he also won a million dollar investment from Richard
0:26.4	Branson on the hit TV show Rebel Billionaire. Like many businesses that grow super quickly,
0:31.6	Lovesack hit a rock bottom in those early years as they filed for Chapter 11 bankruptcy.
0:36.9	Sean explains to me what it was like to stick
0:38.7	with his business and rebuild, the lessons he learned in leadership and overcoming adversity,
0:43.6	and what they had to do to build all the way back up to the point of going public in June of 2018.
0:49.0	He explains why Love Sack is now totally focused on sustainability and helping families grow with
0:54.4	sectionals that will literally last a lifetime. Sean shares with me some of his personal values
0:59.7	that he's established over the years too, why being a family man is the most important thing to
1:04.6	him and how he manages to make the entire Lovesack organization feel like family too.
1:11.6	You guys, today I have a really awesome guest who is a very important person in the world of
1:19.1	CEOs, and he has done a lot of cool things with this invention that I'll let him kind of talk
1:24.6	about how this was cooked up one day. But I've known him for a long time.
1:30.0	He married a good friend of mine who I studied piano with for years and years and still
1:34.7	vividly remember going to their wedding reception and how you pulled this rabbit out of the
1:40.3	hat by giving Tiffany a piano at your wedding reception. That was very memorable and
1:45.3	just a really, really good kind person. So Sean Nelson, CEO of Love Sack is here with me today.
1:52.6	You want to say hi, Sean? Yeah, great to be here. Thanks so much, Corinne. Yeah, thanks so much
1:57.5	for taking the time to be here. Sean is someone I've really admired, not only because he has grown so much of just a hugely
	...

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