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Token CEO

How Risk Helped Kendra Scott Build A Billion Dollar Company

Token CEO

Lemonada Media

Business, Management

4.24K Ratings

🗓️ 22 September 2022

⏱️ 52 minutes

🧾️ Download transcript

Summary

Erika sits down with the executive chair woman of Kendra Scott, LLC., Kendra Scott herself. They discuss how failure has brought them to where they are today, taking risks and how Kendra built a billion dollar company. Her new book “Born to Shine: Do Good, Find Your Joy, and Build a Life You Love” is out now! Additionally, Erika gives her take on the Barstool Upfront from last week and announces that she will be leaving the WWE board of directors to focus on her work with Barstool Sports and Penn Entertainment. As always, Erika answers your questions, this week specifically about taking risks, and closes the show with her thoughts on the latest headlines. Enjoy! (00:03:13) Boardroom (00:12:59) Kendra Scott (00:34:49) Q&A (00:46:31) Closing Thoughts


You can find every episode of this show on Apple Podcasts, Spotify or YouTube. Prime Members can listen ad-free on Amazon Music. For more, visit barstool.link/tokenceo

Transcript

Click on a timestamp to play from that location

0:00.0

Hey, token CEO listeners, you can find every episode on Apple podcasts, Spotify or YouTube.

0:06.9

Prime members can listen ad-free on Amazon music.

0:11.0

Every single thing in my life that I've gone through, the hardest things from divorce,

0:17.0

failing businesses, I had to go through those things to get to this next most amazing

0:23.5

stranger in my life. This is a token CEO podcast. I'm Erica. I am the CEO of Barstool Sports.

0:31.2

We have a presenting partner, which I'm so fired up about. I met with these guys last week or

0:36.8

the week before. They are awesome. They're called Omega Accounting Solutions. Why do you need

0:43.3

Omega Accounting Solutions? Great question. If you're like me and it comes to looking at your

0:48.5

P&L and you have a small business, that's the last thing you want to do. You want to think about

0:53.5

making your product. You want to think about building your partnerships. You want to think about

0:57.6

getting your people and your employees to be at their very best. You want to think about the

1:01.9

future of your business. You want to sleep for 15 minutes. Maybe you shove time for lunch in

1:07.6

there, but the last thing you want to do is think about your accounting. One of the biggest things

1:12.8

that we learned during the pandemic, sorry, I have to burp. One of the biggest things we learned

1:19.2

during the pandemic, when we were talking to thousands and thousands of small businesses,

1:25.2

is that small businesses have little to no infrastructure to deal with their finances.

1:31.1

Now, that's probably a gross generalization and there's probably some businesses out there that

1:35.0

kick ass at it. But by and large, if you're running a hair salon, if you're running a daycare,

1:40.8

if you're running, if you're a therapist, if you're a manicurist, if you're running a fledgling

1:47.4

little sports media company, it's really easy to not stay current on what's happening around your

1:54.0

finances and in particular, what's happening around tax law. Now, generally, I don't care about

1:59.0

tax law, but here's why you should. If your business suffered significant financial losses or had

...

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