Episode 125
September 27, 2022

From Funder to Founder

with Amy Errett, Founder and CEO of Madison Reed

About this episode

Amy Errett joins the show today to chat about her journey to becoming the Founder and CEO of Madison Reed, the hair color company revolutionizing the way women color their hair. Amy shared about her experience as a child being the peacekeeper of the family, her experience working as an investor at True Ventures and Mavron Ventures, how she came up with the idea for Madison Reed, and why she runs things by her astrologer first, before making any significant decisions.

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In This Episode You’ll Hear About:

  • (00:50) More about Madison Reed, the hair color company revolutionizing the way women color their hair using proprietary color matching technology, and a team of on-call colorists, Madison Reed helps women choose the perfect shade of hair color delivered straight to your door, or you can visit one of their 60 hair color bar locations throughout the U.S.
  • (2:35) What it was like growing up in Philadelphia as the youngest of three with parents of divorce and always finding herself as the peacekeeper of the family
  • (12:20) How she feels about failure, that it’s your best friend and something to learn from
  • (16:00) Why she believes some of her flaws are and why she’s excited about them 
  • (21:00) Why having an astrologer in her life helps her
  • (26:00) Her career journey from being a financial analyst, to working at Ture Ventures and Mavron Ventures as a Venture Capitalist, to coming up with the idea for Madison Reed
  • (35:00) How she became obsessed with the idea for Madison Reed and took her dreams and started making them a reality 
  • (41:00) How they handled having to close their stores due to COVID, but their online sales skyrocketed
  • (45:00) Some of the big challenges she didn’t see coming, even with her background and experience in VC
  • (58:51) The final fundraising and entrepreneurial advice she has for aspiring founders and those struggling with raising funds

To Find Out More:

https://www.madison-reed.com/ 

Quotes:

“I grew up thinking that I want to have groups of people that get together to do extraordinary things.”

“We’re all flawed and recovering from something, and when you recognize that, then you can start to find the path in your life that works for you.”

“Life is an inside job and the entire game at the end of the day will be how much joy, gratitude, and love that we spread and receive.”

“Possibilities of crazy ideas can actually disrupt an entire industry.”

“Everything you need to know is why you're hooked into the rage you have.”

“The infrastructure of scaling culture that is different and unique and disruptive is really hard when you grow.”

“I’m in this to win it for the company, not myself.”

“As a business leader, you have an obligation to better your employees’ lives.”

“The big trip up for most people is being naive about marketing. Whether it's the cost, the scale, what it takes, who do you have? The other part is, you need to show up with a team and you need to show up. So it's always product, size, and people. Once you can get that right, then you're gonna find there's plenty of money.”

Read the transcript

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