A Quote by Katrina Lake
When I founded Stitch Fix, I wanted to create a company that I would want to work at for the rest of my life.
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I founded Stitch Fix to take on a very human problem: How do I find clothes I love? Like most people, I want to look stylish and feel my best. Spending a day at the mall or devoting hours of time to sifting through millions of products online is time consuming, overwhelming, and neither effective nor enjoyable. I knew there had to be another way.
A lot of the reason I wanted to become an entrepreneur and avoid working for others is that you get to create the world you want to live in and the company you want to work for, and I've loved that. It's a part of entrepreneurship that women should really embrace.
I tried to build a company my father would have been proud to work for, that he would have looked back on and said, 'That's the company that honoured me, even though I don't have an education'. I wanted to build a company that had a conscience.
And if you're going to be a leader, you know what I ask myself? Would I want to work for you in this job? Would I let my children work for you? Would I give you this job if I wasn't there to provide oversight? If you went to run another company, would I, as an investor, invest in that company?
I can sit across the table from somebody that worked with me and my company that I founded and say, 'Here are five things I don't like about what you're doing, and we have to fix it.'
The business model piece is we're always talking about competing more effectively. If you're starting a company or career you don't want to compete. You want to create a monopoly. We want to invest in a company that has a good plan to create a monopoly.
The reality is the only place a company's culture is going to start and end is at the beginning of that company. And it always starts with the founders. So if you can't create an environment of founders and founding employees who are going to represent the company you want, then you are never going to get there. You have to look at your own network and find what you are missing. So if you don't have a female or someone who has an international perspective or a person with a bio degree, but those perspectives matter to the firm or product you want to create, then it's never going to work out.
One of the reasons I wanted to start a company is because I wanted an environment that I wanted to work in. I wanted people to be able to have a life - for it to be OK to leave for a lacrosse game or a doctor's appointment. So I think women do work differently; it's important to have both men and women. They offer different things.
We need to learn to work with political systems that are not perfect instead of taking the view: let's first fix the politics, then we'll fix the rest.
I would never want to take away the option of sex work from someone, but I would want to create more options so that everyone can make the decision whether they want to do sex work or they don't want to do sex work, and that people who do sex work can do it safely.
I want to live and work in Chicago for the rest of my life. You know when you were growing up and you wanted to become president? What I want now is to be mayor of this damned town in ten years.
Alexander, Caesar, Charlemagne, and I have founded empires. But on what did we rest the creations of our genius? Upon force. Jesus Christ founded his empire upon love; and at this hour millions of men would die for him.
If you work at an insurance company that sells premiums you wouldn't even sell to your mother, how happy would you feel to work there? It's going to eat you up. It might last a few years, but it doesn't attract the best people, and it certainly doesn't create the energy and engagement you need to be a long-term performing company.
The idea of going somewhere where the salesperson is able to personalize the retail experience for you doesn't work anymore. Stitch Fix is an opportunity to provide a service for people who are looking for more than just buying the cheapest thing with one-day shipping.
Whenever I talk to people who founded a company, I often like to ask the prehistory questions 'When did you meet? How long have you been working before you started the company?' A bad answer is, 'We met at a networking event a week ago, and we started a company because we both want to be entrepreneurs.'
Did I pray for death? I did one time. I wanted to die so badly. And I didn't want to die. I wanted to rest, you know. And I knew the only rest I would find is in death.
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