TLDR;
In this episode of the Mel Robbins Podcast, Mel interviews Emma Grede, a successful entrepreneur and judge on Shark Tank. Emma shares her journey from a challenging upbringing in East London to co-founding billion-dollar companies like Good American and SKIMS. She emphasizes the importance of taking responsibility, managing one's thoughts, pursuing excellence over perfection, and the value of hard work. Emma also discusses her experiences with failure, the significance of building strong relationships, and the necessity of adapting to technological advancements like AI.
- Taking responsibility and managing thoughts are key to success.
- Pursue excellence over perfection by focusing on internal effort rather than external validation.
- Hard work and continuous learning are essential for achieving long-term goals.
- Embrace AI and adapt to technological changes to stay relevant in any industry.
Meet The Guest [0:00]
Mel Robbins introduces Emma Grede, highlighting her success as a judge on Shark Tank and co-founder of billion-dollar companies. Emma believes that taking responsibility for oneself and carefully managing one's thoughts are crucial for achieving success. She emphasizes that life aligns when these two principles are combined, allowing for purposeful action and the manifestation of desired outcomes. Emma's journey serves as a blueprint for what can happen when individuals take ownership of their lives and mindsets.
Emma’s Story as a 17-Year-Old College Dropout [4:15]
Emma recounts her upbringing in East London, raised by a single mother as the oldest of four girls. She describes her childhood as challenging, marked by financial struggles and a sense of responsibility for her younger sisters. This experience instilled in her a drive to escape her circumstances and pursue a different life. Despite facing difficulties in school due to dyslexia, which was diagnosed later in life, Emma developed a strong work ethic and a determination to succeed. At 16, Emma left home and enrolled in the London College of Fashion, but dropped out at 17 due to financial constraints.
How to Get Unstuck and Take the First Step [11:53]
Emma emphasizes that leaving a difficult situation doesn't mean abandoning one's roots. She advises listeners to embrace their background while striving for a better future. Emma stresses that success requires hard work and coupling vision with action, not just wishful thinking. She shares that she wants to impact people and figure out how to create more opportunities for others to succeed.
Why There’s No Secret to Success [18:46]
Emma underscores the importance of excellence in all endeavors, regardless of how small or insignificant they may seem. She believes that how you do anything is how you do everything, and taking pride in every task attracts positive attention. Emma shares a story about Terry Crews, who, after leaving the NFL and facing financial hardship, took a job as a custodian. Crews maintained a positive attitude by imagining how he would sweep the floor if he were being paid a million dollars to do it.
Pursuing Excellence Over Perfection [27:03]
Emma distinguishes between excellence and perfectionism, stating that perfectionism is driven by external validation, while excellence is about internal effort and personal standards. She advises focusing on one's own version of excellence, based on personal background and identity, rather than comparing oneself to others. Emma emphasizes the importance of self-reflection and honesty in this process, as comparison leads to dissatisfaction.
The Mindset Reframe That Emma Lives By [32:19]
Emma shares her personal rule of thirds, which helps her maintain balance and perspective. She explains that in any challenging endeavor, one-third of the time will be enjoyable, one-third will be okay, and one-third will be terrible. Accepting this reality helps manage expectations and prevents discouragement during difficult times. Emma also advises young people to avoid rushing through life, emphasizing that life happens in chapters and that it's okay for progress to be uneven.
How to Stay Motivated When Your Job Isn’t Your Dream [37:31]
Emma advises those in unfulfilling jobs to seek out glimmers of usefulness and value in their current roles. She believes that every job, no matter how mundane, offers opportunities to learn and grow. Emma emphasizes that her past experiences in various jobs have made her a better leader, as she can appreciate and understand the challenges faced by her staff. She encourages individuals to view their career as a collective of all the things they've learned, with each experience leading somewhere.
Nobody Is Better Than You — And You’re Not Better Than Anyone Else [42:01]
Emma shares the advice her mother gave her: "You're not better than anybody else, but nor is anyone better than you." This instilled in her a sense of confidence and the belief that everyone has something valuable to offer. She encourages listeners to recognize their strengths and bring them to any situation. Emma also highlights the importance of operating with excellence, as it attracts people and creates opportunities.
The Origin Story of Good American [49:05]
Emma recounts her early career, starting with work placements and eventually founding an agency that specialized in brand partnerships. She describes how she identified a white space in the fashion industry, recognizing that most women were underserved. This led to the creation of Good American, a brand that aimed to provide fashionable and well-fitting clothing for women of all sizes. Emma emphasizes that Good American resonated with customers because it made them feel seen, heard, and represented.
Inside the Billion Dollar Pitch That Changed Everything [59:45]
Emma describes her pitch to Chris Jenner and Khloe Kardashian, emphasizing her confidence and thorough preparation. She had spent years building her expertise and researching the market, enabling her to present a compelling vision for Good American. Emma's deep understanding of the industry, combined with her passion for filling a void in the market, made her pitch successful. She highlights that the positive feedback and connection with customers were the most rewarding aspects of launching Good American.
What Nobody Tells You About Overnight Success [1:04:02]
Emma reveals that despite the initial success of Good American, the launch was a disaster due to inventory issues. The brand sold out of its entire stock on the first day, but replenishing the inventory took months. Emma had to personally contact customers to manage expectations and maintain community engagement. This experience taught her the importance of customer service and fundamentally understanding the business.
How to Craft a Business Pitch That Actually Works [1:12:04]
Emma advises aspiring entrepreneurs to focus on storytelling and creating a compelling narrative when pitching their ideas. She emphasizes the importance of practicing the pitch and knowing the competition. Emma also stresses that timing is crucial and that it's better to ask for a dedicated time to pitch rather than forcing it in a social setting. She highlights that a successful pitch requires knowing your stuff and being ready to seize the moment.
Brutally Honest Advice for Aspiring Entrepreneurs [1:15:50]
Emma offers candid advice to those considering starting a business, stating that not everyone is suited for entrepreneurship. She advises individuals to be honest about their risk tolerance and what they are optimizing for in life. Emma suggests that some people may thrive more in a corporate career, where they can have stability and structure. For those who are determined to start a business, she warns against being shortsighted and emphasizes the importance of committing to the venture for the long term.
The One Skill You Must Learn to Stay Relevant [1:21:30]
Emma identifies the ability to adapt to and utilize AI as the most critical skill for staying relevant in the coming years. She encourages everyone to learn how AI can disrupt their industry and to integrate AI tools into their work. Emma stresses that embracing technology is essential for progress and that those who do so will be at the forefront of innovation.
Your Dream Only Works If You Do [1:26:52]
Emma's parting words emphasize the importance of taking action and changing the narrative that holds one back. She shares that her dreams became reality because she decided to get up and make them happen. Emma encourages listeners to persevere through failures and setbacks, knowing that their time will eventually come. She expresses gratitude for the opportunity to share her story and inspire others.