#90 Apolo Ohno: Process Versus Prize
Knowledge Project Podcast Notes Key Takeaways The main problem in apparel: finding clothes that fit customers and that customers love“Nobody was solving that core problem of how do I actually identify the clothes on this planet, out of the millions of things out there, that you specifically are going to love” – Katrina Lake Price and speed of delivery are important in the apparel industry, but at the end of the day people want clothes that they like:“Yes, price, speed, and delivery are important in apparel but actually more important is it right for you? Does it fit?” – Katrina LakeStitch Fix is solving this problem by using data science to offer clothing recommendations that people will likeStitch Fix wants to become your personalized styler:“What we’re really trying to do is get to this personalized storefront for every person” – Katrina LakeStitch Fix was cash-flow positive in 2014 and went from $0 to $1 billion in 5 years, and Katrina still had trouble raising money from VCs“I was forced to be capital efficient. I had to make the most of our balance sheet in order to survive.” – Katrina LakeTwo of Katrina’s superpowers as a founder was her ability to recruit amazing people to come work at Stitch Fix and her authentic leadership style:“Absolutely recruiting, I never, ever, ever would have been able to do all of the things that we did without having the incredible people on the team” – Katrina Lake“The only thing that I had was this ability to be authentic and connect with people and to bring people along”Read the full notes @ podcastnotes.org8x Olympic medalist and short-track speed skating legend, Apolo Ohno chats about his origin story, recovering from multiple failures, mental training, confidence, and leaving it all on the ice. -- Want even more? Members get early access, hand-edited transcripts, member-only episodes, and so much more. Learn more here: https://fs.blog/membership/ Every Sunday our Brain Food newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/ Follow Shane on Twitter at: https://twitter.com/ShaneAParrish