Behind Her Empire Break Free From Perfectionism & Build a Profitable Business Around Your Passion with Kimmy Scotti, Serial Entrepreneur & Investor
Kimmy Scotti is the Co-founder and CEO of the skincare company, Fig. 1, and also the Founder & Managing Partner of the early stage VC firm, Neon.
Kimmy’s been an entrepreneur since she was just 15 years old, turning a jewelry side hustle into a legitimate money-making business that landed her a trunk show at Bloomingdale’s and featured in Project Runway. Over the next 15 years, she built up countless companies in healthcare and fashion while also becoming a venture capitalist at 8VC early in her career.
Most recently, she launched Fig. 1, a skincare brand that delivers science-backed, refillable and priced right skincare products with clinically proven results. She wanted to change the landscape for consumers to have beautiful skin with great product formulation without breaking the bank. They’ve grown their line from direct to consumer to over 3,000 retail, spa and dermatologist locations.
Kimmy is a wealth of knowledge! We get all the insights on her experience with building multiple businesses from the age of 15 to now – and the biggest learnings and takeaways she’s had along the way.
We talk about how she thinks through metrics and unit economics when building brands and investing in companies. She also shares how she built brand awareness for Fig 1 when they launched and the impact partnerships have had on the business. We end on the common mistakes founders make, why perfectionism is only holding you back in life and business, and so much more.
In this episode, we’ll talk to Kimmy about:
* Kimmy's upbringing and the origins of the concept of 'hustle'. [02:42]
* Kimmy displayed a young entrepreneurial spirit by building her jewelry business at the age of 15. [06:17]
* Kimmy's life lessons and early rejections. [09:41]
* How Kimmy developed confidence at a young age. [12:55]
* The importance of starting now: start with one idea and one customer at a time. [16:33]
* College at FIT and family office work. [19:26]
* Evolution of the investment business. [24:01]
* Kimmy identifies situations where someone shouldn’t raise capital. [26:33]
* The skincare brand, Fig.1, and the story of how Kimmy connected with her co-founders. [29:35]
* Fig.1's mission: accessible, sustainable skincare. [32:26]
* Product launch and brand awareness.[36:09]
* Successful partnerships with Fig.1. [37:30]
* How Kimmy and her team strategically manage the capital they've raised. [40:02]
* Kimmy's OCD traits and how she manages them in her business life. [41:34]
* Kimmy's daily life structure: focus versus balance. [46:04]
* Learning when to pause, not when to quit. [51:02]
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Follow Yasmin:
* Instagram: https://www.instagram.com/yasminknouri/
* Website: https://www.behindherempire.com/
Follow Kimmy:
* Website: https://fig-1.co/
* Fig. 1 Instagram: https://www.instagram.com/fig1co/?hl=en
* Kimmy’s Instagram: https://www.instagram.com/kimmyscotti/
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