Podcast Summary: Building a Team That Will Last
Podcast Information:
- Title: Your Next Move
- Host/Author: Inc. Magazine
- Episode: Building a Team That Will Last
- Release Date: December 10, 2024
Participants:
- Host: Bea Dixon
- Guest: Sarah LaFleur, Founder and CEO of MM LaFleur
Introduction
In the December 10, 2024 episode of Your Next Move, hosted by Bea Dixon and produced in partnership with Inc. Magazine and Capital One Business, Bea engages in a profound and candid conversation with Sarah LaFleur, the visionary founder and CEO of MM LaFleur, a women’s workwear clothing company. This episode delves deep into Sarah’s entrepreneurial journey, her strategies for building a resilient team, and the vital role of mental health in leadership.
Sarah’s Journey to Entrepreneurship
Sarah LaFleur begins by sharing her unconventional path to founding MM LaFleur. Initially passionate about international development, Sarah worked extensively in refugee camps in Zambia and South Africa. However, she realized that the nonprofit sector wasn’t her calling, citing a mismatch in personality traits necessary for success in that field.
“I was not cut out for the nonprofit sector, which is a very admirable and needed sector for sure...I thrived in the fast-paced, incredibly scrappy, numbers-oriented business.” [01:55]
At 27, after a brief stint in private equity that didn’t align with her aspirations, Sarah pivoted towards fashion—a field she had not initially considered but found a deep personal connection to, influenced by her mother’s career in fashion.
Founding MM LaFleur: A Customer-Centric Approach
The inception of MM LaFleur was driven by Sarah’s recognition of the inefficiencies in workwear for busy women. She aimed to create clothing that wasn’t just stylish but also practical, addressing real-life challenges faced by working women.
“Working women on average spend two more weeks than men getting ready for the office...MM LaFleur was really started with that in mind.” [09:48]
Sarah emphasizes the importance of viewing the business from the customer's perspective, leading to innovative features like machine-washable and wrinkle-resistant fabrics. This customer-first mindset is further exemplified by their digital magazine, the EM Dash, which fosters a community around the brand.
“Our clothes should be the least interesting thing about you. We're here to support you in whatever work you do.” [12:29]
Navigating the Pandemic: Challenges and Resilience
The COVID-19 pandemic posed significant challenges for MM LaFleur, including store closures and layoffs. Sarah recounts the difficult decision to shut down nine stores and the catastrophic impact of reopening a store in Washington, D.C., during the insurrection.
“The pandemic was brutally hard on our business... our store was off-limits for six weeks.” [14:09]
Despite these setbacks, Sarah highlights the resilience of her team and the shift in consumer behavior towards remote work, which opened new avenues for the brand. MM LaFleur adapted by emphasizing virtual styling appointments and enhancing online services, ensuring they remained relevant and supportive to their customers.
Building a Resilient Team: Strategy and Philosophy
A cornerstone of MM LaFleur’s success is its strong, cohesive team. Sarah discusses her approach to hiring and team-building, prioritizing internal talent and fostering a collaborative environment where executive team members work synergistically.
“I always want the former. That's how I've really approached it. And I think we have an amazing executive team.” [41:36]
Sarah underscores the importance of cultural fit and mutual respect within the leadership team, ensuring that decisions are made for the collective good rather than individual preferences. This philosophy has enabled MM LaFleur to maintain a stable and motivated workforce, even during turbulent times.
Personal Growth and Mental Health in Leadership
Sarah bravely opens up about her personal struggles with mental health, emphasizing its critical role in effective leadership. She shares her journey of seeking professional help, maintaining physical health, and the importance of a strong support system.
“My mental health is everything... I have been working with a psychiatrist for a decade now.” [28:18]
This candid discussion highlights the often-overlooked aspect of entrepreneurship—the mental and emotional toll it can take. Sarah advocates for proactive mental health management as a foundation for making sound business decisions and sustaining long-term success.
Advice for Aspiring Entrepreneurs
Towards the end of the conversation, Sarah offers invaluable advice for budding entrepreneurs. She advocates for financial prudence, suggesting maintaining a side job or hustle to sustain oneself during the nascent stages of a business.
“Get a side job... I never wanted to be panicked about not running out of money.” [47:10]
Sarah also warns against the pitfalls of rapid scaling, advising founders to prioritize internal talent and carefully assess the necessity of external hires. Her emphasis on patience, strategic hiring, and leveraging existing team strengths serves as a guiding framework for building a sustainable enterprise.
Conclusion
In this episode of Your Next Move, Sarah LaFleur provides an inspiring narrative of resilience, strategic team-building, and the importance of mental health in leadership. Her journey with MM LaFleur exemplifies how understanding customer needs, fostering a strong team culture, and maintaining personal well-being are pivotal to enduring business success. Aspiring entrepreneurs will find Sarah’s insights both practical and deeply motivating, offering a roadmap for navigating the complexities of building a lasting business.
Notable Quotes:
- “I thrived in the fast-paced, incredibly scrappy, numbers-oriented business.” [01:55]
- “Working women on average spend two more weeks than men getting ready for the office...MM LaFleur was really started with that in mind.” [09:48]
- “Our clothes should be the least interesting thing about you. We're here to support you in whatever work you do.” [12:29]
- “The pandemic was brutally hard on our business... our store was off-limits for six weeks.” [14:09]
- “My mental health is everything... I have been working with a psychiatrist for a decade now.” [28:18]
- “Get a side job... I never wanted to be panicked about not running out of money.” [47:10]
This episode serves as a rich resource for entrepreneurs seeking to build resilient teams, navigate unforeseen challenges, and prioritize mental health, all while staying true to their mission and customer base.