Ep 429: The Messy Truth Behind Building A Multi-Million Dollar Business

HerMoney with Jean Chatzky

When we talk about the question of whether women can have it “all,” successful careers, thriving marriages, and families, the messy truth is often, no, at least not all at the same time.

Alli Webb, founder of Drybar found that out the hard way when her business blew up seemingly overnight. She shares what fame, attention, and obsession with building a brand cost her and how she found herself again in the wake of the fallout.

In Mailbag, a listener asks if using roadside assistance too many times in a year can cause an increase in her car insurance. Another listener has a question about whether or not she should stay in her marital home post-divorce or sell it and build up her savings for retirement.

Chapters:

0:00: Introduction

03:13 Drybar: From Mobile Business to Brick-and-Mortar

08:14 The Rapid Growth of Drybar and the Cost of Success

21:55 Success and How It Impacted Alli’s Relationships

27:19 Deciding to Let Go of Drybar

31:26 Finding Validation from Within

31:32: Transition to Mailbag

34:58: Listener Question: Auto Insurance and Roadside Assistance

37:29: Listener Question: Mortgage vs. Savings Post-Divorce

Takeaways:

• Figuring out your greatest passions can lead to a successful business idea.
• Scaling a business quickly can be both exciting and overwhelming.
• Finding balance between work and personal life is crucial for happiness and well-being, especially as an entrepreneur.
• Excellent customer service and creating a welcoming environment are key to building a loyal customer base.
• Success in business can sometimes lead to problems in personal relationships, and it's important to recognize and address these issues.
• Learning to look inward and understand oneself is crucial for personal growth.
• Having a community of like-minded entrepreneurs can provide support, guidance, and solutions to common challenges.
• Going through difficult times can lead to self-discovery and personal growth, ultimately leading to a happier and more fulfilling life.

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The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney.

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