Katrina Lake, founder and CEO of Stitch Fix, mentions that pursuing an idea doesn't necessarily mean it has to work - Pursue it for the potential of success and the learning gained from failure
Lake, who launched Stitch Fix in San Francisco in 2011, is candid in sharing that her time at Stanford did not provide the entrepreneurial inspiration many would assume. “The people I had in my vision, like Mark Zuckerberg and Steve Jobs, were influences that didn’t look like me and didn’t behave like me and, if anything, prevented me from seeing that as a path for myself.
Lake eventually caught the entrepreneurial bug after working in venture capital, where the diverse backgrounds of the entrepreneurs she met with were evidence that she could start her own company if she wanted to. “You don’t look at a resume and say, ‘Oh this person’s qualified to be an entrepreneur.’ I realized that I was just as qualified as any of them.” Lake went on to pursue a master’s degree in entrepreneurship at Harvard Business School, where the idea for Stitch Fix was ultimately born.
Lake held strong to the belief that making personal shopping more affordable and less time-consuming was her opportunity to disrupt the fashion retail industry, and that belief was consistently reinforced by her growing customer base, which now surpasses 2 million. “This is a business that turned profitable within three or four years. The math has always worked.
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