EP12: How do you Build a Legacy for your Brand? – TOP 3 BRAND ADVICE W/ REBECCA MINKOFF
(From a Business Owner’s perspective)
- Listen in on Rebecca Minkoff’s TOP 3 pieces of advice on Branding and Business. An industry leader in accessible luxury handbags, accessories, footwear and apparel, Rebecca Minkoff’s playful and subtly edgy designs can be spotted around the world on young women and celebrities alike. Rebecca Minkoff, global fashion designer and women’s issues activist has released her first book, Fearless: The New Rules for Unlocking Creativity, Courage, and Success (PRE-ORDER HER BOOK HERE)
- TOPICS WE DISCUSS: Brand Longevity Tips, Loyalty: Consumer + Audience + Community, Talk vs. Action, Audience Growth Overtime, Inside an Authentic Empire, Today Vs. Past Brand Building, Stand out in Today’s Landscape, Conversations of Tomorrow, Capture the Hearts of your Audience, Purposeful Brands, Talk vs. Action,
TRANSCRIPTION:
First tip: 0:04:18.2
Second tip: 0:04:51.5
Third tip: 0:05:13.6
[0:00:00.0] Rebecca: Keeping in mind that the original woman who got my first bag back in 2005 is still with me on the journey today.
[0:00:08.6] Peggy: You’re listening to the Branding Gems podcast, a podcast that’s not just interviews and conversations. It’s to bring you guys the best of the best women in branding and business to answer this question: What are your top three valuable tips and lessons that you learned along the way? And then, we discuss it. To fuel your passion-filled lifestyle business, I promise to bring you the best of the best women in branding and business and together, we can grow and learn from the extracted advice that they provide. I’m Peggy Bree, and let’s get growing!
Hi! I just wanted to quickly mention, if you haven’t already, please, please, please, please follow this podcast on Spotify and subscribe to it on Apple so you can get the episode before it officially, officially rolls out. You can be the first ones to get the episode before it gets announced, and I just wanted to quickly preface this episode and say that I’m so honored to have this guest for today. She is so amazing! She has such an amazing brand. She is such an OG in this branding and business world and in this fashion world, and I’m truly so honored to have her on this podcast and to share her tips to all and just for us to collect all these amazing tips from amazing women in this online and this digital world. I’m so excited, and I hope to see more of us in this top 100 chart on Apple because there’s not a lot of us folks on that chart. Even my friends in this podcast space are not on that chart, so hopefully that we’ll be able to grow the voices in this community and in this podcast so that we can rise up to that space. And anyways, I will talk to you soon! Enjoy this episode. I love this guest so much, and I know that you’ll learn a lot as well. Bye!
Welcome back to another episode of Branding Gems. I’m super excited to have this guest with me today. I can’t wait to share with everyone. So an industry leader in accessible luxury handbags, accessories, footwear, and apparel, Rebecca Minkoff’s playful and subtly edgy designs can be spotted around the world on young women and celebrities alike. Rebecca Minkoff, global fashion designer and women’s issues activist has released her first book, Fearless: The New Rules for Unlocking Creativity, Courage, and Success. Welcome, Rebecca!
[0:02:51.5] Rebecca: Thanks for having me, Peggy!
[0:02:53.1] Peggy: Congrats on your new book, by the way. That’s awesome!
[0:02:56.3] Rebecca: Thank you! I’m excited for it to be birthed. It comes out June 15th, but then obviously, getting the word out there way in advance, and I can’t wait for people to read it.
[0:03:08.7] Peggy: Yes, it is exciting. I love the title already, so it’s an exciting book that I’m sure everyone can find so much value in, so that’s awesome!
[0:03:18.8] Rebecca: Yeah, so I guess the goal with it was as I looked across my 20-year journey, I could have easily told my story and left it at that, but I really wanted to tell my story, but then also give the rules that we had to break and the rules we had to reinvent and the rules that we had to come up with on our own to have success. I really wanted to share those because I feel like there are so many young people out there that are just starting out, and whether it’s fashion or not, these rules definitely apply. And so, how could I ensure that people have a guidebook for success?
[0:03:56.2] Peggy: Mmm. I love that. It’s so true because essentially, paving a way for whoever’s journey and whatever journey they’re in, so I love that you really have a book that tackles all that, so that’s exciting.
[0:04:09.8] Rebecca: Yeah, it is.
[0:04:10.8] Peggy: Okay, so let’s dive right in. What are your top three tips on branding and business? And let’s start with number one.
[0:04:18.2] Rebecca: I think my top three tips would be, first and foremost, you need to have a distinct point of view that really shouts clear, that if someone closes their eyes, they know that that’s your brand or your company or who you are if you don’t have a brand. I think it’s really important, and people use the word “authenticity” a lot, but for you to be your honest, true self, whether you work for someone else or you have your company.
[0:04:51.5] Rebecca: And really, don’t be afraid to say what you stand for, to say what you believe in because the customer is definitely looking for a tribe to belong to. And when they wear your product, it’s them showing that they are part of your club, and so they want to know your values, your beliefs, what you stand for. So don’t be afraid to share.
[0:05:13.6] Rebecca: And I think the third one would be that you can’t be something to everybody, so millions of people say this, but it’s better to have 10 thousand loyal customers who eat, sleep, and breathe you, versus a 100 thousand.
[0:05:32.2] Peggy: Mm-hmm. I love that. So what has been the biggest challenge in growing this empire so that it remains authentic throughout?
[0:05:41.5] Rebecca: I think what we did is, good or bad, I am the same age and sex as my consumer. And so, she’s really grown up, as I launched a company at 26 and I’m now 40, she’s gone through the same journeys that women from those age groups go through at the same time period that I have. So I think as long as we stayed on that beat and we’ve continued to storytell with those experiences, we did great. When we changed course and said, “Now actually, we just want to appeal to Gen Z only,” it didn’t work and I think there’s a way to appeal to both, but I think it’s keeping in mind that the original women who got my first bag back in 2005 is still with me on the journey today.
[0:06:33.2] Peggy: Mm-hmm. So what are some of the tips in ensuring that they are still part of that journey until today, especially when the landscape changes so much?
[0:06:44.6] Rebecca: I think that it’s having a consistent and repeatable brand voice, brand messaging, brand value. And I say that knowing that we haven’t done that right at all times, so seeing the results of when we switched that up. I think that if you have people that are working for you, make sure that they understand what you mean and how to talk too. We’ve definitely also erred in that respect when we’ve hired people that have changed the language or how we would talk to her or how we would show up, and it’s always great to test. You’re never going to get it perfect, so I think we’ve done enough testing and failing to know what works and what doesn’t.
[0:07:32.2] Peggy: Mm-hmm. I love that. So actually, you mentioned a lot about being the true self and being authentic in the way you stand and believe. What are some, I guess, best practices to really showcase that in your brand and making sure that it’s always communicated across, besides being consistent and retelling that story? Is there another way that you think that really has helped?
[0:07:58.7] Rebecca: Hmm. This is a good question. I feel in general that you have to decide, and I’m saying this having decided this far, like some people say, “You need to have it already. You need to know everything that you stand for before you even start your company.” I definitely think that that can be somewhat unreal because it wasn’t real for me. If someone would have said, “What do you stand for?” when I was 25, I would have been like, “I just want to be able to have dinner outside without worrying if I can afford it.” So you wouldn’t have gotten that answer out of me. So, I do think though, now with the ability to start companies is far easier than it was when I started, you can throw up a website in Instagram, launch on Amazon overnight, so I think because it’s so much easier, because the competition, there’s so much more noise, you have to be more clear. So, what are you passionate about personally? Do you love animals? Do you love the environment? Do you want to see more women in the workforce? And then align what you’re doing with your brand that it can either give back to those, it can amplify those causes, it can take part in those conversations. Because I think that the more you can add depth and layering above and beyond a product, you’ll capture the heart of more people who are also looking for something to have deeper meaning.
[0:09:31.8] Peggy: Oh, oh my goodness, that was so good and it’s so true. Because if you are selling a product, there has to be that meaning and depth behind it and purpose behind it so that people can really connect with it and be a part of it. So what is that main purpose for your company and how have people been able to connect with it fully? Because it’s growing to be such an amazing brand and empire.
[0:09:59.7] Rebecca: So I think first and foremost, when I launched, the first bag was the Morning After Bag, there was a card in all the bags that was a number that led to my voicemail, and it was like, “Every girl should have a boy to call,” right? Or “Every girl should have that experience where they went out dancing all night and got to have a fun sleepover.” Not that I’m promoting one night stands, but just the whimsicalness of that time period in New York, Sex and the City was the rage, and it was exciting that you could have that experience. Sleeping, having sex or not, that you could have that sleepover. And so, I think what the brand became was this sort of, “We are the brand that a woman celebrates for her many first experiences.” So the first job, the first raise, when she quits, when she divorces, right? When she has her one night stand or whatever, and so we became that signal of “I’ve made it, and here’s my badge of ‘I’ve made it.’” In whatever way that meant to her. I think as the brand matured, I obviously saw that there were things within society that weren’t equal, that weren’t fair, and that I took for granted because a lot of those situations, I’ve never had to worry and feel like someone was getting paid more than me. My brother and I make the same, or I’ve never had to feel like I was hitting a glass ceiling, but I saw it happening all around me and I thought to myself, “If we’re going to talk until we’re blue in the face about the wage gap and the unequal opportunities for women in the workforce,” I got to do my part and make sure that my daughter, God forbid, doesn’t have these same issues and that my friends get to make 100 cents on the dollar. So that became truly important to me as a foundation pillar of “Not only are we a brand that’s there for your firsts, but we’re a brand that’s out there talking about these issues.” And then it’s not just talk. We’re following it up with action, which I think is really important because a lot of brands can talk, but how do we follow up with action? And I found a collective which is its own subject, but we are educating women, we are giving them resources, we are giving them community. So I think you, as a brand, have to do more than talk. You have to act.
[0:12:29.7] Peggy: Mm-hmm. I love that. And it’s awesome to see the brand really mature with you and really mature with the world and saying the right things to that first ideal brand avatar that was set in the beginning. And it’s awesome to see brands evolve like that because there’s growth that is seen and people really relate to that because it is essential, relatable growth, so I love that so much.
[0:12:58.9] Rebecca: Yeah, I think there’s always room to expand one’s horizons especially as things mature, and I had the luxury of being able to focus on it because I had built a team. I think some people could hear this and go, “I could never do that. I’m staying up all night just working on my collection.” And that’s totally fine for where you are, but could you begin to augment, do you build in “1% of your margin goes to the oceans,” or whatever it is. There are ways to do it that you are still acting, but you’re not going, “How am I going to devote even more time to X if I’m dying right now from overwork?”
[0:13:39.6] Peggy: Mm-hmm. So would it be to have a team, or are there more, I guess, practical tips in terms of saving time or maximizing the time that you have to do other things? Is it building that team or is there more to it?
[0:13:56.6] Rebecca: I think it’s twofold. It’s building the team so that you can, as the founder, focus on those initiatives. But I think, prior to that, is where do you build it in in an existing pipeline? So I keep making an analogy to the environment, but if plastic is important to you, is there a 1% for the oceans that is built into your margin? Is there a place on your site? Are you dedicating X amount of your social posts for that weekly? You know, I think it’s like if you have an important pillar that is an extension of the expression of your brand, not all of it takes time. It just takes thinking creatively about where you’re going to integrate it.
[0:14:40.2] Peggy: Yeah, so I know that you mentioned that things usually take time to build, but there are instances to take that creative leap and spin. So where is that balance for you, and how has that been like?
[0:14:57.8] Rebecca: So I think, again, when you’re starting out, at least for me, all thoughts and efforts were 100% only towards the work. If I were to start a brand today, I would say, “Okay, how am I going to give back or take action on what’s important to me, and where does that show up?” So let’s just make up, for argument’s sake, I’m going to start a skincare brand. I want everything to be sustainable as far as the packaging goes. Do I build into the margin and give back to, again, an environmental agency? Do I say, “Okay, every week I’m going to focus on an email that’s just about the environment and it’s going to be on my social?” Or “Am I going to do an Instagram Live with people that align with my beliefs?” And I think people shouldn’t feel the pressure that they have to, again in this arena, be everything to everyone. There are many subjects I’m not talking about. My focus is women and equality. I’m not going to talk about saving the puppies or certain things. I’m not going to get to that, and that’s not authentic. If I were to talk to you about being vegan, that would be the most controversial thing in the world. I’m killing cows, you know what I mean? So I think that it’s really like, “What are you so passionate about doesn’t align with what you’re trying to create, and how do you just build it into the plan??
[0:16:29.7] Peggy: Mm-hmm. I love that. Oh my goodness. And is there anything that you wish that you started beforehand? Or even now, what are you trying to continually trying to learn more of?
[0:16:41.9] Rebecca: I think I’m always trying to learn more of, sometimes you hit something with a customer and you’re like, “What did we just do?” And I think I’m always just trying to get better at that. We’re learning so much about our customers, especially through the pandemic, and so it’s just everything is changing so quickly now that it’s hard to even take time to sort the data because by the time you’ve sorted the data, her habits have changed.
[0:17:13.3] Peggy: That’s so true. So how has the pandemic been like for you, in terms of pivoting? And was there any pivoting? Or how has it been like to find and to nail that changing persona of the brand per se?
[0:17:30.2] Rebecca: I think that we’ve had to pivot 100% especially in the pandemic. Our true focus, pre-pandemic, was our wholesale partners and being good to them and giving them what they wanted. But in that respect, the business was not healthy from a viewpoint of we were just focused on making all of our partners happy that we never looked in our backyard. And when lockdown happened and all we had was our backyard for many months, it became apparently clear that we can do this, we can actually be excellent at it, but it takes time and focus and prioritization. So now, our website, our stores, when they reopen, are the priority, and we are great partners to our partners, but they will no longer be calling the shots. So I think that mindset has shifted in a major way that’s going to set our foundation for the future up to be the healthiest.
[0:18:29.2] Peggy: Wow, that’s awesome. I love that you mentioned setting that foundation for the future and to keep that in mind as you’re making changes because it can’t just be in-the-moment changes. It has to stand really well that it can pertain to the future and how it moves. I love that. That’s awesome.
[0:18:49.1] Rebecca: Yeah, I think you always have to be looking at how you’re going to evolve for the future and what does that mean. And we wanted to be where we are today, but we thought it would take us five years. The pandemic really ensured that it happened in six months.
[0:19:04.6] Peggy: Yeah, oh my goodness. It is such a fast way to learn when you are put into that place of having to learn it right away, so it’s so interesting. How has the community shaped the brand and how has community shaped your entrepreneur journey as well?
[0:19:27.6] Rebecca: I think that our community was built from these loyal handbag enthusiasts that lived on this site called the PurseForum, where they just were on all day talking about bags. And out of that community, the community that was created when I used to do trunk shows and travel all around the US. I think that community was created then on social when we were the first fashion company to truly embrace and adopt it. So I think we’ve built many communities, and I think that you’re not always going to be perfect and keep up with all of them. I’ll never forget, I went back to the PurseForum about two years ago and I was like, “Hey, I’m back! What do you want to talk about? I’ve been gone for five years. Sorry.” And it was like, “We’ve moved on. We don’t need to talk to you. Thank you for coming and talking to us, but we’re good.” So I think that community needs to be something that you’re constantly building and then not abandoning. That’s a lesson I’ve learned, and I think that community is something that’s like a plant. You have to water it. So what is valuable to these people? What do they want to see out of this relationship? Because it can’t just be a one-way street.
[0:20:48.1] Peggy: Mm-hmm. So true, and it’s so true about not abandoning the community and to visit from time to time, even if it’s not many visits, but to still stay involved in that way. I love that. It’s a good lesson that you learned.
[0:21:05.1] Rebecca: Totally. I think that there are companies and brands that have built valuable, very vibrant, dedicated communities. And I would definitely not say that I’ve been perfect at it, but the goal is to try and make sure that those connections last.
[0:21:22.7] Peggy: I love that. It’s so good and oh my goodness, these tips are so awesome, Rebecca. I’m super excited to have you and that you were able to share it.
[0:21:31.1] Rebecca: My pleasure.
[0:21:32.8] Peggy: And to actually kick off this podcast session, what is the one lesson that you’ve learned out of all of this? What is that one thing?
[0:21:43.9] Rebecca: I don’t know if it’s something that I’ve learned or a behavior that I’ve been, but I think the idea of not being afraid to take risks, being fearless and resolute when you’ve made a decision. And there are so many terrible examples of people following the pack or thinking that they have to do something a certain way, because that’s how everyone else has done it. Take the risk. If you fail, it’s okay. All that you’ve done is learn something. That’s all that happens when you fail. And so, take the stigma out of failure and just take the plunge and see what happens. I had this moment, and I talk about it in the book where we were looking at not being able to continue the business, and I just took a hard look of, “Okay, what’s the worst that can happen?” And then I had this moment where I was like, “They can’t take my husband away from me and they can’t take my kids away from me, so I’ll rebound. I’ll be able to figure out something else,” and that was very freeing for me because I looked at the worst-case scenario and most oftentimes, you’ll be able to survive. Will it suck? Will you have debt? Will you have to take another job for a little bit? Yes, but you’ll be alive. You’ll have your experience. You’ll be able to figure out something new if you are loving entrepreneurship and you want to do that again. Or you won’t and you’ll go work for someone and you’ll have great learnings too. So I think that keeping that in perspective is important.
[0:23:16.8] Peggy: Oh, that’s so good! I love how you put it because it is an ongoing process and journey after all, and when you pave your way, there’s going to be risk. And yes, you can calculate those risks, but if you do that risk, it will never come down to the very, very bottom, and even if you come down to the bottom, there’s always a way out, so I love that. I love that reminder.
[0:23:43.2] Rebecca: Awesome.
[0:23:44.6] Peggy: Awesome. So what’s next for you?
[0:23:47.1] Rebecca: So what’s next for me is my book, which comes out June 15th, and all forces aligning towards the launch and hopefully, the success of that. I think my goal is to really just to empower more people with the new rules to succeed, so that’s what I’m working on, hard core.
[0:24:10.2] Peggy: Oh, I’m so excited! It is going to be a good book. I know it. [Laughter] And where can people find you?
[0:24:19.0] Rebecca: They can find me on Instagram, @rebeccaminkoff. I’m on Clubhouse. I often do a lot of talks on Clubhouse. Where else am I? Twitter and Facebook yes, but you’ll get more personal slices on Instagram, and then you can follow my podcast. It’s called Superwomen with Rebecca Minkoff. And we talk to women who have failed and learned to survive through that and what they’ve learned and have great people like Katie Couric or Jessica Alba, and just some incredible women that I think people get inspired by listening to.
[0:24:55.3] Peggy: Awesome! Well, I’m super excited for you and the book and everything to come for you. And I wanted to thank you again for coming on this podcast. I really appreciate you and all your tips. They were just so good and so wise and it really just paved the way to be truth for what you’ve built, which is an awesome brand, so I’m so excited.
[0:25:15.9] Rebecca: Thank you for having me.
[0:25:17.6] Peggy: Awesome. Well, we are going to sign off. Bye!
[0:25:21.0] Rebecca: Bye! Thank you!
[0:25:23.9] Peggy: Whoa. That was such an amazing guest and such a fun podcast episode. I would love to do more of these with you all together, so if you want to be a guest on this podcast, definitely reach out to hello@blankroomdesign.com and I’ll send you a link for that, or you can sign up on brandinggems.com and submit yourself or someone you know who’s a good fit for this podcast. And yeah, let’s grow this podcast together and have more folks like us on those charts and to grow this space together. Thank you, guys! I will talk to you all soon. Bye!
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JOIN THE DISCUSSION:
- INSTAGRAM/FACEBOOK: @blankroomdesign
- WEB: brandinggems.com
- GUEST: REBECCA MINKOFF
Business: Web / Instagram – @rebeccaminkoff / Twitter / (PRE-ORDER HER BOOK HERE) - HOST: Peggy Bree
Instagram – @peggybree / Clubhouse: @peggybree
