Kendra Scott on Harnessing Failure to Drive Your Success

When entrepreneur Kendra Scott’s hat store closed about 20 years ago, she was devastated.

Even though her family and friends were supportive, she felt embarrassed. She also worried about her professional and financial future.

The retail shop closed as hats didn’t become the popular trend that she had expected, but customers started contacting Ms. Scott seeking to buy the jewelry she had made and sold in her store.

She sensed a business opportunity, and with $500 the then-single mother launched her eponymous jewelry line. Meanwhile, she continued to take jewelry-making classes at bead stores and community colleges.

“You can’t let failure control your entire future,” she says in this Secrets of Wealthy Women podcast with Veronica Dagher.

The jewelry line that she started in her apartment is now worn by celebrities, available in major department stores and in her namesake stores.

Ms. Scott says entrepreneurs need to be willing to try their ideas even though they may not succeed. She also discusses the importance of surrounding oneself with people who believe in you to get support during difficult times.

In our hit podcast series, successful women from all walks of life share their financial and career tips to help empower women and improve their financial savvy. Subscribe now so you don’t miss coming episodes with broadcaster Meredith Vieira and entrepreneur Jennifer Hyman.

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Check out our past episodes with Ayesha Curry, Sheryl Palmer, Mary Higgins Clark, Kelley Brooke and Gloria Feldt, Sarah LaFleur and Lesley Jane Seymour.

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