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The 4-Time Founder Who's Revolutionizing the Hair Industry Shares Her 3 Best Success Tips Madison Reed founder Amy Errett was as guest on a recent episode of 'How Success Happens.'

By Robert Tuchman Edited by Jessica Thomas

Key Takeaways

  • Have a driving mission, and care deeply.
  • Know the no. 1 characteristic of successful entrepreneurs.
  • Find your North Star.

This week on How Success Happens, I spoke with Amy Errett, the CEO and founder of hair care and color company Madison Reed. She has more than 30 years of expertise as a four-time entrepreneur, venture capitalist and social mission visionary. I was curious to find out about her journey as an entrepreneur and her mission to disrupt the hair color aisle and empower women to feel confident and unstoppable.

You can listen to our full conversation above, and below, I've pulled out three key takeaways.

Have a driving mission, and care deeply

Errett saw a massive opportunity in hair color, but her true motivation was that she cared deeply about the subject matter for two reasons: one, to make hair color with ingredients people can feel good about, and two, to uplift the stylist industry and the licensed colorists who are so central to the Madison Reed community.

Timestamp — 18:13

Related: The Founders of Scott's Protein Balls Share How a Health Crisis Turned Into a Business Opportunity

Know the no. 1 characteristic of successful entrepreneurs

Resilience is invaluable as an entrepreneur, Errett says. When things don't go your way, ask for the "why." The knowledge you will receive by asking that question will help you think about your business in a different way. Being able to take failures and use them as learnings is key to success.

Timestamp — 27:00

Related: The Former Owner of the Los Angeles Dodgers Has a New Passion Project. Here's Why He's Fighting to Create a Safer Internet.

Find your North Star

We're all built in different ways and value different things, Errett explains. Identify what you value and what makes you happy and use that as your North Star to guide your journey.

Timestamp — 8:30

Related: The Founder of Match.com Is Now in the Baby Business — and Her Best Success Tips Are Relevant to All Entrepreneurs

Robert Tuchman

Entrepreneur Staff

Host of How Success Happens

Robert Tuchman is the host of Entrepreneur's How Success Happens podcast and founder of Amaze Media Labs the largest business creating podcasts for companies and brands. He built and sold two Inc. 500 companies: TSE Sports and Entertainment and Goviva acquired by Creative Artists Agency (CAA).

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