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The Formula Rhode & Skims Use To Win (and how you can do it too!) Shopify President

Overview

Shownote

Highlights

Transcript

Chapters

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The Formula Rhode & Skims Use To Win (and how you can do it too!) Shopify President

Hot Smart Rich with Maggie Sellers Reum

Mar 25
Hot Smart Rich with Maggie Sellers Reum

Hot Smart Rich with Maggie Sellers Reum

Mar 25
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

Why is Hailey Bieber’s Rhode a $1B empire while other celebrity brands feel like "cash grabs"?  Shopify President, Harley Finkelstein, breaks down the elite playbook behind Rhode, Skims, Kylie Cosmetics, Gymshark, and Chamberlain Coffee. From the “9 Perso...

Highlights

In this candid conversation, Shopify President Harley Finkelstein demystifies what it truly takes to build a billion-dollar brand—not through hype or celebrity alone, but through authentic problem-solving, empathetic community-building, and relentless execution.
00:00
Start by finding a personal solution to a problem
02:20
Every 26 seconds, a new entrepreneur gets their first sale on Shopify
05:21
Entrepreneurship is in a golden age with low barriers and unlimited scaling
07:53
Starting a business now isn't as risky as it was 50 years ago
11:59
Solving a personal problem is the best way to start a business
12:50
The cost of failure is low and scaling potential is high in modern entrepreneurship
13:59
Shopify is my life's work—it’s where passion, mission, vocation, and profession all meet.
16:32
Leading a public company offers personal growth through solving new problems and developing skills as the company evolves
21:06
Surrounding yourself with entrepreneurs sustains energy through rejection
22:34
Shopify is perfect for European luxury brands
26:14
They emailed Gary Vaynerchuk with 'I want to buy 3,872 books' using his book's exact bestseller rank—and he responded immediately.
27:43
Email strategy focuses on what the recipient wants, like buying 3,000 books from someone
30:29
The '1000 True Fans' concept shows a small but dedicated following can be sufficient for business success
33:59
The model has shifted from building a product first to building an audience
42:16
Jesse Itzler’s All Day Sauna Company and All Day Running Company exemplify authentic creator ventures
45:46
Shopify Sidekick instantly identified the best customer and recommended personalized products
47:32
AI Shopping offers a personalized, merit-based shopping experience that helps smaller businesses be found
49:50
AI Shopping will make shopping enjoyable for consumers and help smaller merchants get found
51:05
AI shopping uses users' search history to recommend products and serves as a new distribution channel for brands
53:10
Beyoncé’s Skims brand delivers products directly to Spotify listeners via Shopify
54:08
Shopify handles backend tasks like inventory, payments, and order fulfillment for entrepreneurs
55:20
Bilt members can earn points on mortgage payments as well as rent
58:40
For Hailey and Rhode, the key is simply to say 'yes'
58:58
Parents should default to supporting their children's ideas
1:00:08
Opening 10 stores is not a good idea
1:00:21
Building businesses is his greatest joy
1:01:49
Brunello Cuccinelli is a brand Shopify wants on its platform by 2026
1:02:29
Antifragility is a great way to view life and failure
1:03:30
Rhode, created by Hailey Bieber, is praised for its innovation in listening to customers
1:06:53
Companies with a deep understanding of their customers win
1:07:48
The 'spiky object' career strategy focuses on one's strengths instead of being well-rounded
1:10:23
To improve as an interviewer, study voice inflections, body language, and seek feedback
1:12:35
Watching past recordings is a self-improvement hack for entrepreneurs

Chapters

Intro
00:00
Why You Don’t See Yourself As An Entrepreneur
02:18
Should Everyone Try Entrepreneurship?
05:17
Why Most People Never Start
07:53
The One Thing That Creates Billion Dollar Businesses
09:07
Motivation Doesn’t Last… This Does
12:50
Finding Your Ikigai (Life’s Work)
13:56
“You’re Changing Women’s Lives”
16:32
Chasing People You Admire
18:18
Fiverr Ad
22:31
How To Get Anyone’s Attention
23:42
Do Creators Have A Peak?
27:42
Do You Need An Audience To Win?
30:26
Why Kardashian Brands Actually Work
33:59
Will Celebrity Brands Keep Winning?
39:36
Should We Be Scared Of AI?
43:08
What Is AI Shopping?
47:31
Will AI Replace Influencers?
49:48
Will AI Replace Everything?
50:59
Shopify Ad
53:07
Bilt Ad
54:04
A Letter From Harley’s Daughters
55:13
Raising Future Entrepreneurs
55:51
What He Spends His Money On
58:53
Skiing vs Building Businesses
1:00:06
Best Books For Entrepreneurs
1:00:19
Industries To Avoid
1:01:46
The Most Innovative Product He’s Seen
1:02:25
What Makes A Brand Truly Great
1:03:30
His “Spiky” Career Strategy
1:06:53
The One Belief That Changed Everything
1:07:45
How To Become A Better Storyteller
1:10:22
Where To Find Harley
1:12:32

Transcript

Harley Finkelstein: Tax Act knows filing taxes can be confusing, so we have live experts on hand who can help answer any questions you may have. Questions like, can I claim my SUV is my home office if I answer work emails in my car? If I adopted 12 dogs th...