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Amy Errett

21 statements across 1 episodes · 7 bullish · 4 bearish · 1 people on the record · first statement Aug 18, 2025 by Amy Errett · across every show →

On the record as a speaker too: Amy Errett's record, appearances and statements → this page counts the times other people say the name.

Everything said about Amy Errett, oldest first

Aug 18, 2025 positive
Assertion Not checkable as stated
Errett: Spectrum Was Profitable in Six Months and Never Raised More Capital
“We were a profitable company from the first six months and never became unprofitable, never needed to raise any more money.”
Amy Errett Aug 18, 2025 ▶ 4:37 Madison Reed: Amy Errett
Aug 18, 2025 neutral
Disclosure
Errett: Madison Reed struggled to raise capital starting with Series C
“The Series A was highly sought after for some of the reasons that you talked about. And then when we got to the Series C, not so much. And from that period on, it has been a difficult business to raise money for.”
Amy Errett Aug 18, 2025 ▶ 47:34 Madison Reed: Amy Errett
Aug 18, 2025 positive
Assertion Not checkable as stated
Errett: Madison Reed's Early Color-Matching Algorithm Delivered High Accuracy and Retention
“And we started to see very early on actually measuring customer satisfaction and net promoter score, whether or not this algorithm Because that's what we built. Machine learned algorithm worked. And that was the moment that we understood we had something here …”
Amy Errett Aug 18, 2025 ▶ 37:33 Madison Reed: Amy Errett
Aug 18, 2025 neutral
Insight
Errett: Strategic acquirers prefer acquiring brands under $100M in revenue
“Many of these strategics buy things that are sub-one hundred million dollars in revenue. When something gets bigger, it becomes harder for them to get the board to approve it.”
Amy Errett Aug 18, 2025 ▶ 1:09:33 Madison Reed: Amy Errett
Aug 18, 2025 positive
Assertion Supported
Amy Errett: Madison Reed now offers close to 100 hair color shades
“We have close to a hundred today.”
Amy Errett Aug 18, 2025 ▶ 35:19 Madison Reed: Amy Errett
Aug 18, 2025 bearish
Assertion Not checkable as stated
Errett: The IPO window is non-existent for consumer companies
“If you look at the IPO window, it's non-existent for consumer companies.”
Amy Errett Aug 18, 2025 ▶ 1:11:39 Madison Reed: Amy Errett
Aug 18, 2025 neutral
Disclosure
Amy Errett: Comparison trap makes it hard to feel successful
“This is a game I can play my whole life. I can decide that no matter what happens at Madison Reed, it's not big enough. Because there will always be an AI company that's bigger. There will always be a SaaS platform that's bigger. And I have a hard time seeing …”
Amy Errett Aug 18, 2025 ▶ 22:30 Madison Reed: Amy Errett
Aug 18, 2025 negative
Insight
Errett: A scaling business moves at the rate of its slowest executive
“Because when a business starts scaling, but the people that you have there can't scale with it, the business moves at the rate of the slowest senior person. That's what I've come to understand.”
Amy Errett Aug 18, 2025 ▶ 54:16 Madison Reed: Amy Errett
Aug 18, 2025 negative
Insight
Errett: Hiring co-founders for likability cost Madison Reed years of growth
“This was Amy's, ah, magical thinking, as I call it, to put something together with a group of people that I liked, which is a bias, by the way, that one hires for liking a lot, has a certain bias that I would suggest. Everyone start thinking about, it's not ju…”
Amy Errett Aug 18, 2025 ▶ 55:32 Madison Reed: Amy Errett
Aug 18, 2025 positive
Assertion Not checkable as stated
Errett: Madison Reed's $75K Flatiron pop-up was fully booked in five weeks
“And so they said you have 75,000 dollars. Go wild. See what you can do. So we opened a small pop-up in Flatiron. We spent 25,000 of the 75 for out-of-home advertising, like billboards on sides of the buses and phone booths, still phone booths in New York, and …”
Amy Errett Aug 18, 2025 ▶ 50:49 Madison Reed: Amy Errett
Aug 18, 2025 neutral
Disclosure
Errett: Spectrum acquisition did not provide enough wealth for desired lifestyle
“I made a good amount of money, but I didn't make enough money to live the lifestyle that I wanted.”
Amy Errett Aug 18, 2025 ▶ 10:16 Madison Reed: Amy Errett
Aug 18, 2025 bullish
Opinion
Errett: Hair color demand is recession-proof and pandemic-proof
“I also think that this is a good thing for us to prove that hair color is pandemic proof and recession proof, because that just means it's going to happen no matter what happens.”
Amy Errett Aug 18, 2025 ▶ 1:14:29 Madison Reed: Amy Errett
Aug 18, 2025 positive
Assertion Not checkable as stated
Errett: Hundreds of stylists asked to buy Madison Reed wholesale for salons
“One stylist started reaching out to us asking if they could buy our color directly from us to apply to their customers' hair in their salons. Like at a whole, at wholesale. Yeah. And that was like, oh, curious. That's curious to me. And it was not like three. …”
Amy Errett Aug 18, 2025 ▶ 49:36 Madison Reed: Amy Errett
Aug 18, 2025
Insight
Errett: Navigating departures requires identifying what motivates the person to be okay
“I think the key about someone's leaving is to figure out what they need, what motivates them to be okay.”
Amy Errett Aug 18, 2025 ▶ 58:37 Madison Reed: Amy Errett
Aug 18, 2025
Disclosure
Errett Was Willing to Risk $200,000 Before Seeking Seed Funding
“About 200,000 dollars.”
Amy Errett Aug 18, 2025 ▶ 36:31 Madison Reed: Amy Errett
Aug 18, 2025 negative
Assertion Not checkable as stated
Errett: Fired as Olivia CEO blindsided in a hotel lobby
“I was fired in a hotel lobby on a Monday morning, completely blindsided.”
Amy Errett Aug 18, 2025 ▶ 11:38 Madison Reed: Amy Errett
Aug 18, 2025 bullish
Assertion Not checkable as stated
Errett: Madison Reed reached corporate profitability in 2024
“We are a profitable company now. We crossed profitability last year.”
Amy Errett Aug 18, 2025 ▶ 1:13:58 Madison Reed: Amy Errett
Aug 18, 2025
Disclosure
Errett: Subscription Beauty Brands Require Massive Pre-Launch Capital to Scale
“Yes, and the idea was since we knew that we wanted it to be a subscription-based business, that building the core of the subscriptions would scale the business faster. So you have to, you need a splash to get above the sort of noise for these women and figure …”
Amy Errett Aug 18, 2025 ▶ 41:10 Madison Reed: Amy Errett
Aug 18, 2025
Assertion Not checkable as stated
Errett: Madison Reed's first production run cost about $160,000 for 19 shades
“I think altogether it ended up being, like, maybe a 160,000 of US dollars, because remember, the first run was a limited, you know, minimum order quantity, and when we launched, we only had 19 shades.”
Amy Errett Aug 18, 2025 ▶ 33:56 Madison Reed: Amy Errett
Aug 18, 2025 neutral
Insight
Errett: Consumer investors now demand 20%+ growth alongside profitability
“Now, the world has shifted to wanting both. People want you to grow, you know, at least 20 plus percent top line, but they also require profitability.”
Amy Errett Aug 18, 2025 ▶ 1:11:24 Madison Reed: Amy Errett
Aug 18, 2025 neutral
Insight
Errett: Most investors only fund things they personally relate to
“Most people invest in things they can relate to.”
Amy Errett Aug 18, 2025 ▶ 47:53 Madison Reed: Amy Errett
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