Summary
Overview
This episode of the How I Built This Lab advice line features Sarah LaFleur, founder and CEO of MM LaFleur, helping three entrepreneurs tackle challenges in their businesses. Topics include managing self-doubt as a founder, justifying premium pricing for functional products, and shifting consumer behavior toward sustainable practices. Sarah shares insights from her own journey, including surviving COVID's 60% revenue drop and navigating subsequent financial crises, while emphasizing the importance of mental health and practice for founders.
Sarah LaFleur's Journey and MM LaFleur Update
Sarah LaFleur returns to share her experiences since 2020, when she was seven months pregnant and MM LaFleur faced devastating challenges. The company survived a 60% revenue drop during COVID, three rounds of layoffs, and subsequent crises including Silicon Valley Bank's collapse and their lender going under. Despite these setbacks, MM LaFleur returned to profitability in 2022 and has been steadily growing, evolving from office-focused workwear to "power casual" clothing that fits modern professional women's lifestyles.
- MM LaFleur's revenue dropped 60% in 2020 compared to 2019, requiring three rounds of layoffs and closing all stores
- The company returned to profitability in 2022 and has been steadily growing since
- MM LaFleur has shifted from strictly office wear to "power casual" clothing, with jackets becoming the power item instead of dresses
- The brand serves women roughly late 20s to mid-late 50s with equal age distribution - described as a psychographic, not a demographic
" I really thought I was going to lose it all. And it's been this amazing experience of getting to build and rebuild the brand and hopefully doing it smarter the second time around. "
Managing Self-Doubt as a Founder with David from SOAR
David Rustiano, founder of SOAR muscle recovery products, asks how to manage self-doubt that never fully disappears even as businesses grow. Sarah emphasizes that managing self-doubt is a core CEO responsibility, sharing her recent experience working with a mental strength coach and practicing meditation. Both Sarah and Guy stress that self-doubt is actually a positive indicator in founders, and the key is learning to make decisions despite uncertainty by focusing on meaningful data and signals.
- SOAR makes muscle recovery products including therapeutic soap shaped like physical therapy tools for use in the shower
- David's business started during COVID and appeared on Shark Tank, reaching $440,000 in sales one year but returning to around $105,000 the following year
- Sarah works with a mental strength coach focusing on meditation and journaling, finding relief for the first time in 14 years of running her business
- Guy emphasizes focusing on meaningful data and signals rather than spiraling into uncertainty
" Managing self-doubt is like so much of the job. And I think managing your own psyche is the number one CEO job. "
" I really wish I could just like throw in the towel and call it quits. But for some reason, I can't. I love it too much. "
" It's hard because it's hard. And I think sometimes founders need to hear that message. "
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