Invest Like The Best
Episode 113 Leadership Through Hard Conversations
Invest Like The Best

Episode 113: Leadership Through Hard Conversations

Invest Like The Best

Episode 113

Leadership Through Hard Conversations

Maureen Chiquet is the former longtime CEO of Chanel. We cover striking a balance between tradition and innovation, how to find purpose in your work, and the importance of having courageous conversations.

[00:01:15] – (First Question) – The importance of being able to put yourself in other people’s shoes

[00:03:05] – Scott Norton Podcast Episode

[00:04:36] – Most memorable sale from her early career

[00:05:03] – The intersection of facts and emotions in sales

[00:06:40] – Most important emotions in business

[00:07:30] – The importance of identity as part of the selling/marketing of sales and products

[00:09:10] – Difference in strategy for luxury brands vs others

[00:10:55] – Striking a balance between tradition and innovation

[00:13:46] – Advice for new brand company related to rarity

[00:14:59] – Importance of being organic with your brand purpose

[00:15:01] – Wild Company: The Untold Story of Banana Republic

[00:16:26] – Maureen’s purpose over the years

[00:18:44] – How to harness your purpose for your job

[00:20:53] – Her process for writing and desire to do TV

[00:24:01] – Her time with Micky Drexler

[00:27:40] – As a leader, guiding people to succeed

[00:32:33] – Strategy for shifting culture at a company

[00:37:54] – The importance of courageous conversations we should all be having

[00:43:45] – Markers of courageous conversations

[00:46:43] – How she thinks about introspection

[00:50:12] – What draws here to certain locations

[00:55:15] – Advice for younger people starting out their career

[00:57:11] – Kindest thing anyone has done for Maureen

Leadership Through Hard Conversations

Introduction

Patrick
My guest this week is Maureen Chiquet, the former long-time CEO of Chanel. Maureen also spent much of her career at The Gap, growing Old Navy from scratch, and serving as the president of Banana Republic. The topic of discussion is her experience running large businesses, and in finding one's way in a career and as a leader of others. I hope you enjoy this conversation, and that encourages you to, among other things, travel somewhere new and interesting in the coming year.

Patrick
One of the most pervasive themes in the book, which is this ability to put yourself in other people's shoes. Maybe talk about that idea and how you came to that idea, and why it's so important.

Maureen
Yeah, this was a really early lesson I had, but then it seemed to keep reinforcing itself throughout my career. When I was at L'Oréal, the first thing they do at L'Oréal is you go on the road, "sur la route," they call it, and you become a sales rep, basically with a little suitcase.

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