"It is your greatest lesson" — Shark Tank mentor Kendra Scott admits failure helped her grow

Shark Tank mentor Kendra Scott recently opened up about how failure played a crucial role in her journey toward success. In an Instagram reel shared on March 12, 2025, she reflected on her first business failure and how it became the foundation for her future achievements.

"Every single experience, the good and the bad, that lead up to closing ‘The Hat Box’ taught me everything I needed to know," she wrote.

Shark Tank mentor Kendra Scott further added:

"Here’s your reminder.. fail, try again, fail again... it is your greatest lesson! But ultimately, fail forward and keep going."

During the reel, Kendra shared that her first venture, The Hat Box, ended in failure, which left her feeling defeated. She mentioned feeling down and struggling with self-doubt. Despite the setback, the experience became her greatest lesson and motivated her to start her jewelry brand quietly, without publicizing her plans out of fear of judgment.

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Shark Tank mentor Kendra Scott on how failure shaped her journey

Shark Tank mentor Kendra Scott described how her initial failure impacted her mindset and approach to business.

"When I started Kendra Scott, I didn't tell people that I was starting another business, I very quietly was selling jewelry to other boutiques and doing things," she shared.

She further added in the reel:

"I was afraid that people would laugh at me because I had a failed business."

However, she later realized that her first business was a significant learning experience. She shared that when she looked back at it, that business was her "education." That store taught her everything that she "needed to know about retail." The lessons from The Hat Box became the foundation for her future business journey.

Kendra explained that every experience, whether positive or negative, contributed to her growth.

"It was my bridge to my successful business that was waiting for me ahead, and every single thing in my life has happened, the good, the bad, and the ugly has happened for a reason," she shared.

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Kendra Scott's approach to building a positive workplace

In an Instagram video shared on March 4, 2025, Kendra Scott discussed her company's hiring philosophy, highlighting the importance of having a positive and supportive work environment. She revealed that 96% of her company's workforce consists of women, sharing the significance of hiring individuals who align with the brand's values.

"It is the most incredible community of fierce, loving, and kind women you can imagine. We attract those types of people. We hire on heart," she shared.

Scott also talked about creating a workplace that centered around mutual support and encouragement, which are vital to the company’s success.

"We do have a company of 96% women, and it is a company of women who love each other, support each other, root for one another, lift each other up when they're down," she added.

Shark Tank mentor Kendra Scott started her jewelry business, Kendra Scott LLC, in 2002 from her spare bedroom with just $500 in her account. She shared about this in a 2018 interview with CBS Mornings.

Kendra took her initial collection in a wooden tea box and went store to store in Austin, Texas, introducing her designs. She mentioned carrying her three-month-old baby along during these early days, facing challenges while laying the foundation for her brand.

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Fans can watch the latest episode of Shark Tank season 16, which is currently available to stream on ABC.