Maureen Chiquet – Leadership Through Hard Conversations - [Invest Like the Best, EP.113]

My guest this week is Maureen Chiquet, the former longtime 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 of finding one’s way in a career and as a leader of others. I hope you enjoy this unique conversation and that it encourages you to, among other things, travel somewhere new and interesting in the coming year. For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag Show Notes 1:15 - (First Question) – The importance of being able to put yourself in other people’s shoes 3:05 – Scott Norton Podcast Episode 4:36 – Most memorable sale from her early career 5:03 – The intersection of facts and emotions in sales 6:40 – Most important emotions in business 7:30 – The importance of identity as part of the selling/marketing of sales and products 9:10 – Difference in strategy for luxury brands vs others 9:21 – The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands 10:55 – Striking a balance between tradition and innovation 13:46 – Advice for new brand company related to rarity 14:59 – Importance of being organic with your brand purpose 15:01 – Wild Company: The Untold Story of Banana Republic 16:26 – Maureen’s purpose over the years 18:44 – How to harness your purpose for your job 20:53 – Her process for writing and desire to do TV 24:01 – Her time with Micky Drexler 27:40 – As a leader, guiding people to succeed. 32:33 – Strategy for shifting culture at a company 37:54 – The importance of courageous conversations we should all be having 43:45 – Markers of courageous conversations 46:43 – How she thinks about introspection 50:12 – What draws here to certain locations 55:15 – Advice for younger people starting out their career 57:11 – Kindest thing anyone has done for Maureen Learn More For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag