How Success Happens

Steve Martocci is the founder of music tech platform Splice. Martocci first started in the tech business by co-founding the group-messaging service GroupMe, which sold to Skype in August 2011 for $85 million, when he was just 27. In 2013 he co-founded Splice, a technology platform for music creators that streamlines the process of creating and sharing music. Then in 2014 he co-founded Blade, a private plane service. In total, Martocci’s startups have raised over $100 million.

The Swiss financier, Thomas Flohr, started his private jet charter company in 2004, just a few years after 9/11 sent aircraft sales spiraling. It wasn’t the last time world events or market downturns would affect Flohr’s business. The 2008 financial crisis came with plenty of challenges, but as Flohr told me he managed to turn those obstacles into fuel for Vista Jet. And today in these times of a new global crisis around the COVID-19 Flohr still continues to move his company forward.

If you ask around at any business with a truly great company culture, you might hear a few reasons as to why its like that. We noticed it right away while visiting WABC TV in New York City this past Winter. President, Debra O’Connell says it’s all about building the right team, and getting them rowing in the same direction. But after interviewing her we suspect that attitude itself--the lack of ego, the eagerness to give credit to others--is a big part of what makes her one of media's superstars.

In 2002, Brent and his brother Brad launched Exclusive Resorts, and quickly became pioneers in the destination club industry. Then, in 2011 the Handler brothers launched Inspirato, a luxury travel club with an impressive roster of exclusive experiences and bespoke travel itineraries. Now Inspirato offers a ground-breaking subscription model, which lets members pay a flat monthly rate for unlimited bookings at Inspirato’s exclusive luxury properties around the world.

They say every “overnight success” takes 10 years, and that’s something reality TV tycoon Brent Montgomery knows all too well. In 2014, Brent sold an 80% stake of his production group Leftfield Entertainment for $360 million—the most lucrative nonfiction television deal ever made in North America. But if you rewind ten years, you’d find Brent producing wedding videos in New York City. He was working 80-100 hour work weeks with minimal pay, hustling to land a ticket into the entertainment business.

A movie is a piece of entertainment. But a movie is also a business. There are budgets, payroll, marketing—you name it. Michelle Ganeless, the former President of Comedy Central, Alysia Reiner, an actress famous for her role on Orange is the New Black, and her husband, the accomplished actor David Alan Basche talk about how making their movie, EGG, was very much like building a business.

Melissa Ben-Ishay is the founder of Baked by Melissa. When she was let go from her job, she had no idea what to do. But her brother suggested she start baking. Melissa wasn’t sure if her love for baking as a real business opportunity or just a distraction. But he encouraged her to nurture her creative instincts, and boy did it pay off. Those little colorful cupcakes ended up in the hands of some influential people, and now Baked by Melissa is arguably the most successful cupcake company in the world.

Daniella Yacobovsky the co founder of BaubleBar the go-to online retailer for on-trend jewelry seemed to understand early on that failures she had in her business were just part of the necessary process needed to eventually find success. She built BaubleBar into a major fashion accessories business by failing her way to success. Figuring out the right answers by making the wrong decisions. Even today when she launches new jewelry products its a continual process of testing, failing, learning and growing.

Scott Conant's career in the culinary space has spanned over 30 years, he really has achieved just about everything someone could in one industry. HIs accomplishments have included multiple award winning restaurants, of course Scarpetta and Alto, best selling books, James Beard Awards, Scott even has a regular role on the Food Network show Chopped. But most telling might be the rabid following of fans who continue to crave just about everything Scott does with his ever expanding brand.

Leah Cohen started in the restaurant business way before the #metoo movement. Many people might know her from her wildly successful New York City restaurant Pig and Cow. Or her brand new restaurant Piggyback. Others possibly know her from her appearance on Season 5 of Top Chef. But most don't realize her success didn't happen overnight. She put in a lot of years working for a variety of chefs and restauranteurs before taking her own leap into entrepreneurship.

Melody Mcloskey founded StyleSeat - the premiere marketplace for beauty and barbering services. It has generated more than $6.5 billion in revenue for its small business customers and powered more than 120 million appointments in 16,000-plus cities across the U.S. But Melody actually sat on this idea for two years. She had so many personal doubts, fears and insecurities holding her back. So, what did it take for Melody to finally dive in and just go for it?

Alan Fuerstman started his career in the hotel industry as a doorman at a Marriott in New Jersey. He then came up with an idea for a new type of hotel. It would be an ultra-luxury property that allowed people to be causal. He called it Montage, and built it in Laguna Beach California. And he was right. It set the standard for a new type of luxury property, and is now one of the most well-known ultra-luxury brands in the industry, with multiple properties around the world.

There are over one billion people globally living with disabilities, but up until a few years ago no one in the fashion industry was making clothes for them. That was until Mindy Scheier started Runway of Dreams, a nonprofit that partnered with Tommy Hilfiger to create an adaptable clothing line. More recently, Mindy launched Gamut, a business that helps people with disabilities to find work in the adaptive economy.

Marc Merrill is the Co-Founder of Riot Games. Riot created League of Legends, one of the most popular video games of all time. League of Legends World Championship rivals the Super Bowl viewership — with close to 100 million last year. The company even brought in $1.5 billion in revenue this past year. But when Marc started the company, there were times they barely had funds left to pay employees. They had disastrous technical failures at their live events, and nearly went out of business many times.

There is a reason we choose to pay $5 for a cup of coffee. The customers aren't paying for the coffee, they are paying for the experience of being at Starbucks. Danny Meyer the famed restauranteur was doing this before the term "experience economy" was even coined back in the 1990's. He opened his first restaurant in New York City called Union Square Cafe back in 1985 and one thing he has always done better than anyone else in the business is offer an incredible experience.