EP 042: Trina Spear & the FIGS story – making healthcare a more comfortable place for everyone

Wondering how the smallest insights can turn into massive opportunities?
 
Trina Spear is the Co-Founder and President of FIGS (@wearfigs), a company with a rapid upward trajectory and roots right here in Miami. Trina shares the story of starting FIGS and how neither Harvard Business School nor Wall Street could prepare her for the humbling challenges of entrepreneurship.
 
She shares how Co-Founder Heather got the idea for FIGS by noticing the horrifically unfashionable scrubs that her friend was wearing . . . then redesigned them and later validated the business idea from the trunk of a car.
 
One thing led to another and now FIGS is taking the healthcare scene by storm with their fashion-forward scrubs designs.
 
Trina shares what it takes to be a Benefit corporation focused on doing good in the world, including an overview of their new project at Miami’s Nicklaus Children’s Hospital.  Later, in one of my favorite parts of the episode, she shares what Oprah and Michael Phelps have in common and the business lesson we can all take away from it.
 
Trina has amazing hustle and drive – some fantastic business lessons and powerful stories from a leader playing a big role in making healthcare a better place for everyone. #wearfigs
 
Highlights
 
3:30 – How she decided to leave a great job on Wall Street to start FIGS
5:00 – How FIGS came to be
6:45 – How they validated the idea selling FIGS out of Heather’s SUV
8:45 – Her advice to people thinking of pursuing their own business
9:30 – The importance of having a Co-Founder and how she and Heather complement each other
11:30 – What she thinks about titles in a company . . . and how one employee completely changed his
12:15 – What she wishes she knew before starting FIGS . . . and how HBS didn’t prepare her for entrepreneurship
15:00 – Their biggest mistake early on . . . and advice for choosing investors and partners
19:15 – The value of having a direct-to-consumer business
21:45 – How they decided on price for the product
23:45 – Why they decided to not just sell scrubs but lifestyle clothing
25:45 – How she considers the competition . . . and lessons from Oprah and Michael Phelps
28:00 – How they decided to become a B-Corp
29:00 – Their project at Miami’s Nicklaus Children’s Hospital
30:45 – Brands they’d like to be mentioned alongside
32:30 – The one metric she’d use to navigate her business by
33:15 – Her productivity routines . . . and why they have walking meetings at FIGS
34:45 – Closing questions: best advice, favorite books, pros/cons of doing business in Miami, what she’d do with $500 to start a business if she were new to Miami
 
Mentioned in this episode
 
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