Ep 164 | Kim Malek
How This Founder Escaped Corporate Life & Conquered Her Fear of Starting a Business
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Kim Malek is the Co-Founder & CEO of Salt & Straw, an ice cream company that produces and offers unique ice cream flavors made by hand with local ingredients.
Kim had always wanted to open an ice cream shop, and in 2011 after years in corporate jobs at companies like Starbucks, took a major leap of faith — Kim cashed out her 401(k), sold her house, maxed out her credit cards, and organized a garage sale, all to fund their first location of Salt & Straw, where she would imagine flavors rarely seen in ice cream at that time.
Their opening values were centered around connecting with their community, and working with local farmers, artisans, and craftsmen to source the best ingredients. More than a decade later, Kim has grown Salt & Straw to a hugely successful business with incredible celebrity investors like Dwayne "The Rock" Johnson and many famous chef collaborators.
In our interview together, Kim shares how she pursued her dreams despite living most of her life in fear, and how her first job out of college at a small company called “Starbucks” played a significant role in shaping her career path along with key learnings she had working alongside Howard Schultz, the former CEO. We also talk about how Kim overcame her fears and insecurities of launching her “dream business” despite knowing nothing about ice cream, how she funded her business in its early days, how she dealt with criticism from the many investors who said she had a horrible idea, and so much more.
Show Notes:
How Kim has managed to pursue her dreams without letting fear hold her back. [03:00]
How Kim let go of perfectionism to make space for more important things. [08:07]
Kim’s first job at Starbucks and what she learned from Howard Schultz. [10:09]
The common threads amongst all the jobs she’s had in multiple industries. [13:59]
Kim tells us about the business plan she created in 1996 and how fear stopped her. [18:56]
How working for someone builds confidence and skills to start your own business. [23:08]
Kim shares some advice for women who feel too intimidated to ask for help. [25:13]
The catalyst for taking a leap and starting her business, Salt and Straw. [29:45]
Kim tells us about her business partner and his knowledge of ice cream. [32:59]
Trying to get the business off the ground and the finances involved. [35:52]
The importance of defending your idea as an entrepreneur. [40:06]
Kim’s intention to make her store an experience and earn every cent she makes. [43:00]
How they continue to harness a sense of community and their values as they grow. [45:09]
When Kim realized she had to raise money and how she got celebrities behind her. [47:20]
The importance of having good relationships with your investors. [50:27]
The mistakes Kim thinks some people make when starting/running their businesses. [53:31]
What innovation is to Kim and what she’s currently working on. [56:50]
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Follow Kim:
Website: https://saltandstraw.com/
Instagram: https://www.instagram.com/saltandstraw/
