Scott is a recent MBA graduate from Said Business School, and the founder of Oliver Cabell, an online fashion company providing luxury goods with full cost and production transparency.
Q: What is your background? Why are you doing this?
A: Investment banking and venture capital. It allows me to blend elements that I enjoy and are important to me – brand building, fashion, start ups and technology, and social purpose.
Q: What is your definition of entrepreneurship?
A: Someone who loves to create.
Q: What made you decide to become an entrepreneur?
A: A love for design and business, as well as a problem that I wanted to solve. I believe that every idea starts with a problem. Ours came in 2014 as graduate students visiting a factory in Asia. We saw cramped workers, earning $6/day, gluing and sewing luxury duffle bags and backpacks. One of the bags, which the brand claimed to produce in Italy, cost under $100 to make. This bag sold for over $1,200 just down the road. It turns out the high-end fashion industry is dominated by a few public companies that keep prices artificially high while reaping huge profits from customers. We knew there had to be a better way, and started Oliver Cabell with the lofty goal of creating an honest alternative. We believe customers deserve to know everything about their products, including how much they cost to make.
Q: So what would you say are the top skills that needed to be a successful entrepreneur? Why?
A: Passion for what you are doing. Starting a company is incredibly hard – you must love what you are doing in order to push through the headaches.
Q: What individual, company or organization inspires you most? Why?
A: Warby Parker. Not only voted most innovative company of the year in 2014, but they blend the humanities and business incredibly well.
Q: What has been your most satisfying or successful moment in business?
A: While Oliver Cabell is still relatively young, we had a few nice articles written about us and what we are doing.
Q: Any last words of advice?
A: Don’t take life, or your venture, too seriously. Remember to have fun and give it your all!