• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

2

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

3

Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline

1

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

2

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

3

Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
CommentaryMost Powerful Women

2 Huge Problems Every Startup Will Face

By
Amy Errett
Amy Errett
Down Arrow Button Icon
By
Amy Errett
Amy Errett
Down Arrow Button Icon
December 7, 2015, 7:00 PM ET
Courtesy of Madison Reed
Add Fortune on Google for similar content.

MPW Insider is an online community where the biggest names in business and beyond answer timely career and leadership questions. Today’s answer for:What’s your biggest worry and how are you dealing with it? is written by Amy Errett, CEO of Madison Reed.

Startups will usually face two major hurdles: proving their business model, and growing their business. While Madison Reed has a proven market, we’re still growing our company every day. Although growing a company is an enviable problem to have, it requires an entirely different skillset than proving your business is viable. That’s why scaling our company without abandoning the identity and culture we’ve worked so hard to forge is one of my biggest worries.

We’ve created a culture at Madison Reed where employees can thrive through compassionate, thoughtful relationships with both their managers and peers. In a time when most companies are pushing their employees to grind it out for every additional bit of productivity, we empower our employees to be honest with one another and abandon their fears. This approach drives our team to achieve beyond what they thought was possible and furthering the company’s success in the process — I call it scaling with love.

Propelled by growth projections and a deluge of new hires, over time some startups lose their identity and distance themselves from the very DNA that made them such a splash in the first place. Ensuring this doesn’t happen at Madison Reed is something I work to achieve every day.

See also: Why millennials have little interest in pursuing government jobs

Though I try to remain focused on our goals, retaining our company culture isn’t easy. I believe the compassion and empathy each employee brings to the table is incredibly valuable — not something we can afford to abandon as our audience continues to grow. There is no single strategy to keep you team members happy or engaged. After years of doing this, I believe that human beings are more motivated by finding meaning in their lives than being solely money focused. Certainly, compensation matters, but in a company like ours where we have a deep social meaning — where we believe in creating the best hair color products with low chemical ingredients.

While we have lots of room to grow, we won’t sacrifice what makes us unique to do that. Ensuring we retain the compassionate, empathetic culture we’ve spent years developing is something I think about every day. It requires a balanced approach — focusing simultaneously on the big picture and the details. We believe we are well on our way to disrupt a $50 billion market with a better product, better experience, and better service. We take massive pride in that and we know we will have challenges and opportunities as every company does, but I know our culture will carry us through.

Read all responses to the MPW Insider question: What’s your biggest worry and how are you dealing with it?

CEO of Campbell Soup: The biggest challenge of leading an iconic food brand by Denise Morrison, CEO and president of Campbell Soup Company.

3 signs you’re working for a company that truly values its employees by Kathy Bloomgarden, CEO of Ruder Finn.

How CST Brands’ Kim Lubel is dealing with her biggest fearby Kim Lubel, CEO, chairman and president of CST Brands.

This is how top leaders in business overcome their fears by Sandra Peterson, group worldwide chairman at Johnson & Johnson.

How this company is appealing to millennials by Kathy Murphy, president of personal investing at Fidelity.

Why this CEO wants employees to speak up to leaders by Jane Fraser, CEO of Citigroup Latin America.

About the Author
By Amy Errett
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Commentary

saunders
Commentarydisruption
Bausch & Lomb CEO: the AI hysteria is nothing new
By Brent SaundersJuly 31, 2026
5 hours ago
zelter
CommentaryInfrastructure
Apollo President: America’s industrial comeback requires  a new financial playbook and a fatter checkbook
By Jim ZelterJuly 31, 2026
5 hours ago
trader
CommentaryMarkets
The rise of financial nihilism in retail traders
By Derek HorstmeyerJuly 31, 2026
6 hours ago
Asia drives 60% of global growth, but the region’s CEOs can’t escape geopolitics. Here’s how they can stay competitive
Commentarygeopolitics
Asia drives 60% of global growth, but the region’s CEOs can’t escape geopolitics. Here’s how they can stay competitive
By Yasushi SasakiJuly 30, 2026
19 hours ago
byd
CommentaryChina
McKinsey auto leader: China’s auto industry is faster, cheaper and better. Here’s how the West can close the gap 
By Philipp KampshoffJuly 30, 2026
1 day ago
f
CommentaryPandemic
Dr. Fauci, the Lockdown Czar, just won’t go away
By Steve H. HankeJuly 29, 2026
2 days ago

Most Popular

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
Success
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
By Preston ForeJuly 29, 2026
2 days ago
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
Retail
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
By Tatiana SatauaJuly 31, 2026
9 hours ago
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
Retail
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
By Sydney LakeJuly 29, 2026
2 days ago
Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
Big Tech
Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
By Alexei OreskovicJuly 30, 2026
16 hours ago
'Am I paying for the vibes?' Gen Z says it hates capitalism, but their spending patterns show they just don't like being ripped off
Retail
'Am I paying for the vibes?' Gen Z says it hates capitalism, but their spending patterns show they just don't like being ripped off
By Nick LichtenbergJuly 30, 2026
1 day ago
Current price of oil as of July 30, 2026
Personal Finance
Current price of oil as of July 30, 2026
By Joseph HostetlerJuly 30, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.