How I Made $1M in One Hour… And The Mistake That Nearly Cost It All

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Visit northwestregisteredagent.com slash HSR free and start using free resources to build something amazing. Get more with Northwest Registered Agent. Northwest Registered Agent at northwestregisteredagent.com slash HSR free. This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed Sponsored Jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed Sponsored Jobs. Get a $75 sponsored job credit at indeed.com slash podcast. Terms and conditions apply. Right now, then this is a job for Indeed Sponsored Jobs. Lindsay Harder, are you ready to get hot, smart, rich? I was born ready. You have made a million dollars in one hour. At first, I thought it was a mistake. I think my dad used money as power. I was convincing myself of the societal narrative that like a man has to make more than you. Something that I find really hard building a business is friendship. Like don't hire your friends. You would never hire a friend anymore. No. One wrong misstep, one wrong mistake will get someone to turn on you. Set is built on authenticity and transparency for the good or not the good. What do you think was the worst moment you've ever had building set? It was our first down year. It was the worst year set had ever had. It was the worst version of myself as a leader. I was making such questionable decisions and mistakes and I lost myself that year. I was crying every single day. We called a leadership meeting and I was like, we need to fix this right away. I don't care if we lose money on this job. What's the most amount of money we can give? In case you missed it, you're allowed to be hot, smart, and rich. So let's get into it. Lindsay Carter, are you ready to get hot, smart, rich? I was born ready. You are one of the first athleisure. lifestyle brands that I have had on that has reached cult-like status amongst millennial and Gen Z women. But for someone that is listening to this for the first time that doesn't have context into what you do or who you are, how would you contextualize what mission Lindsay Carter the person is on, not the brand Set Active? My mission is to simplify the way that you get dressed and it's more of a feeling that I'm selling. The amount of people that message me, I even got one yesterday. Talking about how she finally feels like she can fit in because she's in set and it just takes the guesswork out of getting dressed in the morning if you're running your errands or just want to look put together but not too dressed up. That's really why I started the company because I didn't feel like I had that. That you didn't fit in? That I didn't fit in, but I started the company, I was in my mid-20s. I was figuring out, I didn't know what my style was. I didn't have the money for a class. Or an essential wardrobe. And I was so lost on what to wear. So I figured, why not simplify it and do matching sets so you take the guesswork out of it? How else would you describe Lindsay Carter back when she was 5 to 10 years old? I would say just a kid who knew what they wanted or found a way to get what they wanted. My dad's favorite story that he tells people was every year we'd go to an all-inclusive hotel. To Mexico. Every trip, my dad would give me an allowance, or all of us, there's four of us, an allowance to spend while we're on the trip. I would blow through my allowance in probably the first five minutes. And my siblings would all hoard it throughout the trip so that they could take their time, pick out what they want. It was day three of our trip and I was on the beach and had no allowance left. And I saw a guy selling jewelry and there was a dolphin bracelet. And I was like, I need to have that. And I was like, I need to have this bracelet. So I ran up to my dad. I was like, dad, I need 20 pesos. And he was like, you spent your money. I don't know what to tell you. So I went to my sisters. Can I have your money? I promise I'll do something for you when I get home. I was trying to barter with them. They said, absolutely not. My brother said the same. So I was like, okay. It's really hot. I want to say it was like 90 degrees out. And I'm looking around and I go to my brother. I'm like, I need to borrow your backpack. And he was like, okay. So I take the backpack. I go up to the restaurant. I stuff it with ice cold water bottles because it's an all-inclusive hotel. So they give away water bottles and I grab a plate of food from the buffet and I take the plate and I take the backpack and I go right back down to the beach. I'm like eight years old. And I tell the guy, I will trade you these ice cold water bottles and this plate of food for this dolphin bracelet. And he said, yes. And I got, and I come back with this shiny dolphin bracelet to the pool. And my dad thought I stole it. He was so angry. Like he was like, how did you get this? Like, whose money did you take? And I told him this, what I did. And he just started laughing. And he was like, that is so you. And I just figured it out. So at eight years old, we could say you maybe were a hustler. Yes. But you also were very entrepreneurial. Yeah. Looking back at yourself, did you always want to be an entrepreneur at that age or you kind of fell into it? I think I was always coming up with ideas since I was little. I wanted a hair salon at one point. I was cutting my sister's hair when I was in high school. I started something called Lindsay camp when I was a nanny and like took in all of these kids who didn't have summer camp to go to from like private schools and like made my own itinerary, hired my own counselors. But my dad, I lost my mom when I was young, but my dad would always say like, I'm going to live in the West wing of your mansion or you're going to be so successful one day. And I think that put pressure on me and made me actually want to like steer away from that because I was like, what if I can't live up to that? Like that's such a big job and underutilized. And I was like, what if I can't live up to that? Like, what if I can't live up to that? It's like really hard, obviously to build and, you know, become a multimillion dollar brand. It's very rare also. And I think for me, I was just like, oh, wow. Like, I don't know if I can ever live up to that at the time I thought that. So I actually went to school for early childhood education. It's interesting going back to like the pressure that we put on ourselves and what we expect of ourselves. Did you expect, I guess, when you were maybe a teenager that you would be sitting here and you were like, oh, I'm going to live up to that. And I was like, oh, I'm going to I think in the back of my mind, I knew that I was always going to be successful because when I realized I wanted it to be a goal that I wanted and not what my dad wanted, I knew that nothing was going to stop me. But I think I always just in my gut knew that I was going to work for myself one day. What role did you play in your family in terms of your four siblings? Obviously your dad was in your life, but your mom passed away. Like what role did you play growing up? I think I was the black sheep. Like I think I was the one that was most forgotten about because my dad always knew that I was going to always figure it out. Like, like I said, like I, if I wanted something, I found a way to get it. And because of that, I think he didn't have to worry as much about me and worried more about my siblings. So I think that made me grow up a little bit faster and become more independent. They're like, I would have a little bit more of an up and down relationship with my dad. What was money like for you guys growing up with four kids? Because I feel like that's a huge pressure for a single parent to raise four kids in Los Angeles. It was hard. Like I think my dad used money as power. And like if we ever got in trouble, it was like always taking away something that he knew we couldn't afford or like get ourselves. And I'll never forget, I got in like such a huge fight with my dad. I was sitting at Fresh Corn Grill in West Hollywood. Like I just moved in. I moved home from college. And I was so over the like, I'm going to take away your keys or I'm going to like take away your car that I was like, excuse my language, but I was like, fuck it. I'm going to go get my own car because I'm not dealing with this anymore. Like I'm not going to do this anymore. I'm not going to have him control what I get to do or dangle things over my head. And I have that thought. But at the same time, I think like there's no playbook on what to do with four passes away at like such a young age. And I feel like I can't fault him for the way that we were raised because I think that's a big undertaking is raising four kids. Also like simultaneously with a stepmom who we all despised and hated. Like I told her like, my dad's going to divorce you one day. Like she was the worst. But like talk about an evil stepmom. She was an evil stepmom. And they're no longer together. No, no, no, no. Okay. They got divorced just like I said. Oh, hey. Yeah. Self-fulfilling prophecy. Yeah. Money, whether we like, like to say it or not is always a tool, right? It's a tool that you can use to buy financial freedom yourself, to buy things, to invest in yourself. But money is often a tool that people use to control and manipulate you. And that's why for me, my capital T trauma is I always have to have my own money, even in my own domestic partnership, because to me, that's freedom and it's opportunity. And I think especially as women, it's more important than ever for us to have our own money. What would you say the dynamic is with you and your husband now, with you having such a successful brand and coming from that background of feeling controlled with money? What is your husband and your dynamic as it relates to that? I think in the beginning, it was hard because obviously, if you're running a multimillion dollar company, you're successful. I worked my ass off to be able to live the lifestyle that we live. And the job that he's in isn't going to pay the salary of what an entrepreneur might get. And I think in the beginning, I. I was convincing myself of the societal narrative that a man has to make more than you and take care of the family. And through a lot of therapy, I was. And it probably comes from my dad because my dad took care of us. Yeah. After going to therapy for a long time, and I've been with my husband for almost 13 years now. So I think I just had to shift my mindset. He allows me to. He does not tell me how to run my company. And if I ask him for advice, he'll give me advice. But he doesn't offer it if I don't ask it. He does. He's not telling me what to do, how to do it. He supports me. He's actually the reason I quit my nine-to-five and started my own company. And without his support, I wouldn't be able to do what I do. He's a very hands-on dad. He also does go to work. And I. I think he just respects that. And we have one bank account. And I have my own separate bank account, too, where if I want to have fun money, I get fun money. And I get to decide what I do with it. So you got married at 25. 27. 27. Yeah. How old were you when you started SET? I was 25 when the idea, like, happened. Who was Lindsay Carter when SET was just an idea? I actually did have my own company. It was a social media marketing agency. I had clients. I was. I had contracts. I had the whole thing. Before that, I worked a nine-to-five, and I absolutely hated it. So you went off and you did an entrepreneurial. Entrepreneurial thing. So you kind of caught the bug. Yeah. The idea for SET comes. What version do you think of Lindsay you had before SET that you've had to break up with as you've evolved into this role of being a founder and CEO? I think for the most part, I've actually stayed true to, like, who I am because SET is built on authenticity and transparency. And I've always been that person for the good or not the good. Which we'll talk about. Yeah. Yeah. And I think that that's something that's been, like, a through line through building SET. I guess I used to be a people pleaser, like, before starting my company or my companies because I was doing both simultaneously at the time. And you can't really, like, people please and be, like, an entrepreneur because you won't be able to please them all. What do you think is the bravest thing that you've done building SET? Not giving up. People always told me when I was building SET that what's going to set you apart from other entrepreneurs or founders is pushing past the hard days. And everyone in this house can probably say, like, yeah, like, I've had hard days, whether it's been loss or you failed a test in high school. Like, everyone has a hard day. But I think that there's different definitions of hard. And I was like, yeah, well, I can get through a hard time. I had a hard time at work because I lost my mom. I lost my one of my best friends to cancer in high school. I have gone through heartbreak before. I can do hard. This is a different beast of hard. This is a hard that is so unexplainable to a human being unless you're going through it that makes you want to quit. Every fiber of your being is like, I'm done. And pushing past that is. The most exhausting thing I've ever done. 2023. Thanksgiving. Black Friday. Just the whole year. The whole year. It's, you know, it's so interesting. I was sitting in my VP of Productions office today and she saw my TikTok. I just made one about, like, having anxiety and everything just kind of catching up to me when I was on a family trip on Saturday. We went for, like, a 24-hour trip. And. She was just like, what do you think? What do you think's going on? Or, like, wanting to talk me through it. And I don't know how it came up on this topic, but my biggest argument with my husband right now is that I want a third baby and he doesn't. And I don't know what or why this revelation happened sitting in her office, but I just was like, that's why I want a third baby so badly. And it's because with baby number one, Ace, and my second. I didn't take maternity leave. I was especially with Ava. Like, I was working just to keep the lights on in the business. Like, it was 2023 was the worst. Like, I was making such questionable decisions and mistakes and I lost myself that year. And I didn't get to experience the newborn phase or, like, any of those moments that moms cherish and get to look back on. I didn't get that. And I think, like, that was my wake-up moment today where I was like, that, like, why do I want a third kid so bad? Like, I want to finally take mat leave now that I have this, like, epic team who, like, I can trust and I am not involved in every single meeting every single day where I can take that time and, you know, be with a newborn and actually be present. And I think that year, 2023 for you, was also the first year that you did face the first public criticism. And the first, I think this is the first time. I think this is the first time that we've really seen people, like, Instagram and TikTok are completely different spaces. And TikTok was really taking off. That's the year that I joined TikTok. And I was, like, really going at it. And I was seeing these videos being created of people criticizing you publicly. And it's one thing to hear it on, like, Glassdoor or Reddit page where, like, you don't know who it is. People are hiding behind their username, which is, like, pretty cowardless things to do. Creating a video on TikTok about criticism is a completely different form of, like, controversy or criticism. I felt like I saw so much of it happening towards you based on what you had talked about, which was, like, restructuring your social team, coming up with this thing that I think you called Super Set, which was, like, cross-functional, creative, happening across the business. Can you take us back to 2023 in terms of, like, opening the door to the level of criticism that Set has faced, like, since then? Since that point forward? Yeah. I mean, wow. That year, I literally, like, is such a haze because I was also postpartum. And when you're postpartum and your hormones are just all over the place, like, everything is fuzzy. I didn't realize that, like, one, TikTok was so new. Being a founder-led brand was also very new. And I saw it as an opportunity. Like, let me show the good, the bad, the ugly. And I didn't realize, like, how intense that app could get. And, like, I didn't let go of my social team. I just restructured it. I gave different titles. I mean, Chief Brand Officer didn't ever exist until the CBO of Revolve became the CBO of Revolve. Like, there was no CBO. Totally. I was just trying different strategies, seeing what stuck at the wall. I mean, 2023 was the year of throwing spaghetti at the wall and seeing what stuck. Which is also why we were able to see how much didn't work. And it was the first time. I'll never forget. It was bad. Like, I was crying every single day. I think Gina and Allie, Gina, who's our brand strategist, and Allie, our COO, who are so very close to me, showed up at my house one day because I was still work from home, but, like, working because I had a newborn. And we were sitting in my room, and I just was uncontrollably, like, sobbing. I was just so ready. I give up. And they came in, and it was kind of just like an intervention. Like, they're like, this is unhealthy. Like, get off Reddit. Get off your phone. Like, it was a time where people all started to take out their magnifying glasses and were armed and ready to pick apart every wrong move because they want to build you up just as quickly as they want to take you down. And it's the scariest thing that I've ever been a part of. It's so interesting. It's so interesting, though, because I feel like there's people that, like, let's take Emma Greed, for example. She has openly said on many podcasts, like, work-life balance is not my problem. That is something that people, sure, there's the critics of that, but, like, as a character, I don't think she's been made a villain. And I think what's been so interesting to watch your story specifically is I'm like, there have been so many things that have been taken out of context or, like, have been twisted in the same way where I'm like, that is what people think. say behind closed doors, like working hard. Emma Greed said it on a public stage of a podcast like work-life balance is not my problem you seem to have been made this character that people believe one side of you for someone that's watching this that is a critic of you what are the other sides of you that you want them to know how much i care like i respond almost to every single dm that comes in like i love talking with the community like set was one of the first brands to be built on community and it's because i was bullied in high school i wasn't the cool girl i wasn't the popular girl like i was the girl who was i was never included in the friday night plans i remember like wanting to throw a party at my house after a football game and after a win i was so excited like i was like party at my house like driving my stepmom's red mercedes back to my house and i was like went home to like go get everything ready no one showed up like i i was that girl and so when i decided to build set i had always told myself that i was gonna build it on the pillar of community because you are nothing without it my brand is nothing without it i care so much like it's not just product i'm making i'm creating a feeling and i think that when you are a founder-led brand and you're building a community one wrong misstep one wrong mistake someone to turn on you and i think that mistakes are like i i would not grow as a human if i didn't make mistakes and like if i'm not growing that's scary like i need to grow yeah and yes a lot of what i've said has been taken out of context or twisted or there's two sides to every story and that's the truth like i can make mistakes and i can learn from them and i do learn from them but i'm not the founder that i was when i started the brand at 25 i was a lost adult at 25 and then i was a new mom in postpartum delirium and i'm not saying that to make excuses there are mistakes that in decisions that i have made where i'm like what in the world was i thinking but it's also led me to be the founder that i am today and without mistakes you'll never grow and i'm not interested in anything else but that how would you describe the founder that you are today i would say an empathetic founder um i really try to see the other perspective before i think it's it's so interesting because i'll never forget it was maybe 2022 it was the first time like we had our office we had a team and someone i had looked up to my entire life who became kind of like a business mentor like kind of came in to help do like a leadership audit because like things were just getting out of hand we didn't have a real hr team it was just it was like time we had like 12 people on the team and she comes into my office that i shared at the time with ally and she goes lindsey they're scared of you and i was like yes that's what i want and she's like no you don't want that and i was like i don't and like the whole time like like i said there's no playbook to being a ceo like i thought you wanted people to be scared of you so that they would do the work or get the work done but like no you don't want that and i was like no you don't want that and i was like no you don't want that you do not want people to be scared of you you want to be approachable you want to be motivational creative i mean just understanding and like i've i'm so proud of like the growth that i've done because i am not the person that i was like even last year the growth from last year to this year is something i'm really proud of but it's been like the hardest road to get here and i think the craziest part of it is that i'm not the person that i was like i'm not the person that i was there's no like end point there's no destination like it's not like you you get to this point and you're like i did it the growth is done it's always going to continue and knowing that i'm probably going to make more more mistakes is like very frightening for me especially because i'm not going to stop building in public but knowing the growth that's going to come out on the other side is what motivates me this episode is brought to you by indeed you're ready to level up your business but the pressure to find the right person to make that happen is intense indeed sponsored jobs can help carry the load it boosts your job post to help it reach quality talent fast cut through the chaos with indeed sponsored jobs get a 75 sponsored job credit at indeed.com slash podcast terms and conditions apply hiring now then this is a job for indeed sponsored jobs someone listening to this that wants to make changes wants to grow what are they doing tomorrow next week the next few months to get to that growth to stop their style of leadership or the way that their company culture is currently running or the things that just aren't working i mean i think you have to face the truth face to face like i it was the first time you know like my business mentor at the time coming in to kind of do that business audit was the first time that i was hearing what employees had to say about my leadership and so now that we have hr and now that we have like you know sops and facing what people have to say like the negative like that's not fun you don't no one wants to sit there and like read what you have to work on but it's necessary and it's uncomfortable but growth isn't comfortable so anytime that you put yourself in a position to feel uncomfortable is where the growth is going to happen that's why i'm so excited to be here with you today and i'm so excited to be here to have you on because we talked about this at dinner and the whole goal of this podcast is to have the conversations that happen closed doors happen live for other people to listen and learn from and really create impact with that and i think i said this to you like i have my fair share of reddit threads that are anonymous like that doesn't actually hurt me as much anymore as i think it once did but the day that i am waiting for is when i see a video with someone's face that they are brave enough to put out like totally tearing down what i'm doing or having a completely different opinion because i think that means that i'm doing something right like i am having a pov i'm sharing it with the world but i don't know how i'm gonna feel in that moment of seeing it like what does it feel like for you when you see something like that i mean it's the hardest thing ever i've gotten better at it i i try to delete the app like if god forbid something is happening like i had my work-life balance video go viral and cut apart and all this old stuff come up and i deleted tiktok for like a month like i was like out of sight out of mind like all my friends whether they're famous or other entrepreneurs or other founders like that's who i lean on when when something like this happens because they've also been through it i think it says more about them than it does about me and i try to take the parts that i can change like if if they're saying something i'm like yep that is true that was my mistake like i now know that like i'm not gonna be able to do it again i'm not gonna be able to take accountability and own that and how can i make it better but if they're going after my appearance the way that i mother or anything in that regard i'm like excuse me like who do you think you are it's wild what people will do like what if an employer sees that they're making these videos i wouldn't hire someone who's making videos like that in two seconds i wouldn't i mean i'll this employee it was for a creative position she's still with us i'm obsessed with her she's the perfect employee like she's hard working she has the best creative ideas she's a team player and on her interview i was the last interview she was like i've seen the glass door reviews and i know there's two sides to every story and i'm excited to build this vision with you and i'll never forget when she said that to me like i was just like yes that's who i want on this team building this brand with me what is the hardest moment that you've had to take accountability for it just depends on on the year i guess this year like our biggest misstep was our breast cancer drop and for someone that's listening that doesn't know what happened we did a drop around breast cancer we donated two percent of proceeds back to charity and it caused an uproar on social media rightfully so that was the hardest the hardest part of our year for me so far and when you had to take accountability for it what was the hardest part of your year for something like that like what happens in an organization when you have to take accountability that's a hard question to answer it's like what happens if you're a you know this is corporate or it's amazon or jeff bezos makes something like it's maybe a statement that's written by a crisis pr team but when you're a community brand who is founder-led like you have to acknowledge the mistake it's interesting like i was talking back and forth like oh if this comes up on the podcast like how would i answer that and i started to say like out loud like you know i move so fast and i i heard in one year that other brands were doing one percent of donated back to charity but i didn't realize that that one percent was for the whole year like that was their initiative and so like when you're moving so fast and dry and then i was like no i'm not gonna make an excuse it was a misstep it was totally wrong and it's not like i did it on purpose i wasn't like oh my gosh like i want to make money and profit off of this job it for us. I remember being in the office and, you know, we called a leadership meeting and I was like I'm not okay with this what's the most we can do I was like I don't care if we lose money on this job what's the most amount of money we can give like we need to fix this right away and it taught well it taught me a lot of things but it definitely taught me that we now have a standard operating procedure for charitable giving which we didn't have before because had we had one before we wouldn't have been in this situation I'm so proud of you because I think this is the conversation that we had at dinner where I was like it's just taking accountability and like moving on right and it's like yeah I can't press rewind and do it all again what I can do in that like if you take me back to that day like do I want to like you know that movie with Adam Sandler click be like pause rewind do it again of course like I would in two seconds want to do that but unfortunately that's not the way the world works and so you have when you're a leader you have to be able to do that and I think that's what I'm trying to do and I have to sit there and you have to ask yourself what can I do right now to make it right like that's gonna make me feel good I don't it's not about anyone else in this moment like I'm not okay with this and this was a wake-up moment and what can I do right now and it was just a moment of like we need to have better procedures in place and like listen to our ethos like would Lindsay Carter be okay with two percent of proceeds no and I wasn't and it was just like I said a misstep everything in life is a learning opportunity right it's like are you gonna make the same mistake over and over and over again or are you gonna fuck up move on not make it again like that is real growth when you think about this statement there's no such thing as bad publicity like what does the brand worry about or have to look forward to when there is a moment like this right like there's there's a lot of people that are like controversy that gets stirred up do you hurt as a brand do you profit off of that like what actually happens to that statement there's no such thing as bad press that's such an interesting statement because like because I feel so deeply like press is press sure but like I don't want to be known as some like that's not me like I am the most giving person you will ever meet I pay it forward in a grocery store at a coffee shop probably more than I should I've been a giver since I was little and it just I think that you have to like separate it into different buckets honestly our sales didn't hurt and if anything they were higher than ever during that time which also allowed us to be able to give more which was something I was really proud of there hasn't been a time where I've been in the press where our sales were hurting but for me that's not what I care about I care about doing the right thing totally and that's what's always going to come first whether good press is or bad press is good press like that's not where my mind goes it's how can I make this right I think the reason I ask that is because at some point or another everyone listening to this podcast will feel like their life is over like they will feel like I've made a huge mistake I'm being teared down this is all going to stop the music is going to stop on good days I feel like that with my business to be fully transparent with everyone when there is a story and it's spun and it's been spun and it's been done or there is something bad like it doesn't mean that it's over like it is about learning and it is about growth but the brand set has been through so much and like I want to talk about some of the highlights now because like you guys have built one of the most cult-like communities where it's like you can't almost describe it to people that haven't seen it how do you think that you've done that I think by being authentic you can't fake authenticity you just can't and I think that people can smell fakeness from a mile away and I just I'm not that person I'm an open book that's really how I built this like it's because I've just been so authentically me the good the bad the epicness the greatness all the achievements that I've had but all the failures that I've had like I think showing that has been the most important thing for me and I think that's why people buy into the feeling because there's we're selling a feeling and like yes the product is good and we are so crazy about the fit and the materials and the quality and always trying to like I see one video and I count that video as one million videos like I see one video oh air lux is pilling I'll walk right into my vp productions office I'm like I saw a tiktok video that air lux is pilling we need to change the fabric and she'll be like just one you just saw one and I was like yeah just one and she'll be like well we need the data like what's the what's the healthy return rate are we within range are we out of range and I'm like well I don't know but there's a video that's saying it's pilling and like we can't have that like I'm so crazy about the product but it's also this feeling that you're buying into like anytime someone's like I just found set it's my first time trying the brand like I answer back I'm like welcome to the club sister happy to have you in the fam and like they get to feel a part of something that maybe they don't get to feel a part of in their home life I feel like there's no version of the brand that's built then in the future without you showing the good the bad and the ugly does that scare you of course it's like the scariest thing like like I said knowing that there's still more mistakes to be made and more growth to happen is both like the most the scariest thing in the world but also the most exciting thing in the world what's the best moment that you've ever had buildings at this is gonna sound so cheesy to say but it had always been a goal of mine to get forbes 30 under 30 and I got it when I was 29 and so many people especially now with the discourse on tiktok say like oh people pay their way to get on the list like some people might I don't know but like I definitely did not and I know very many other like very many people who got forbes 30 who also didn't pay their way like it's a rigorous process process they reach out you have to answer 1 million questions about your business about you about your numbers about your growth like then you have to get to the point where you're on the phone and do another formal interview and then you you hear nothing and then all of a sudden you wake up to an email saying congratulations you're in the class of forbes 30 under 30 and you're just like what like that's great it's crazy and I think that was like a big oh my god moment for me because it felt official like for me that felt like oh wow like my name's out there now and people know what I'm building we have such different experiences because that was also such a big goal of mine like I would have died to be forbes 30 under 30 and like I didn't get it and it's funny because I was never the person that was like this list is fake and this list is bought like all of the discourse we're about to see that like people pay their way onto this list I was like I'm so proud that I have so many people in my life that have gotten onto this list because if I didn't make it like I'm surrounding myself with people that are going to get me onto the next list right so it's so interesting to think about two different perspectives sitting in like a similar situation now of like drive ambition and like it's not going to be the same path that necessarily every single person takes you have made a million dollars in one hour yes what did that feel like like at first I thought it was a mistake I thought shopify glitched I was like what's happening like I read that almost 75 percent of it was in 15 minutes yeah it was crazy so what happened we had done something a little bit different we decided to do like active resort basically and when you think of like resort you kind of think of like darker colors like just like classic wardrobe staples and I was like no like I remember it was four years ago I was in Cabo like I do like I go every year and I was leaving the gym and I was in black active wear and all I saw everyone like walking in and out of black active wear and then the store also had only black active wear and like not fun colors and I was like there has to be more exciting like active resort like everyone gets a wardrobe for vacation it's usually when they become a little bit more of a daredevil and play with colors and mismatch things and like really bright colors I was like we have to do that with resort and it was risky because it was colors that like you probably would never put together and the campaign was just executed so well it was exactly like the feeling that I wanted to emulate it was shot in Mexico and I was like I don't know I don't know what to do with it but like I was like I don't know what to do with it but like I was like I don't know Our brains are wired to be like, OK, what's next and how do we make that bigger? better it's really hard to celebrate the wins as they're happening and it's often that you celebrate the win like a year later like yeah looking back resort was epic I'm so proud of myself like I can say that now but in that moment and every moment that is successful like we just had a killer Black Friday we crushed goals like it's again like this is our second best year that we've ever had and I'm like okay how do we make next Black Friday better I went to bed the other night wrote in my notes app like ideas for next year for Black Friday to make it better so is sets magic all about this drop model that you guys have built um yes and no we're actually changing up our strategy for the first time um well not first time but yeah basically first time next year like our core collection is just gonna be onyx um where it's available year-round like if you are new to set and you want to try it you don't want to like dabble in the colors like you can buy our best-selling colors in black then we're introducing seasonal shops that are in stock for three months at a time because what we started to realize is when we would gift influencers like they would post much later and by that time the product was sold out but we we want them obviously they're selling something that they're wearing like we want our customers to be able to get that but it would be sold out so having a seasonal shop will make it so that you can go in and get what you want for that season and then we'll have the like really refined storytelling like limited edition specials and then we'll have like a special drops the drops is such an interesting thing because i've seen videos of people being like i didn't get what i wanted but it's like there's only so much quantity when you're selling a million dollars or 1.3 million dollars in the first hour like are you planning for that demand every time we have a drop like we plan we're so far built into next year but we'll say like how long do we want this drop to be in stock for yeah you can only do so much with the data because we change our strategy it's like it sucks for us but it's you can't really compare apples to apples when you're making like data decisions because every year is so different but i can tell you that we're not ordering just a couple hundred units like we're ordering like thousands tens of thousands over 20 000 units a drop that's why next year we're we're kind of changing up the strategy where like something can be in stock for three months that's still fun that's still different and appropriate for the season and then we're going to have these like very limited edition still tens of thousands of units but more like very special edition drops that like feel special have you ever had a drop flop yes oh my god all of 2023 what was wrong with it it was like the colors were wrong like what happened i think we just took too many risks and we were so specific like it was we weren't world building for the masses we were world building for very niche communities how does the founder tell the difference i mean you have to be very plugged in to social media and like what people are talking about what are consumers saying what are they into like something a conversation we just had today was the the buying for like just the trend in general for a long time was like world wardrobe staples old money classic timeless things that will never go out of style and now what we're seeing with our consumer is they want fun they want fun colors they want patterns they want the attention they want the product to be like look at this outfit look at what i put together like they want the bright colors and like the fun styles and the unexpected campaigns and it's completely shifted but i only know that because i'm so plugged in on social media and i'm always just like grabbing it's like i saw someone wear their grandpa's like vintage christmas sweater with santa claus on it i was like oh wait i like that font i like that color i like and i'm like putting together pieces of like making this world come to life for black friday next year what is the superpower of lindsey carter i think it's my creativity like i'm always thinking of ways to just like level up and sometimes it works and sometimes it doesn't and like 2023 is a great example of that like none of my ideas worked like they all sucked like that's just that's what happened it was kind of like a fashion designer where they have hits and they have just like total losses yeah as a founder like you need to know who you're building for and like who your consumer is and i think i just lost sight of that in 2023 because i lost myself so how am i supposed to understand someone else if i don't even know who i am for founders that are listening to this that are having a horrible year like i'm not going to be able to do that i'm not going to be able to do that like they're getting divorced or they just lost someone or they've gotten terrible skin even like is it possible for them to go through that on a personal level and build a founder-led brand yes but it's not easy like it's just not it's it's interesting because like as you were saying that you're like oh they just got a divorce or they like there's different types of hard and i think that the word hard gets thrown around as just like one conceptual word of like hard is hard but there are so many layers to hard there's grief hard there's confidence hard there's leading hard there's like just being a partner hard like i think it's about understanding your priorities and like waking up and like if your marriage is falling apart or your business like being able to be like okay what needs my attention today so that it doesn't fail and that requires skill something that i find really hard building a business is friendships because i think sometimes they're competitive yeah sometimes they're exhausting but relationships give us basically after we have food water safety security what you need next is relationships and i don't know about you but when i leave a girl's night like it fills my cup in a way that i don't feel in any other dynamic especially when you're building a business it's so important i think you've been very selective about who you let into your founder circle this episode is brought to you by indeed you're ready to level up your business but the pressure to find the right person to make that happen is intense indeed sponsored jobs can help carry the load it boosts your job post to help it reach quality talent fast and it's not just about you it's about the people that you're working with cut through the chaos with indeed sponsored jobs get a 75 sponsored job credit at indeed.com slash podcast terms and conditions apply hiring now then this is a job for indeed sponsored jobs why i'm a taurus loyalty is my superpower and i think i just like put i used to put the expectation that because i'm so loyal everyone else has to be loyal but like i'm not going to do that and i was being let down so often by friends that it was such a letdown that it was like hurt like i took it so personally when nine out of ten times it wasn't personal and so when i made my circle smaller i was able to like identify what does fill my cup i have a lot of friends but i i'm selective on who i spend my time with and i also don't drink i nine out of ten times probably want to show up in sweats i don't want to show up in sweats i don't want to show up in sweats i don't like to go to dinner past 6 p.m like hi you're with me at shake shack unless i'm with maggie at shake shack which by the way was a 6 p.m dinner um and i just know what i want now and it's made it like easier to find those like like-minded people like i remember i forgot who i was talking to i think it was you where i was like is this a sweats dinner and you're like fully yeah i was like okay great like that's exactly what i wanted to hear but it's also made the relationships and the friendships that i do have in my life like just they fill my cup like in ways that i can't like i just trust them wholeheartedly and um know that you know i'll give you i mean sorry chels i'm gonna say the story but i um i was having a lot of anxiety like on saturday just and when my anxiety comes out it's like an alter ego like i don't know what i'm doing i don't know what i'm saying it's like it takes over my brain and convinces me of some things that it's so sure of that i'm not able to like talk myself out of it and it makes me like self-sabotage a relationship and i was like picking apart something that pissed me off with chelsea and she like just knew what to say like she was like this isn't what happened like blah blah and i said to her which was scary but like i was like i'm just having a lot of anxiety right now and she could have answered i've been going through a lot she's pregnant her family dog was dying and like i i wasn't registering like i wasn't like hearing that she said she was going through a lot and kept going and going about the thing that was bothering me and she was like winzy like stop i love you there is nothing absolutely nothing that you could say or do that's gonna make me not be there for you or not love you you're more than a sister you're my best friend and i was like that's all like it like pulled me out of the like anxiety loop that i was having in my head and then i then it comes the like regret and like i can't believe i like who was that what happened like you don't recognize what's happening during a panic attack And, like, I choose people like Chelsea because that's what you need, like, when you're going through that. And, like, she's gone through something, too, where she's picked up the phone and called me and said, I can't do this anymore. Like, whether it's in business or this or whatever it might be. And I have to be that strong person for her. And I think it's really special that now that I, like, used to have – I cast this big net of friends and then I reeled it in. And now, like, the people that I have who surround me are, like, ride or die for me. And I think it's really important to have that when you're building in public. How do you and Chelsea maintain not competitive but collaborative with each other? Because it's not competition for us. Like, we're so upfront. I remember, like, I cannot keep a secret to save my life. Like, which is – like, my team literally is like, do you have to tease everything the day after? Like, literally the day that we just dropped something else. And it's, like, impulsive. Like, I'm, like, I have to show – Why are you like that? I'm so excited. Like, I'm just so excited about what's coming that, like, I have to show – it's, like, I don't want to keep a secret from my friends. So I'm not going to keep a secret from my community because my community feels like my friends. Right. Like, especially my broadcast channel. Like, I'm, like, those are my people. And with Chelsea, like, she's my broadcast channel. So, like, I remember a couple months ago – months ago. We are way before Christmas and the holidays. I sent a T-shirt. I sent a T-shirt. I sent a T-shirt. I sent a teaser of a plaid sweatshirt. Like, a sweatshirt that said, set with plaid. And she goes, ha-ha, I have that coming, too. And I was, like, epic. If yours sells out, like, send them to me. Or if mine sells out, I'll send it to you. Like, I think we just motivate each other. And, like, I – like I said, like, we just know that at the end of the day, if we didn't have our businesses, like, we'd have each other. And I think we just constantly put each other first. And it works. Like, we talk about everything. We talk about numbers. We talk about what we have coming. Like, I know her line plan. She knows mine. Yeah, there's crossover sometimes. But, like, there's enough room for everyone, truly. And I think that, like, we both know that in our gut. And we don't really let it get in the way of our friendship. Do you guys have boundaries? Like, what kind? Like, I know for people listening to this that want to start a business with their friend. Or even me with my sister, right? Like, I remember the first time this happened to me with a friend in business. They wanted to do something. And I was like, we need a contract. Like, I'm not just doing this based off of word of mouth, handshaking deal. Like, I love you. But we have to actually work things out. Like, this is still a business deal. And I think my friend at first was a little bit taken aback. Because they're like, we're friends. Of course, don't you trust me? And I'm like, of course I trust you. But this is still a business transaction, right? And so I think the reason I ask that is, like, when you work so collaboratively with your best friend. This is relatable to anybody that wants to build with their friend. Yeah. What are the boundaries that you put in place to make? To make sure that those relationships survive and work? I think you have to, like, understand when it's work or when it's friendship. Like, if we're doing a collaboration with each other, like Park X Set, we need to follow that standard operating procedure. Like, my friendship is out the window with Chelsea. This is about Set and Park. What does that look like? If we were doing a collaboration with Sour Patch Kids. I'm looking at the candy on your wall. Like, we're going to write a contract. And I think it's just, like, follow. Like. Like, having SOPs are so important when you're building a company because you can default to that every time. And so, like, yeah. Like, I remember the first time I thought of the idea, the first, very first collaboration with Chelsea. I called her. We were in a fit meeting. I was like, I have an idea. Like, I want to do active and make it, like, really girly because you're really girly. She's like, I'm in. And I was like, great. Let's get our teams to, like, do the talking, do the contracts, and then we can start the fun part. And, like, that's just how we navigate stuff like that. But hard stuff first. Hard stuff first. First, get it out of the way. And let your teams handle it because your teams are in place for a reason. What's the relationship in your life that's changed since SET has achieved so much success? I've lost a lot of friendships. I hired friends. And that was really hard. And, like, I'm still grieving some of those friendships that I've lost. But it's part of building. And it's been either, like, my missteps and my mistakes. I should have never hired them. But when you're desperate, sometimes you hire out of desperation. And sometimes you actually do believe that this person can do the job because you love this person so much. And that, I mean, there's so many different reasons why friendships have fallen apart. But it also taught me, like, don't hire your friends. No. What if your best friend that's, like, the best employee, you're just like, no. No. If Chelsea called me tomorrow and was like, I'm shutting down parks. And I want to come be the co-founder of SET, I would say no. Why did you never have a co-founder of SET? Because I had a co-founder with my other company. And it was like she was my best friend. And it did not end well. Do you have a rule that you just think every single type of person shouldn't do business with their friends? Or you just don't want to do business with your friends? I don't want to do business with my friends. But I think that you can do business with your friends. Do your employees become friends? They used to. And now there's just this. It's a strict boundary. Yeah. Because the boundaries get muddied. Like, I care for my employees so much. I love my employees so much. But I am not their friend. I actually don't have a lot of friends. Like, I go home and I get in bed after my kids go to bed and watch Bravo. Those are my friends. Oh, my God. I feel like, for me, it's interesting because I spend so much time working. I want to be around people I really like. Yeah. And one of the things that I've done that has been a good lesson for me is, especially with employees, not really, like, peers, it's I need to set boundaries at the beginning because I'm a very giving person. I'm a very fun person. And I think as soon as those go out the window and you lead as a friend first, it's very hard to become a boss second. 100%. You're not respected in the same way. And I think for me now, I know it's like I have to be a little bit tough up front and a little bit, like, less friendly. And less asking you about your relationship or what's gone on on the weekends. And it's like, this is a place to work. And then I think you can lessen things up as they go. Yeah. I completely agree. What is the dream of set? Like, where do you go from here? I'm just really excited for next year. Like, just like the storytelling. And I love, like, pushing myself creatively. And so, like, seeing that come to life. But I saw something or I don't know if I was listening to it. I'm not like. Like, something happened this week that it was like, there's just like I was saying with building like a business and, you know, like, you're going to continue to make mistakes. Like, there's no destination of success. Like, you're not just like, I made it to Pleasantville. And like, now you stop. Like, I feel like, you know, we had our down year. We stabilized last year. And we're up this year. And it's our second best year sets ever had in eight years. And it feels like the beginning again. And like, I'm more motivated than ever. So, like, I don't know what that looks like at the end because I'm not building for an end. Like, I'm building what's in front of me right now. And that's giving, you know, the community what they want and connecting with them on every level possible. Okay, Lindsay Carter, I'm going to ask you some rapid fire to finish up. Okay. What is the last thing you put on your credit card? The last thing I put on my credit card were three pairs of vintage. jeans from RLT. Love it. Yeah. What's the last most expensive thing you put on your credit card? A Chanel bag. What would you title this season of your life? I would say being unapologetically me. Love that. Are you a morning or a night workout girl? Morning. High intensity or low intensity workouts? This feels very fake to answer. Like, I am so, my motivation to work out is like zero right now. I was like on a grind. All of last year in the beginning of this year. And like, it's been out. Like, you're no longer at burn at 6 a.m. No, I need to get back into it. I really, really need to get back into working out. Like, I just texted my husband, like, I need to get the motivation again. But it's just not there. Why? So, I broke my back in January of this year, horseback riding. And ever since then, I've had really bad back problems. But before that, I had a weak back in general. And everyone, doctors, my husband, who's crazy. Crazy about working out has always said, like, you have to strengthen your back. And today, like, honestly, my back hurts so badly. So, I texted him. And he's like, babe, like, we got to get you back into strength training. Like, you need those muscles to, like, you know, have proper posture. And you sit at a desk all day. And, like, I'm so tired of my back hurting that, like, I just need to get back into it. And, like, I feel great after I work out. I just don't know why. I'll let you know when I have the answer. I don't know why I'm so unmotivated to work out right now. Okay. Who is your favorite comfort creator? You're going to laugh. Like, it's my, it's Father Kels's, like, eating videos. Like, I am so intrigued by, like, what restaurant she's trying. And, like, she makes everything look so good. The amount of saved videos I have on, from her account of, like, just, it's just, those are videos that I'll watch through. Other videos, like, I'll probably do two times speed or just, like, go to the next one. But, like, a Father Kels video on, like, rating a restaurant, I'm, like, locked in. in. What is your favorite set product you've ever created? Luxform. Luxform fabric. I love it. Lindsay Carter, thank you so much for coming on. Where can people find you and how can they help you? You can find me on Instagram, Lindsay Carter. My broadcast channel is very fun. I'm very active in it. I text it like my group chat. And you can help me by paying it forward to someone else. Thank you for being so brave. People are going to learn a lot from you and definitely feel inspired after listening to this. So I can't thank you enough. And I'm very proud of you. Love you. Love you. Y'all know I love a mood board. So everything that relates to the creative, the name, the brand, the website, the vision board. This is where our sponsor, Northwest Registered Agent is so helpful. Get more with Northwest Registered Agent at northwestregisteredagent.com slash HSR free.