EP 18: Seasoned CEO Revolutionizing At-Home Hair Coloring

Amy Errett | CEO and Founder of Madison Reed

Amy Errett walked into a drug store, bought 30 boxes of permanent hair color solutions, and left on the verge of discovering a gaping hole in at-home hair coloring options. Now her venture-backed business is challenging beauty brand titans like L’Oreal and Clairol, but she’s not intimidated at all.

Amy Errett, photo credit Christoper Michel

Photo Credit: Christoper Michel

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Episode Summary

Although Amy Errett has years of experience as a venture capitalist, founder, and leader of some very well-known companies, she didn’t intend to start Madison Reed as a full-time business. Already deeply involved in a number of companies and charitable organizations, she initially just wanted to identify the consumer pain point, fund the incubation of the idea, and hire a team to bring the product to fruition. But then her daughter (the original Madison Reed) challenged her to do more.

Now, according to Amy, “Madison Reed is a hair color company that has reinvented the entire hair color product, process, and delivery mechanism.” In just a few short years, her company has developed the lowest chemical profile of hair color that’s delivered to your door in a box. The process is easy, the components are eco-friendly, and the proprietary hair color matching algorithm and color profiles database could end up being the most valuable asset of this business.

In this episode, Amy shares how big of an opportunity Madison Reed really is, why launching this business is redemption from that one venture capital “investment that got away,” and how being a seasoned entrepreneur helps ensure that her investors will get what they expect and deserve from the company. As Amy points out, VC is a risky investment. But she believes that she knows what her company needs to do in order to create outsized returns.

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