Fareed speaks with Sophia Amoruso, founder of the online clothing store Nasty Gal, and author of #GIRLBOSS, about what advice she would give to millennials. Watch the full interview this Sunday at 10 a.m. and 1 p.m. ET on CNN
What are your pieces of advice to millennials? What do you think they need to know as they go out into the world?
So in GIRLBOSS, I say, don't act like you've arrived when you're just receiving an invitation, which I think a lot of people do. They get their first paycheck or they get their first promotion and they're like woo hoo! And maybe don't plan their finances as well as they could.
At Nasty Gal, I always socked the profits away back into the company. I paid my first employee more than I paid myself for a good while. And it was just fun for me watching the baby – the cash, you know –kind of pile up. I didn't want to do anything with it. It was just like I have a business and my very simple kind of naive idea of business at 22 years-old was you sell things for more than you buy them for, and then the company makes money.
And that is, I've now learned, a very rare thing – especially in Internet businesses – and something that the world was very surprised by. So I think there's something to learn from that.
So if you look at all those kinds of pieces of advice…and you say write thank you notes, dress well...
Don't chew gum, put your phone away during an interview. It feels like you've come to these pieces of, one might even say very traditional wisdom, the hard and long and complicated way. But what you're saying to people is sort of straighten up, smart up and...
It's actually really old-fashioned advice...
And it's only through not doing those things, or maybe thinking, maybe people don't need to do those things, and experiencing what happens when someone shows up smacking their gum or they're not wearing a bra or they lean back in their chair and have no questions when you say “do you have any questions for me.” Which, at the end of the day, is just like are you curious or not, like how interested are you in what we're doing?
And there's very conventional things in the world that I've learned very unconventionally and are important to pay attention to.