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Purpose over Profit with Thrive Causemetics CEO Karissa Bodnar

A Bit of Optimism

Mon Oct 09 2023



Starting a Cause-Based Company:

  • Karissa Bodnar built Thrive Cosmetics to be completely cause-based and extremely profitable.
  • She started the company in her one-bedroom apartment nearly a decade ago.
  • Thrive Cosmetics has donated over $135 million to charity.

Building a Business Differently:

  • Karissa wanted to build her business differently than what others were telling her.
  • She cares about people and doing the right thing, not just profit.
  • Her values led her to focus on philanthropy and purpose in building her business.

Challenges of Traditional Business Advice:

  • Traditional advice includes paying yourself first, using cheaper ingredients, and paying employees less.
  • Karissa didn't pay herself for many years despite traditional advice.
  • She believes in creating excellent products that align with her values rather than cutting corners for higher margins.

Leadership Approach:

  • Karissa trusts her gut and leads the business based on her own beliefs and values.
  • She cares deeply about innovation, giving people access to confidence-building products, and making an impact through philanthropy.
  • She believes in surrounding herself with talented individuals who can challenge and inspire her.

Leading by Example:

  • Karissa uses herself as a consumer of Thrive Cosmetics products, showcasing confidence in their effectiveness.
  • She believes it's important for leaders to use their own product and have integrity in their brand's mission.

Customized Leadership Styles:

  • Karissa recognizes the importance of understanding how each individual team member wants to receive feedback or criticism.
  • Different people have different communication styles, appreciation languages, and ways they respond to goals. Leaders should adapt accordingly.

Creating Accountability Culture:

  • Karissa prefers to keep Thrive Cosmetics as a privately held company.

Choosing Investors with Values Alignment:

  • Karissa emphasizes the importance of selecting investors who align with the company's purpose and values.
  • It is crucial to do due diligence on potential investors and ensure they are willing to support the company's vision rather than push for short-term gains.

Good Leadership and Followership:

  • Good leaders should also be good followers, valuing input from their team members.
  • The Marine Corps' approach of evaluating both leaders' decision-making and subordinates' ability to support those decisions can be applied in business leadership.

Owning Mistakes as Leaders:

  • Karissa believes that owning mistakes as a leader gives permission for others to do the same.
  • Transparency about failures allows for growth, learning, and building trust within a team or organization.

Overcoming Challenges:

  • As a teenager, Karissa lacked direction and community but found purpose through Future Business Leaders of America (FBLA).
  • A woman executive at Zappos inspired her with the question "Why not you?" which shifted her mindset towards embracing opportunities.

Building Community within the Company:

  • Karissa takes pride in seeing employees grow within the company.
  • Specifically, she mentions Maria's journey from a social media coordinator to leading teams in philanthropy.
  • Creating an environment where individuals can bring their unique skills and unlock their potential contributes to personal growth and overall success.

Feeling Seen and Valued:

  • Simon Sinek highlights how Karissa makes people feel seen, giving them confidence and purpose through Thrive Cosmetics.
  • The sense of being seen is reflected in naming products after inspiring customers who embody beauty, confidence, and impact.

Proud Moments:

  • Karissa expresses pride in witnessing employees grow within the company.
  • Specifically, she mentions Maria's journey from a social media coordinator to leading teams in philanthropy.
  • Having talented employees who contribute their unique skills is fulfilling for Karissa.

Leadership Growth and Learning:

  • Karissa sees her role as a constant learning experience and strives to surround herself with people who challenge and inspire her.
  • She believes that being an entrepreneur means constantly evolving and adapting to the changing needs of the business.

The Power of Mentorship:

  • Karissa highlights the impact of mentors on her own growth and success.
  • She credits the support and guidance she received from mentors in helping her navigate challenges and make informed decisions.

Creating an Impactful Company Culture:

  • Karissa values creating a culture where individuals feel seen, valued, and empowered.
  • Thrive Cosmetics' focus on naming products after inspiring customers exemplifies this commitment to recognizing individual stories and experiences.

Balancing Profitability with Purpose:

  • While profitability is important, Karissa emphasizes that it should not come at any cost.
  • She prioritizes purpose-driven initiatives such as philanthropy and innovation alongside financial success.