Sharon Price John has led Build-A-Bear to new heights—and her journey to the C-suite started serving people burgers at a Fortune 500 fast-food chain.
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00:00There's a lesson in there about how beneficial it is sometimes to not know your odds.
00:06When you don't know that your odds are ridiculously impossible, you believe in the possibility
00:11and with that very belief, you actually tip your odds in your own favor.
00:16Sometimes you have to look at the facts of the matter, but don't let facts overtake your
00:23dream.
00:24Somebody out there is going to get it done.
00:26Why not you?
00:27Hello, I'm Sharon Price-John, the president and CEO of Build-A-Bear Workshop, and this
00:33is my secret to success.
00:35I grew up in a small town in Tennessee, south of Nashville, about 7,000 people.
00:41My dad worked for South Central Bell, AT&T, and then he eventually worked for NASA.
00:46He was in communications there at NASA, and my mom was a church secretary.
00:51I worked at McDonald's.
00:53I worked at a florist in my hometown.
00:56In college, I had some summer jobs as well as waitressing and random jobs like you do
01:03in a small town.
01:05I went to undergrad at the University of Tennessee in Knoxville, Tennessee.
01:08My first professional job was in a big furniture store as the head of marketing and merchandising.
01:13I was reporting to the president of this company, and it was a fascinating experience, so that
01:19was really fun.
01:21I then went to an ad agency in Knoxville after that.
01:25At the University of Tennessee, the ad club had already been to New York during my senior
01:30year.
01:31I visited some of the top 10 agencies, and I definitely wanted to go back.
01:36I put together a crazy plan that I was going to use my one-week vacation, fly to Manhattan,
01:45set up all of these interviews.
01:47I had this vision that I could get a job at a top 10 ad agency in one week.
01:53This was my goal.
01:54I set up 15 interviews, three per day in Manhattan.
01:59I thought that should be fine.
02:01I ended up with a 16th interview on that Friday, and they said, well, we love you, you know,
02:10we think this is great.
02:11We'd like you to join our training program.
02:13We'll get back to you.
02:14And I'm like, why can't we just, why can't you just offer me the job right now?
02:19And she literally offered me the job right at that moment.
02:22And I got my job in a top 10 New York advertising agent, global agency in one week.
02:28So from the New York ad agency, I ended up working at another major agency where a gentleman
02:35on the client side, he recommended that I get my MBA.
02:38And he talked me into applying to Columbia, and it took a lot for me to convince myself
02:45that was a possible dream.
02:46I got in on the last round, and off I go to Columbia for my master's in business.
02:54I didn't want to do what most MBAs from Columbia do, which is venture capitalism or private
02:59equity or investment banking or management consulting.
03:02So I sought out brands and businesses that were really inspiring and special to me.
03:08And so I initiated the interview and the opportunity with five different companies, one of which
03:15was Mattel, mostly because I loved Barbie.
03:18I did get the job at Mattel, but not without a few tries.
03:22I ran Barbie fashions, which was awesome.
03:24Mattel was a fabulous experience.
03:26Learned so much about brand, brand management, brand building, the toy industry.
03:33I also had gotten married in the meantime and was about to have my first child.
03:37And so I left Mattel and my husband and I moved to Chicago, and then went to work at VTech
03:43Toys.
03:44Then I ended up starting my own entrepreneurial company by buying another fashion doll.
03:49It was the number one selling fashion doll of the 1970s.
03:52My next large company was Hasbro.
03:55From Hasbro, I went to Strideright Children's Group.
03:58I was recruited there to be the president of the division to turn around the retail business.
04:04It's a children's footwear company, and I had not had any experience doing that, but
04:09we turned that around, returned the company to profitability on both the wholesale and the
04:13retail side.
04:14That, in so many ways, made me a pretty viable candidate for the CEO of Build-A-Bear because
04:21the founder, Maxine Clark, was ready to retire.
04:23At that point, I understood the toy industry, the sourcing industry, everything along those
04:29lines.
04:30It was a difficult turnaround.
04:31It was financially struggling.
04:33The company had lost $49 million the year before I got there.
04:37They had been working very hard to return the company to profitability after eight years
04:42of contraction by getting back to what they had done when they were so successful.
04:48But the world had changed in 2008, 2009, 2010, leading up to me coming in in 2013.
04:56And there really wasn't a going back.
04:58And I think that when I got there, there was also a lot of fear that I would somehow, sort
05:02of theoretically, rip the heart out of a company that was full of so much heart to returns of
05:08success.
05:09And so this was an interesting type of turnaround where I had to be extremely respectful, as
05:16well I should be of what had been accomplished and assure the organization that I believed that
05:23we could be successful while keeping the heart and the culture of Build-A-Bear.
05:27And we laid out a strategy that was about monetizing the extraordinary equity that was in this brand.
05:34The company literally had built something that started as a vertical retailer in malls for
05:40kids that almost didn't realize what a powerful, emotional, memorable experience, particularly
05:49that heart ceremony was.
05:51And that all of that equity was still just packed in this brand.
05:54And I wanted to pivot the organization and start with the return to profitability before
06:00we started growing the revenue line, which took multiple areas and bringing in new leadership,
06:08new organizational structure, a new IT infrastructure across the organization to be able to do this.
06:16We popped out with a great team and a great strategy, not just thriving, but surviving.
06:22And we're now, I've had three years of record setting results.
06:26I think that I am most proud of the fact that the heart of Build-A-Bear still beats and that
06:32we have both believed and proven that you can be a company that adds a little more heart
06:39to life and be successful.
06:41And I think that the associates at Build-A-Bear were as surprised, maybe the
06:46investment community.
06:48But there was a lot of, you can't be an e-commerce company because you're an experiential retailer.
06:55You can't, you'll never be able to appeal to an older consumer.
07:02You know, this is a fad that, you know, Build-A-Bear is not, there's no place for Build-A-Bear
07:07in today's world.
07:09Malls are dying.
07:11It's just pretty remarkable how many hurdles can get thrown in your way and you have to
07:18hold fast to your vision and get a team that believes and kind of plowing through that with
07:28good results is very satisfying.