Self-made millionaire and Skims founder says no.1 mistake new entrepreneurs make 'is waiting until...'

Emma Grede is the founding partner and chief product officer at the American clothing company Skims, which was co-founded by Kim Kardashian. (Image credit: LinkedIn)

Aspiring entrepreneurs often delay launching their ventures until conditions feel ideal — and that, according to Emma Grede, is the number one mistake founders make.

Grede, the founding partner of Skims alongside Kim Kardashian, CEO of Good American and the first Black woman investor on business reality show Shark Tank, shared the advice on a recent episode of her podcast Aspire. “Here’s the truth. The number one mistake founders make is waiting until everything feels perfect,” she said. “I’ve succeeded. I’ve failed multiple times. And having mentored and invested in countless ideas and founders, I’ve learned that most people overcomplicate the process and they fail to start.”

The millionaire entrepreneur's comments come as interest in entrepreneurship surges. A 2024 Gallup poll found 62 percent of Americans want to be their own boss, but many hesitate due to financial constraints, lack of business knowledge and fear of failure, CNBC Make It reported. Grede acknowledged those concerns but stressed that risk is inherent to building a company. “We all have bills to pay, people that rely on us — children, parents, significant others — and that’s real. But the truth is, taking a risk actually is part of starting a company,” she said. “Risk is not something that you can get rid of. It’s something that you need to plan for.”

The Skims's founding partner urged founders to reframe risk as a learning opportunity rather than a deterrent. “If the risk doesn’t pan out, you can create a new plan of action based on your lived experience and refine your approach,” she said.

Her advice echoes examples from tech history: Steve Jobs launched Apple in a garage as a college dropout, while Nvidia co-founder Jensen Huang admitted he “had no idea” how to start the AI giant when he began at a Denny’s breakfast bar.