One Kings Lane has raised $67 million in financing and is doing more than $100 million in annual sales, so it’s safe to say that CEO Doug Mack knows a thing or two about how to run a successful company. As so many other business veterans point out, most of a company’s success hinges on the team. But Mack also emphasizes the importance of culture fit, which is why, as CEO of Scene7 and One Kings Lane, he dutifully interviewed each and every candidate himself to determine whether or not they were a good fit for the company.
“At One Kings Lane we look for people who are very customer-focused, who are very passionate about eCommerce and the home décor industry, and we look for people who are really innovative—people who don’t just want to do the same thing other companies are doing.”
Equally important, said Mack, is focus. The Web is an endless bounty of options, so young startups should be grooming themselves to provide something different—something special. If you take on too much too fast, you run the risk of just becoming the second or third best in any given segment.
As for the future of the flash sales industry, Doug Mack underscores the importance of curation. You can always go to Amazon and find everything and anything you need, but sites like One Kings Lane that focus on curation end up picking up a small batch of high-quality goods that they can put their brand behind.
“We curated first, but consumers will be the next to curate,” said Mack. “I believe that consumers over time will be willing to receive five to seven emails a day on topics that they’re interested in.” They might be interested in home décor, apparel, kids wear, travel, and so on—and they’ll sign up to receive emails from the companies that are the absolute best in that segment.
“For those companies that are not innovative…I see those companies fading into the sunset,” said Mack.
