YouSaid · the spoken record

Kathleen King

lines on the record: 80
first: 2019-12-16
most recent: 2019-12-16
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“A word. They just were like, Oh, congratulations! I'm proud of you to. Because that's who they were. They never once mentioned the My father always told me as I was becoming successful, never forget where you came from.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“No, it's not luck. I think it was more worked really hard putting it together. I never gave up. I never let its success get the best of me. If anything, and not luck, I think sometimes it was my destiny.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“No. Um, I've asked myself that several times and sometimes when I see young people working like really, really hard, like in the corporate circle going round and round, I say to them, you know, try to always keep the balance because if I had to ask myself if I would do it all over again, would I? I still don't really have an answer.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“You have to do it for a period of time. But the key point is knowing when to let it go. Yes, to create something from nothing requires that kind of dedication of day and night, but a lot of it is self driven of nobody's as good as I am, nobody can do it as good as I can. And that keeps you trapped because you're too focused on all that emotional attachment that comes with creating something from nothing.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yes, that is true. The biggest disaster of my life was really became the greatest gift of my life. And like when I started Tates, I said, I'm not giving blood for this company because I did that already for Kathleen's and I ended up standing there with nothing. And the thing I regretted losing the most was my youth I worked my youth away. You can't get that back. It was quite an eye-opener to realize we are a society of feeling like we have to give up everything and sacrifice everything and work day and night in order to achieve and get ahead. But in the big picture, it's really not true.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Know, I can donate more and I can be more generous, which is great. The one nice thing is I was able to buy my dream property of childhood that I never thought would have ever been an opportunity in my lifetime. But other than that, everything else is the same. I like to ride my bike. I like to wear jeans and a t-shirt. I like to watch movies on my own TV. Lot of stuff, you know, it creates a burden. I don't want anything I can't use. I don't want anything I have to guard. It just doesn't interest me.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Well, I didn't become that, but other people thought I became that. I thought I lived great before. Really haven't changed the way I live because I liked the way I live. Like, I'm all about freedom and time.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“No, you know, it went for like twice for what I originally thought. And I remember Closing over the telephone. I was in my own office. Everybody's on the phone. And then it was over. It was done. And everyone's like, okay, yay, thanks, bye. And I walked out of my office. And I think I went home and made dinner. I don't know. It was so, you know, kind of another deer and headlights moment.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Majority stake. Yes. In the end, we settled on Riverside and I ended up selling 80% of the company because I was really ready to retire.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yes, it started off with like something like 50 people that showed an interest. We narrowed it down to like 12, you know, put in another bid, and then it came down to like five.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Well, you know, my business manager and I, we would discuss it a lot and a lot of, you know, investment bankers, they're all watching. But this time around, I was going to do everything right. And I wasn't going to leave a penny on the table. So I interviewed a couple bankers and I settled with TM Capital in New York City.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yes Um, you know, we were always busy. Like, I can't say the lines out the door, but we were always increasing, you know, Tate's, you know, had like a 30% or more increase per year. Which is amazing.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I mean, some buyers would contact us. Michael was also a great salesperson, so he helped negotiate some of those deals to get into various locations. And because Michael was such a great numbers guy and forecaster, we did then do every year he would say, okay, this here's the plan. I drew up three forecasts for you. We can do A, B, or C. If you do this route, you'll make this. If you do this route, you'll make this. And if you do this route, you'll make this. And then he would say, which route do you want to take? And I would say, okay, this one works for me. And then we would do it.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Well, that took time. I mean, first of all, we started, first we had our own trucks, and we went for small guys with like ten to twelve SKUs, and then we would strategically pick areas of the United States that we were going to go sell to start to build our foundation with upscale gourmet shops. That's kind of like the first year when we were building our brand. And then as we started to get bigger, we went into the second tier, which was like the whole foods, the fresh markets, Cinderella.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yes, we turned that into a commercial kitchen, first making it 15,000 square feet and then adding on because we had space to add on and we added on as we needed”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“I mean, I would say we maybe started out a couple million, but as we start to expand, a couple years down the road, I rented a 5,000-square-foot additional kitchen. And then I needed to, we outgrew that, and so then we needed something bigger. So I purchased a school in East Maurit”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“No, I thought I did think bigger than that. You did. I didn't think as big as I went. But, you know, I was going to sell at 55 so I could retire.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yeah. First of all, I had to get all of Long Island and New York City back because my whole story was so public. Some stores welcomed me with open arms, some stores stuck with the Kathleen's brand, a lot of stores carried both. And that's how it shook out. And then even when I was some vendors I had for 20 years and when I opened up Tates, they treated me like I was a brand new customer. Others were just so helpful and just said, Okay, I know you owe us this $40,000. You know, you pay that off when you can, and we're stand by you. You know, it's amazing. You know, just the difference of people. Just amazing.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yes. And when Michael came on board, We went through all the products and the products that had the highest margins is the ones we focused on selling. So we just kind of really zeroed in on the cookies. Know starting Tate's was about surviving. So, you know, when you're in a survival mode, those things, those kind of decisions weren't hard. They just had to be executed. They just had to be done.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“No, because I don't think about what others are doing. And I just had to think about what I had to do. And of course, my goal was to take them down.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“No, he was great. He felt to me like a lifeline. But it was safe because I could walk away anytime I wanted. You know, I wasn't bound by any contract or money or anything. I find not trusting people way too exhausting. And it's not the way I want to live my life. So I was very, very naive. I used to trust blindly. Now I still trust everybody, but I trust with my eyes open.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“His name was Michael Namy. He was in the city, and he became my business advisor, which really was a godsend for me because I am very instinctual, but of course I make mistakes from time to time.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Know my employees all rallied to work hard, and I, um, ended up remortgaging the bake shop because I had it paid off because it was a 15-year mortgage, so thank God for that. I remortgaged a bake shop, so I got some money so I could have some cash flow to make more money. Yeah. And then I ended up hiring a business manager because I was in such financial trouble I needed to have a business creating income.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“It was my dad's name. Was just a nickname, but everybody called him that. So I wanted a name that was like a local name that was genuine and integrity and kind. And that was like my dad. So I thought that that would fit nicely for the big shop. And I ended up I had to get open for August because it was the season and the August, at least I could make some money.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, it was very draining. I would say opposed to like rage and bitterness and all of that, I was really kind of more, I walked around, kind of in a little bit in shock. I had felt that, you know, every emotion that I could have ever had was stripped down to the bone. know what I had left in me truthfully And I didn't have any choices like I couldn't go get a job anywhere else because I didn't know how to do anything else. I just had two years of college and the things that I didn't know how to do I used to hire people to do so really I didn't have a choice but to start again and do what I knew that's how I did it”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“I don't know. I cannot say bitter. That's not my nature either. I was angry. Which, you know, helped me to recreate a new brand.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“I don't know, it's kind of like how I opened the first bake shop. You just do. Know you just do because what's your choice?”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Well, yeah, I always owned the location, but unfortunately they were the tenants of the location. So I had to get them to release the lease to get them out.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Going down. And what 100% was going on there, I really don't know, you know, like some of the employees they would gather at my house. They were very supportive.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“People are still coming to work, but you know, a lot of people were not shopping there any longer. So the business was...”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yeah But the community was incredible people would call me people sent me cards of encouragement The community really rallied for me It became like a hallmark made for TV movie and I said I can spend my days in focusing on Evil of two people, or I can spend my days in focusing on all this kindness and support that I had no idea was there for me.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“I had to fight them. I had to get my business back. And I wanted to get out of the contract because they had at that point had driven my business $600,000 into debt. I realized even though I was fired and had no job, I was responsible for one-third of that debt and all the money that the company had was gone.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“You know, I would just hold my breath all the time. I think that was the only thing I could control. So I started holding my breath and I was like a dough in headlights. And, you know, there were moments that were really hard. And then there were moments that were great, you know, because I was just so grateful for waking up in a house, you know? The simple things of really going down to like the bare bones of gratitude because can always get worse. Know you try to go, you get to that place when you get down that far, you're not getting up.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, on a cycling trip, and a guy that worked down there, that moved down there to work down there that I knew, he called me and he said, Kathleen, they're planning on coming up when you're not there and taking over and getting rid of you. So I didn't go on my trip and I waited. And one day I came to work. They were there. I walked into the office and they handed me papers saying that I was fired.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“They had a fit, they were really angry and they. And I was like, well, you know, this is what I have to do. And then they're supposed to go away for the month of January.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, and I was like, what? Because I always paid my bills and they weren't paying people. And then that's when I put my foot down and I started to pay the local people with the money that I was making.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Have the recipes, but that's like anything. Nobody was trained properly. Nobody was making anything correctly. Like an apple pie, I remember finding with a whole apple inside. Then I'm supposed to be running the Southampton store and depositing the money, which I'm doing. But they were meeting payroll, but they weren't paying any local vendors, so I got frustrated, and so the money that the bake shop made, I started paying the local vendors because they were the ones that were making the money from the bake shop.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Well, first they started at the bake shop. And then they went to Virginia to put together a cookie plant production down there.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“No, I went to a lawyer and everything, and I did have a second guessing, and I just said, well, I gave my word, I can't back out now. I had no idea how horrible the deal really was.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yes. And so if he and his brother Took over running the business, and I still was part of it, but I had more time and then I was part of the profit system and then they would pay me for the business over time I was like, okay, that's okay because I don't need anymore. I don't need a lump sum of anything. I'm cool.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Well, I decided I would, if I could sell my company, that would be great, but I wasn't really fully prepared to retire. So I took on two partners. I had a bookkeeper. He didn't have any money, but he was interested in becoming a part owner of the company and paying me off along the way. But he insisted along the way that his brother also become involved, which I wasn't 100% comfortable with. I didn't really know his brother. But I don't know what happened. I just went along with it.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I, you know, I was like 40 years old and had made good money, you know, I had gotten married and divorced. I had no kids. Now I was 40. So the kid thing was over. So I was like just me. So I said, well, I want to have, you know, more of a life. I want to have less responsibility and more time.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Beyond also Manhattan and the Long Island, and then we also ship cookies to Texas. We did some cookies in California. We did like spottings all over.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yes, I bought a little tiny house in the village. I paid the mortgage off for my family's farm. Know, I started getting time off. I'd get like a day off, and then I had two days off, and then I had weekends off and could go on vacation.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“You know, it was kind of like a go to place because it was something that was part of people's weekends. I mean, I have kids that are fully grown and married now that come in and say, oh, you know, and I remember them. They were raised on my cookies. Cookies, you know, are thin and crisp and delicious, and they were different from Mrs. Fields and David's cookies, which was a nice concept, but more of a fad. You know, they were hot, served off the tray type of cookies, and I always used to think, how can they grow because you can't eat their cookies cold? They're only good warm, and now you're really stuck.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“I did I had to. I knew I had to double my business in order to pay for the mortgage. And my business plan back then was okay, I can do that. That was my plan”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“And I had to somehow find a ten, and my family didn't have any money. And then my father used to help this older woman with her chickens. She had chickens in her yard, I guess. So he helped her from time to time, and when I was looking for the ten thousand dollars, She died and she left my father ten thousand dollars. And he lent it to me.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I was outgrowing my current location. I didn't like having a landlord. And so can my mom says. Well, you know, there's a building for sale up the road. And I was like, all right. And she said, well, it doesn't hurt to call. So I met with the owner. It was $350,000 for the building, and he wanted $50,000 down payment. And he himself would hold the mortgage for $300,000 at like $9.5% interest back then. And I had $40,000 saved.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Right, but I just kept working because that's how kind of like how I was raised. You just keep going. You just keep pushing.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, yeah. It was really hard. Yeah. It was really hard. But I was always kind of like, well, just keep working harder. You know, that's how you just try to figure it out. Stay afloat.”
2019-12-16 · How I Built This with Guy Raz · Tate's Bake Shop: Kathleen King · IDENTIFIED FROM THE TRANSCRIPT