Jodie Fox was always meant to be a lawyer but the universe had other plans. A chance conversation on a Gold Coast beach led to her abandoning her career to start Shoes of Prey with cofounders Michael Fox and Mike Knapp.

Jodie was the face of the business. The brand’s rapid rise to success saw it gain fame as a startup darling, and cemented Jodie’s status as one of Australia’s leading entrepreneurs. Then after almost a decade of riding a wave of success, the brand went pear-shaped and Jodie was faced with the heartbreaking decision of closing the doors on a business she has described as “her baby”.

In this episode of First Act, Jodie takes a look back at her entrepreneurial journey, explains why she left a career in law and marketing behind to go into business for herself, dives into the genesis of Shoes of Prey, explores the startup’s rise and demise and shares the many learnings she’s had along the way. It’s a raw and emotional story and Jodie never holds back on the details – no matter how painful.

Key topics

Career path before Shoes of Prey

• Experience in law and advertising
• Transition from law to advertising

Formation of Shoes of Prey

• Inspiration and conceptualisation at the beach
• Initial challenges and early success
• Break-even in the first year and raising the first round of funding

Challenges of scaling Shoes of Prey

• Supply chain issues and factory challenges
• The role of venture capital and investor relationships
• Raising US$ 27 million in funding and responsibilities associated with it

Advice on raising capital

• Pitching to venture capitalists
• Different paths for raising funds
• Considerations for venture capital suitability

Personal dynamics in business

• Working with ex-husband Michael
• Navigating divorce and its impact on the business
• Maintaining a professional relationship post-divorce

The collapse of Shoes of Prey

• Final moments and decisions leading to the shutdown
• Communication with the team and emotional impact
• Detailed recount of the closure process in China

Post-Shoes of Prey identity and recovery

• Handling the loss of identity and purpose
• Coping mechanisms and activities during grief

Mental Health and entrepreneurship

Importance of discussing mental health issues
Learning from failures and building support networks

Writing “Reboot”

• Cathartic process of writing
• Desired impact on readers

Vulnerability in entrepreneurship

• Advocating for openness about failures and challenges
• The impact of hustle culture