You look in the mirror… and see a $1B gremlin

This is going to be a mega email because I have a lot to share with you today. It wouldn’t make sense to break it up. If you're short on time, I recommend reading it in parts, because what’s inside could genuinely shift how you think, lead, and make decisions.

Let's start...

Since the firestorm that devastated parts of Los Angeles, including my own neighborhood, I’ve been living out of a suitcase. For now, I’m traveling through Europe and the Asia-Pacific region, continuing to work, think, and reflect from the road.

Here’s a photo of me at the Hong Kong airport, and another of the night sky on the way to my hotel. My home won’t be safe to return to until at least December or January. But something else happened at the time of the fire. It had nothing to do with the house. Something that broke my heart, broke my soul, when I thought I had been through so much in my life that my heart, my soul could no longer be broken.

What followed was the dark night of the soul. And I am sure you have seen it from the podcast episodes recorded during those periods. But I still showed up for our clients and members. And I think we did exceptional work during that period.

And eventually, I was able to find enough strength to move forward. And I learned a lot from those dark weeks and months. If you’re going through your own dark night of the soul, I hope these photos remind you that it will pass. I can again smile, and my heart is in one piece, even though the cracks will never go away. You’re not alone, and you’re stronger than you think.

But what I want to talk to you about today… is a doll.

Not just any doll.

A troll-looking, up-to-2-foot-tall character named Labubu, that helped elevate a fast-growing Chinese collectibles brand into a $44 billion giant.

So, how did this happen?

And what can we learn from it?

Pop Mart, the company behind Labubu, started as a small designer shop in Beijing in 2010. They sold "blind boxes," you don’t know which collectible you’ll get until you open it. It grew. By 2019, they had 300 stores and 2,000 vending machines.

Then, in 2023, everything changed.

Rihanna was spotted with a pink Labubu keychain on her Louis Vuitton bag as she was stepping into an airport terminal.

At the same time, in Thailand, these dolls started being seen as spiritual guardians.

A member of K-pop phenomenon Blackpink, Lisa, discovered them while visiting a friend in Thailand. Her friend wanted to go buy one of those dolls. At first, Lisa wasn't interested in getting one. But when her friend was told that Labubu could not be purchased, she decided she wanted one. And started collecting them to cope with the stress of being a K-pop star, and then posted about it.

That single Instagram story was the spark that lit the fire.

Since then, Labubu has been clipped to the bags of Kim Kardashian, David Beckham, and countless others. Some editions now sell for over $100,000. The dolls generated $700 million last year alone, nearly half of Pop Mart’s revenue.

And the stock is up 7x. In one year.

But before we go deeper, I want to pause and acknowledge something important.

Labubu wasn’t created by Pop Mart’s marketing team or some global toy conglomerate.

It came from the heart of one person.

A young Chinese artist named Kasing Lung began sketching a world of strange, expressive creatures that didn’t fit the mold. They weren’t traditionally cute. They had sharp teeth. Blank stares. Strange outfits. They were what some people call “ugly-cute.” Kind of like me during the day of the mega LA fire and the weeks and months after.

They were also deeply expressive.

They made you feel something. Even if you weren’t sure what.

Back in 2015, long before the hype, Kasing Lung created an entire world, a trilogy of picture books inspired by Nordic mythology. He filled them with magical characters, both good and evil, and called the collection The Monsters.

Among them was a small creature with high, pointed ears and serrated teeth.

His name was Labubu.

Despite the mischievous grin, Labubu was kind-hearted. He always meant to help, but often accidentally made things worse.

The kind of character you root for.

Because many of us have been there.

For years, nothing happened. Just a small community that loved his art. His style (emotive, melancholic, "ugly-cute") was well-regarded in the underground art toy world. But then, in 2019, he partnered with Pop Mart.

The machine met the soul.

And the world eventually caught on.

That’s the part we often forget when we talk about viral trends and billion-dollar outcomes.

It didn’t start with funding or strategy decks or influencer campaigns.

It started with someone following a spark in their heart and putting love into creating something based on it, long before anyone was watching.

If you pause and look deeper, this strange, viral, “ugly-cute” doll for adults offers an important lesson about success and about what matters in the work we choose to do.

Let’s take a closer look, because what made this doll succeed has everything to do with how meaningful work connects with people.

Why did Labubu become a phenomenon?

It wasn’t just luck. Or branding. Or even celebrity influence.

It was psychology:

Here are just some of the things that are going on here:

1) The status anchor: Clipped onto a $5,000 bag, even a $25 doll becomes aspirational.

2) The mimetic desire: A term popularized by philosopher René Girard. It means we imitate the desires of others, especially those we admire or see as high-status.

3) The lipstick effect: In recessions or hard times, consumers buy smaller luxury goods (like lipstick or small collectibles) as affordable indulgences.

4) The nostalgia factor: Adults seeking comfort in childlike things during uncertain times.

5) The portability factor: It wasn’t a toy you left at home. It was a keychain. You carried it with you. That made it more likely to appear in street photos, on luxury bags, in airport terminals, and across social media. And because it traveled with you, it became part of your look: an accessory that signaled taste, individuality, and status. That portability turned it from a collectible into a personal brand statement, and that helped fuel the phenomenon.

6) The “ugly-cute” effect: Imperfect but makes you feel something, even if you are not sure what. It becomes lovable. We can relate to this character. There were days in our lives when we looked a little bit like this.

And some days, we relate to Labubu more than we’d like to admit.

This is me. Cozy coat, slightly wide-eyed, trying to hold it all together (and this photo was from before the fire, so imagine what I looked like after).

There’s something about Labubu’s look, especially the eyes, that just says:

"I’ve seen things. I’ve survived."

That’s probably why we connect to these little creatures.

Not because they’re perfect… but because we see ourselves in them.

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And Pop Mart? They executed with excellence. They combined artistry, scarcity, a strong IP model, physical retail + vending, and a gacha (surprise box) mechanic that hooks the collector instinct.

But here’s the catch.

The founders and analysts know it won’t last. Like Beanie Babies, Pokémon, Cabbage Patch Kids, this will peak and crash.

And yet it was and still is a wild success.

So, what does this mean for you?

You’re probably not trying to create the next Labubu.

But you are trying to build something you can be proud of. Something meaningful. Work that sustains your family, challenges you to grow, and contributes real value to the world.

- Maybe you're climbing the ranks at Amazon, Microsoft, or Google.

- Maybe you're rising through McKinsey, Deloitte, PwC, or KPMG.

- Maybe you're leading global teams at a major bank, or working on life-saving breakthroughs at a pharmaceutical company.

- Maybe you're building a business, leading a team, or writing a book.

Whatever path you’re on, if you’ve ever wondered whether your work can break through the noise, this story should encourage you.

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Want to become a published author with a smaller chapter in a book with a lot more co-authors with our very affordable other co-authored project (The Published Author Program, Lite) instead?  Here’s what one of our long-term clients shared with me today after gifting the book to his family (he sent me the photo above and was happy for me to share it with you). His message made my day: "Hi Kris, Hope you are doing well! Just want to share with you a picture of our wonderful book! I offered one to each of my parents and brothers, and they were very happy :) We have celebrated that at the xxx in xxx this morning! Thank you for that great opportunity and privilege you offer to our family, Kris." Secure your spot in our next Lite co-authored book for an affordable $997 or 4 payments of $275. For both co-authored projects, all you need to do is write your chapter and we’ll handle the rest. We’ll produce a beautifully designed book you can be proud of. All our books went to become bestsellers in multiple categories. The latest, Win When It's Hard, became a bestseller in multiple categories at the end of last month. You’ll also receive a professionally designed PDF of your chapter to share, plus bonus training on how to leverage the book to build your brand. And if you need help packaging your ideas and thoughts into a chapter, we have an optional ghostwriting add-on. Learn more and secure your chapter spot here.

Labubu didn’t succeed by being logical, perfect, or designed for the masses.

It broke through because it was honest, emotional, and real.

It succeeded because it was created from the heart, from the soul.

Unapologetically odd.

Full of emotion.

Backed by an artist who was ok with being judged.

Imagine a conversation during a family dinner. The kind where expectations are served alongside the rice, back when those dolls were just drawings.

– What are you working on?

– I’m creating a series of illustrated books.

– For children?

– Not exactly. It’s based on Nordic myths.

– And it pays?

– Not really. Not yet.

– [A long pause.]

– You know your cousin just finished med school.

– I know.

– And your brother just got promoted at the bank.

– I know.

[He hesitates, then turns his phone toward her, showing a sketch.]

- What’s that?

– One of my characters. Labubu. He looks mischievous, but he’s kind. Always tries to help. Usually messes it up.

– And who’s that for?

– People who’ve felt out of place.

– Hm. This is not good. Don't you realize, talent is fine, but life isn’t a fairytale.

– No. But stories can still matter.

The key to the success of these dolls was the love he put into his work.

And that is what cuts through.

In fact, I believe success is always the product of this simple formula:

(Knowledge/Skills + Effort + Execution + Time) x Love

(Knowledge/Skills = Subject-Matter Expertise + Business Judgement + Ability to Speak + Write + Think + Lead)

- Without knowledge/skills you just don't have a long enough life to figure out everything on your own.

- Without effort (consistent, focused hard work), talent remains unused.

- Without execution, nothing gets done.

- Without time, nothing compounds.

- Without love, the work doesn’t resonate. Love gives your work soul.

We teach each component of this formula within our memberships on StrategyTraining.com and in our coaching programs.

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If you're a leader looking to build your own consulting firm, grow a practice within an established firm, or take on larger, more complex projects, or get promoted within your current organization, within or outside of consulting, we may be able to support you. To explore if there's a fit, please email your resume (in any format it is currently in) to team@firmsconsulting.com.

That’s why when we created the Win When It’s Hard book, our latest bestselling book co-authored by members of our own community, the reviews praised the raw honesty people brought to their chapters. You can feel how much heart was in it.

The chapters were meaningful. Thank you for your very kind words in reviews, by the way. It means a lot.

My life has been turned upside down by the fire this year. Not because I was afraid to die. Not because I was afraid to lose all my things or my house. There are some other things that happened surrounding the fire events that knocked me to my knees. And it took tremendous effort to keep holding it all together for everyone, completing my obligations to our community, our team, to myself, while getting myself out of that hole.

But, I see more clearly than ever now and am able to help clients even in more difficult circumstances than before.

I can leverage those dark nights of the soul, those weeks and months, to create even more value for people in our community.

You must create the thing that only you can create.

When you follow your heart, money tends to follow you, not the other way around.

What moves people is not perfection. It’s work done from your heart and soul that leverages all your experiences and knowledge. It’s care. It’s something real.

Something that only you could create.

So I want to leave you with this:

In a world chasing quick hacks, choose to build a body of work that only you can create. Whether it’s a book, a course, or a business, when it’s created with love, it can be life-changing for someone.

And doing work with love takes time and effort. For example, I started writing this email at 10:30 a.m. yesterday and finished only around 5:50 p.m (yesterday). I then spent another hour working on it today. It took me over 8 hours to write this one email that you are reading right now. How many people would bother to spend 8 hours writing a free newsletter to their community?

And this is what makes someone's work stand out.

When they put in their heart, their soul, and the required effort to create something that can be genuinely helpful to their customers, clients, and community.

When we were launching Win When It's Hard, our latest co-authored book, Amazon changed its algorithm just before launch and made it much harder to hit the bestseller list. But that book was created with love, and launched with love, and even though it took some sleepless nights for me to navigate the new Amazon rules, the book still hit bestseller in multiple categories. And all co-authors became bestselling authors.

Maybe I could have hit the lists without putting in my heart and soul into the launch. But I don’t think we would have created the kind of book we did without me putting my heart and soul into working with each author and into all the details surrounding the production of that book. And without our team putting their heart and soul into working on various steps of the production process.

The reviews reflect it.

There are many co-authored projects out there, but not all of them have someone behind the scenes who puts their heart and soul into the work. And that shows in the final result.

(By the way, we are enrolling a new cohort of co-authors for the next co-authored book we are putting together. You can enroll here.)

When people look at me and think I’m lucky, they don’t realize what they could have accomplished in their own life if they put in as much effort, time, love, and care into their work.

We all have an opportunity to contribute value.

Even if life has beaten you down… even if you’ve forgotten how to feel… when it comes to your life’s work, you must go within. Find what you truly care about. Then pour your knowledge, experience, and heart into it.

And do it with the best intentions for the world.

That’s how you create something that will deliver outsized value to people.

That’s how careers turn into legacies.

That is all for today. Hope you have an amazing week ahead, and please don’t hesitate to reach out. The entire FC team, including Michael and me, cares deeply about your success and happiness. You can see it in everything we do, even during the hardest times.

There’s a Japanese proverb I love: “Adversity reveals one’s true nature.” And this year, both as a company and personally, we were tested.

We didn’t slow down. We didn't deprioritize our commitments to clients and members.

We pressed harder on the gas pedal because our mission means, you mean, that much to us.

Take care,

Kris Safarova

StrategyTraining.com & FIRMSconsulting.com

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P.S.S. The best leaders aren’t the loudest. They’re the ones quietly sharpening their thinking, refining their judgment, and getting into position long before others even know the opportunity exists. That’s who we train at StrategyTraining.com. Within our video/audio membership I recommend Insider or, for more senior members, Legacy. Insiders can upgrade to Legacy and go back to Insider at any time without losing Insider status, provided they maintain continuous membership. Please ensure you email team@firmsconsulting.com when you return to Insider so the team can manually re-grant your Insider status. And, as an add-on, you can also enroll for our mega reading library with full studies, million-dollar proposals, centers of excellence, strategy manuals, and much more. A treasure trove for someone intelligent and committed to learning, applying (hands-on and quickly), connecting with like-minded, driven people, and monetizing what they learn to build a meaningful career/business.