Podcast Summary
From daunting challenges to successful businesses: Persevere through challenges, build a strong company culture, and find balance for productive business travel.
Building a successful business requires tackling each challenge head-on, even when the path ahead seems daunting. This was the experience of Nancy Twine, who was inspired to create Briogio, a natural hair care line, despite having no experience in the beauty industry. Her journey was filled with obstacles, from finding a chemist who believed in her vision to having the courage to start the business after a personal tragedy. Yet, Nancy persevered, taking each challenge one at a time, and her brand is now carried by Sephora and expected to generate almost $40 million in sales this year. Another key takeaway is the importance of company culture in growing a business. As seen with HR provider Insparity, a strong company culture can help align business goals and drive success. Whether it's in the insurance industry with Amica or in the tech world, empathy and customer focus are essential to creating a human connection with your customers. And finally, for business travelers, finding a balance between work and leisure can help keep them recharged and productive. The Delta Sky Miles Platinum Business American Express Card can help make travel more rewarding, both personally and professionally.
Inspired by a resilient mother and resourceful grandmother: Growing up with a successful entrepreneurial mother and resourceful grandmother instilled a strong belief in abilities and the power of perseverance, inspiring a path of innovation and success.
Growing up with a successful entrepreneurial mother, despite facing challenges in her upbringing, instilled in the speaker a strong belief in her abilities and the power of perseverance. Her grandmother's resourcefulness and ability to create her own beauty products from limited resources further inspired her to pursue a path of innovation and success. The speaker's experiences at the University of Virginia introduced her to new challenges, but also highlighted the importance of diversity and inclusion. Overall, these influences shaped the speaker's confidence, determination, and entrepreneurial spirit.
Discovering the Value of Diverse Friendships and Pursuing Passions: The interviewee's determination to build a diverse community of friends and her adaptability in pursuing her passions, even when faced with unexpected challenges, led her to a successful career in finance.
The interviewee valued diversity in friendships and was determined to build a community of friends from various backgrounds. In her college years, she discovered her love for music and entrepreneurship but eventually chose to pursue a career in finance after realizing music wouldn't pay the bills. Her experiences at Goldman Sachs, including her internships in legal and compliance and sales and trading, ultimately led her to a full-time job on the trading floor. During the 2008 financial crisis, she recognized the importance of becoming an invaluable asset to her team to secure her job, even amidst layoffs. Throughout her journey, she remained dedicated to her passions and goals, adapting when necessary to find success.
The importance of finding happiness and pursuing passions: Working too hard can lead to being taken advantage of, but it's essential to find joy in life and make the most of every moment, inspired by unexpected tragedies and cherished relationships.
Working relentlessly to make oneself indispensable in a career can lead to being taken advantage of, but it can also be a double-edged sword. The individual in this story learned this lesson the hard way when they lost their mother suddenly, and realized the importance of finding happiness, pursuing passions, and making the most of life. The unexpected tragedy also made them reevaluate their priorities and led them to strive for excitement and fulfillment in their work. Another poignant reminder from the story is that life is fragile and unpredictable, and it's essential to cherish relationships and make the most of every moment. The individual's mother, who was retired and working on starting her own skincare business, served as an inspiration for them to follow their dreams and live a life filled with purpose.
Identifying a gap in the natural hair care market: The interviewee recognized a need for high-quality, natural hair care products and saw an opportunity to fill the gap in the market by prioritizing naturally derived ingredients and providing natural benefits for hair health.
The interviewee's personal experiences and market research led her to identify a gap in the natural hair care market and inspired her to start her own business. She recognized the potential of this niche market and saw an opportunity to offer high-quality, natural hair care products that were not widely available at the time. The lack of regulation around the term "natural" in the industry motivated her to prioritize using a high percentage of naturally derived ingredients in her products, providing both natural benefits and enhancing the hair's health. This personal journey, combined with market research, fueled her passion to create her own business and fill the gap in the natural hair care market.
From Trader to Entrepreneur: Filling a Market Need: Determination, research, and outsourcing resources led a trader to create a successful natural hair care business despite lack of knowledge or funds.
Determination and resourcefulness can lead to the creation of a successful business, even when starting from scratch. The speaker, who was a trader at Goldman Sachs, identified a void in the market for effective, natural hair care products and set out to create her own line. She researched and created a business plan, but lacked the knowledge and resources to formulate the products herself. Through networking and research, she discovered the option of outsourcing R&D and manufacturing to a contract manufacturer. Balancing her full-time job and her business, she persistently reached out to potential factories and eventually found one that could help bring her vision to life. This story highlights the importance of perseverance, research, and utilizing available resources to turn an idea into a reality.
Starting a business in a competitive industry with no chemistry background: Determination, passion, and education led a woman to create a successful shampoo line despite challenges and limited resources.
Starting a business, even in a competitive industry like beauty, is possible with determination, passion, and a willingness to learn. The speaker faced numerous challenges in creating a shampoo line without sulfates and high viscosity, but found a supportive contract manufacturer who believed in her vision. Despite having no background in chemistry, she educated herself on hair care terminology to effectively communicate with the lab chemists. With limited funding from her salary, she was cautious with expenses and sought advice from industry contacts. Initially aiming for a 15-product line, she learned that starting small with four essential products was a smarter business move. The journey was not easy, but the speaker's passion and dedication paid off, demonstrating that anyone can succeed with the right mindset and resources.
The power of perseverance and dedication in building a business: Persevering through personal hardships and long hours can lead to business success. Keeping projects secret and using technology can help.
Perseverance and dedication, even during personal hardships, can lead to the success of a business. Nancy Twine, the founder of Briogeo, worked tirelessly for a year on her hair care product line while also maintaining her job at Goldman Sachs. She kept her project a secret from her colleagues and poured her emotions into it as a form of therapy following the loss of her mother. The long hours and lack of sleep became sustainable due to her commitment to the project. This story illustrates the importance of grit and determination in building a successful business. Additionally, the use of technology, such as Atlassian's AI-powered software, can help teams accomplish what would otherwise be impossible alone.
The Importance of Persistence and a Compelling Brand Identity in Securing Funding: Securing funding for a niche business requires perseverance and a clear, compelling brand identity. Nancy Twine's experience growing her natural hair products company, Briojio, demonstrates the power of these qualities in overcoming skepticism and attracting investment.
Securing funding for a business, especially one in a niche market, can be a challenging process. Nancy Twine, the founder of Briojio, faced this reality when she started looking for investors to help grow her natural hair products company. She attended numerous pitch meetings and networking events, but often encountered skepticism and misunderstanding from potential investors who were more interested in tech startups than consumer goods. Despite these setbacks, Nancy persisted and eventually found success with the help of a consultant who suggested the name Brio Gio for her brand. This experience underscores the importance of perseverance and creativity in the face of adversity when it comes to securing funding for a business. Furthermore, Nancy's story highlights the importance of having a clear and compelling brand identity. When she attended those pitch meetings with just a piece of paper and a description of her concept, she faced skepticism and dismissal. However, when she eventually secured the name Brio Gio, which conveyed the vibrant, colorful, and natural essence of her brand, she was able to attract the attention and investment she needed to grow her business. In summary, securing funding for a business can be a difficult and frustrating process, but having a clear and compelling brand identity, and the persistence to keep trying, can make all the difference.
Persisting through adversity and building a strong network: Despite feeling overlooked and unsupported, the speaker remained determined and eventually connected with an investor. Building a strong network and seeking out mentors helped her overcome financial challenges and bring her hair care products to market.
Persistence and networking are key in entrepreneurship, especially when facing adversity. The speaker shared her experience of being the only woman and person of color in a room filled with older white men, feeling overlooked and unsupported during a pitch event. Despite giving a great presentation and receiving no interest from attendees, she remained determined and eventually connected with an investor, Phil Palmetto, who recognized her potential. This encounter led to his investment in her company, Brioshio, after she had secured her first retail commitment. The speaker also emphasized the importance of building a strong network and seeking out mentors to guide her through the challenges of bringing her hair care products to market, including the significant financial investment required to participate in a trade show. Through her resilience and determination, she was able to overcome the initial setbacks and ultimately achieve success.
Connecting with retailers at trade shows: Trade shows provide opportunities to connect with potential buyers, generate interest, and build valuable relationships, even if orders aren't placed immediately.
Participating in trade shows can be an overwhelming experience, especially for new brands. You're expected to be "on" at all times and miss out on basic needs like using the bathroom. However, these events provide opportunities to connect with potential buyers and generate interest. During a trade show, the speaker received interest from major retailers like Urban Outfitters, Nordstrom, and Sephora. While Sephora didn't place an order, the interaction led to valuable connections. The speaker also emphasized the importance of representing diversity in branding to avoid stereotypes. After the trade show, Urban Outfitters placed an order, which led to further investment in the company. Despite leaving without orders from all desired retailers, the experience was crucial for the brand's growth.
Building relationships with industry players: Persistence, determination, and relationship-building are crucial for gaining industry attention and partnerships. Use PR agencies, face-to-face meetings, and well-presented press kits to get noticed. Even if initial efforts don't lead to immediate success, stay connected and keep trying.
Securing initial investment and scaling inventory are crucial steps for a business, but getting noticed and building relationships with key industry players like retailers is equally important. The founder of Briogeo, Nancy Twine, shares her experience of using PR agencies, face-to-face meetings with editors, and a beautifully presented press kit to gain attention and coverage from major publications. However, even with this success, getting into Sephora proved to be a challenge. Twine persisted, eventually meeting with a buyer in person, and although they weren't currently focusing on hair care, they kept in touch, leading to a successful partnership later on. This story highlights the importance of determination, relationship-building, and resilience in the face of setbacks.
Staying resilient and taking calculated risks: Persistence and seizing opportunities can lead to great success. Leaving a stable job and investing in a business idea can be financially risky, but staying in touch with potential buyers and taking advantage of opportunities can lead to significant rewards.
Persistence and seizing opportunities can lead to great success. Nancy Twine, the founder of Briogeo, faced skepticism about entering the hair care category in prestige beauty due to its lack of excitement and boom status. However, she stayed in touch with a buyer at Sephora who expressed interest in expanding their hair care offerings. When the opportunity arose, Nancy left her full-time job at Goldman Sachs to focus on Briogeo, despite the financial risk. She used her remaining cash to fund a sampling program with Ipsy, which resulted in significant sales conversions at Sephora. Ultimately, Sephora decided to carry Briogeo in their stores, and Nancy's gamble paid off. This story illustrates the importance of staying resilient and taking calculated risks to achieve your goals.
Perseverance and transparency fueled Briogeo's success: Despite initial challenges, Briogeo's founder Nancy Twine's determination and commitment to safe ingredients led to the brand's growth and success, even during the 2020 crisis
Perseverance and transparency were key factors in the success of Briogeo founder Nancy Twine. Despite initial challenges in securing funding and ensuring product shelf stability, Twine's determination and commitment to using safe synthetic ingredients led to the brand's growth. With the support of early investors like Phil and later private equity firms, Briogeo became a hit at Sephora and saw significant revenue growth, even during the 2020 crisis. However, the social justice movements and racial injustice demonstrations took a toll on Twine, who expressed her emotional exhaustion in a social media post. Despite the challenges, Briogeo's success story is a testament to the power of staying true to one's vision and values.
Navigating Success and Social Unrest: Believe in yourself, have a seat at the decision-making table, and balance time and energy for maximum impact.
Success, especially for underrepresented individuals, can come with great challenges and expectations. Nancy Twine, the founder and CEO of Briojio, shared her experiences of navigating the aftermath of George Floyd's death and the subsequent social unrest, while also dealing with the demands of her growing business. She emphasized the importance of having a seat at the table in decision-making processes, but also the need to balance time and energy to be most impactful. Nancy attributed her success not only to hard work and skills but also to her belief in herself. She expressed that her late mother, who instilled confidence and resilience in her, would be proud of her achievements and continue to guide her spiritually. Despite the challenges, Nancy remains grateful for the opportunity to inspire future generations. Her brother, who once doubted her abilities, now works for her, highlighting the journey's unexpected twists and turns.
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