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1️⃣ One Sentence Summary
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"From Motorcycles to Beauty Industry: I was approached by Paris Hilton to develop a skincare line for her. As most celebrities know, influencers with large follower bases were getting into pre pandemic. So I sat with my lab and my chemist and we developed five or six SKUs for a line for Paris."
"Ethics in Business: If you want to be an ethical business, you have to say, okay, so we've done our homework on the ingredients that we're going to compile these formulations with, where they can be sold, considerations on shelf life. Then you can take that extra step and say, okay, now, of the fillers and ingredients we're using, is it vegan? Is it cruelty free? Are these ingredients that are on a watch list that consumers have put together, or non governmental groups? So are they clean ingredients and things like this?"
"Global Marketing Strategies: But when it really comes down to it, it's kind of like you just have to be careful with what you use and how you market it."
"Business Collaboration Advice: It's just from my experience with my past businesses, get it done in the beginning, just do it."
"Patent Infringements on Ingredients: Yeah, that's direct patent infringement. I don't know if there's still patent on that, but you have to go somewhere to get those ingredients compounded for you. That group or that place you went would most likely get that from an ingredient supplier that is buying from the patent owner or the trademark or the patent holder rather."
"Brand Development Strategy: You have to decide your brand position in the market. Are you the cost leader? Are you prestige? You want consistency. It has to look like a legitimate product."
"Challenges of New Product Development: And then you have to develop the secondary packaging. Is it even going to have secondary packaging? Is it going to go in a box? Right? And then it's really working to understand your scale as you're working through something like a new product, whether it's a skincare product or a motorcycle part, how do you build initial inventory and what's it look like as you start to grow scale? Where are the milestones where you say, okay, instead of putting in 5000 piece orders, now that our next order is going to be 30,000 pieces or 50,000 pieces."
"Challenges in Startup Manufacturing: 'As a startup brand, you want the deal, you want the order, but you kind of walk this fine line of, I don't want to turn them off so that they don't work with us, but what am I willing is this going to be straight marketing? Are we going to make almost no money just to get product in the hands of consumers, or are we going to run this like we're making 50,000 unit orders every month?'"
"Equity vs Royalty: 'I think, like in any business, the most important thing is to work all that stuff out ahead of time. There's countless amazing examples of people that get together with their great ideas, and then an entity blows up, and then they have to circle back because they're at each other's throat trying to figure out why they didn't structure it right.'"
"Pandemic Impact on Business Ventures: We were heavily invested in Korea, and that was one of the first moments for us, was in February or March when they shut down. Okay, now we've got a problem because we're very heavily invested in a launch we were working on."
🔑 7 Key Themes
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Interview Breakdown
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📚 Timestamped overview
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❇️ Key topics and bullets
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✏️ Custom Newsletter
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🐦 Business Lesson Tweet Thread
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🎆 Social Carousel: Do's/Don'ts
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One Off Tweets
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