Episode
#10 - Using $1k to Build $100M Deodorant Business
1:10:36
Published: Wed Aug 28 2019
Description
Season 2 of The Hustle's podcast is here - and we're talking to Moiz Ali (@moizali). Have you ever looked at the back of your deodorant stick and read the ingredients? Aluminum zirconium trichlorohydrex? PPG-14 Butyl Ether? Well, Moiz saw that and created Native, a natural deodorant without all the chemical junk. He built the company from his brother's dining table - doing sales, marketing, operations & customer service as a one-man-show. His hard work paid off, as he sold the company for $100M to Proctor & Gamble just 2.5 years after it launched. Listen in to hear the backstory of how he started using just $1k, how the company almost died (twice), and how he negotiated a $100M sale of the business! See acast.com/privacy for privacy and opt-out information.
Chapters
Learn from the founder of Native Deodorant, a natural deodorant brand that has seen great success despite the industry's small size, about building a business that prioritizes health and safety.
00:00 - 02:29 (02:29)
Summary
Learn from the founder of Native Deodorant, a natural deodorant brand that has seen great success despite the industry's small size, about building a business that prioritizes health and safety.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
Two friends discuss their heightened awareness of the products they use after experiencing pregnancy and having a baby, particularly concerning antiperspirants and their ingredients.
02:29 - 05:38 (03:08)
Summary
Two friends discuss their heightened awareness of the products they use after experiencing pregnancy and having a baby, particularly concerning antiperspirants and their ingredients.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The founders of Native Deodorant wanted to create a deodorant that used natural ingredients, and looked for inspiration from the Earth itself.
05:38 - 11:09 (05:31)
Summary
The founders of Native Deodorant wanted to create a deodorant that used natural ingredients, and looked for inspiration from the Earth itself. They used this philosophy to create a product that did the job of an anti-perspirant without the use of aluminum, and their business soon took off.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The speaker shares his experience with the challenges of selling a new product and the importance of media coverage to drive sales.
11:09 - 15:53 (04:43)
Summary
The speaker shares his experience with the challenges of selling a new product and the importance of media coverage to drive sales.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The speaker shares their experience of facing challenges while growing their company, how they initially felt like giving up, and how they persevered through it.
15:53 - 21:04 (05:11)
Summary
The speaker shares their experience of facing challenges while growing their company, how they initially felt like giving up, and how they persevered through it.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The speaker discusses the difficulties of customer feedback and formula creation when running a deodorant business, including challenges with preventing flakiness in the product.
21:04 - 25:24 (04:19)
Summary
The speaker discusses the difficulties of customer feedback and formula creation when running a deodorant business, including challenges with preventing flakiness in the product.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The founder of a deodorant company explains how customer feedback has led to improved product formulas.
25:24 - 30:13 (04:48)
Summary
The founder of a deodorant company explains how customer feedback has led to improved product formulas. They send emails to customers after 20 days to gather feedback, something that's unlikely to happen with a purchase at a retail store.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The founder of a company talks about the early days of his business, where he was the only employee without a salary, and despite making around $100,000 in business, the company only netted around $8,000 in profit from selling deodorant.
30:13 - 33:27 (03:14)
Summary
The founder of a company talks about the early days of his business, where he was the only employee without a salary, and despite making around $100,000 in business, the company only netted around $8,000 in profit from selling deodorant.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The speaker talks about the challenges of scaling customer service and the importance of hiring for repeat purchase rate and better reviews.
33:27 - 37:35 (04:08)
Summary
The speaker talks about the challenges of scaling customer service and the importance of hiring for repeat purchase rate and better reviews. They also mention implementing "power hours" for customer service training.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The speaker discusses their strategy for calculating expenses for their natural deodorant startup, considering the cost of production, shipping, and other expenses.
37:35 - 43:30 (05:54)
Summary
The speaker discusses their strategy for calculating expenses for their natural deodorant startup, considering the cost of production, shipping, and other expenses. They also mention the size of the entire natural deodorant industry to put their business's success in perspective.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The process of selling a business is full of different emotions, from interest to disinterest, and potential buyers can come and go unexpectedly.
43:30 - 47:41 (04:10)
Summary
The process of selling a business is full of different emotions, from interest to disinterest, and potential buyers can come and go unexpectedly. It's important to be prepared for the ups and downs.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The speaker shares insights from operating his own business, including moments of success and challenges with operations and revenue generation.
47:41 - 51:00 (03:19)
Summary
The speaker shares insights from operating his own business, including moments of success and challenges with operations and revenue generation.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The speaker reflects on the constant ups and downs of running a business, revealing that certain moments call for making tough decisions on the spot.
51:00 - 53:49 (02:49)
Summary
The speaker reflects on the constant ups and downs of running a business, revealing that certain moments call for making tough decisions on the spot.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The speaker feels very emotional and betrayed when investors disagree with them and could not handle feeling opposed.
53:49 - 57:57 (04:08)
Summary
The speaker feels very emotional and betrayed when investors disagree with them and could not handle feeling opposed. The speaker felt like they were being stabbed in the back, but also acknowledged that taking a step back is important when dealing with those situations.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
In this podcast snippet, the speaker talks about the genuine nature of Midwestern people and compares throwing out a half-used deodorant to not having to finish a can of soda.
57:58 - 1:02:05 (04:07)
Summary
In this podcast snippet, the speaker talks about the genuine nature of Midwestern people and compares throwing out a half-used deodorant to not having to finish a can of soda. They also discuss the difficulty of accepting advice from others in the business world.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The speaker talks about the importance of independence and willingness to take risks in building a successful company, as well as the importance of building strong relationships with employees who share the same values and goals.
1:02:05 - 1:06:06 (04:00)
Summary
The speaker talks about the importance of independence and willingness to take risks in building a successful company, as well as the importance of building strong relationships with employees who share the same values and goals.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
The speaker reflects on the advantages of not selling consumer packaged goods, such as having the freedom to order whatever they want at restaurants.
1:06:06 - 1:09:44 (03:38)
Summary
The speaker reflects on the advantages of not selling consumer packaged goods, such as having the freedom to order whatever they want at restaurants. In contrast, CPG giants do not have a direct line of communication with their customers.
Episode#10 - Using $1k to Build $100M Deodorant Business
PodcastMy First Million
In this transcript, the speaker shares tips on how to scale a business from 100K to a million dollars, and emphasizes the importance of making your own decisions about pursuing entrepreneurship.
1:09:44 - 1:10:24 (00:40)
Summary
In this transcript, the speaker shares tips on how to scale a business from 100K to a million dollars, and emphasizes the importance of making your own decisions about pursuing entrepreneurship.