https://padlet.com/peytonp066/33pebuo30lukpocz en-us 2022-02-23 15:47:04 UTC 2022-02-28 14:46:32 UTC hello@padlet.com peytonp066 https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065205713 Entrepreneurship: Nancy Twine grew up with small entrepreneurs all around her. Her mom had her own physician's practice and her grandmother would always make homemade skin and hair products. Nancy was also very entrepreneurial as a child as she would make small crafty things and sell them at school. The idea for her own business really hit after her mom's death. Nancy had to go through her mom's things and while doing this she found her mom's skincare line she was developing. Finding these products made Nancy remember all the struggles she had to find products that fit her hair. The idea for natural made haircare business sparked and she jumped in. ]]> 2022-02-24 19:28:30 UTC https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065205713 peytonp066 https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065207368 Land: After realizing there was a void for effective natural hair products, Nancy started researching and trying to find out to make hair products without all the silicon and parabens normal hair products have. She wanted natural oils, fruits, and other naturally derived products. Some of the natural resources she now uses in her products are things like water, apple, avocado, coconut, ginger, kale, and other natural ingredients. ]]> 2022-02-24 19:29:30 UTC https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065207368 peytonp066 https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065208680 Labor and Capital: Nancy quickly realized that she couldn't make these natural products in her own home, so she sought to find an outsourcing producer.  She talked to a lot of hair product manufacturers who told her it wasn't possible to make natural hair products. They said it wasn't possible to develop products without the silicon because that's what held the product together and made hair look shiny. She didn't want to give up the natural asspect of her passion so she kept looking for producers. Nancy later found a small manufacturer in the midwest that said if she dedicated the time to work with their chemists that they would try to help her develop her products. Nancy agreed to work with them which was her first decision to invest in capital and labor. ]]> 2022-02-24 19:30:23 UTC https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065208680 peytonp066 https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065209824 Up to this point Nancy was funding this entire journey with her salary from Goldman Sachs and her savings and savings. She had spent about 25K at this point. Once she founf her outsourcing producer she knew she needed to find some finiancle help from an investor. Nancy decided to start pitching her ideas at pitching meetings. Her first one failed as no one was interested in investing but she decided to try again. Nancy went to a pitch meeting where she was compeating with four other tech guys. Despite feeling let down from the competion she gave a passionate and amazing presentation. After presenting Nancy was approched by a man with no hair named Phil Palmento. He gave her her card and said "I know I don't have any hair but I don't invest in the business I invest in the person, and you gave the best presentation. I could see your passion!". The next day he called Nancy and told her he would invest once she had her first retail comitment.]]> 2022-02-24 19:31:11 UTC https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065209824 peytonp066 https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065210348 Entrepreneurship: Nancy knew that in order to get Phil's investment she needed a retail commitment so she decided to go to a trade show. She spent about 15K for a booth for 3 days at the show. She gave out samples as well as talked to any businesses interested. Her goal as it had been from the beginning was to get the attention of Sephora. To Nancy's luck, Sephora did come by her booth and they had a good conversation, but the interesting thing was that Nancy didn't know it was Sephora she was talking to until another booth told her. But Nancy didn't get any order from them nor a form of contact. At the same show, Urban Outfitters took an interest in Briogeo and placed an order for her whole stock. After this Phil made his first investment of $100,000.]]> 2022-02-24 19:31:35 UTC https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065210348 peytonp066 https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065211415 Although Nancy got her first retail purchase and Phil's investment she was still determined to get her product in Sephora. She remembered one of the Sephora investors' names from the trade show and did some research. She found the contact information for the investor and basically gave her a pitch over email. After a week or so of no reply, Nancy decided to put all of her press she had gotten into an email and said she would be in San Fransico and wanted to meet. This got her a reply. She was put in touch with a junior investor and they met over coffee in San Fransico. The investor said that Sephora wasn't looking to scale their hair care but that they loved her brand and would keep her in mind. This devastated Nancy because she was 4 years into the business at this point, but she understood.]]> 2022-02-24 19:32:12 UTC https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065211415 peytonp066 https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065213415 After she failed to get into Sephora, Nancy got some good news in February of 2014. Sephora was ready to try Briogeo. This is when Nancy threw herself into marketing. She partnered with Ipsy, a makeup subscription box, in order to get her product to more people before hitting Sephora. Briogeo hit Sephora.com in august of 2014 and then in March of 2015, she hit shelves. Her business is now estimated to make 40 million in gross sales. ]]> 2022-02-24 19:33:26 UTC https://padlet.com/peytonp066/33pebuo30lukpocz/wish/2065213415