The Stack World reposted this
Do I build my company ethically or go for the highest profit model? 🤔 A perennial question in business. As London hit 0 degrees, I joined the warm The Stack World community this morning at 180 Studios to hear Sharmadean Reid MBE interview Sarah Brown, organic skincare pioneer and founder and CEO of Pai Skincare. The title was: 'How to Build a Sustainable Multi-Million Revenue Beauty Business' But there is a tension between the words ‘sustainable’ and ‘multi-million revenue’. 😅 A key decision founders must ask themselves is: Do I build my company ethically or go for the highest profit model? Sarah’s answer: —> “We had to be uncompromising on quality.” Outsourcing our manufacturing would not have made us the brand we are today. This costs us a lot more and the pressure to cut those costs are high but it makes us who we are. —> “Get your customers to care and they will advocate for you.” Starting a brand is expensive and it’s hard to get out there - you have to drive advocacy and that starts with customers who love your products. —> “Talk to customers as much as you can.” And when you do this, be in the the right mindset and make all the time count. New product idea, new marketing ideas can all be triggered by conversations with customers. —> “What you lack in scaling quickly, you gain in leaning.” Sustainable brands are not a quick way to scale but you will learn so much in the process. Ultimately Sarah said the goal for any mission-driven founder is to “believe there is no conflict - that you can be successful and stick to your principles.” Sarah and Pai Skincare is great testament to growth while staying true to your values. Thank you for the insights. 🙏