Greatest Hits #2 - How to Build a $100 Million Deodorant Business Starting With Only $1,000

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 10 May 2021

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shaan (@ShaanVP) talks to entrepreneur Moiz Ali (@moizali) on today's episode. 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! --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * 12:40 - How Moiz got his first product made and first few sales * 21:00 - The highs and lows of entrepreneurship * 27:40 - How to iterate quickly with a physical product * 32:55 - Shaan rapid fires questions at Moiz to understand his mindset and business at the time * 46:33 - How Moiz sold Native * 58:30 - Moiz talks about his doubters and how it fueled him

Transcript

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0:00.0	Alright, what's happening? This is another edition of my first million greatest hits where we look back at some of the past episodes and
0:08.5	Do some callouts of my favorite parts and explain to you why they're interesting and well
0:13.2	You'll you'll understand in a second, but this episode Sean actually said it's his favorite episode of all time
0:19.9	Last week we just did one with Suley Ali so Suley Ali if you go through your Spotify or iTunes feed
0:26.0	You'll see the Suley Ali one he started and sold this company for $100 million and it was really great awesome guy
0:31.9	I love him. I know him. I think it's great
0:34.0	But this episode is actually with his brother his younger brother probably three years younger and he sold his company for $100 million
0:40.3	Except this company
0:41.9	Sorry, Suley is more impressive and it's more impressive because he sold it for $100 million with zero money rate
0:49.3	So he
0:50.5	Well, they actually ended up they raised like $400,000 like weeks or months or something like that before they sold
0:56.7	But basically he started the company when he was in his early 30s for like a thousand dollars and in only two and a half years
1:05.0	He's scaled to a 30 million dollar run rate and then he sold the company for a hundred million dollars in cash to
1:10.7	Procter and Gamble and he did that all in two and a half years and I was actually with him
1:15.4	So boys and I we actually shared an office when we when he started the company. It was like a really small
1:22.2	Space called founders dojo and if you look up like Sam par founders dojo
1:26.6	You'll see an article in a video. I made on that spot
1:29.4	But it was basically like eight of us working out of a small office and boys
1:34.0	Was tinkering at first. He was like maybe I'll sell mattresses. Maybe I'll sell I forget all what he wanted to sell and somehow
1:39.7	He came across you know, maybe deodor would be cool
1:42.2	And so we started this company called native deodorant and he didn't know really much about anything in the podcast
1:48.8	He goes I don't know anything about deodorant and all the critics were like why are you launching this you nothing about deodorant
	...

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