How We Built, Scaled, and Sold Our Multi-Million Dollar Luxy Hair Business
The Ikonns
Alex & Mimi Ikonn
4.8 • 2.2K Ratings
🗓️ 7 February 2019
⏱️ 127 minutes
🧾️ Download transcript
Summary
It’s easy to paint a picture of someone living their dream life and imagine it must have come easy, on a plate.
In this GIANT MUST LISTEN episode we find out the TRUE JOURNEY of what it takes to build a multi-million dollar business and then hand it over to someone else.
Alex and Mimi takes us behind the scenes and share their humble beginnings, ups, downs and everything in between. This is the journey you’re going to hear;
- Meeting each other while working in a bank in Toronto, Canada.
- Living together at Alex’s mom’s house.
- Alex studying Business school at nights while working full-time at the bank
- Mimi working many jobs and helping her family.
- Mimi dropping out of College.
- Alex getting fired and Mimi quitting the bank.
- Building a credit score, using debt as an advantage.
- How a near wedding disaster brought them a market opportunity.
- Soaking up knowledge from working in other businesses.
- Hiring the right employees and management that make business easier.
- Living in other countries and becoming location independent.
- Making money in your sleep.
- How the 4 hour work week made sense... and when it didn’t.
- Passion, growth and a founding members departure.
- Depression, happiness and when realities start hitting.
- Moving to London and operating a company from across the ocean.
- Finally Living their dream life after persistence.
- Building your company into an asset.
- The decision to sell Luxy Hair.
All this and so much more.
Hope you enjoyed this week’s episode, you can find out more about Alex and Mimi here:
Produced by Jason Sanderson - Podcast Tech
Show notes @ https://www.ikonns.com/podcast/episode3
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hello, my beautiful friends. It is Mimi here today and today I'm here with Alex. |
| 0:08.1 | Hello, hello. Hi Alex. Today's a very special episode because today we're going to be talking |
| 0:14.0 | about the journey of our first business. We've had the pleasure of trying or creating several |
| 0:21.7 | businesses now. But the first one was created, I would say eight and a half years ago, it's |
| 0:26.7 | Laxie here, those of you who have followed our journey for many years know a lot about this |
| 0:31.7 | journey. But today's episode is going to cover everything. The creation of Laxie here, how it came |
| 0:38.0 | to be, how we built it from nothing, from zero, really just us, and then how it became a multi-million |
| 0:46.0 | dollar business, and then recently how we sold it. So it's pretty special for those of you who are |
| 0:52.6 | inclined to either be entrepreneurial or want to create your own business or who is already |
| 0:57.7 | runs some businesses. I think you would find it very interesting. I'm so excited. This is |
| 1:02.6 | kind of like our own version of how I built this. One of our favorite podcasts is NPR, How I Built This. |
| 1:08.9 | I highly recommend for you guys to listen to it. It's just about the entrepreneurial journey of great |
| 1:13.6 | entrepreneurs that they're great people. And the reason I think it's exciting, I love that show |
| 1:18.4 | because you really get to hear the behind the scenes of the beginning. And I think the beginning |
| 1:23.4 | is so important of the entrepreneurial journey. And a lot of times even people may have follow Mimi |
| 1:29.1 | or myself or even other people, you're looking stuff there, one side it. And to be able to go to |
| 1:35.2 | the beginning of the journey, or even before the business or before anything happened, I think |
| 1:40.1 | it's so important. So what I'm going to do today, I'm going to try. It's like getting a glimpse of |
| 1:43.6 | backstage. Exactly. So this is going to be very exciting episode. I'm very excited to do this |
| 1:48.2 | because we're going to do our best to give you guys the true behind the scenes of just the business |
| 1:53.6 | of what happened, things along the journey. And this is just for our own memories as well. This |
| 1:59.1 | is very special. There's going to be an episode actually coming up as well that we're going to do |
... |
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