Build Value By Choice

Lessons from Scaling to a $20M Hair Care Products Business with Ryan Margolin

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Ryan Margolin is the CEO of Professional Hair Labs, he set out on his journey to help create a world leading cosmetic product when his mother was poisoned by the harmful chemicals and adhesive products commonly used in industry Ryan was inspired to keep the same thing from happening to anybody else. This week on Build Value By Choice we talk about how the CEO of a major healthcare products company was able to scale up its business.

 

KEY TAKEAWAYS

  • Ryan dove into the research and created the first care product free of harmful substances. Now, nearly 20 years later, Ryan is an international business leader and an entrepreneur who works in more than 15 different countries. There he helps create sustainable services and products and industries full of subpar and even harmful options. With his expertise, he's been able to form his strategies for success in multiple different industries.
  • As well as dedication to people first. He has expanded his business tenfold and grown to become one of the 500 fastest growing companies in the US over the last five years, and has sold more than 50 million in product globally.
  • The company started in the nonsurgical hair replacement niche supplying a solution to individuals who suffered from hair loss, whether it be through hereditary means or health issues, such as cancer and they were going through chemotherapy. Over the years they have developed not only their own product line further but have been able to expand their cosmetic offerings to a wider range of different categories such as body care and skin care.
  • There's always somebody that has learned from the growth pattern that you're on, and they have the information you need. Ryan has a board which is involved with multiple people as well as operational consultants, digital consultants and a good solid advisory team that are helping navigate the waters in times where there is uncertainty.
  • When it comes to scaling, every month Harry would look at their profitability and choose to just reinvest some of that back into what the company needed. Some months you're going to have a higher revenue than others, but in those months where you have the higher revenue, you just put a bit more away and then that starts to compound and that allows you to do the bigger things.

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    BEST MOMENTS

     

    ‘We undertake this journey because number one, we want to protect the future growth of the business’

    ‘So what do you do? Do you let your ego override your ability to be a smarter individual?’

    ‘First, be willing to learn and then go find the people that can help you’

     

    EPISODE RESOURCES

    Free Business Goals Quiz

    Productize ebook

    https://www.linkedin.com/in/ryanmargolin/

    https://prohairlabs.com/

     

    VALUABLE RESOURCES

     

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    Podcast website: https://infhorizons.com/podcast/

    Don’t forget to subscribe to the podcast and share it.

     

    PODCAST DESCRIPTION

     

    Hosted by Nana Bonsu of Infinite Horizons, this show aims to serve small business owners who want to grow their businesses...

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    Build Value By ChoiceBy Nana Bonsu
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