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The Highs And Lows Of Disrupting An Industry With Ryan Margolin
On this episode of Build Better Brands, Danielle Clarke is joined by Ryan Margolin, CEO of Professional Hair Labs to talk about his journey to help create world-leading products in cosmetic bonding and international businesses.
KEY TAKEAWAYS
- My parents were both entrepreneurs running their own businesses, so I grew up well versed in business. Sadly, over years of using products in a hair replacement studio, my mother got chemical poisoning. She’s OK, but it forced her to retire early which pushed my dad to sell the business and he focussed his attention on building a product line that was safe for technicians. Since then it’s developed into a completely different business, but at its core that’s where the foundations of the company was built.
- Historically, the industry has used the same products for the last 40-50 years. Now, all of a sudden, here’s my dad and his company offering a new solution. The biggest hurdle was about education; why they should be using this product over the others. This required a high level of research and development and commitment to getting the product out there and validating it across industry, and we did that.
- By the time I came into the business the foundations had already been set by my dad’s idea. He had a really good baseline product, but it was missing a couple of key components that we had always felt would be beneficial to a water-based adhesive. The problem was the technology didn’t exist at the time. In 2009 we realised a company had created that technology, though it was patented and really expensive to buy, we started to reformulate our product with that ingredient which gave it its water and oil resistance. Within 18 months we’d tripled the revenue of the company.
- I felt I could now take this repeatable process and put it into any marketplace, so I moved back to Ireland and opened up and it fell flat on its face! I considered shutting it down. It was performing that bad, but stuck at it and we were able to build a couple of really good distribution relationships in Europe. What I realised was the difference between the US and Europe is the cultural approach of doing business and I had to adapt to that, go to trade shows and meet with a lot of high level hair suppliers who were really helpful. It was a year and a half before we had traction. That taught me that you need to research the marketplaces you want to expand into and learn how to do business internationally.
BEST MOMENTS
‘I had no intention of working in a family business, I wanted to do my own thing. But naturally opportunity aligned back in 2008 with the economic crash.’
‘I don’t tend to moan about anything because ultimately what does it achieve? If there’s a problem, there’s a solution, so you can moan about it or you can get on and fix it. That’s typically my mindset.’
‘It’s all about what you’re willing to put in and how much you’re willing to commit to learning and making not only your industry but the world a more ethical place to do business.’
‘Knowing what I know now, if I was doing it all over again, if you have a physical product or even a service that has intellectual property such as systems that can be protected, I would always start by protecting those in the US, Europe and China.’
ABOUT THE GUEST
Ryan Margolin: As an International Business Leader and Entrepreneur, I help create sustainable services and products for industries that are full of subpar options.
At Professional Hair Labs, I am an integral part of our family business where we have become the #1 Choice of Hair Replacement Professionals and are a World Leader in Cosmetic Bonding. We manufacture and supply high performance products to the cosmetic industry.
Website: https://www.prohairlabs.com/
LinkedIn: https://www.linkedin.com/in/ryanmargolin/
PODCAST DESCRIPTION
The Build Better Brands podcast is to inspire small business owners and help them realise that they don't have to be Nike to have a great brand, and the sooner they start to focus on making it better, the sooner they can improve their lives and the lives of others.
On the show I’ll be talking to business owners that have built brands from the ground up. Branding is how you present your best self to your audience consistently. And if they can do it, so can you!
ABOUT THE HOST - DANIELLE CLARKE
Danielle Clarke is a Brand and Marketing Consultant, University Lecturer and Business Owner. She spends her time consulting and working with business owners to help them attract and retain their best customers.
WORK WITH DANIELLE TO HELP BUILD THE BRANDING AND MARKETING STRATEGIES YOUR BUSINESS NEEDS TO GROW: https://calendly.com/hello-danielle-clarke-creative/free-15-min-discovery-call
CONNECT WITH DANIELLE ON LINKEDIN: https://www.linkedin.com/in/danielle-clarke-creative-brand-designer-marketing-consultant
SUPPORT THE SHOW: https://www.buymeacoffee.com/danielleclarke
This show was brought to you by Progressive Media
Hosted on Acast. See acast.com/privacy for more information.
View all episodes
By Danielle ClarkeOn this episode of Build Better Brands, Danielle Clarke is joined by Ryan Margolin, CEO of Professional Hair Labs to talk about his journey to help create world-leading products in cosmetic bonding and international businesses.
KEY TAKEAWAYS
- My parents were both entrepreneurs running their own businesses, so I grew up well versed in business. Sadly, over years of using products in a hair replacement studio, my mother got chemical poisoning. She’s OK, but it forced her to retire early which pushed my dad to sell the business and he focussed his attention on building a product line that was safe for technicians. Since then it’s developed into a completely different business, but at its core that’s where the foundations of the company was built.
- Historically, the industry has used the same products for the last 40-50 years. Now, all of a sudden, here’s my dad and his company offering a new solution. The biggest hurdle was about education; why they should be using this product over the others. This required a high level of research and development and commitment to getting the product out there and validating it across industry, and we did that.
- By the time I came into the business the foundations had already been set by my dad’s idea. He had a really good baseline product, but it was missing a couple of key components that we had always felt would be beneficial to a water-based adhesive. The problem was the technology didn’t exist at the time. In 2009 we realised a company had created that technology, though it was patented and really expensive to buy, we started to reformulate our product with that ingredient which gave it its water and oil resistance. Within 18 months we’d tripled the revenue of the company.
- I felt I could now take this repeatable process and put it into any marketplace, so I moved back to Ireland and opened up and it fell flat on its face! I considered shutting it down. It was performing that bad, but stuck at it and we were able to build a couple of really good distribution relationships in Europe. What I realised was the difference between the US and Europe is the cultural approach of doing business and I had to adapt to that, go to trade shows and meet with a lot of high level hair suppliers who were really helpful. It was a year and a half before we had traction. That taught me that you need to research the marketplaces you want to expand into and learn how to do business internationally.
BEST MOMENTS
‘I had no intention of working in a family business, I wanted to do my own thing. But naturally opportunity aligned back in 2008 with the economic crash.’
‘I don’t tend to moan about anything because ultimately what does it achieve? If there’s a problem, there’s a solution, so you can moan about it or you can get on and fix it. That’s typically my mindset.’
‘It’s all about what you’re willing to put in and how much you’re willing to commit to learning and making not only your industry but the world a more ethical place to do business.’
‘Knowing what I know now, if I was doing it all over again, if you have a physical product or even a service that has intellectual property such as systems that can be protected, I would always start by protecting those in the US, Europe and China.’
ABOUT THE GUEST
Ryan Margolin: As an International Business Leader and Entrepreneur, I help create sustainable services and products for industries that are full of subpar options.
At Professional Hair Labs, I am an integral part of our family business where we have become the #1 Choice of Hair Replacement Professionals and are a World Leader in Cosmetic Bonding. We manufacture and supply high performance products to the cosmetic industry.
Website: https://www.prohairlabs.com/
LinkedIn: https://www.linkedin.com/in/ryanmargolin/
PODCAST DESCRIPTION
The Build Better Brands podcast is to inspire small business owners and help them realise that they don't have to be Nike to have a great brand, and the sooner they start to focus on making it better, the sooner they can improve their lives and the lives of others.
On the show I’ll be talking to business owners that have built brands from the ground up. Branding is how you present your best self to your audience consistently. And if they can do it, so can you!
ABOUT THE HOST - DANIELLE CLARKE
Danielle Clarke is a Brand and Marketing Consultant, University Lecturer and Business Owner. She spends her time consulting and working with business owners to help them attract and retain their best customers.
WORK WITH DANIELLE TO HELP BUILD THE BRANDING AND MARKETING STRATEGIES YOUR BUSINESS NEEDS TO GROW: https://calendly.com/hello-danielle-clarke-creative/free-15-min-discovery-call
CONNECT WITH DANIELLE ON LINKEDIN: https://www.linkedin.com/in/danielle-clarke-creative-brand-designer-marketing-consultant
SUPPORT THE SHOW: https://www.buymeacoffee.com/danielleclarke
This show was brought to you by Progressive Media
Hosted on Acast. See acast.com/privacy for more information.