How I Built This with Guy Raz - Advice Line with Vicky Tsai of Tatcha (September 2024)
The episode provides practical advice for entrepreneurs on building brand awareness and overcoming business challenges. Vicky Tsai, co-founder of Tatcha, shares her journey of leaving corporate life to start a skincare company inspired by Japanese beauty rituals. She emphasizes the importance of authenticity and connecting with customers through storytelling. The episode also features calls from entrepreneurs seeking advice on increasing visibility for their brands. Key suggestions include leveraging social media, focusing on community building, and creating unique marketing strategies. For instance, Jessica Liu, a jewelry designer, is advised to showcase her craftsmanship on platforms like TikTok and collaborate with complementary brands. Brittany Lowe, founder of a vegan skincare line, is encouraged to focus on storytelling and building a strong brand identity before approaching retailers. Devin Clymer, co-founder of a mug cake mix brand, is advised to start locally and create engaging content to build buzz. The episode highlights the importance of understanding customer needs and using creative marketing to stand out in competitive markets.
Key Points:
- Leverage social media platforms like TikTok to showcase craftsmanship and connect with customers.
- Focus on building a strong brand identity and community before approaching large retailers.
- Collaborate with complementary brands to expand reach and share audiences.
- Start locally to build buzz and gather customer feedback before scaling.
- Use storytelling to communicate brand values and connect emotionally with customers.
Details:
1. đ§ Early Access for Wondery Plus Subscribers
- Wondery Plus subscribers can listen to content early and ad-free, providing a competitive edge in content consumption experience.
2. đ NerdWallet's 2025 Best Financial Products Awards
- NerdWallet conducted a comprehensive review of over 1,100 financial products, such as credit cards and savings accounts, to determine the best available options for 2025.
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- The 2025 Best of Awards provide a hassle-free way for consumers to access information on award-winning products, which can be found at nerdwallet.com/awards.
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3. đŗ Maximizing Business with Amex and State Farm
- The American Express Business Platinum Card provides a flexible spending limit that adapts to business needs, making it easier for business owners to manage their finances effectively.
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- Potential drawbacks include a high annual fee, which should be weighed against the benefits to ensure it aligns with business needs.
4. đ Special Episode Break and Upcoming Guests
- A break is being taken this week for new episode preparation.
- A favorite episode featuring Vicky Tsai of Tatcha is being shared during the break.
- New episodes will resume starting next week.
5. đ¸ Vicky Tsai's Inspiring Journey with Tatcha
- Vicky Tsai is the co-founder of Tatcha, a skincare company rooted in Japanese beauty rituals.
- Tsai previously worked in corporate finance and for Starbucks but became disillusioned with corporate life, leading to burnout and dermatitis.
- A transformative trip to Japan and an encounter with a geisha inspired her to start using their skincare products, which eventually led to the founding of Tatcha in 2008.
- The journey to build Tatcha was challenging and took time, highlighting Tsai's perseverance and determination to bring her vision to life.
6. đ Overcoming Self-Doubt and Leadership Challenges
6.1. Company Growth and Background
6.2. Career Transition and Decision to Change
6.3. Discovering New Opportunities
6.4. Leadership Transition
7. đââī¸ Rebuilding Confidence and Business Resilience
- The speaker emphasizes overcoming self-doubt and focusing on completing what was started, outlining the importance of resilience in business leadership.
- Comparison to notable business leaders like Steve Jobs and Howard Schultz suggests a narrative of returning to lead a company with renewed vision and determination, exemplifying how past success can be leveraged for future growth.
- The message underlines the necessity of pushing through challenges without indulging in doubt, which is portrayed as a luxury that cannot be afforded.
- Practical strategies include setting clear goals, maintaining a positive mindset, and learning from past experiences to guide future decisions, ensuring leaders remain focused and resilient.
8. đ Jewelry Business Insights: Visibility and Brand Awareness
- Jessica Liu, founder of Petite Anjou, designs and handcrafts demi-fine and fine jewelry with a sculptural aesthetic, using precious metals like sterling silver and 18-karat gold vermeil. Her pieces range from $195 to $1,600, making it challenging to use traditional marketing strategies like gifting to influencers due to the high cost.
- Jessica's business, being direct-to-consumer, maintains an inventory for each design, impacting capital outlay. Vicki suggests highlighting the craftsmanship process on platforms like TikTok to attract clients who appreciate artisanal work.
- To manage inventory costs effectively, Jessica should consider creating only one of each design initially and making more upon customer interest. Turning passionate clients into brand advocates can be more effective than broad sampling or heavy influencer gifting.
- Jessica has tried PR agencies, affiliate link programs, and editorial mentions but struggles with sample distribution due to cost. In-person shows provide market research opportunities, but she faces challenges in finding the right audience due to high price points.
- Collaborating with complementary brands can help share audiences and expand reach. Focusing on a niche market of professional women looking for timeless, unique jewelry can be more effective than targeting a mass market.
9. đĨ COVID-19: A Catalyst for New Ventures
- The COVID-19 pandemic acted as a catalyst for new business ventures as many individuals viewed the pandemic as a critical opportunity to pursue entrepreneurial ideas they were previously hesitant to explore.
- Specific industries such as technology, healthcare, and e-commerce experienced a surge in new startups and innovations.
- For example, the rise of telehealth services and remote work technologies were directly influenced by the pandemic's constraints.
- Entrepreneurs leveraged gaps in the market, such as the need for contactless delivery and digital solutions, leading to a significant increase in new business registrations.
- A concrete example includes the growth of online learning platforms, which saw a substantial increase in users and funding during the pandemic.
10. đĄ Skincare Brand Strategies: Focus and Growth
- Vicky Tsai emphasizes the importance of standing out as a brand by focusing on not just products, but the brand's purpose and intentions. This involves crafting a unique brand narrative that resonates with consumers.
- Brittany Lowe's skincare brand BÊa, which focuses on premium vegan products for intimate concerns, leverages personal stories to connect with consumers. This strategy underscores the power of personal storytelling in brand growth.
- BÊa is a self-funded brand, achieving approximately $1 million in revenue, demonstrating the potential for small-scale operations to succeed without large-scale funding.
- The advice given includes building brand presence through storytelling and viral marketing, as traditional pitching to retailers like Sephora is saturated, making it crucial to create a compelling brand narrative first.
- Using social media effectively is key, as buyers are more likely to join brands with a strong narrative rather than just purchasing products. This highlights the importance of digital engagement in modern brand strategies.
- Low-budget, humorous, viral marketing strategies are recommended, inspired by successful campaigns from Dollar Shave Club and Liquid Death. This suggests that creativity can often substitute for large marketing budgets.
- A focus on creating engaging, relatable content, especially on platforms like TikTok, can enhance brand visibility and consumer connection. This platform-specific strategy is integral for reaching younger demographics.
- Understanding the risks and costs associated with different retail models, such as QVC's consignment model, is crucial for financial planning. This insight highlights the need for strategic financial management in brand growth.
- The conversation underscores the importance of creating buzz and demand before approaching retailers to avoid financial pitfalls. This proactive approach is essential for maintaining brand control and sustainability.
- Brittany Lowe operates with a lean team, consisting of one full-time, one part-time employee, and several freelancers, showcasing efficient resource management. This indicates that strategic staffing can lead to effective brand operations without significant overhead.
11. đ° Mug Cake Business: Building Buzz and Community
11.1. Introduction to Mugsy Bakes
11.2. Product Description and Vision
11.3. Target Audience
11.4. Market Strategy and Community Building
11.5. Overcoming Challenges in Entrepreneurship
12. đļ Podcast Production and Closing Remarks
- The podcast episode was produced by a dedicated team, including Catherine Seifer as producer, with music by Ramtina Rablui, and editing by John Isabella, showcasing the collaborative effort behind the scenes.
- Sina Lafredo managed the audio engineering, while additional production staff like Alex Chung and Carla Estevez contributed significantly, highlighting the comprehensive team involvement.
- Listeners are encouraged to participate in a survey at wondery.com/survey, aimed at gathering valuable audience feedback to enhance future episodes and engage listeners more effectively.
- Guy Raz emphasizes the importance of audience attraction and lead scoring, which are strategic aspects of achieving business growth through the podcast.