GE 204: How Daisy Jing Accidentally Became an Entrepreneur and Now Runs a $3M ARR Company (podcast)

Hey everyone, today I share the mic with Daisy Jing, CEO of Banish, the natural solution for skin problems.

Tune in to hear Daisy discuss how she accidentally became an entrepreneur and created her own line of skin care products, how she grew her business to $3 million in revenue, how she maximizes YouTube as a marketing tool (and grew her channel to 60M views & 200K subscribers), and the importance of building a community.

Download podcast transcript [PDF] here: How Daisy Jing Accidentally Became an Entrepreneur and Now Runs a $3M ARR Company TRANSCRIPT

Time-Stamped Show Notes:

• 00:39 – Leave a review and rating and subscribe to the podcast
• 01:05 – Eric welcomes Daisy Jing
• 01:20 – Daisy is the 28 year old CEO of Banish, a company that offers natural solutions to skin problems and blemishes
  • 01:50 – Daisy started the company in 2013, from her own kitchen
• 02:11 – The revenue of the company is around $3 million
• 02:26 – Daisy says her YouTube channel is instrumental in her business’ success
  • 02:36 – Daisy’s videos show her reviews of different skin products
  • 02:47 – Daisy gained enough followers which gained her enough trust to launch her own products
  • 03:09 – Daisy started to mix stuff in her own kitchen and within weeks of using it, her followers noticed how good her skin looked
  • 03:23 – Daisy decided to make a few batches and sell it
• 03:32 – Daisy believes it’s the videos and the community that helped grow the business
• 03:47 – One video, Growing Up Ugly, got more than 200,000 views
• 04:09 – In the skincare industry, trust is important
• 04:29 – The number of total views is at 16 million and subscribers at 200,000
  • 04:46 – Daisy does not have time to make new videos
  • 05:16 – Daisy has outsourced content making
• 05:35 – Daisy never wanted to be a YouTube celebrity, she just wanted to be a trusted source for skin care
• 06:13 – Daisy used to spend 50 to 60 hours a week making her own video reviews
• 06:47 – Daisy says persistence played a role in her success
• 07:07 – Keep doing it and love what you are doing
• 07:56 – When you reach a certain number, collaboration with others is easier and you also get invited to different events to gain more exposure
  • 08:16 – The first thousand subscribers was really hard
  • 08:30 – Daisy took 5 years to reach a hundred thousand subscribers
• 08:49 – The community helped Daisy get her first thousand customers
• 09:30 – The next wave of customers was through reviews of influencers
  • 10:10 – Look for people who are not big yet and build a relationship with them
  • 10:33 – Figure out what your marketing channel is and do it day after day, after day…
  • 10:44 – Daisy thinks she is good at spotting influencers
  • 11:38 – Daisy looks at the engagement rates and if he or she is known for being sponsored by a big brand
• 12:06 – Daisy has a lot of repeat customers
• 12:20 – Have a good product and stick with it
• 12:25 – Learn the social media channels and where influencers are going
• 13:44 – What’s one big struggle you’ve faced while growing the business – Daisy needs to learn how to think bigger and how to NOT do it all
  • 14:23 – Daisy says she needs to let go and let smarter people help her do her work
• 14:39 – What’s one big change you made in the last year that has impacted your life dramatically? – Daisy does not go the office as often as she has in the past and has learned to let people work autonomously
  • 15:32 – Daisy does one-on-ones with managers once a week or every other week and it is consultative in nature, rather than her giving orders
• 16:12 – Daisy now works anywhere she wants and the company still runs smoothly even if she’s not physically present at the office
• 16:29 – Daisy has 3 or 4 number twos
• 16:51 – Daisy has also stopped developing friendships with her co-workers to separate work from her personal life
• 17:41 – In case she needs to make a difficult decision, Daisy wants to base it on the work rather than their relationship
• 18:00 – What’s one new tool that you’ve added in the last year that has added a lot of value to you? – Voice Messaging
• 18:37 – Eric also wants to start using voice messaging
• 19:42 – What’s one book that you’d recommend to everyone? – The E-Myth
• 20:20 – What’s one blog or podcast that you listen to everywhere? – Growth Everywhere
• 20:50 – Connect with Daisy thru her email
• 21:03 – End of today’s episode

3 Key Points:

1. If you can, establish credibility and trust before you even begin your company.
2. Persistence will eventually pay off.
3. Learn how to delegate tasks to people who are smarter than you.

Resources From This Interview:

• Daisy’s YouTube channel
• Banish
• Growing Up Ugly video
• Must-read book: The E-Myth by Michael Gerber
• Must-hear podcast: Growth Everywhere
• Daisy’s e-mail

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 Connect With Eric Siu:

• Growth Everywhere
• Single Grain
• Twitter @ericosiu