I Grew My Company From $20K to Millions By Focusing on Instincts, Not Investors A breakdown of how to be flexible and make key strategic decisions in critical moments.
By Maria Hatzistefanis Edited by Mark Klekas
Opinions expressed by Entrepreneur contributors are their own.
With an MBA and years of finance experience under my belt, I felt ready to start my own business in 1999. I drafted — at least what I thought at the time — a perfect business plan for a skincare company that addressed a gap in the market. I expected offers to pour in from investors and venture capitalists (VCs).
However, after reaching out to 50 VCs, I received only 10 responses, landed two meetings, and secured zero investments. It was a shock — not just because of the lack of funding, but because I didn't get the validation that I was on the right path. I started to doubt myself. Had I made a huge mistake?
Related: This Brilliant 'Cohort' Trick Can Help You Come Up With a Business Idea Worth Millions
But I knew there was no going back. I was determined not to return to finance, so I invested my $20,000 in savings and launched Rodial from a small room in my home. Rodial is a luxury, London-based brand focused on creating premium skincare products with cutting-edge ingredients to deliver targeted results. I knew it would be a tough business to get into but I was determined to use my limited resources to make it work. One day, in particular, set us on a path that helped grow the company tenfold.
Embracing our ah-ha moments
It was during the early days of the company. I handled everything — working with labs to create formulas, keeping stock at home, packing boxes myself, and spending weekends in retail stores promoting and selling my products.
Then, in the fifth year of business, we had our breakthrough. We had just moved into our first small office, with a staff of three, and were about to launch our first anti-aging serum. The design was simple — a white bottle labeled "anti-aging." But I knew we needed something to stand out from the big brands with their massive ad campaigns and celebrity endorsements. We needed an edge.
As I reviewed the ingredients, one stood out — Viper Venom. I had a light bulb moment: Why don't we call it Snake Serum? My team thought I'd lost it and that I was about to tank the business. But I trusted my instincts, and we went for it.
We capitalized on the name, changed the bottle to black, did a photo shoot with live snakes, and sent a press release to all the media. The bold move paid off — the product name and story went viral globally. Calls started pouring in from retailers in Australia, Japan, and Germany. Overnight, we went from selling a few hundred products weekly to thousands.
My advice to new entrepreneurs
Now, 25 years later, I offer a few pieces of advice to those who want to start a business but may not have the funds or backing that other companies get:
- Learn to pivot — You may think there is only one way to reach your goals. Always have a Plan B and C in mind. Stick to your goals, but be flexible about how to get there.
- Trust your gut — When you don't know which direction to take and you feel overwhelmed, take a step back, put yourself outside of the current situation and go with the path that feels right.
- Use your limited resources to their fullest potential — To remain flexible and maximize your resources, hire people who can contribute across multiple areas of your business rather than strictly adhering to a rigid job description.
- Don't let a lack of connection deter you — Your time and energy are your biggest and least expensive tools to make it happen. Use your time and energy to connect, network and create traction for your brand.
No matter the situation, I never stopped trusting my gut, knowing when to pivot, and strategically using all my available resources. Regardless of how big my business is, or how big yours is, these skills helped me grow my instincts and made me a better entrepreneur. I couldn't be prouder of the success my team and I have achieved. We've built something incredible, and the journey has been worth every challenge.
