TERRI VINSON - SYNERGIE SKIN
ON TAKING HER $40K EMERGENCY FUND AND TURNING IT INTO A MULTIMILLION DOLLAR SKINCARE BRAND.
How do you go from losing everything in your 40’s, and find the strength to create something from nothing, by building a business from the ground up?
That’s the conversation we’re having with scientist, formulator and founder of Synergie Skin, Terri Vinson. Back then, she invested everything she had left into opening her first skin clinic, but it didn’t quite take off the way she hoped it would. But after a lot of hustle and hard work, she now has her own skincare range, manufacturing facility and employs over 30 staff. And she’s not got her sights set on expanding around the world.
We talk about how gut instinct has played a big part in her success, why she believes if you can’t let go, you won’t grow, and how to build a team that work as if they own a stake in the brand.
You’ll learn:
How she started the biz with $40k after her then-husband lost the family’s cash and assets in a few bad deals.
How her background as a scientist and formulator has given her a unique advantage in the cluttered skincare space.
Why she brought her manufacturing from offshore back into Australia.
How her debt averse money mindset has directly influenced the trajectory of the business.
Her four ingredients to being a successful entrepreneur – passion, ability, tenacity and hard work.
We hope you enjoyed this conversation – for more podcast action follow us on Instagram @lady.brains, or sign up to our monthly newsletter at www.ladybrains.com
This episode was brought to you in partnership with Kin Fertility.
THE BITS YOU DON’T WANT TO MISS
“If someone tells me I can’t do it, I’ll say WATCH ME.”
“Business isn’t a complex science. It’s about understanding people, empathy and logic.”
“If you don’t let go, you won’t grow.”
“I used to do a lot of travel, particularly overseas trying to grow the business. I’d go to Southern Cross train station with my suitcase, off to Melbourne Airport. I did that every time until my accountant said, Terri, you don’t have to do that anymore. You can get a taxi or Uber, you don’t have to get the Sky Bus. I was always trying to preserve cash and reinvest it into the business! I always had that save mentality.”
“I’ve always been very careful with my money. I’m very debt averse. Because of that mindset, I didn’t want to borrow money. So every cent of profit I made went back into the business. As we grew, I did need to take out a business loan to buy our manufacturing premises, but everything else in the business is self funded. I could have gone after investment and rapid growth, but for me, money isn’t something that you should chase. The faster you chase it, the faster it runs away from you. ”
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