Toni Ko sold$2 million of makeupin her first year of business, before hiring a single employee.
She grew her company NYX Cosmetics into a half-billion-dollar business before selling it to LOreal.
I started working at my familys beauty business when I was 15 years old.
I was basically married to the company for 15 years until I sold it to LOreal in 2014.
I also started a fund,Butter Ventures, that invests in female-owned businesses.
What were the crucial steps in growing your business from a one-woman operation to a large brand?
Financial security is incredibly important.
Obviously, if you dont have the finances, you cant make the payroll.
This helped me build a very strong financial foundation.
Whats the biggest mistake youve made and how did you deal with it?
When I launched my sunglass business, I went too big.
The keyword is too much.
I had to make quick decisions and take swift action.
Whats changed in the beauty industry since you started?
The real question is, what has NOT changed?
The beauty industry has changed so much that I am honestly having a difficult time catching up.
The sales channel, marketing, social media, consumer behavioreverything has changed!
The traditional ways of thinking are no longer relevant, and one must adapt or fall behind.
What do you consider when deciding to invest in a company?
I need entrepreneurs who are ALL IN.
I have to see the combination of a great product and a great entrepreneur.
Take us through a recent workday.
When I returned back to Los Angeles, I started to put in 12-14-hour workdays.
After that, I get ready and head into the office.
I will typically schedule meetings during lunchtime so I can best utilize the lunch hour.
Then youll find me back on the computer emailing with vendors or getting some reading done.
What apps, gadgets, or tools cant you live without?
I cant live without a notebook and a pen.
A real paper notebook and a superfine pen is a MUST!
I still like to write things down.
Whats your workspace setup like?
I still work at my L-shaped desk that Ive owned since I started my first company in 1999.
I dont think I can ever part with this desk.
I always have piles of papers and samples on my desks.
I clean it all the time, but things get piled on pretty quick.
Whats your favorite shortcut or hack?
Take us through an interesting, unusual, or finicky process you have in place at work.
We dont have a lot of meetings at my company because I think too many meetings are counterproductive.
Also, I have an open-door policy for everyone, including myself.
How do you keep track of what you have to do?
For meetings and itineraries, I use the calendar on my iPhone.
For projects, I always write a to-do list.
How do you recharge or take a break?
I love to travel.
Anywhere in the world.
Whats your favorite side project?
I absolutely love tending to my backyard chickens and vegetable garden.
I love to gift the eggs and veggies from my garden to my friends!
you might call me #FarmerKo.
What are you currently reading, or what do you recommend?
I just finished readingEducatedby Tara Westover, and it was amazing.
Im now currently readingBillion Dollar Whaleby Bradley Hope and Tom Wright, which is super interesting.
Who else would you like to see answer these questions?
Kerrigan Behrens, the co-founder and CMO of Sagely Naturals.
Whats the best advice youve ever received?
Focus only on the goal.
Everything else is just noise.
Whats a problem youre still trying to solve?
Trying to use less screen time on my iPhone.
