A Billion dollar NIGHTMARE! The Disturbing Drama Behind The Scenes Of A Billion Dollar Beauty Business. The Ordinary - Nicola Kilner

Jun 5, 2023 1h 52m 12 insights
Nicola Kilner, Co-founder and CEO of Deciem and The Ordinary, shares the inspiring and tragic story of building a $2.2 billion empire. She discusses the unique culture, the challenges of a co-founder's mental health spiral, and her leadership philosophy centered on kindness, authenticity, and product quality.
Actionable Insights

1. Prioritize Product Quality First

Focus on creating the very best product with strong scientific backing that delivers results, as this is the fundamental driver of success and enables future investments in social impact and sustainability.

2. Embrace “Focus is Overrated” for Startups

As a startup, consider developing multiple ideas or brands simultaneously to create an ecosystem, share costs, and allow for cheap, quick failures until something gains traction, rather than focusing on a single venture.

3. Hire for Fresh Perspectives

Actively recruit individuals straight out of university or college who lack preconditioned industry ideas, as their practical viewpoints can foster different thinking and drive innovation.

4. Cultivate a “Family” Culture (with Kindness)

Build a company where everyone feels they belong, are loved, supported, and safe, fostering deep relationships and dedication. Remember that true kindness involves difficult conversations for growth, not just superficial niceness.

5. Know Your Strengths and Delegate Weaknesses

Practice self-awareness by understanding your personal strengths and weaknesses, then empower trusted, experienced individuals to manage areas where you are not an expert to maintain authenticity and effectiveness.

6. Seek Inspiration Outside Your Industry

To innovate and differentiate, draw inspiration from diverse fields outside your immediate industry or category (e.g., pharmacy for skincare), rather than replicating what competitors are doing.

7. Gain Corporate Experience Before Founding

Spend a few years in a corporate environment to learn effective practices and identify drawbacks of large organizations, which provides valuable insights before venturing into entrepreneurship or joining a startup.

8. Hire Adaptable Team Members

In early startup phases, prioritize hiring individuals who are prepared to “wear every hat,” meaning they are willing to perform any task necessary, from production to packing, to ensure agility and meet demand.

9. Define Your Personal Work-Life Balance

Recognize that work-life balance is subjective and changes throughout different periods of life; prioritize your happiness and adjust your commitments accordingly, rather than adhering to a universal standard.

10. Adopt a “Build Growth, Power Good” Strategy

Frame your business strategy around the idea that building financial growth enables greater capacity to “power good” through social impact, transparency, and accessibility, creating a continuous positive cycle.

11. Maintain Calmness and Positivity

Cultivate an air of calmness and consistently find the positive in every situation, as this infectious attitude can inspire others, build belief in your vision, and help navigate through challenging times.

12. Utilize Hot Desking for Connection

As a leader, practice hot desking or floating between different desks to engage with various teams, fostering personal connections and a deeper understanding of company operations.