‘Everyone thought we were nuts': Woman's idea that turned into a multimillion-dollar success
Back in 2007, Ms Bryce-Smith conceived the idea to launch Original & Mineral, a haircare line that focused on using natural ingredients instead of chemicals.
The 50-year-old said even though $80,000 was a staggering amount back in 2007 she always knew what she could afford to spend.
'Although $80K was a lot in the early 2000s, we had a good business, our hair salon! So if we did lose it, we knew we could make it back,' she told news.com.au.
'We believed in the product.'
Ms Bryce-Smith might have been sure about her plan, but not everyone else was sold on the idea.
'Everyone thought we were nuts,' she said.
'Some people told me to get a proper job, since I'd had a career in advertising in the UK, and for many years I earned no money doing O&M.'
She also found it hard to get people to believe in the product because many claimed it wasn't possible to make hair products without ammonia.
There was one person though who completely supported her even when she wasn't making a wage from the bold idea.
'My mum always had an unwavering belief in me and my ability to do anything.' she said.
'I've never been afraid to back myself, I mean, what's the worst that can happen? You fail. I've done a lot of that, and I learned a lot from it, which set me up for success.'
The fact that Ms Bryce-Smith always believed in herself and the brand turned out to be a winning recipe.
Original & Mineral is now stocked at over 50,000 salons globally and a product sells every 8 seconds.
That doesn't mean the success didn't come without failure along the way. Looking back, she can see the mistakes she made.
'I think one of the biggest mistakes was choosing the wrong people, letting people pick me instead of me picking them,' she said.
'Starting a business is a very entrepreneurial mission, and the lows are not for everyone. There's a lot of pivoting and problem-solving.'
There has been so much success along over the years, but Ms Bryce-Smith is still buzzing about launching their hair colouring product a decade ago.
'We cracked the formula in 2015,' she said.
What makes the product special is that it doesn't smell and there are no fumes. As Aussies have come to care more about wellness and health, the product has grown in popularity and really took off during the pandemic.
The success has led to the brand growing even further, and now there are over 50 people working in the head office in Sydney.
The profit is in the 'tens of millions' and has grown four times the size in the last few years, with the business continuing to scale up.
Most importantly though, Ms Bryce-Smith is proud of what she's created and still believes in what she's doing.
'It was never about the size and growth (that is) a by-product of doing what you love,' she said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
12 minutes ago
- News.com.au
Break it Down: Fortescue commits $3.5M to fast-track Myall JV with Magmatic
Stockhead's Break it Down brings you today's leading market news in under 90 seconds. In this episode, host Tylah Tully looks at news from Magmatic Resources (ASX:MAG), which has locked in a $3.5 million exploration budget with joint venture partner Fortescue (ASX:FMG). The funds will be used at the joint ventured Myall project in New South Wales for drilling across FY25-FY26. Watch the video to learn more. While Magmatic Resources is a Stockhead advertiser, it did not sponsor this content. Originally published as Break it Down: Fortescue commits $3.5M to fast-track Myall JV with Magmatic
News.com.au
22 minutes ago
- News.com.au
‘Hit to global growth': Australia to feel the impacts of Trump tariffs
Australia may have avoided the worst of the US tariffs, but it is still likely to impact every household in a few key ways. Starting August 1, US trading partners faced a wave of fresh levies. US President Donald Trump signed in higher rates for many countries under a new executive order, but so far has left the original baseline tariffs at 10 per cent. Australia does not have an additional 'reciprocal tariff' and only faces the base rate. AMP chief economist Shane Oliver said while Australia would not be directly impacted, there would be second order impacts. 'It is good news for Australian companies but the threat to global growth remains significant,' Dr Oliver said. 'The average tariff rate is 20 per cent …. well up from the two to three per cent tariff going to the US at the start of the year. 'There is going to be a hit to the US economic growth and global growth as there is a big increase compared to last year.' This slowdown is the biggest threat to the Australian economy. Interest rate In a win for mortgage holders and a loss for savers, the fallout from Trump's tariffs could see interest rates cut further than previously anticipated. Dr Oliver said on the back of slowing economic growth households with a mortgage could benefit from lower rates. 'It won't push prices up in Australia …. if anything, the weaker economic growth environment that might unfold could mean less inflation,' he told NewsWire. 'But there is this perverse thing because of the uncertainty imposed on global growth. 'It could mean lower than otherwise interest rates and households with mortgages will benefit from that.' The RBA minutes from July showed while interest rates were kept on hold, the board was already debating the impact of Trump's tariffs. The minority in favour of a cut argued that US tariff policy would be a drag on future global economic growth, Australia's economy is subdued, household spending was weak and the economy lost momentum. 'Uncertainty in the world economy remained pronounced and the material increase in US tariffs – even if not as extreme as had been announced in early April – would be a drag on future growth abroad, and thereby domestic economic activity and inflation,' the minutes of the RBA's monetary policy meeting said. Jobs market While interest rate falls could help mortgage holders, the same economic fallout could smash the Australian jobs market. In its latest release of jobs data, the ABS revealed Australia's unemployment rate jumped to 4.3 per cent — its highest level since the post pandemic recovery. Still, it remains lower than the long term average. Dr Oliver also said Australians might find the overall economic market tougher in the foreseeable future, which would impact jobs. 'If global growth is weaker that means less demand for our exports, less national income which could adversely affect economic growth in Australia, which could mean the jobs market may not be as strong as it has been,' he said. 'It might be a tougher economic environment generally for Australians meaning it's a little bit harder to get a job.' S uperannuation Investments in shares and superannuation are tipped to be more volatile, although it is unlikely to see the same dramatic drop as the post 'Liberation day falls'. When the tariffs were first announced on April 7, the ASX 200 wiped almost $110bn off as it fell by 4.2 per cent. The market eventually fell to a low point of 7169 points before rallying 22 per cent to the end of July. IG market analyst Tony Sycamore said currently the market reaction was 'subdued' to the tariffs, with investors learning tariffs could be negotiated. 'The combination of these factors has kept market volatility low at this point of time,' Mr Sycamore said. 'What could change this situation, is retaliatory tariffs from impacted countries, which in turn could lead to higher tariffs from the US than the ones announced this morning.' Meat and livestock Australian beef producers are so far the surprising winner out of Mr Trump's crackdown on imports, as limited stock and a lack of supply sees Australia emerge as the last man standing. Commonwealth Bank sustainable and agricultural economist Dennis Voznesenski previously told NewsWire strong demand out of the US would continue to support new all-time highs. 'The US has largely four sources to import beef from abroad, being Mexico, Canada, Brazil and Australia,' Mr Voznesenski said. 'Mexico has a flesh eating bacteria called new age screw worm with the US closing the border to Mexico … Canada exports to the US are down 25 per cent from last year as they rebuild stock and as of August 1 President Trump plans to put a 50 per cent tariff on Brazil.' The economist said US farmers currently had a multiple-decade low supply of beef, meaning they will need to continue to export from other countries. 'Typically with tariffs the objective is to the onshore industry. With some products you can restart quickly, but with cattle it's just not how it works, ' Mr Voznesenski said. Buying medicines Australians as a whole could be paying more for medicines as the US President took aim at 'foreign freeloading nations.' In a group, which alluded to Australia's pharmaceutical benefit schemes, Mr Trump issued a letter to the bosses of 17 drug firms on Thursday demanding they extend 'most favoured nation' pricing to the US. 'Domestic MFN pricing will require you, and all manufacturers, to negotiate harder with foreign freeloading nations,' Mr Trump wrote in the letters. 'US trade policy will endeavour to support this. However, increased revenues abroad must be repatriated to lower drug prices for American patients and taxpayers through an explicit agreement with the United States.' While pointing out the full impact was currently unknown, Dr Oliver said it was conceivable individual Australians or the government would have to pay more for medicines.
ABC News
42 minutes ago
- ABC News
Queensland transport minister Brent Mickelberg says nothing is off the table to address e-scooter issues.
Queensland transport minister Brent Mickelberg says nothing is off the table to address e-scooter issues.
