In this episode, we learn about how a former investment banker and private equity analyst left his high paying job in Paris to follow his dreams of becoming an entrepreneur. Christian Ngan, is the CEO and founder of Madlyn Cazalis, a cosmetic and beauty line based out of Cameroon. Prior to founding his company, Christian studied at some of the most prestigious schools in France and worked as an investment banker and private equity expert at companies like Findercod, Quilvest, and Societe Generale. In 2012, he decided to quit his job, and scratch his entrepreneurial itch. With $3,000 in savings, he moved back to Cameroon to launch Madlyn Cazalis. Today, the company’s products can be found in more than 40 retail outlets in Cameroon, boasts a growing employee base, and is on track to break even by December 2014. Christian, was also featured in the venerable Forbes list of “30 Most Promising Young Entrepreneurs in Africa 2014.”
What you will learn
- The Big Idea
- How he got into the cosmetic industry (Madlyn Cazalis)
- The chemistry behind cosmetics
- Developing first products
- The business of the cosmetics industry
- Standing out as a new entrant in the cosmetic industry
- Focus on great customer service
- Free delivery of products
- Customer feedback
- Only use verified sellers to carry products
- Educating customers on products
- The challenges of setting up a start-up
- The biggest problem is starting and having the courage to leave your comfort zone
- Lack of encouragement from government with regards to entrepreneurship
- Combatting the dominant mentality that only foreign products are good
- His first entrepreneurial venture
- Selling downloaded/burned music CDs in high school
- Failures/ obstacles in his entrepreneurial journey
- Doing business in Cameroon vs. France
- Basically the same mindset in both countries
- Lack of trust for local businesses
- No encouragement for new initiatives
- Both countries are unlike America which is a country of entrepreneurship
- Basically the same mindset in both countries
- How he educates people on the value of his products
- Participating in conferences
- Social media
- The marketing aspect and the problem of distributing products from Cameroon
- Starting a company with a limited amount of capital
- Start small, but think big
- Entrepreneurship is a state of mind. It requires discipline, hard work and passion. It is not about the money, but the mindset
- Money doesn’t make the project, the project makes the money
- How he pitched getting his products into stores
- Dress to impress
- Pound the pavement
- Pitch to various beauty institutes
- Elicit customer feedback
- Continuos research and development to improve the product
- Raising funds and attracting investors
Key Advice
- To young Christian starting out:
- Start small. Do things step by step
- Improve the quality of the products
- Be a reference in the market
Words of wisdom
- If you have big dreams and find yourself frustrated in life, quit your job and launch your own company.
Books and Resources
- Books:
- Richard Branson Autobiography
- Francois Pinault Autobiography
- Le Monde De La Beaute (Mark Tungate)
- Life and Def (Russell Simmons)
- 48 laws of power (Robert Greene)
Contact
Website: http://www.madlyncazalis.com/