ODESHI 009 - How A Former Investment Banker Created A Fast Growing Cosmetics Company with Christian Ngan

0 Flares Twitter 0 Facebook 0 Google+ 0 LinkedIn 0 Email -- Buffer 0 Filament.io 0 Flares ×

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
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