Things to read
We bring you Another Story to get inspired. No matter what, we all have dull days. It’s always okay to read about people and their story, struggles, achievements to get going. If they can why can’t you! Have you checked other stories to inspire so far? If not then do read after this one!
Do you know Jessica Alba? her role on the show Dark Angel or anyone of her Hollywood hits?
Why? I am Talking about a successful Hollywood actress. Well, Jessica Alba’s greatest success
arguably has nothing to do with acting. Yes, she’s gorgeous and Extremely talented, her movies can be fun to watch but she’s also a savoir-faire businesswoman. Jessica Alba’s newest venture is booming to reach a greater level of financial success than most actors ever dream of. Believe it or not, it all started with an ad shoot and ended with a billion-dollar business empire. And we are going to tell you that story today. Let us begin with some background who is Jessica Alba?
Jessica Alba is best known as an actress who appeared on the TV show Dark angel and several
Hollywood movies including Sin City, Little Fockers, and mechanic resurrection. Although she has had a successful acting career, she’s been involved in some flops – and won a Razzie award for the Worst Supporting Actress in 2011. Still, she continues to appear in films occasionally. She focuses most of her time and efforts on her venture called The Honest Company which specializes in non-toxic organic products. She also wrote a book in 2013 called The Honest Life which focuses on how she removed toxins from her life and her family. She is co-starring in the LA’s finest TV show which debuted in 2019.
Alba’s been named by Forbes as one of America’s richest self-made women. Let’s go back to the start,
Jessica Alba (Source – TMZ)
Jessica Alba was a hit in Hollywood with her three films releasing that year and that’s when she decided to get engaged to Cash warren. Soon they were pregnant with their first daughter. It was an exciting time for her and the last thing that Jessica was thinking about was starting her own business. Jessica’s friends and family gave her a baby shower and her mother recommended that she should wash her new baby’s clothes with a specific detergent meant for infants. When Alba followed her mother’s advice she broke out in a rash from the detergent. This gave her flashbacks of when she was a child and had sensitive skin reactions to everything.
She didn’t want her baby to have the same experience, so she went into new mom mode and began googling the contents of the detergent. Then expanded her search to the contents of everything in her bathroom and under her kitchen sink.
What she found was that every product contained chemicals that could be potentially harmful. She also found out different toxins that could legally be named simply as fragrances leaving consumers unaware of what exactly they were handling. She went on a hunt for household and baby products that were organic and eco-friendly but she soon found out that such products were overpriced and lacked attractive designs. A billion-dollar idea she then tried making her own organic products at home. But the results were less than satisfactory.
Now frustrated and still anxious she sought out Christopher Gavin, who was the leader of a non-profit called “healthy child healthy world”. She asked him for advice on what she should buy? he told her that most of the organic and eco-friendly companies focused on certain product categories and there was no one-stop-shop for safe and non-toxic goods. With this, one conversation the idea for a new company was born.
Christopher and Jessica began to have planning sessions. They Spoke about logistics and developed a business plan. Jessica soon had a clearer picture of what she wanted her company to be. The vision throughout Jessica’s career she was consistently underestimated as an actress. But that’s what drove her to work even harder. She knew that starting a new venture would open her up to criticism. This made her want to succeed that much more. Ultimately her vision was to offer people safe and effective products that are also affordable and beautifully designed. This was definitely easier said than done.
The new mother had developed a full business plan and a 50 slide PowerPoint for potential investors. Brian Lee the creator of Legal Zoom and Shoe Dazzle was one of the first to take a look at her Presentation. He quickly passed on the opportunity but wished her luck while she struggled to launch her company. She filmed three major movies in 2009, by the time 2011 came around she was pregnant with her second child and still hadn’t gotten her company off the ground.
She had made it her mission to become an expert on consumer products and even lobbied before Congress for safe chemicals. In the meantime, multiple potential investors fell through but Alba was undeterred saying that actresses are used to rejections. Alba said she dealt with about three years of condescending Pat’s on the back and people telling her she should just do endorsements before anyone took her seriously. Though when meanwhile Brian Lee was having a change of heart, his experience of trying to find safe products for his small child made him realize there was indeed a gap in the market.
He invited Jessica back to give another presentation two years after their last meeting. She had solidified her business plan and come up with a name that was an honest company.
Jessica Alba – (Source – USAToday)
Brian was on board, he brought in another investor named Shawn Kane. With an initial investment of 6 million dollars, Christopher Gavin also remained as a partner as well they initially pitched the company as a subscription service for cute natural diapers. They raised 27 million dollars in capital in 2013. The company had crossed 50 million dollars in sales. After Alba and the other co-founders proved the diaper service would be successful, they raised an additional 127 million dollars in funding in 2014 to expand across different product categories. The success of the company was bolstered by Alba’s celebrity status and more than 5 million Instagram followers. In 2014 the company had 170 million dollars in sales and was growing quickly.
Jessica Alba – Billion-dollar Trajectory
Although Jessica Alba initially planned to keep the business online. Product demand soon led to wholesale agreements with Nordstrom Whole Foods Target and several other stores. In 2016 another round of funding raised an additional 100 million dollars at a 1.7 billion dollar valuation. Revenues in 2016 was a total of 250 million dollars whereas 2017 was a tough year for the company with several recalls and two settled lawsuits. The valuation dipped just below 1 billion dollars. They do manage to receive another 200 million dollar investment in 2018.
It did help the company expand into Europe. Jessica herself owns between 15 and 20 per cent of the company. In 2015 Forbes listed her net worth at 200 million dollars. The very next year Forbes reported her net worth to be at 340 million dollars. Now with her company expanding, sales increasing and a potential IPO in the future. She’s on track to become a billionaire in the next few years.
Jessica Alba has said that 1 billion feels like a small number for the opportunity of what’s possible.
Jessica Alba – The lesson we can learn from her story:
Well, many lessons might be drawn from Alba’s story of success. Jessica was accustomed to being underestimated and seen as simply another pretty face. For years, she bought into the thought that
she wasn’t sensible. Before she learned to trust herself and embrace her true potential. The critics were never suppressed. However, her reaction to them modified, she learned to achieve motivation from people who aforementioned she could not succeed and push that a lot tougher. You are absolute to have a minimum of one critic attempting to carry you back. Whether or not they succeed can rely entirely on whether or not you permit it to happen.
Jessica Alba – The quote
While researching this story we tend to chance on an unbelievable quote from Jessica we’d love to share with you. And it goes like this:
“All the rejection that I actually have been through solely created ME stronger, And it’s a part of being a bourgeois. You quite need to take the child’s gloves off and allow them to feel it. As a result of it isn’t reaching to be the primary time that someone’s reaching to say “No” or shut the door on your face. You’re reaching to figure out a way to burst through it.”
The Robust Take: You’ll face rejections. Bear in mind it is solely a short-lived Setback! All you have got to try and do is locate the simplest way to burst through those closed doors.