Imagine the type of person that turns a start-up business in to a billion-dollar enterprise. The image that springs to people’s minds is usually a pale intelligent college drop-out that has a strong aversion to sports, sort of like the Bill gates, Steve jobs type. Blockbuster star Jessica Alba is rarely the person that comes to mind.
According to Forbes survey 90 percent of start-ups fail to make a profit, as a result of poor management, product vision, marketing or a combination of the above. Jessica Alba’s cofounded startup “The Honest Company” is part of the rare 10 percent.
After an allergic reaction from a laundry detergent, she realized that how often people were exposed to toxic chemical in common everyday products. Like any successful entrepreneur, Jessica Alba had a clear product vision from the very beginning. She wanted to create products, that come directly in contact with the skin, such as shampoo or diapers, without the use of synthetic chemicals. She also wanted to do it in a way that was not only affordable but also green, partnering with Christopher Gavigan, an environmental scientist, the company is able to manufacture products that are biodegradable.
Alba recognized the market potential from an increasingly health conscious consumer base. Her brand name “Honest” is a reflection of her ambition to stay true to her product vision and gain consumer trust.
Some other notable strategy that she employs in the company is its reliance in digital marketing. Alba identified the online purchasing habits of modern consumers and took full advantage of it. Using her fame to her advantage, Alba was able to promote her product on social media sites giving her company a head start in publicity. Her website Honest.com also allows online purchasing and subscriptions that will deliver products monthly conveniently to the doorsteps of its customers.
While Alba enjoys her tremendous success in her new company, the road to success did not always go so smoothly. She was told countless times that her business would fail or that her subscription plan model was “crazy”, and at times it was hard for people to take her opinions and professionalism seriously. In business meetings, people would assume “She endorsed the brand rather than being its proud owner.” After all cleaning products and diapers are not very sexy.
Just like the super spy agent Marissa Wilson, Jessica alba is cunning in real life too. Less than 3 percent of venture capital funded startups have been founded by women. Her newfound status as a successful entrepreneur defies gender stereotypes in business, On Mia Carnie’s blog, she outlines the issue of the gender pay gap that still exists in modern day america.We have come a long way in our improvement of women rights, however, there still exists soft barriers for women who strive to become leader in the business field.
http://www.businessnewsdaily.com/5268-women-entrepreneur-challenges.html
http://www.forbes.com/sites/neilpatel/2015/01/16/90-of-startups-will-fail-heres-what-you-need-to-know-about-the-10/#2c787add55e1
http://www.warc.com/LatestNews/News/The_Honest_Companys_evolving_strategy.news?ID=36964
http://www.warc.com/Content/ContentViewer.aspx?MasterContentRef=cd9e0dec-7a34-4c54-bc3f-58e499409e5c&CID=A108040&PUB=EVENT-REPORTS
https://www.cleverism.com/how-jessica-alba-became-entrepreneur-started-company/
http://www.inc.com/lindsay-blakely/why-honest-company-struggling-defend-itself.html
