Podcast Summary: Episode 552 - She Went From $0 to $15M Selling Eyeliner | Iris Smit

Introduction

In Episode 552 of The Foundr Podcast with Nathan Chan, host Nathan Chan sits down with Iris Smit, the dynamic founder behind Quick Flick, a brand that skyrocketed from $0 to $15 million by revolutionizing the beauty industry with innovative eyeliner products. This in-depth conversation delves into Iris's entrepreneurial journey, highlighting her challenges, triumphs, and the strategic decisions that propelled her business to remarkable heights.

Iris's Journey: From Domestic Violence to Entrepreneurship

Iris opens up about her tumultuous past, explaining how her early life experiences shaped her drive and resilience. Growing up in a household plagued by domestic violence, Iris often felt powerless and struggled with self-worth. She shares, “I was growing up, I had always felt like everything had been taken away from me. I wasn't worthy of anything...” (00:00). These hardships fueled her determination to create something of her own, leading her into the world of entrepreneurship as a means of reclaiming her identity and gaining ownership over her life.

Launching Quick Flick: Inspiration and Process

The inception of Quick Flick traces back to 2017 during Iris's final year studying architecture. Combining her passion for makeup and design, Iris identified a gap in the market for an easy-to-use winged eyeliner application tool. Without prior experience in entrepreneurship, she took a hands-on approach, leveraging her architectural skills to design the product using AutoCAD. She recounts, “I couldn't find [an easy eyeliner tool], so I ended up opening up my AutoCAD program... designed everything, the packaging, built the website...” (01:15). In just six to eight weeks, Iris launched her brand, driven by genuine enthusiasm and a clear vision.

Growth and Shark Tank Experience

Initially, Quick Flick saw modest sales, primarily through friends and family. However, the tide turned when key influencers began featuring her products. A pivotal moment came when Huda Kattan, founder of Huda Beauty, showcased Quick Flick to her massive following, leading to a surge in sales. Iris shares, “I did a false lash application about two years later... The influencer space was just completely different...” (05:01). This exposure caught the attention of Shark Tank producers, leading to her appearance on the show in February 2018. Despite receiving a lucrative offer of $300,000 for her business, Iris prudently declined, sensing that the deal no longer aligned with her company's evolved valuation and direction. She reflects, “When you don't listen to that gut feeling, like I've learned since then, the universe bitch slaps you and comes back to bite you.” (13:59).

Overcoming Rock Bottom and Rebuilding

Despite Quick Flick's outward success, Iris reveals a darker period where personal struggles led her to hit rock bottom. The pressure to achieve constant milestones for happiness proved unsustainable. She candidly states, “I just wish there was a reset button on my life...” (15:19). This pivotal moment drove her to seek intensive therapy, which transformed her personal outlook and, consequently, her approach to business. Iris emphasizes the importance of mental health, noting how therapy enabled her to realign her business with her newfound mindset, leading to a complete restructuring of team dynamics and operational strategies (17:43).

Scaling and Navigating Challenges

Post-recovery, Iris successfully rebuilt Quick Flick, adopting a more sustainable and mentally healthy approach to growth. The onset of COVID-19 acted as an unexpected catalyst, particularly for her lash adhesive product, which thrived as salons closed and consumers sought at-home beauty solutions. Additionally, she launched the Beauty Fridge in late 2019, another innovative product that addressed consumer needs for home organization during lockdowns. However, balancing multiple ventures required strategic prioritization, eventually leading Iris to focus primarily on Quick Flick while sidelining Beauty Fridge (20:25).

Marketing Strategy and Founder-Led Branding

A cornerstone of Quick Flick's success lies in Iris's authentic, founder-led marketing strategy. By sharing behind-the-scenes content and actively involving her community in product development, Iris fosters a deep connection with her audience. She explains, “I started doing that before a lot of people were doing that... involving our community” (24:11). This approach not only builds trust but also leverages free marketing through storytelling and genuine engagement. Iris highlights the effectiveness of visual hooks in marketing, such as demonstrating problem-solving scenarios in short, impactful videos, which resonate well on platforms like TikTok and Instagram.

Product Development and Innovation

Iris attributes Quick Flick's ability to consistently launch winning products to a keen focus on customer feedback and market trends. By actively listening to her customers' pain points, Iris identifies opportunities for innovation. For instance, the clear sunscreen spray was developed in response to consumer frustration with white casts from traditional sunscreens, combined with a desire for convenience and aesthetic appeal. She shares, “I listen to what customers are saying... how am I going to market this as I'm designing the product” (31:53). This holistic approach ensures that each product not only solves a problem but is also visually appealing and market-ready from the outset.

Future Vision and Advice

Looking ahead, Iris aims to continue expanding Quick Flick by exploring new product categories such as hair care, driven by ongoing customer demand. She remains passionate about revolutionizing sun care, particularly due to rising skin cancer rates in Australia. Her overarching vision is to maintain innovation while staying true to her core values and vision. Iris advises aspiring entrepreneurs to trust their inner voice and remain flexible in their approaches, emphasizing the importance of aligning business decisions with personal values and avoiding undue influence from external opinions. “Don't feel like you have to subscribe to one way of doing things... What do you truly want?” (48:05).

Notable Quotes

• Iris Smit (00:00): “I think when you don't listen to that gut feeling, like I've learned since then, the universe bitch slaps you and comes back to bite you.”
• Iris Smit (13:59): “Just trust your own inner knowing and where you want to take the business.”
• Iris Smit (24:11): “Creating a business is interesting. There's so much you can show because not everyone is starting a business.”
• Iris Smit (31:53): “We create a problem-solving beauty product that hooks people in with visual solutions.”
• Iris Smit (48:05): “Don't feel like you have to subscribe to one way of doing things. What do you truly want?”

Conclusion

Iris Smit’s story is a testament to resilience, innovation, and the power of authentic leadership. From overcoming personal adversities to building a multimillion-dollar brand, her journey offers invaluable lessons for entrepreneurs. By prioritizing mental health, embracing innovative marketing strategies, and staying attuned to customer needs, Iris has positioned Quick Flick as a standout player in the competitive beauty industry. Her insights underscore the importance of listening to one’s inner voice and remaining adaptable in the face of challenges, providing inspiration and actionable advice for aspiring founders.

Note: Timestamps mentioned in the quotes correspond to their appearance in the transcript provided.