Prompt Cast
Mariam Naficy's Entrepreneurial Journey from Cosmetics to Stationery
TLDR Mariam Naficy went from fleeing Iran to becoming a successful entrepreneur, starting with an online cosmetics company and later transitioning to a unique stationery business model that focused on crowdsourcing and high-end European designs. Jaju, a pierogi business started by two sisters, is also highlighted in the podcast, showcasing their journey from a family recipe to opening their first storefront.
Timestamped Summary
00:00
Business travelers are finding that mixing leisure with work trips keeps them energized, as highlighted by the benefits of the Delta SkyMiles Platinum Business American Express card and Viator's travel experiences.
05:22
Miriam Naficy, despite not intending to become an entrepreneur, had a challenging journey from fleeing Iran to working as a financial analyst before eventually finding her way to business school and entrepreneurship.
10:38
Mariam Naficy's entrepreneurial journey began during her time at business school, where she published a successful book and later started an online cosmetics company with a friend.
14:55
In 1998, Mariam Naficy and her friend Varsha started an online cosmetic store, pioneering the concept of selling cosmetics online when no one else was doing it.
19:44
Mariam Naficy launched Eve.com in 1999, quickly gaining massive press coverage and $10 million in sales in the first year, leading to a successful sale of the company for $110 million in 2000.
25:12
Mariam Naficy decided to start a Stationery retail business with a twist, incorporating design competitions and crowdsourcing to offer unique products.
30:19
Mariam Naficy raised a significant angel round of funding to launch Minted, an online stationary business that initially faced challenges with sales and negative press.
35:03
Minted launched with a small collection of crowd-sourced save the date cards that broke traditional design barriers, leading to slow initial sales and the need for venture capital funding to sustain the business.
39:50
Minted transitioned to a 100% crowdsourced model after a successful holiday card launch, despite initial pushback from investors and ethical concerns about dropping other stationary brands.
44:32
Minted shifted to a crowdsourced model, distinguishing itself from competitors by focusing on high-end European stationery and creating a platform for a diverse creative community to be discovered.
50:12
Two sisters from Lynn, Massachusetts, started a pierogi business called Jaju, inspired by their family recipe and are expanding to open their first storefront in Somerville, Massachusetts.
54:58
Check out the How I Built This podcast page for more information on Jaju pierogies and to share your own entrepreneurial story.
Categories:
Business
