Page 14
Georgia Clarke
WOTC Magazine
From writing about fashion and beauty products in Seventeen magazine to owning the million-dollar beauty empire recommended by dermatologists and plastic surgeons. With skincare, and make-up brand NIP+FAB also under her belt, WOTC spoke with ‘Mrs Rodial’ herself about leadership, being bold and the beauty industry.
“You are not born an entrepreneur,” Hatzistefanis boldly states. With both of her parents being teachers, the Greek born beauty leader, didn’t know she had any business acumen. “I definitely wasn’t raised in a family that was involved or talked business in any way,” she tells WOTC. Even as she worked for Seventeen magazine as a freelance writer on the side of attending university in Athens, Greece, Hatzisefanis had no real idea what she wanted to do with her life. She admits just how indispensable her time at Seventeen magazine was. She considers her experience there as the ‘training ground’ she needed to launch her own brand – though she didn’t realise it at the time.
It was the simple yet bold decision that Hatzistefanis made during a difficult time that allowed Rodial to be seen as the trusted authority it is today. Having launched Rodial in the US, she explains that her decision to leave Greece and study business in New York was one led by a friend who had decided to apply to a college there. Though Hatzistefanis was intrigued by the subject, she didn’t have a plan. Upon graduating and now holding two degrees, she went into banking – A field that she tells WOTC that she always knew her heart wasn’t in. “It was perfect to pay my student loans,” she exclaims. Two years into her position, Hatzistefanis found herself in the company’s boardroom being fired – an experience she described as one that was devastating at the time but the best thing that could have ever happened to her. “It made me realise what my passion was, and that’s when I decided to launch Rodial,” she finished.
“I definitely wasn’t raised in a family that was involved or talked business in any way,”
“I was young, and I was always a risk taker” Hatzistefanis exclaimed after being asked what made her take the leap to launch Rodial. After being fired, she took a couple of months away to digest what had happened which inevitably led to the beginning of her research into the beauty industry. “I went to trade shows, visited labs & factories, talked to people from the industry. I got all the resources I needed to launch my business but was missing the funding. I put together a few ideas of my vision for a PowerPoint presentation and connected with 20 investors. I emailed them asking for a meeting.” She heard back from 8 of these investors, got meetings with four, however in the end received zero investment. “I was devastated with this setback but decided to launch really small from a back room at home with some savings from my days in banking. The first years I was doing everything myself, from going to the factories, packing the products to going to the stores to sell them. I was a one-woman show.”
In the beginning of developing her business, mentorship was not something Hatzistefanis had access to and she often found herself having to figure out how to run her business alone. She advises young entrepreneurs wanting to secure investment for their start up to always have a ‘plan b’ in order to achieve their dreams. After not receiving the investment she had anticipated, she was overwhelmed but still went ahead self-funded. “I know people that take a second job while building their business.” Hatzistefanis explains how difficult it is now to acquire investors, however, she believes that if you are really passionate about your idea, you have to put your own time and resources into funding it.
Hatzistefanis’s leadership style is one where she shares the vision of what the business is trying to achieve and through this, she empowers her staff to run their department as if it was their own business. “I don’t micromanage, I like to leave my teams liberty to manager their day, as long as we are all clear on the vision and the expected results.” How she has built her core team has changed over the years. “When I first started, I needed people with tons of energy and enthusiasm who were able to do a lot of different things for the business, so I was looking for enthusiastic multi-taskers. As the business has grown, we need people to put structures in place and help the business move to the next level.” Maria, who never had the experience of running any sort of business prior to starting Rodial, is still learning every single day. “When I interview, I always look for people who are good in their field that I can also learn from them.”
“I don’t micromanage, I like to leave my teams liberty to manager their day, as long as we are all clear on the vision and the expected results.”
In business, disappointment is the one factor that constantly remains. Hatzistefanis tells WOTC that it is something she is getting better at with time. “I remember when I started, every small disappointment was a big deal. I have a chapter in my second book ‘How To Make It Happen’, which describes the three stages of disappointment. The first stage is denial, the second is acceptance and the third is action. The key thing is to not have a knee jerk reaction when you get disappointed, take the first 48 hours to digest it, accept it and then follow a different course of action. Some of the most creative ideas I had were on the back of a disappointment.”
Hatzistefanis’ newest baby NIP+FAB, she launched 10 years ago after realising there was a gap in the market. She targeted the younger customer in their teens and early twenties. Rodial was all about targeted treatments to specific skin concerns and their customers were late twenties to their fifties. “We wanted to offer a similar concept for a younger audience addressing their needs for anti-breakout formulas and targeted skincare for the millennial age group. The formulas are simpler, the packaging is clean and minimal, and the price points are affordable. It was a risk, but I really felt the time was right for such a brand,” she explains.
We talked about books Hatzistefanis believes entrepreneurs should be reading, is it any wonder that she plugged herself? “I couldn’t find a book that I could relate to so, that’s why I wrote my book How To Be An Overnight Success to guide entrepreneurs into this journey.” The message behind her ‘how to’ mastermind is not about the length of time it takes because she certainly wasn’t an overnight success having been in the industry for 18 years – the message is simply that you can be successful. “You can start and grow your business, but it takes time, challenges and a lot of disappointment along the way.” The global beauty leader explains how honest she is in her book about her setbacks in order to show others that whilst it isn’t an easy ride, you can get there in the end.
“I still live and breathe my business, so I can’t be away for too long.”
Hatzistefanis generally takes only a few days of holidays a couple times a year. “I still live and breathe my business, so I can’t be away for too long.” She likes to wake up early every morning, between 5.30 and 6am which gives herself a couple of hours to get inspired before starting her day. During this time, the beauty pioneer mediates, exercises, browses social media or Pinterest for inspiration. “It’s my personal time where I can do anything that I feel like doing and start my day with a good mood.”
As we spoke about COVID and the future of the beauty industry, Hatzistefanis commented “During lockdown, while the stores were closed, we switched our efforts to online and we are a lot more active on social media. This has really worked for us, and I look forward to seeing how this strategy will evolve as we are coming out of lockdown. Beauty is a resilient industry and you can buy a beauty product that will make you feel good about yourself.”
