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Pure Ingredients, Big Impact with Richard Kostick

In this episode of Meet the Expert, Elliot Kallen interviews Rick Kostick, CEO of 100% Pure, a leading natural beauty brand. They discuss Rick’s entrepreneurial journey, the challenges of building a vegan beauty brand, and how he navigated through key business pivots, including the shift to direct-to-consumer sales during COVID-19. Discover insights on core competencies, sustainability, and leadership in the beauty industry.

Watch the Video Here

Key Takeaways: Entrepreneurship, Core Competencies, and Vegan Beauty

  • Core Competencies Matter: Focus on what your company does best.
  • The Power of Direct-to-Consumer Sales: How 100% Pure pivoted during COVID-19.
  • Sustainability and Transparency: Consumers are demanding more ethical practices.
  • Leadership Evolution: Rick shares how his leadership style adapted over time.

Explore 100% Pure’s vegan and cruelty-free products.


Pure Ingredients, Big Impact With Richard Kostick &Raquo; Mte Elliot Quote 02 1024X1024 1

Full Podcast Transcript: Rick Kostick on Growing 100% Pure into a Global Vegan Beauty Brand

Elliot Kallen: Good morning, good afternoon, everyone. I’m Elliot Kallen, CEO of Prosperity Financial Group, and welcome to another episode of Meet the Expert. Today, I’m excited to introduce Rick Kostick, CEO of 100% Pure, a leader in the natural and vegan beauty industry. Rick has built an incredible company that stands for purity and sustainability. We’ll be diving into his journey, the challenges of entrepreneurship, and his insights on leading a growing brand.

Read more…

00:00:18:06 – 00:00:46:03 Elliot Well, good morning. Good afternoon, everyone. I’m Eliot Kaplan, and welcome to another exciting episode of Media Expert Reality Kaplan. Today it’s an entrepreneurs dream. We’re going to talk about one entrepreneur’s journey in a cosmetics industry, particularly the vegan cosmetics industry, where he is learning that leadership and core competencies are so important and ever changing market. And that market is dominated by multibillion dollar global giants.

00:00:46:09 – 00:01:12:14 Elliot As he begins to chip away at it and experience 2008 and COVID and Retail and direct consumer. So for you entrepreneurs that listen to this and want to get your product and service to market in the most office, most efficient way they can. You’re going to love this episode. If you need to reach me, it’s Elliot Elliot at Prosperity Financial Group, and it’s 925314 and 503.

00:01:12:16 – 00:01:36:05 Elliot So let’s get started. Well, good morning and good afternoon, everyone. I’m Elliot Carolyn, CEO, Prospero Financial Group. Welcome to another podcast, the media expert with all eight Caroline. Again, we’re going to do something different. If you know people or entrepreneurs, cause you know, people that love to start and love to build and at the same time they want to save the planet just a little bit in their own world.

00:01:36:07 – 00:01:56:09 Elliot That’s what we’re going to be talking about today. We’re going to be talking about with Rick Kostek, who is the founder of Company of the Year, about Purity Cosmetics in just a moment. And his journey of success as an entrepreneur. And he’s got his own trials and tribulations because I want you to know that for most entrepreneurs, it’s not a straight line to success.

00:01:56:11 – 00:02:15:04 Elliot It’s not more Zuckerberg. It’s not somebody that says, I’m going to start something in three years from now. I’ll take it public, and in five years I’m going to retire a billionaire. That’s just not the world of most entrepreneurs in this country. I would love to have that happen to me. I can guarantee you my guests would love to have that happen to him.

00:02:15:06 – 00:02:33:12 Elliot But for if you’re listening this, then you know that you are working sometimes 80 hours a week and feel like you’re sometimes not even getting paid. So let me welcome Rick to our show and we’re going to go right into the meat, potatoes of what we’re doing here and what is core competency mean. And we’ll talk about that a little later in the show.

00:02:33:18 – 00:02:44:14 Elliot So if you were to understand for your own company that you’re now doing 11 things and you’ve gotten off track of what your core competency is, we want to talk about that as well. So, Rick, welcome to the show.

00:02:44:16 – 00:02:46:17 Richard Thank you, Eliot. Pleasure to be here.

00:02:46:19 – 00:03:11:21 Elliot Great. Let me read you what what he is real fast, his background. He is one of the early That was early. The higher achievers are natural shampoos, natural products, purity, cosmetics. He’s CEO of that company. He’s had as high as 200 employees working for him over time. pre-COVID there were 60 day, he said stores, retail stores. Now they’re in direct sales.

00:03:12:03 – 00:03:42:04 Elliot He’s trying to both establish product lines in brand names like Nordstrom’s is for us. He said that he’s learned that sometimes that sounds really good to have retail shelf space. And the reality is everybody’s making Money. But you. He’s learning. And that’s kind of the Walmart model, by the way. Walmart always makes money, not necessarily the vendors of Walmart, but he’s learned and he’s also been one of those people from the very early part of his career that has decided that 100% pure, 100% vegan.

00:03:42:10 – 00:04:16:16 Elliot We can talk about the difference of vegan and vegetarian and why that’s important. So I want to ask you this right off the bat, because you talk about purity. It’s one of your passions. It’s wonderful that it’s your passion. You know, my wife uses L’Oreal. My wife uses Estee Lauder. I love the way my wife look. Why should she considered consider your products the purity of your products when she’s bombarded with $10 billion of advertising on why she needs to be a Chanel girl.

00:04:16:18 – 00:04:38:01 Richard Couple answers to that. I have to. Two real key points to answer that. One is Innovation and the other is you really want to be careful what you put on your body, just like you’re careful what you put in your body. It matters. Makes a difference. It brings me back. I remember when I was younger, I would ask my parents to please eat only organic, please.

00:04:38:01 – 00:05:00:13 Richard It’s healthier for you, better for you. And they would laugh at me and they said Yeah haha why would I pay more for that? There’s no difference. And then now. And this time I see them buying more organic because they actually the science is there and the data is there. The same thing with cosmetics and skincare and 20 years ago when I started 100% Pure is our flagship brand.

00:05:00:15 – 00:05:25:09 Richard It was because on the market there was really nothing that performed that was really healthy for you and tech and had really good ingredients, ingredients that weren’t harmful, that weren’t going to cause long term effects in your body, which you’re seeing in studies like look at the roundup case. You know, there’s cases now coming out where chemicals that are in the environment and products that are sold are not very good for you.

00:05:25:13 – 00:05:37:23 Richard So we wanted an alternative. We found our niche. At the time, there wasn’t any real products that could perform that were natural and healthy for you. And so that gave us some start.

00:05:38:01 – 00:06:05:20 Elliot Great. Well, if you’re listening to this and we’re going to talk about marketing in a moment and core competency and how do you go from stores to direct sales? Because so many entrepreneurs listen to this. But if you’ve got a passion for marketing and getting products to market and understanding them, work, give us a call. We’ll hook you up with people like Rick at 9253148503 or prosperity financial group dot com or Elliot Elliott art at prosperity financial group dot com.

00:06:06:02 – 00:06:29:15 Elliot But we deal with entrepreneurs every day in a world of Finance and financial planning and portfolio planning managing upwards of a half a billion by two companies we’re touching on $1,000,000,000 is $70. That is people like Rick and people like listening to this show like you that says, okay, help me manage my money more effectively so I can do what I do my core competency more effectively because I can’t do all things well.

00:06:29:17 – 00:06:50:12 Elliot So I want to tell you a quick story in that I love your comment that I was out in the western side of the brassica just this past weekend with lots of family. I’ve got a whole bunch of family on my wife’s side that is in the cattle business. They are not farmers, the ranchers on that, and they’re moving about 200 cows a week in and out of that farm.

00:06:50:14 – 00:07:18:12 Elliot If you add that up, that’s 100,000. Actually, that’s 10,000 cows a year that they are fattening up to be. Go on the tables of Wharton’s of Flemings and Ruth Chris and they’re all prime meat and we stopped over at the I don’t want to say their name because I don’t want to have trouble very large meat processing center in western Nebraska where they are doing approximately for killing I don’t want to say butchering processing.

00:07:18:12 – 00:07:45:11 Elliot What’s my I forgot what the new word is Now. The more politically correct, softer word, but they’re processing for food about 4000 cows a week out of this plant. That means that’s a truckload about every 3 minutes of 200 cows. That’s amazing what they’re doing out of that. And I said, well, I get where the meat goes. I get weaving the fat goes, I get the the high goes to tanneries.

00:07:45:13 – 00:08:05:06 Elliot Where’s the blood go. Somebody tell me where the blood goes. And I said, Well, it goes to several places. I said, first, when it goes to cosmetic companies, do blind, do buy animal blood because it makes a good color red and can be used not always used, but can be used. And then the rest of it goes mostly into animal feed.

00:08:05:08 – 00:08:12:13 Elliot So it’s blood and animal or have these kind of animal products being put on my wife’s lipstick.

00:08:12:15 – 00:08:36:18 Richard So, you know, it’s interesting how it is that within the industry there are certain things that are hidden behind the scenes and it tends to be with colorings and also with your fragrances. So things that make you smell, things that make it look good with Colorants, as long as they can get them through the FDA, they get a different name.

00:08:36:21 – 00:09:06:15 Richard They get FDA and see S.O.S. on your label, FDA, and see. So the red color, traditionally the majority of the red comes from insects that crushes insects that make a red color, but it can come from other sources too, like blood. So it could be that your wife is putting blood on her lips and she doesn’t realize it, because I think reading is just as fancy and the product probably doesn’t say beginner or vegetarian because it’s it’s not if it has either the blood or or the insects.

00:09:06:17 – 00:09:33:04 Richard So yeah, and the same thing in fragrances, the fragrance industry was so protected that you could put whatever you wanted inside of fragrance and all you have to do is put on the label fragrance and you have one more protection and an industry called incidental ingredients. So any ingredient you’re using, anyone’s using inside their package could have what the industry deems as incidental or doesn’t contribute to that ingredients function.

00:09:33:10 – 00:09:55:08 Richard You don’t have to declare it. So that’s interesting too. And then they tried to pass regulation to to help make things better. But that’s just created more mess as much as is tried to make things better. Sometimes regulations has its pros and cons, but that’s another topic if you want to dive into it, we could.

00:09:55:10 – 00:10:26:16 Elliot Well, I want to talk about your journey as an entrepreneur because we are tracking somebody, entrepreneurs on this show and if you’re listening to this, share this with an entrepreneur that you know, because they’ll understand that being an entrepreneur sometimes is a journey. And so I want you to talk about a little bit about your journey here as because you created a retail brand, you had retail stores except your traditional now you’re being very nontraditional in that in between there was a crisis, you know, of unbelievable proportion here.

00:10:26:18 – 00:10:29:08 Elliot Tell us a little bit about your journey here there, Rick.

00:10:29:10 – 00:10:51:08 Richard Sure, sure. So I think I was born entrepreneur. Just the gene hit me earlier when I was a kid. I was always trying to make money, do jobs, come up with ideas, sell things. When I was a little kid, I just just enjoyed like seeing money grow and I would keep track of all my expenses on Excel as well.

00:10:51:08 – 00:11:10:15 Richard And I learned about stock Investing early. And I there was a story I read that really inspired me. The richest man in Babylon. And so it was a combination of this entrepreneurial bug and that story. The richest man in Babylon that made me realize this is what I want to do. I want to go up in entrepreneur, do good things for the world and build wealth.

00:11:10:17 – 00:11:38:13 Richard And when I was in college, I was a coder at UC Berkeley, so I built websites at the end of the nineties and I built a website for a salon. The salon owner said teenagers have money but they don’t have products. And I thought, Well, we just built your website. And teenagers are on what we used to call the World Wide Web and we can enable for ecommerce if we can come up with some products.

00:11:38:15 – 00:12:08:17 Richard And so we just, we came up with some products, we raised a little bit of money and we also pitched Sephora and pitched Nordstrom. And when I think about the beginnings of when I started, this company is my second company, I started the one that I ran for 20 years. That first company we sold to a distributor and then I met my current partners and we started 100% Pure in 2004 and we were so brave when we’re so young.

00:12:08:17 – 00:12:18:10 Richard We were just walk into Sephora and say, Oh, who’s the buyer? We’d like to present our products here to Nordstrom. And the thing is, it worked. So you just got to be bold.

00:12:18:12 – 00:12:24:20 Elliot I love that. Now you got caught up with opening retail stores and then COVID hit. Tell us the story.

00:12:24:22 – 00:12:48:22 Richard Yeah. So over over the years, you know, we were primarily due to see we had a big break when we partnered with the Home Shopping Network, QVC back in 2006. Then the first recession hits. So we’ve we’ve gone through a few recessions. And when that first recession hit, they cut out all their smaller brands and kept only their big anchor brands.

00:12:49:00 – 00:13:15:12 Richard So I had all this inventory coming back the way they their business model is they don’t pay for inventory, it’s consignment. So we own the inventory they have. They don’t sell it. It comes back to you if they stop doing business with you, comes back to you. And it’s a huge amount of inventory. And so I thought, you know, I’m just going to dive in to the DTC business and really devote my energy and focus on to direct to consumer and focused on website.

00:13:15:14 – 00:13:39:05 Richard And we built up the website business. Then a few years later in the early teens, it was like really the website. It’s really hard to acquire customers, but we opened a couple stores in 2006. We opened our first store. It’s a Berkeley location and we didn’t we didn’t do it because we thought stores was a good way to do business.

00:13:39:05 – 00:14:04:16 Richard We were just curious and thought, you know, it’d be cool to have a store, right? We were just so young entrepreneurs just thinking, Oh, be cool to do this. We saw a space release called The Landlord and we didn’t have much money, and so we just went to a sign shop, went to Office Depot, bought the cash register at the time she don’t really need anymore and opened up business and it was profitable from the first year.

00:14:04:18 – 00:14:19:21 Richard And then we tried a second one in 2012. I asked my two business partners in 2012, I asked him, I said, Can we do another store? And so we opened our second store in a shopping center called Santana Row in San Jose, and that was 2010.

00:14:19:23 – 00:14:34:03 Elliot And that’s enough for those who don’t know that that’s an upscale shopping area. Santana Row. It’s the kind of stores you’d expect to see Saks Fifth Avenue in a specialty shop. So the people that shop there are expecting to spend more money than would at a normal.

00:14:34:03 – 00:14:55:21 Richard Mall, correct? Correct. And then sometimes you need luck. So sometimes it’s a combination of luck and hard work. And the San Francisco airport authorities walked through our store and they reached out to us and said, Would you open a store at our airport? We had a store applying to the bidding process, but we found out about it and got networked and connected because of that.

00:14:55:23 – 00:15:21:11 Richard And then we opened our third store of the San Francisco Airport in 2012, which was a fantastic store. It did really well and I thought, Wow, stores are easy. You just open them up and it makes pretty much because I had three successes in a row in my local market. And so I thought, you know, I can acquire customers this way to say open 13 more stores in a period of like two years.

00:15:21:13 – 00:15:51:19 Richard And I did them around not just in my home market, but different areas of California, Oregon, Seattle, one on the East Coast, one in Chicago. And they didn’t all work. They worked as a whole pretty much. And it was pretty good for a customer acquisition standpoint. But when COVID hit, it just tore it apart. No one winter stores, you’re paying staff, you’re trying to pay rent, and we had to figure something out to survive and barely made it through, I would say.

00:15:51:23 – 00:15:54:07 Elliot So where are you today? And more in the world of marketing?

00:15:54:09 – 00:16:20:09 Richard Yeah. So during during COVID was a really tough time for us because not only no one visit the stores, but we were selling internationally. One of our biggest markets was I’ll show you, I’ll show you when on lockdown. So it was just it went from from something to nothing overnight. So I went to zero and all the other brick and mortar stores we were selling to cut in half.

00:16:20:11 – 00:16:44:15 Richard So we had some go to zero, some go to 50%. Our online was the only thing that really saved us through that time, and it was relatively flat. Luckily, we qualified as a I forgot the term, but it’s a business that’s allowed to operate during COVID because we did personal care. We provide essential items. We did essential items that people use every day.

00:16:44:15 – 00:17:08:00 Richard So we were able to continue operating, thank goodness, if we weren’t able to I don’t know if we could make it back that and we also had the capacity to make hand sanitizers and large amounts, which I tried to do. But there was a media campaign about some guys hoarding 10,000 units. And so Amazon, Facebook, everyone restricted advertising and there was no way I could sell it.

00:17:08:00 – 00:17:28:10 Richard I it cost us money to make it. I needed to sell. I couldn’t give it out for free. It would cost me money to make it. I didn’t. We were hurting and so that didn’t work. I find it kind of ironic because we tried to do it and we had capacity. We could have made, you know, a quarter million hand sanitizers a month but couldn’t do it.

00:17:28:12 – 00:17:29:20 Richard But we made it through.

00:17:29:22 – 00:17:50:03 Elliot Well, let me ask you a question. I made it through. You’re doing direct to consumer right now, through your through the Internet, which lots of people listening to this are doing that. And again, we’re talking about entrepreneurship at work. Kostek He is the CEO of 100% Pure. It’s cosmetics company that’s vegan. I’d love to know how cosmetic products, vegan versus vegetarian.

00:17:50:05 – 00:18:11:17 Elliot And somewhere along the way here, he explained to me. But and it’s and it’s purity cosmetics. It’s what it is. So for people that that matters too he’s got a great niche in his direct direct somewhere along this journey. And if you need to reach us again it’s Elliot at Prosperity Financial group dot com. Yeah loyalty. We’d love to hear your feedback and loved your comments about that.

00:18:11:17 – 00:18:41:22 Elliot And this is for entrepreneurs. We know that as we build portfolios, we’ve learned over the years, Rick, that our core competency is working with clients and helping them enter and be in Retirement and understand what that means and have a successful retirement because we don’t want them watching 6 hours of TV a day. But it took us a long time to understand our core competency because some people think it’s it’s portfolio building is our core competency.

00:18:42:00 – 00:19:01:07 Elliot Now, there are lots of good performers out there. We learned about that to support group think it’s marketing. There’s a lot of marketing we do, but there are really good marketers out there. We learned that all encompasses this one on one Relationships to develop positive outcomes for our clients, where people don’t understand that if you don’t have the why, you’re not going to figure out the what.

00:19:01:09 – 00:19:13:05 Elliot So what have you learned about core competency? Do you got your core property map, the cosmetics world in the marketing world, in the distribution world, In a website world. What have you learned on the story?

00:19:13:08 – 00:19:45:05 Richard Yeah, so we it’s funny because during COVID we restructured, so we closed the stores. I had to re-engineer the company to reduce expenses to make it through. And some of the decisions we decided to do is to outsource the warehousing because we were warehousing and fulfilling all the orders out in Silicon Valley. We also had manufacturing at that time on a smaller scale, and so when we outsource the warehouse, it was a disaster.

00:19:45:08 – 00:20:11:09 Richard We found out that who we outsource to was not as good at doing it as we were. And it’s ironic because being CEO of the company, I could spend literally 4 hours a week with the warehouse out of my schedule, yet we ran it better than the three partners we had. And part of that was because I had I just had good people that could manage it well.

00:20:11:09 – 00:20:27:00 Richard But also we set a high bar for ourselves, so we thought ourselves we’re not running it well enough and that’s what can do it better. But really it was a core competency. We were really good at fulfilling and it was part of our customer experience and customer service. We would take care of our customers, we would ship right away.

00:20:27:00 – 00:20:50:02 Richard We made sure all the orders were packed with care. Sometimes we put notes in the orders. That was part of our experience. On top of that, the manufacturing of the products we started outsourcing, we outsourced. When we started, we handmade our skin care out of a farmhouse in Napa. That’s how I started with my two partners. So a lot of times your core comes from your founding.

00:20:50:06 – 00:21:13:03 Richard You’ve got to look back to your past. On when you started this company. What did you start with? You know, what worked and what worked was that we handcrafted with passion these products. I was 21 products. Today we have a catalog of 400. And I realized, wow, our manufacturing partners, the quality is is not as good. They take forever to fulfill appeal.

00:21:13:06 – 00:21:32:01 Richard Every time we place a purchase order, it could take six months to It was inconsistent and it was causing major supply chain issues. And that’s when I had the aha moment. You know what? The warehousing. I can’t get back that easy. You know, sometimes you make a decision, you change the company. It’s really hard to go to back.

00:21:32:01 – 00:21:56:01 Richard But the manufacturing, I’m going to lean in because this is truly, truly core to the brand is the quality of ingredients, the quality of the products, and also the supply we were able to consistently supply back then. Even bigger retailers, bigger distributors, and we wouldn’t run out of stock because we manufactured we control it. So that’s how we figured that out.

00:21:56:01 – 00:22:10:06 Richard And now we’re investing into our manufacturers, the manufacture is scaling from almost nothing to a very large business. I would say just because of this shift.

00:22:10:08 – 00:22:17:07 Elliot So is your core competency, as you’ve learned in the distribution side of the business versus the manufacturing side?

00:22:17:12 – 00:22:42:10 Richard So so there’s a few key user. You have a few key points behind the brand or behind a business that’s core. Our core is our product quality and our customer service in the warehousing fulfillment is related to the customer service because because we used to be able to do things in customer care that we can’t do with a three people partner, they just don’t they’re not as responsive, they’re not as fast and they’re not as caring.

00:22:42:11 – 00:23:06:10 Elliot Okay, so your journey, we’re talking word caustic. We’re talking about core competencies, we’re talking about entrepreneurship. We’re going to be talking about leadership at a moment. You’ve got questions about that just as what every entrepreneur goes through are these journeys and, you know, and if you don’t get them right, the jury will be defined for you. If you’re really good at what you do, you’ll be able to define the journey.

00:23:06:12 – 00:23:26:12 Elliot Most of us end up being having it both ways. We have people pigeonhole us and then we have to fit our fight our way out of that to what we think is really good. But your leadership, you are not somebody else but your leadership. As an entrepreneur, Rick, has evolved. That has changed because the situation on the ground demanded it.

00:23:26:14 – 00:23:27:10 Elliot How was it changed?

00:23:27:15 – 00:23:34:20 Richard Yeah, maybe you can refine that question. It changed over time because of the situation changed over time or how the journey changed?

00:23:35:01 – 00:23:52:21 Elliot Well, I think from a leader point of view, Rick, I think you’re talking about I’ve got I had 200 employees that I need to be the leader of now. Got a few less than that right now. I’ve got these retailers that want me to be the leader. Most entrepreneurs are either the best engineer or the best salesperson of the company.

00:23:52:23 – 00:24:14:21 Elliot And the one of the missing link said, I wrote a book called Driven It’s Over My Left Shoulder by Elliot Cowan. It’s Amazon best sellers by Shameless plug talking, but it is about leadership and entrepreneurship and why you have to, as a leader, be the leader, not be the best salesman or the best engineer. That’s important, but you have to be the leader of the organization.

00:24:14:23 – 00:24:19:17 Elliot How’s that journey of you being the leader of your team changed, Evolve?

00:24:19:23 – 00:24:48:15 Richard Yeah, and I think some of that comes down. When you mentioned Medallion, it reminds me of something that I mentor once said, and he said, You need to know your industry better than everyone else. And I won this mentorship because we had like a Shark Tank style industry event at a trade show. And so I got Mark Cuban as my mentor for a year, kind of official, unofficial, but he would give me advice weekly or feedback weekly, I would say.

00:24:48:15 – 00:25:13:10 Richard And it was just really wise. And your industry, if you know your industry really well, you know, the shifts in the industry and you have to adapt along that journey as your industry adapts and as the broader Economy. The broader economy also affects you like events like COVID. And so that’s how the path was. I used to run a company that was, you know, a handful of retail stores.

00:25:13:10 – 00:25:41:15 Richard We had to eight retail stores. We had the fulfillment, we had the manufacturing. I even formed a subsidiary in China. I still have that subsidiary today to do the marketing into that market so we can sell into that market. And that has been, I would say today I did a program at Harvard Business School called Owner President Management Program, and that inspired me to change my leadership style.

00:25:41:17 – 00:26:04:10 Richard And I decided, you know, I’m going to build a high performance global team and I’m going to do this because I was hiring high paid Silicon Valley staff, pre-COVID. They went remote during COVID. It was really hard to bring them back to work. They did not want to come back to work. And it dawned on me, Why am I paying so much for remote start in Silicon Valley?

00:26:04:10 – 00:26:24:05 Richard If I can hire anywhere and people are good all over the place, you know, you can hire from all over the U.S. on site that you build your teams even outside the US, extend them. And that’s what I really focused on as a leader, is building more training programs in the company. So we train future leaders and we look for talent everywhere.

00:26:24:09 – 00:26:28:10 Elliot That’s great. And where do you think your industry is in five years and where are you in that industry?

00:26:28:12 – 00:26:47:18 Richard You know, one thing you always want to think about in any industry you’re in is, is what would be the disruptive Technology that would make your business go bankrupt. And that’s something I really struggle with. With cosmetics. It’s like, what is that technology? So you say five years. I don’t think that technology’s there yet in five years. But eventually we’re going to have to figure that out.

00:26:47:19 – 00:27:09:08 Richard You should always try to figure that out when you’re running your business and then invest in that technology when you do figure it out, because that will be your pivot at the time to survive. But in five years, I do see certain trends in the industry is transparency. People are carrying out a little bit more. I would say a lot more about what’s in their bodies, what they put on their bodies.

00:27:09:08 – 00:27:35:04 Richard It’s way different than 20 years ago. And also sustainability is really key. People are caring more about the earth and that you also operate a business with a purpose. People want to support businesses that exist to make something better, to improve the world. Somehow. They don’t want to invest, they don’t want to support businesses, and employees don’t want to work for businesses just to make the boss richer, more wealthy.

00:27:35:06 – 00:27:38:12 Richard They want to support a business and support people that want to make the world better.

00:27:38:17 – 00:27:58:23 Elliot I think that’s great. Character counts. That’s a great way to end it Here, Rick, is character counts, doesn’t it? So, Rick, if people want to reach out to you, they want to learn more about Purity cosmetics. They want to learn about the difference between what’s being used, the L’Oreal and all those retail store Chanel that spend billions of dollars to get you to buy their product.

00:27:59:01 – 00:28:07:07 Elliot You’re obviously not a fraction of them, and you’re always going to be a fraction of them. In a vegan world of healthiness, how do they reach Rick?

00:28:07:09 – 00:28:30:21 Richard Yeah, they can reach out. LinkedIn is a great way to reach me. Connect with me on LinkedIn is the best. I do check my email you could write to. My email is Richard is my formal name at Purity Cosmetics. Dotcom. Now that will get to me, right? Yeah. Looks through my email so to make it to you first, but I will put I she will forward to me anything that I should put eyes on.

00:28:30:23 – 00:28:58:05 Elliot Well this is the great we’ve been talking with Rick Kostek about the entrepreneurs journey. In his case, it’s about pure products in the cosmetic world that he has experienced a journey that most entrepreneurs experience, which is up, down, sideways and all the other emotions that are wrapped up in that financing and so forth and partner. So if you want to learn more, reach out to Rick and reach out to me at Elliott Elliott at Prospero Financial Group, and we’ll put you in touch with Rick.

00:28:58:05 – 00:28:59:15 Elliot Rick, thank you so much for being on.

00:28:59:21 – 00:29:09:07 Richard Thank you. Elliott. Appreciate it. And also for the brand, just in case anyone wants to check it out, 100% secure. It’s one zero 0% pure dot com. Check out my products.

00:29:09:11 – 00:29:12:19 Elliot Take a look at it. You’re going to look better than me no matter what you put on your face.

00:29:13:01 – 00:29:13:22 Richard Thank you. 00:29:14:00 –

00:29:15:21 Elliot Have a great day, everybody. We’ll see you again soon.

Important Sections:

  • 0:00 – Introduction to Rick Kostick and 100% Pure
  • 5:20 – Challenges of Transitioning from Retail to D2C
  • 10:45 – Leadership and Core Competencies
  • 15:30 – Navigating COVID-19 and the Pivot to E-Commerce
  • 22:00 – Sustainability and Transparency in the Beauty Industry

How 100% Pure Pivoted to Direct-to-Consumer Sales During COVID-19

Rick shares how the COVID-19 pandemic forced 100% Pure to close their retail stores and shift focus to direct-to-consumer (D2C) sales through their website. This pivot helped the brand maintain revenue and improve customer engagement.

Key Points:

  • The decision to close retail stores and focus on e-commerce
  • Challenges faced during the transition
  • How D2C improved customer service and loyalty

Lessons on Core Competencies: What Every Entrepreneur Needs to Know

Pure Ingredients, Big Impact With Richard Kostick &Raquo; Mte Richard Kostick Quote 02 1024X1024 1

Rick highlights the importance of identifying and focusing on core competencies within your business. For 100% Pure, this meant excelling in product quality, customer service, and maintaining control over their manufacturing processes.

Takeaways:

  • Understand what your business does best
  • Don’t outsource key functions unless absolutely necessary
  • Constantly re-evaluate your business strengths as you grow

The Role of Transparency and Sustainability in the Beauty Industry

The beauty industry is evolving, and consumers are more concerned about transparency and sustainability than ever before. Rick discusses how 100% Pure is leading the way with vegan, cruelty-free products and sustainable business practices.

Key Topics:

  • How 100% Pure maintains ethical and transparent sourcing
  • Why sustainability is critical to today’s consumers
  • Steps 100% Pure has taken to reduce its environmental impact

Pure Ingredients, Big Impact With Richard Kostick &Raquo; Mte Richard Kostick Quote 01 1024X1024 1

Contact Rick Kostick and Learn More About 100% Pure

Want to learn more about 100% Pure and their sustainable, vegan beauty products? You can connect with Rick Kostick on LinkedIn or visit the 100% Pure website to explore their full range of products.

For business inquiries, reach out to Rick directly at Richard@puritycosmetics.com.

Conclusion: Stay Connected with Meet the Expert

If you enjoyed this episode of Meet the Expert, don’t forget to share it with your network! You can also subscribe to our podcast for more insightful conversations with industry leaders, entrepreneurs, and experts in business.

For financial advice or to grow your business, reach out to Elliot Kallen at Elliot@prosperityfinancialgroup.com.

The post Pure Ingredients, Big Impact with Richard Kostick appeared first on Prosperity Financial Group | San Ramon, CA.

Elliot Kallen Wealth Manager | Registered Principal

For more than three decades, Elliot has provided customized wealth management solutions for entrepreneurs, business owners, retirees, and millennials.

Elliot and his wife, Tammy, are passionate about giving back to the community through their 501(c)(3) foundation, A Brighter Day. Through his partnership with A Brighter Day Charity, the Kallen family has helped local teens and young adults recognize and access resources to cope with the risks of stress and depression.

He enjoys spending his free time with his family. Some of his hobbies include cooking, wine, golf, travel, and studying history.

He lives in Lafayette, California with his wife, step-daughter, and grandson.

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