Dialogue with Olivia Chan
About Olivia Chan
After Olivia graduated from HKU, she equipped herself in the beauty and marketing scene. Recently she founded BeautyFact, a startup focusing on clean and sustainable beauty. The startup offers a mobile app for users to check their beauty products regarding the cleanness and sustainability information of the beauty brands.
Tell us more about Beautyfact’s business model
Our startup's business model is based on providing users with a mobile app that helps them make more informed choices about the beauty products they use. The app offers a database of beauty brands and their cleanness and sustainability ratings, allowing users to quickly and easily check the credentials of different products. We generate revenue by partnering with beauty brands and charging them to be included in the app's database. In addition, we offer premium features and content for a subscription fee to users who want more in-depth information and analysis about the products they use. Overall, our business model is focused on providing a valuable resource to consumers while generating revenue from partnerships and subscriptions.
Was the startup your first job? What were the advantages and disadvantages of starting your wellness start-up at such a young age?
No, the startup was not my first job. Prior to founding the startup, I worked as a beauty editor, a marketing manager at a marketing agency, and a marketing manager at a listed company specialising in WiFi gadgets.
As for the advantages and disadvantages of starting a wellness startup at a young age, there are certainly pros and cons. On one hand, being young can bring a lot of energy and enthusiasm to the project, as well as a willingness to take risks and try new things. Additionally, younger entrepreneurs may have more time to devote to their startup and be more adaptable to changes in the market.
On the other hand, there may be certain disadvantages to start a business at a young age, such as a lack of experience in certain areas, less access to capital and resources, and a potentially more limited network. However, I believe that with hard work, determination, and a willingness to learn and grow, young entrepreneurs can overcome these challenges and achieve success.
As a female wellpreneur, what were the challenges you faced?
As a female wellpreneur, I have faced a number of challenges throughout my career. One of the main challenges has been breaking into a male-dominated industry, which can be difficult due to biases and gender stereotypes. Additionally, raising capital and securing funding can be more challenging for female entrepreneurs, as there is often a bias towards male founders in the investment community.
However, I believe that these challenges can be overcome with hard work, determination, and a strong support network. By surrounding myself with other female entrepreneurs and seeking out mentorship and guidance, I have been able to navigate these challenges and achieve success in my career. I also believe that there is a growing recognition of the importance of diversity and inclusivity in entrepreneurship, which is paving the way for more opportunities for women and other underrepresented groups in the industry.
What is clean beauty? Why is it so hard to define?
Clean beauty is a term used to describe beauty products that are made with non-toxic, environmentally friendly, and sustainable ingredients. The goal of clean beauty is to create products that are free from harmful chemicals and promote overall health and well-being.
One reason why clean beauty can be difficult to define is that there is no universally agreed-upon definition or set of standards for what constitutes a clean beauty product. Some organisations have established their own criteria for what they consider to be clean beauty, such as avoiding certain ingredients or using sustainable packaging. However, there is no regulatory body overseeing the industry, so companies are free to use the term "clean beauty" in a variety of ways.
Additionally, some critics argue that the term "clean beauty" can be misleading or oversimplified, as it implies that other beauty products are "dirty" or harmful, which may not always be the case. Nonetheless, the trend towards clean beauty is growing in popularity as consumers become more aware of the potential health and environmental impacts of traditional beauty products, and there is a growing demand for products that align with consumers' values and beliefs.
Can you let us in on your favourite natural or clean beauty tips, tricks and secrets?
Read labels: One of the most important things you can do when selecting clean beauty products is to read the labels and understand the ingredients. Look for products that are free from harsh chemicals, synthetic fragrances, and other potentially harmful ingredients.
Go fragrance-free: Synthetic fragrances are a common source of irritation for many people, and can also contain harmful chemicals. Look for fragrance-free or naturally scented products instead.
Use natural oils: Natural oils, such as coconut oil or argan oil, can be great alternatives to traditional moisturizers or serums. They are often free from harmful chemicals and can be incredibly nourishing for the skin.
Choose reusable packaging: Look for products that come in reusable or sustainable packaging, such as glass jars or refillable containers. This can help reduce waste and minimize your environmental impact.
If you were to give 3 pieces of advice to new wellness start-ups, what would they be?
Understand your target audience: To build a successful wellness start-up, it's essential to have a deep understanding of your target audience and their needs. Conduct market research, gather feedback from potential customers, and stay up-to-date on trends in the industry to ensure that you are providing products or services that truly meet their needs.
Build a strong team: Starting a business can be challenging, so it's important to surround yourself with a team of talented and passionate individuals who share your vision and can help you achieve your goals. Hire people with a diverse range of skills and experiences, and foster a collaborative and supportive work environment.
Stay adaptable and open to feedback: The wellness industry is constantly evolving, so it's important to remain adaptable and open to feedback from customers, industry experts, and other stakeholders. Be willing to make changes and pivot your strategy as needed to stay ahead of the curve and meet the changing needs of your audience.
