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Building a business from scratch is no easy task. And turning a failing business into a success is downright daunting. Benjamin Smith did just that. Smith is an entrepreneur and the founder of Disco, a skincare brand for men that generates eight figures in annual revenue—but it wasn’t always that way.
After founding Disco, the company was $17K in debt. Once the brand launched, it hardly hit $2.3K in monthly sales—a disappointing response from the market. Smith admits his lack of leadership was a major reason for this. He needed to change the consumer’s perspective and gain sales, but it was a challenge.
Everyone else predicted the brand would fail, but Smith kept his focus and pushed forward. He didn’t quit. Although Disco faced serious issues like poor advertising copy, a disorganized website and a lack of direction, Smith knew he could convince consumers to buy Disco products by being clearer and more direct. Identifying these problems was the first step.
Eventually, Smith realized the execution of his business plan had been rushed and that major research and development were required to better understand his target demographic. After some troubleshooting and streamlining, he pushed forward again. This time, he started solving some of those problems.
By the end of the year, Disco was profitable enough to grow, doing more than $100K in sales. Major debts were settled and the brand’s reputation received a significant boost. Now, Disco has various objectives for the future, most notably to become a leader in the men’s skincare industry. The company is also working toward nine figures in revenue and increasing its market share.
Smith—a keen learner—has incorporated his lessons from all of this into an updated business plan. He believes that if you’re struggling, you’re not alone. Many have faced the same challenges before setting up a solid foundation for their brand or company. And the way Smith has continued to improve his business plan has been the major reason behind his and Disco’s success.
In 2022, Smith was featured by Goldman Sachs on its list of 100 Most Intriguing Entrepreneurs and on the Forbes 30 Under 30 list.