March 30, 2023

Breaking Barriers: How a Small Financing Kickstarted Bulgaria's First CBD Cosmetics Company

Breaking Barriers: How a Small Financing Kickstarted Bulgaria's First CBD Cosmetics Company

As an entrepreneur, it can be easy to get caught up in trying to create the perfect product or service, but sometimes the best ideas come from unexpected places. In a recent podcast interview, a Bulgarian entrepreneur shared how she stumbled upon a successful business idea by simply sharing her homemade face masks and hair masks on Instagram.

The entrepreneur began by practicing self-care with homemade beauty products and eventually started experimenting with making her own cosmetics. She began sharing her products on Instagram stories, and soon her friends were asking her to make products for them too. Within two months, she had received over 200 orders and realized she might have a business idea on her hands.

Despite her success, the entrepreneur faced challenges in explaining to customers that her products were not certified organic or made in a lab. She had to work hard to educate customers and build a business around her homemade products. She applied for financing from the European bank and received her first investment of 10,000 Euros. Although she didn't attend any workshops or accelerators at the beginning, she eventually joined one to network with other entrepreneurs.

Now, the entrepreneur's company, Exhibit Cosmetics, sells CBD oils as supplements and has over 2,000 customers in Bulgaria. However, she admits that there is still a lot of work to do to educate people about CBD products and plans to expand into Romania soon. She's passionate about providing accurate information about supplements and cosmetics and is proud that her team includes a doctor who helps synthesize clinical trials into understandable language for customers.

The interview highlights several important lessons for entrepreneurs. First, you don't always have to start with a fully-formed business idea. Sometimes, the best ideas come from experimenting and sharing your work with others. Second, education is key when it comes to building a successful business. The entrepreneur had to work hard to educate her customers about her products, and now she's passionate about providing accurate information to her customers. Third, financing can come from unexpected sources. The entrepreneur received her first investment from a middleman institution associated with the European bank, and she encourages other entrepreneurs to explore all of their financing options.

Overall, the podcast interview demonstrates that successful entrepreneurship often comes from a combination of creativity, hard work, and education. Entrepreneurs should be willing to experiment and share their work with others, but they should also be prepared to educate themselves and their customers and to seek out financing from a variety of sources. By following these principles, entrepreneurs can turn their passion into a successful business that makes a difference in people's lives.

📫 Find out about each guest and be the first to know when new shows drop when subscribing to the ICL newsletter! (subscribe here or on right side of page). Catch the podcast interview with Aleksandrina Ikonomova here.