Starting a startup with no business experience can be daunting.
But that didn’t stop Chrisanti Indiana – she was just 24 years old when she co-founded Social Bella.
“You have nothing to lose, that’s actually the advantage of starting young,” Indiana, now 31, told CNBC Make It.
The Indonesian beauty and personal care retailer has raised around $225 million since 2018 and has assembled an impressive list of investors that includes East Ventures, Jungle Ventures and Temasek.
The company started as an e-commerce platform called Sociolla in 2015, but has since expanded to 48 stores in Indonesia and 13 stores in Vietnam.
Indiana tells CNBC Make It how she turned her startup into a multimillion-dollar beauty company.
1. Be agile
When running a business, adapting to change is paramount, Indiana said, especially when you least expect it.
Like all businesses around the world, Indiana had to deal with the Covid pandemic, which coincided with her company’s five-year anniversary, she said.
“We were very excited in 2020… we planned a lot of campaigns and events and then the pandemic came. It was pretty shocking,” Indiana added.
“There was a lockdown and the mood was completely different. Not just with the customers, but also with the team.”
As chief marketing officer, Indiana quickly initiated a change in direction during “a very confusing time,” pivoting to online events and shifting its focus from makeup to self-care from home.
“It’s been a steep learning curve because you also have to manage the team, make sure everyone is OK and let them know we can get through this together,” Indiana said.
“It’s about making sure you’re agile enough to manage dynamic change.”
2. Do what is right
The idea for Sociolla came about in 2015 when Indiana discovered the online distribution of counterfeit makeup products in Indonesia.
These products are sometimes sold at “a fraction” of the original price, she said.
The e-commerce platform was Indiana’s solution to the problem – it allows consumers to get products that are safe, authentic and certified by Indonesian authorities.
“Since we started, we have made sure that we only work with authorized dealers or only the brand owners.”
When you have a business, you want it to be successful. But at the same time, you also want to make sure you’re doing the right thing.
Indian chrysanthemums
Co-founder and CMO, Social Bella
However, this approach wasn’t easy, especially when awareness of the authenticity of beauty products was low at the time, Indiana said.
“When you have a business, you want it to be successful. But at the same time, you also want to make sure you’re doing the right thing,” she added.
“It’s been a challenge to really educate consumers that cheap doesn’t always mean better.”
But this strategy appears to have paid off. Social Bella has it now According to Indiana, the company has more than 30 million users across all businesses and sells an inventory of 12,000 products from 400 brands worldwide.
The company has also attracted attention from investors – its latest funding round raised $56 million, led by US private equity firm L Catterton.
“It’s been a long road, but I’m really proud that we’ve chosen to do the right thing from day one to this day.”
3. Choose the right leaders
Although she was never held back as a young entrepreneur, Indiana admitted there were “a lot of things” about running a business that she didn’t know.
That’s why Indiana attributes some of Social Bella’s success to the diverse backgrounds and expertise of its co-founders.
Indiana, who has a background in the creative industries, leads branding and marketing – while her brother and president Christopher Madiam, who studied computer science, brings technical knowledge.
John Rasjid, CEO of Social Bella, has a background in finance.
“Having my two co-founders was really important for me, we support each other and we have a really great dynamic.”
Her brother Madiam, who has been a role model for Indiana since she was young, was a special source of strength, she said.
“He constantly pushes me to grow, learn and embrace challenges with an open mind and positivity,” she said.
“It’s easier to say nice things to people that they want to hear, but Chris was always honest with me. And I’m very grateful for that.”
Do not miss: This Millennial took a risk during the pandemic. Now her startup has raised over $225 million
Do you like this story? Subscribe to CNBC Make It on YouTube!