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WOMEN IN BUSINESS |
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These four entrepreneurs had an idea and figured out how to turn their vision into reality. Meet this year’s mavens of the marketplace. |
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By Tori RichardsPublished: July 17, 2008 |
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Some have been in business a couple of years, some only a few months. But each of these women saw an opportunity to fill a need in the marketplace, and in a short period of time, they’ve seen results. It may be too soon to tell whether they’ll turn their businesses into multi-million dollar operations, but we applaud their entrepreneurial spirit and vision, and we share their stories with you. |
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| Diane Truong |
| Company name: MD MOMS |
| The idea: skincare products for babies |
| Time in business: two years |
| Startup cost: $150,000 |
| Web site: mdmoms.com |
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As a pediatrician, Diane Truong often is asked about baby skincare. And, as a mother, she knew there was a lack of quality products on the market to treat certain conditions. |
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“I found that there were really not any products out there that I felt confident in recommending,” says the mom of two boys, ages 10 and 14. |
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For example, a flaky head condition known as cradle cap has been commonly treated with adult dandruff shampoo. Regarding sunscreen, Truong liked the blocking power of zinc oxide, but nothing on the shelves seemed to be strong enough without creating a gooey mess. And she knew that common ingredients in baby products like lanolin and mineral oil can be irritants. |
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Truong talked to a friend she met in residency who was having the same issues, and the women decided to develop a line of luxury baby skincare products. |
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Funded with money from their savings, they launched the company with 10 personal-care product samples that they sent to a national boutique baby store, which promptly placed a large order. Merchants liked the innovative packing that included bottles with wide bottoms so they didn’t tip over and flip caps to open with one hand. |
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Today, Baby Silk products – which range in price from $6.50 for a three-pack of towlettes to $185 for an eight-piece gift pack – are sold online and in 300 stores nationwide, and also are shipped to seven international destinations. Locally, the products can be found in several boutique chain stores in Newport Beach, Mission Viejo, Tustin and Costa Mesa, as well as at St. Jude Medical Center in Fullerton. |
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Truong says the company is unique because it’s owned and operated by two pediatrician moms who create the quality baby skincare products. |
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The poor economy caused a slight drop in sales during the beginning of the year, but MD MOMS rebounded and has seen a 56 percent growth in the second quarter, compared to last year. |
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And it’s caught the attention of celebrity moms, such as Sheryl Crow, Jennifer Garner and Christina Aguilera. |
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As for life as a businesswoman, Truong admits, she’s had to learn a few things along the way. |
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“Being a doctor and trained with the concept of two-way, full-disclosure as part of any doctor-patient relationship, I certainly needed to change my approach going into business meetings,” she says. “It’s not always the wisest thing to wear your heart on your sleeve.” |
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Tori Richards is a freelance writer from Huntington Beach. |
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