E161: Hitting Higher Goals from Being Stagnant at $10-Million with Habib Salo

<p><strong>Habib Salo is the CEO of Young Nails, a nail care business that grew with the help of VaynerMedia and every portion of it from being stagnant at $10 million. Habib’s mom started a cosmetics company back in 1992. She had a passion for the nail industry and they did everything in their power to support her. It was a family business after all. &nbsp;Greg, the older brother, became a licensed nail technician after switching gears from firefighters' training. Habib, on the other hand, &nbsp;jumped in a few years later, taking a detour from medical school and a life in music.</strong></p> <p><strong>Today, 24 years later, Young Nails Inc. is more than a professional nail care manufacturing company exporting to over 40 countries worldwide and distributing domestically to over 3,000 stores.</strong></p> <p><strong>Here are some power takeaways from today’s conversation:</strong></p> <ul> <li>Operating out of 25% fear and 75% challenge<br> </li> <li>How they got out of debt<br> </li> <li>Breaking through their revenue ceiling<br> </li> <li>About the VaynerMentors program<br> </li> <li>The changes they’ve made to grow their business and brand<br> </li> <li>How to differentiate yourself in a saturated market<br> </li> </ul> <p><strong>Episode Highlights:</strong></p> <p><strong>Operating on 25% Fear and 75% Challenge</strong></p> <p>Habib says he doesn’t operate totally out of fear. It’s 25% it's fear and 75% of taking the challenge of how he could get to the next level. Because when you reach $10-million revenue, that’s almost like a ceiling that’s hard to crack. For them, it’s not the money and having to want more. But it’s about not taking things for granted because things can change in just a couple of seconds.</p> <p>As they were still starting out their company, they found themselves in deep debt. Habib says that in order to get yourself out of this rut, you have to figure out how to manage your debt. Have a realistic timeline. Then also figure out a way to bring money in each week.</p> <p><strong