My week: Kristy Goodger of Elemental Herbology

The beauty entrepreneur on the hunt for investors, Scottish spas and working harder than her husband.

by Hannah Prevett
Last Updated: 09 Oct 2013
On Monday I spent a large part of the day attending meetings with potential investors. My current shareholders have been really helpful, and have introduced me to their contacts who are considering coming on board. The cash will mainly be spent on new product development, plus online and international expansion.

Hunting for new investors is exhausting. You’re constantly running around going to meetings. Also, you feel kind of torn emotionally. Obviously, we’re feeling quite positive about getting cash into the business, but we don’t want to dilute the shares too much either. It’s quite a fine line: you feel like you’ve put so much in, so being diluted now is a bit annoying. But at the same time, you need the cash to grow. So it’s about balancing the two.

Then on Monday afternoon, I had a meeting with Kiwi, our head of sales. We’re looking closely at our Space NK account (where we sell most of our products) at the moment. We’re talking about bringing in a manager for the north of England because we find that we don’t get to the stores up that way enough, and they suffer in comparison to our London stores. So to boost our turnover, we really need to focus on the North as well.

Coincidentally, I was actually in Glasgow (where it was absolutely freezing) on Wednesday. I was supposed to go up the week before Christmas, when there was all that snow, but I cancelled at the last minute. I have a 13-month old baby, so the last thing I can do is get stuck up there. This week I went to look at a spa site. One of our potential investors is from a retail spa background, and there is an amazing opportunity for a spa site in Glasgow. It’s a beautiful location, and very, very tempting, but we still need to explore if it’s the right direction for us. I always imagined our first spa would open in London.

While I was in Glasgow, I also went to the Space NK there, which stocks our products, to see how their merchandising is and check our testers, things like that. I also did a training session with the store staff. Unfortunately, I didn’t have time to hit the shops myself as I had to head to the airport as soon as I was done. I always try to get home before my little girl goes to sleep. We have a full-time nanny, but I like to put her to bed. It does mean that I often end up working late into the night though. Whereas before I’d just stay in our Shoreditch office until eight or nine, I now have to be home for 6 o’clock. As a result, I have to catch up on some work when she’s gone to sleep. Although on the plus side, working at this time enables me to have calls with partners in the States and Australia.

Every Thursday I generally try to do something with my little one, so we went to a playgroup in the morning. As a result of everything being a bit frantic at the moment, my social life is all a bit dull. I did get to go out with a supplier for dinner on Friday, though. It was a nice way to end the week – especially as I’d had a shoot with Marie Claire earlier in the day, so I’d had my hair and make-up professionally done.

Having a baby completely changes your life. My husband and I tend to stay in a lot these days – or if we do do something, I’ll put my daughter to bed and then we’ll go out later, just locally for a bite to eat. He works long hours too – he’s in property – but probably not as long as me. He’s got more of a gentleman’s job.

Kristy Goodger is the founder of beauty product brand, Elemental Herbology and also featured on MT’s list of 35 Women Under 35 in 2010.

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