The Hustle - 🦁 The $100B quest for shiny mane

Happy Trends Tuesday!

It’s summer, so I’ll keep it short and sweet.

OpenAI finally comes for search, and the internet is filled with mixed feelings about the potential changes (to get a better sense of that future, check out this piece).

But one thing won’t change much —

What people search for.

For one, I bet “how to prevent hair loss” is still going to be high on the list. 

In today's email…

• Follow this trend and build a winning hair product in 2024
• How to crush the 3 big reasons you don’t have work-life balance
• What we’re surfin’, from scary bossy emails to 50 delicious business ideas

Let's dive in!

⚽️ KICKSTART A STARTUP

Time to take your great ideas to the next level. Here are 9 nimble templates to help you brainstorm a name, nail down a pitch, estimate costs, and assess feasibility.

🚀 WHERE TO BUILD NEXT

Oily hair, scalp care, and building a hair brand in 2024

You might not be a fan of greasy hair (although the look is kinda in vogue now), but it’s hard to ignore the growing number of people oiling their manes. 

Hair oils, known for boosting hair and scalp health, are having a moment: 

• On TikTok, #hairoiling has garnered almost 2B views
• Hair oil sales growth has surpassed the overall hair category by 1.5x this year
• Sales of scalp care products grew 24% YoY (Q1 2023 to Q1 2024)

Source: Google Trends, six-month rolling average

The signal: Folks are taking care of their hair the same way they do their skin, with a focus on foundational health. 

Amazon searches for hair oil products are trending up, too. The most notable is “batana oil for hair growth,” whose search volume grew 200%+ in the last month to reach 1.1m, per Jungle Scout. 

And this $9 hair strengthening oil racks up $1.8m+ in monthly revenue. 

So what does this all mean? 

It’s a great opportunity to bring innovative hair products to market that play up the health angle.

The global hair care market reached ~$100B last year. The scalp care segment alone is set to reach $21B by 2030. 

👉 One high-growth area is personalization. 

79% of people can’t find products tailored to their hair type and needs, and over half don’t even know their hair type. Companies are embracing AI to meet these needs, from Myavana’s new hair system to Perfect Corp.’s hair analytics tool. 

👉 Look into newer ingredients and supplements. 

Folks are always looking for cleaner, more weird-sounding ingredients in their hair care routine. If there’s a supplement to take, even better. Content products that review, explain, or even debunk all this stuff could be in high demand. 

👉 Something more physical

Why stop at facials? Let's get the scalpcials going. Scalp massage is trending, and 114k global searches go to "scalp massager" every month (very low keyword difficulty too). You can either sell the tools or start a service specializing in scalp care. 

How to scale a hair product on TikTok

Ideas are great, but our real gift to you is an expert operator who built a $25m business focusing on hair loss. 🎁

Meet the founder of Boldify, Mike Viskovich. 

He bootstrapped the company with $50k, did $200k revenue in year one, and expects to hit nine figures in ARR in the next few years. 

Mike gave generous recommendations for anyone who wants to build a hair product in 2024. If you’re curious, check out the full article for all his tips.

But we’re gonna focus on one specific channel here — TikTok.

This post got 12m views on TikTok. Source: TikTok

In the last couple of years, Boldify enjoyed an influx of customers because their hairline powder product took off on TikTok. 

Users found an alternative way to use the powder – instead of concealing hair loss (which tailors to a slightly older crowd), younger blondes are using it to cover up their roots. 

Hey, whatever works. 🤷‍♀️

Boldify of course leaned on the organic momentum, and amplified it by investing in influencer partnerships. 

With DTC ads getting so expensive, product seeding on TikTok is the best acquisition bet for new brands. 

“If I were to launch a new product today, I’d try to get it into the hands of as many people on TikTok as possible,” Mike said. “You don't even need a lot of money — just do a free product and then exchange for a post. 

The hairline product took off specifically because it’s instantly demonstrable —  you can easily see the before and after, which makes TikTok users more likely to share and engage, and the algorithm more likely to push it. 

“TikTok is where it's at. If you're a beauty brand, as far as I'm aware, there's no better place to get that kind of virality, cheap CPMs, and awareness right now,” Mike said. 

Keep reading to see all of Mike’s recommendations (and how Boldify did it), like winning on Amazon, and *ahem* following trends. 

⚙️ OPERATOR WISDOM

3 reasons you don’t have work-life balance, and how to crush them one by one

Researchers can be the worst kind of dinner guests…  

…because they ask the questions you don’t want to think about. 

My colleague Flori and I were those researchers, when we surveyed 500+ SMB owners and startup founders about their biggest struggles. 

Here’s their ranking: 

Ah, the good ol' work-life imbalance. Source: HubSpot Research

Unsurprisingly, work-life balance is the ultimate beast to conquer. 👊

But the lack of it can stem from a million other things. Aside from practical concerns like customer acquisition and getting recurring revenue, these three things are causing founders to burn out: 

• Struggle to stay motivated
• Don’t feel comfortable asking for help
• Can’t delegate effectively

So we found some folks who’ve been there to give their advice on getting over these bumps:

1. How to stay motivated

Justin Silverman, founder and CEO of Merchynt, said, “The biggest challenge for me was staying motivated during the early days when revenue was nonexistent and growth was slow.” 

What he did to regain motivation: 

“I took inspiration from The Messy Middle and set a mix of small and large achievement goals. I put them on a board in front of my desk and checked them off as I went. This approach helped me see that little wins add up to big achievements over time. It kept me going when I had previously given up on other ventures.”

From the author of The Messy Middle, Scott Belsky. Source: Medium

Celebrate small wins to get out of the messiness, y’all. 🙌 

2. How to ask for help without feeling uncomfortable 

For Jody Swain, founder of Hire & Fire Your Kids, the biggest challenge as a first-time entrepreneur was trying to do it all by herself.

“I didn't want to bother people, take up their time, be judged, or be rejected, so instead, I did what I thought entrepreneurs were supposed to do — I hustled."

Anyone feel seen?? 

Jody worked too many hours every day for months, until her family held a full-blown intervention for her. 

Source: Tenor

When she finally started seeking help, Jody discovered tons of resources available for entrepreneurs, such as grants, small business hubs, and accelerator programs — they existed all along.

“What took me way too long to learn was that there were actual people out there who wanted to help. The answer will always be no if you don't ask. Once I realized that all I had to do was be brave and just ask, the doors of support opened, and I haven't looked back,” Jody said. 

3. How to build and empower a team 

Gauri Manglik, CEO and co-founder of Instrumentl, said her biggest challenge was “finding the right balance between leading my team and allowing them the autonomy to thrive.”

Early on she micromanaged every detail, but quickly found that the control stifled creativity and performance. 

So Gauri adapted. She learned to provide support through coaching and mentoring, while trusting her staff to do their job. 

What happened next? 

Greater engagement, output, employee job satisfaction, and better business results. 📈

“The real key was hiring the right people, clearly communicating the vision and expectations, then getting out of their way. I had to recognize that innovation comes from empowered teams, not overbearing founders.”

Keep reading to see 8 other high-ranking challenges and how to solve them, including practical tips and resources you can apply to your business. 

🗂️ OPEN TABS

🍝 List: 50 delicious ideas from the restaurant biz to inspire you

🫣 From X: These emails from Big Tech leaders are scary bossy

📢 Tips: 3 ways to improve any ad in a minute (with examples)

🦈 Persistence: This founder applied for 15 years to be on Shark Tank...