Honest Co., which makes environmentally friendly baby products, generates about 80% of its revenue from a service that delivers diapers and other items every month, according to CEO and co-founder Brian Lee. It’s estimated that the company this year will bring in at least three times last year’s sales, or more than $150 million, according to a Wall Street Journal report.
Alba, 33 and the mother of two, says she was inspired to start the company after discovering that many household products were filled with toxic chemicals. She said in a statement she believes investors are making “a meaningful impact in the marketplace.”Honest Co. is now likely gearing up for an IPO as it looks to grow beyond the U.S. and Canada to China, England and Australia. Alba recently did a Q&A with MarketWatch on what it’s like to start a company from scratch while juggling an acting career and motherhood. She also opened up about past money mistakes, what she does first thing in the morning, and what book she thinks everyone should be reading.
MarketWatch: What’s been the most challenging part of getting a startup off the ground?
Alba: Delivering a product and executing an idea from A to Z is an uphill battle and an evolving process. I don’t believe in doing things a certain way just because they’ve always been done that way. Process is helpful to give you benchmarks and guidelines but isn’t the only path you need to take. While I appreciate it, we try as a company to approach developing an idea into a product with a more open outlook.
MarketWatch: What part of the process of starting your own company surprised you the most?
Alba: The most surprising part of starting my own company has been how much I have to listen to my intuition and trust my gut. I didn’t realize how much entrepreneurs rely on that.
