How were you able to start your company without taking on any investors?
“For one, I waited until my 50’s—that meant I was in a more financially secure place. But it’s simpler than that: I saved my money. I saved money my whole life because I knew I wanted to do something. People nowadays, I don’t want to be mean, but they’re so brainwashed by designer stuff… It’s like the word ‘save’ doesn’t even exist anymore.”
Why do you think entrepreneurs spend too much money?
“I think there’s this pressure to have a fancy office—have some big name creative director who you pay $100k per year… But that’s all ego. Your company doesn’t need it and you don’t either. What you need is a good product… If you have that, things will grow from there.”
Where’s the biggest area RMS Beauty saves money?
“I chose not to get an office in New York City. Why would I get an office here and pay $60,000 a month for a big, fancy, 8,000-sq.-ft. space? We have that in Charleston for $6,000 a month. That’s why we’re making money. Stop throwing your money around to show off.”