Stop waiting for a great idea. Success is all about this one thing, says this health and wellness leader.

In this continuing series, we share tips, tricks, and insights from real entrepreneurs who struggle in business daily. (Answers have been edited and condensed for clarity.)

Skin Laundry

Who are you and what do you do?

My name is Gregg Throgmartin, and Skin Laundry is a pioneering medical aesthetic company that I first invested in in early 2017, then joined as CEO soon after in 2018 Skin Laundry was founded on the belief that the technology and science that shapes skin care today should be widely available and accessible to everyone. We are focused on delivering personalized energy-based facials and have performed more laser facials than anyone in the world. We have 23 clinics in the United States, plus ten internationally, and we're on track to own and operate 100 clinics by the end of 2024.

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Prior to joining Skin Laundry, I was President of Fabletics, where I built their retail channel, growing their then pure direct-to-consumer e-commerce model. Since 2010, I have been an active seed and growth investor and board member of consumer-focused startups.

What prompted you to come on board?

When I started my Skin Laundry journey as an investor and board member, I had a clear "aha moment" after visiting a handful of our clinics. I spoke to team members at each location and always asked, "What brought you to Skin Laundry?" Almost every employee has had the same story: they started as a customer and the results changed their lives so much that they wanted to join the company to help others have a similar experience. They would all proudly pull out their iPhones to show me their before-and-after photos as proof. I knew there was something much more powerful going on than I could have ever imagined.

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What has been your biggest business challenge and how have you pivoted to overcome it?

Being forced to close during Covid was clearly a tall order. We had to deal with fear and uncertainty, loss of loved ones and loss of connection, while pursuing the steps to ensure that the business could not just bounce back, but excel when we finally emerged. The lingering effects on the workforce, especially when preparing the strong growth plans we had for 2022 to 2024, have taken longer to recover. We continue to work to overcome this, and I can say that the fastest growing department in our business over the past year is our People Team. We have put more effort into building the best team and resources for our Skin Laundry employees than at any other time in my career. These efforts are paying off: employee reviews on Comparably are strong and our EMPS is among the best.

What advice would you give to entrepreneurs looking for financing?

Make sure you have enough funding to derail some initiatives. I wish I could say that the first initiative I implemented at Skin Laundry was a huge success. But that was not the case. You need enough money to test, fail, iterate, retest, refine, and keep going. If you happen to get it right the first time, congratulations: your funding cushion along with your early earning will strengthen the team and accelerate growth.

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What does the word “entrepreneur” mean to you?

To me, an entrepreneur is someone who can paint a vision of something that has never existed before, and then work tirelessly to make it happen. Someone who lives and breathes his business, not because he has to, but because he loves it. An entrepreneur is curious, passionate, and unafraid to dive headfirst into a realm of opportunity where almost everyone has failed before. They can either cut out the big chorus saying "this won...