A young Aussie who turned down a $300,000 Shark Tank offer ended up on the Forbes rich list after just four years.

Just four years later, a young Australian entrepreneur who turned down a $300,000 Shark Tank offer was included in the Forbes rich list.

The young Australian beauty entrepreneur who turned down a $300,000 offer from Shark Tank to invest in her business was named to the Forbes Asia 30 under 30 list just four years later.

Iris Smith, 27, turned down a $300,000 investment offer from Andrew Banks in exchange for 25 percent of her three-month business, which includes the Quick Flick brand, a beauty fridge that keeps skincare products cold, and sticky eyeliner for eye for false eyelashes.

And the gamble has paid off: her beauty empire now brings in $15 million a year in revenue, and Smith is on Forbes’ coveted rich list.

“This is very encouraging for the industry and a group of people who deserve the highest possible recognition for their hard work. I am so proud to represent Perth’s small business industry at Forbes,” she said. Australia Daily Mail.

According to Smith, the idea for Quick Flick came about in 2017 when she was looking for an easier way to do winged eyeliner every day.

“I started working on a project to create a winged eyeliner solution. It was my signature look and no matter how much I practiced, I could never get it right and then it turned into a business,” she told news.com.au in October last year.

“I never started out thinking it was going to be a big brand, but when I first started working on the product, there was a huge need. Since then, every product I create has been about solving a problem or trying to create a faster or easier solution to a makeup application or beauty product.”

Although she did not accept an offer to invest in Shark Tank, her appearance on the show caused the business to explode.

“After it went on the air, things went completely wrong – we actually got two months of revenue in four hours. It was completely ridiculous. To be honest, I’m surprised our site didn’t break,” she said.

“Looking back, I realize that it was a blessing, but also a curse. Normally a business doesn’t grow that fast, so it was quite difficult to implement so many systems and procedures in such a short time.”

The eyeliner stamp is still the best-selling “iconic style product”.

But when Covid hit, the new product she was working on proved to be the perfect time to launch, especially as mask-wearing became the norm and eyes “were the only things to show off.”

She created eyeliner and eyelash glue two in one.

“It exploded during Covid as many eyelash extensions were closed,” she said. “So it attracted clients as they couldn’t get lash extensions and false lashes and it allows you to put on false lashes in seconds.”

Ms Smith also believes that the pandemic has affected beauty treatments: many people are no longer interested in spending hours on make-up in the morning.

“People no longer need long complicated procedures. They need two or three products that they can apply and then are ready to use,” she said.

“There is a shift in the types of products people want. They want these quick fixes and multipurpose products, not five different things.”

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