Craig Schweighoffer, the founder of Boost Lab, has built a strong profile in the beauty and lifestyle category. Six years ago, he took over Biophysics Australia, the brand owner of the best-selling cosmeceutical range, Skin Physics. Craig was also the co-founder and CEO of Ecoya/Trilogy. Last September, the Boost Lab brand made its debut. He shares his secrets to building a successful brand.
On building brands
“I really enjoy building brands. In particular, I love taking an idea and turning that firstly into a useful product, and then, overtime a brand that is loved. This is all I have done for the past 20 years and it is part of my DNA. Whilst extremely challenging, it is also very rewarding and I don’t think I will stop anytime soon. I am now fully immersed with Boost Lab and supercharging skin routines globally.”
The most important characteristics of brand
“It starts with the product/service. Having a great product at fair value is really non-negotiable and is the starting point of all great brands. This allows you the opportunity to then build a brand. To succeed over the long-term, however, you need to build loyalty and repeat business by creating an emotional connection with your audience. So, for me, the most important brand characteristics are about understanding your market, offering something unique, adding value in some way and remaining consistent.”
Top brand values
“I will answer this from a Boost Lab perspective. Our company was founded on the ‘Boost attitude’, which is about bringing next level expertise, energy, support, and sense of community to boosting results. The Boost brand is built around clean science, great value and a ‘do no harm’ ethos. It’s an attitude that shows in how we make our products and how we treat our customers.”
The impact of Covid-19
“To start with, it was obviously a big shock and there were a lot of ‘What-ifs?’ being played out. As it settled down and we became used to living with the virus, it was then about figuring out how to get on with things and what that looked like. In a way, it forced us to focus even more on our target market, and establish what they wanted from their skincare routines. So, while sales were impacted over the first part of Covid-19, I can say that now we are in a better position than we would have been without Covid-19.”
Greatest success
“Success means different things to different people. For me, from a business perspective, it is about being recognised for your contribution to the brand by a third party, whether that be through awards or being ranged in a leading retail store and so on. Looking back, having a brand I worked on being stocked in Harrods in London or Bloomingdale’s in New York are certainly career highlights.”
Most valuable career lesson
“Quite a simple mantra really, if you want different, then do different. Another way of putting it is that the first sign of insanity is to keep doing the same thing over and over again and expecting a different result.”
Advice to next generation of brand creators
“The best brands are ones that are not easily replaced. By that, I mean all brands need to continually ask themselves: Do you have a difference that matters? If your brand vanished, would it leave a vacuum or would it be easily replaced? So, go and create a brand that would leave a huge vacuum.”
Maintaining a work/life balance
“Work/life balance is a tough one, but something you really need to work at. At the business start-up stage, it is all hands on deck, and you really need to focus and give it 100 per cent. To facilitate this, for me that means ticking the exercise box early in the day, so work doesn’t get in the way. A quick run or gym session clears my head and sets me up for the day. It then allows some family time after work. As the business grows and you build a team, you can look to improve the balance. However, the work side never really leaves you. But I guess if you love what you do, then work/life balance doesn’t really matter. It’s more about mind and body health, rather than work/life balance.”