Side Hustle Spotlight: The Inspiring Journey of Nori Co-Founders Courtney Toll and Annabel Love
In the bustling world of entrepreneurship, few stories shine as brightly as that of Courtney Toll and Annabel Love, the dynamic duo behind Nori. Their innovative product, the Nori Press—a compact steam iron—has not only transformed the ironing experience but has also led them to remarkable financial success. Launched in 2021, Nori Press generated an astounding $1 million in revenue within its first nine months. By the end of 2024, they project revenues to soar to $20.8 million, doubling their earnings each year since 2022. This article delves into their journey, challenges, and insights as they navigated the world of side hustles and entrepreneurship.
The Genesis of Nori
From Frustration to Inspiration
The idea for Nori was born during Toll and Love’s college years at Wake Forest University. Living in cramped New York City apartments, they faced the daily struggle of maintaining a polished appearance for their professional internships. Traditional ironing methods were cumbersome and impractical, leading them to experiment with various DIY wrinkle-removal hacks, including using hair straighteners as makeshift irons. This frustration highlighted a significant gap in the market for a modern, efficient ironing solution, sparking the inception of Nori.
Balancing Act: Day Jobs and Side Hustles
Upon graduating, both founders opted for full-time jobs to ensure financial stability while nurturing their side hustle. Toll joined AlphaSights, where she honed her skills in research and operations, while Love gained valuable experience in supply chain management at an interior design firm. These roles equipped them with essential skills that would later prove invaluable in launching and scaling Nori.
Laying the Foundation
Initial Steps to Launch
The groundwork for Nori began during their senior year, where they conducted market research and analyzed industry dynamics. After graduation, they dedicated their nights and weekends to product development, visiting 19 design firms across the country to bring their vision to life. They incorporated the company, established initial budgets, and successfully closed a $300,000 friends-and-family funding round—all while maintaining their full-time jobs.
The Role of Mentorship
Throughout their journey, mentorship played a crucial role. They reached out to established entrepreneurs, including Emily Weiss of Glossier and Jim McKelvey of Square, gaining insights that would guide their business decisions. This proactive approach to networking underscored the importance of learning from others in the entrepreneurial space.
Navigating Challenges
Learning from Mistakes
As with any entrepreneurial journey, Toll and Love faced numerous challenges. They acknowledged that something often went "very wrong," whether it was supply chain issues or marketing delays. Their strategy for overcoming these obstacles involved staying grounded in their mission and relying on each other for support. They recognized that entrepreneurship is a rollercoaster ride, and having a trusted partner made navigating the ups and downs more manageable.
The Importance of Forecasting
Reflecting on their early days, Toll emphasized the need for better forecasting and inventory planning. As a hardware business, they faced long lead times and capital tied up in physical products, making accurate forecasting critical. She expressed a desire to have invested earlier in operational foundations, such as demand-planning tools and inventory management, to avoid costly missteps.
Achieving Growth
Rapid Revenue Growth
Since launching in May 2021, Nori has experienced exponential growth. Their first full year in business saw the Nori Press featured as one of Oprah’s Favorite Things, propelling them to $5 million in revenue by the end of 2022. They continued this upward trajectory, reaching $10 million in 2023 and projecting $20.8 million for 2024. Remarkably, this growth has been achieved by a lean, three-person, all-female team, highlighting their efficiency and focus on product-market fit.
The Joy of Collaboration
For Love, one of the most rewarding aspects of running Nori is the partnership with Toll. Their shared vision and mutual respect foster a collaborative environment where they can celebrate milestones together, from product launches to retail partnerships with major brands like Target and Nordstrom.
Key Takeaways for Aspiring Entrepreneurs
Actionable Business Advice
Both founders emphasize the importance of mastering one distribution channel before expanding. They started with a direct-to-consumer model, dedicating their first year to understanding unit economics and marketing strategies. This foundational knowledge allowed them to expand successfully to platforms like Amazon and retail partners, ensuring a stable and scalable growth strategy.
Embrace the Journey
Toll and Love’s story is a testament to the power of perseverance, collaboration, and strategic planning. Their journey from frustrated college students to successful entrepreneurs serves as an inspiration for anyone considering a side hustle. They remind us that while the path may be fraught with challenges, the rewards of building something meaningful with a trusted partner can be immeasurable.
Conclusion
Courtney Toll and Annabel Love’s journey with Nori exemplifies the potential of side hustles to evolve into thriving businesses. Their innovative approach to a common problem, combined with their dedication and strategic planning, has led to remarkable success. For aspiring entrepreneurs, their story is a reminder that with the right mindset, resources, and partnerships, anything is possible. Whether you’re just starting or looking to scale your venture, the insights from Toll and Love can guide you on your entrepreneurial journey.
