The First Customer - Shark Tank Series: The Sticky Success of A Slime Master with Founder Mark Lin

[00:00:27] Jay: Hi, everyone. Welcome to The First Customer podcast. My name is Jay Aigner today. I am lucky enough to be joined by Mark Lin. He is the founder of Sliimey honey. I'm not even going to try to explain how cool this stuff is. Mark, how are you doing, buddy? 

[00:00:41] Mark: I'm doing great. Thanks so much for having me, Jay.

[00:00:44] Jay: So why don't you tell us what Sliimey Honey is because I really enjoyed your segment on Shark Tank, explaining what it was and I just kind of seeing your passion behind what it is you're doing. So why don't you tell us about what it is? 

[00:00:57] Mark: Yeah. Sliimey Honey is basically the world's gourmet slime company.

So we make and sell slimes that smell and look like slime. Your favorite foods, they're sensory toys, so you can poke them, stretch them, squish them, and they all smell really good. So,

[00:01:12] Jay: and you started all this out of your garage, right? Typical, you know, origin story of a super entrepreneurs in their garage, I guess.

[00:01:20] Mark: Yeah, correct. I started in my house's, storage room and it was basically during covid. and I was in high school and my high school moved online and I had just so much time. So I just decided, you know, why not just try to start a business. So, I asked my parents for like 200 worth of glue and borax solution to make the slimes and just mix them in my garage until, you know, I could eventually expand.

[00:01:46] Jay: Where did the idea to make them kind of gourmet, which I love that description, where did that come in other than just kind of regular slime with sparkles and all sorts of other stuff people throw into it? How did you get the idea to make them the way that you did? 

[00:01:59] Mark: Yeah. So slime was a huge trend when I was kind of in middle school and a lot of creators were getting like super creative with the slimes they were putting out.

So, the idea of like gourmet food looking slime didn't originate with me, but I think that. My designs like took them kind of to the next level. so it's been a lot of fun just like streamlining the creative processing. I also base a lot of them based off of different like scents that I have or charms that I import.

so yeah. 

[00:02:28] Jay: I love that. we'll get into the specifics of that a little bit more, but tell me about you. where did you grow up and did that have any impact on you being an entrepreneur so young? 

[00:02:38] Mark: Yeah. So I grew up in Burbank, California. and The child of an accountant and lawyer. So it's, kind of a businessy family, but entrepreneurship didn't really run super highly in my family.

I would say I wasn't really even on track to become an entrepreneur. I think during high school, I was still trying to figure out what I wanted to do. But I was leaning more towards maybe like law or, something a little more like in the corporate route. and then once I stumbled upon this slime business, like I went into it with no expectations whatsoever.

And I just like, to this day, I'm still like mind blown, but this is how like the journey has unfolded because when I started it, it was more so just to make money so that I could repay my parents for all the money I've been spending on all the glue and sparkles and stuff, just making my own slime. so yeah, definitely.

I would say I'm not from a super entrepreneurial family. it was just kind of. You know, I just kind of fell into it and I've been rolling with it ever since. but it's definitely a journey that I've been loved, loving doing, and I love running my slime company. So yeah, it's been fun. 

[00:03:43] Jay: How much revenue are we talking to date for, you know, slime?

I mean, some people I would guess have very, you know, wildly different guesses on what that would be. You know, I have got some guesses just from publicly available information that's out there, but from whatever you can share, as far as, you know, units sold and revenue, like, what are you talking for this business you built so far?

[00:04:03] Mark: Yeah. So I started this business 2020 and lifetime sales have been 1. 8 million, I believe. and then revenue from that has been, over a million. 

[00:04:16] Jay: Wow. I mean, just saying that must make you feel pretty good, right? 

[00:04:20] Mark: Yeah, it's definitely, yeah, it definitely makes me feel good.

[00:04:25] Jay: so tell me how you started to sharpen your business acumen, right?

I mean, you're a kid in high school, you're making slime and like, you're selling it to some people, but like, how did you start to evolve this into an actual business and start to identify things you need to improve? And like, did you have a business plan that you put together? Did you get one eventually?

Or like, what was the process for the business side of things for you? 

[00:04:50] Mark: Yeah. So like I said, when I started, I really had no business plan. I was just kind of making videos, posting them on Tik Tok and, you know, getting a viral hit every now and then, which would fuel my business for, you know, months to come.

I think as like when I first started, it was more so just like a hobby turned into a business. And then once I've started realizing like, Oh, this is bringing revenue. Like I should take this seriously. that's when I started to try to learn things about business. So, I mean, I was kind of just doing the same thing that I did, like, when I was starting initially, which is just posting TikTok videos, I did that for the first, like, couple years, and then by the time I went to college, I was more so focusing on, like, my academics as well as my business, so, I would say I've never formed, like, A business plan.

It's more so just always been like go with the flow type of thing. And because it was something that started as a hobby, it's just like, and I, and because I am kind of like young for my career path, it's never been something where I'm like, Oh my God. Like if I don't get, you know, X amount of sales, like I'm not going to, you know, like I, like it's been more so something that I've taken a little bit less seriously and like, I want it to stay true to the nature of like being a passion project.

so in terms of like developing my business skills, I've just been trying to learn as much as I can at school. as well as my own research outside. And I really do like the slime company because it gives me kind of a platform to practice all the things that I'm learning, on and like in real world skills, so.

that's just kind of like, yeah, I haven't really developed a super strong business plan, but it's kind of more so something that I've been practicing with. 

[00:06:26] Jay: You don't need a business plan. sometimes helpful, but, it sounds like you're doing just fine without one. so do you remember who your first customer was?

[00:06:36] Mark: I remember her name is Maya from, oh, from somewhere in Southern California.

[00:06:44] Jay: and you were saying, the reason that people came and picked these up at your house, there was no shipping originally, or were you shipping them from the start? 

[00:06:50] Mark: Yeah, I was shipping them from the start. So I started, on Etsy.

So that was where I made my first sale. 

[00:06:56] Jay: Got it. And where do most of your sales come from today?

[00:07:01] Mark: I would say like over 95 percent still come from TikTok, on my direct to consumer Shopify platform. 

[00:07:08] Jay: Wow.and so how far are you going to take this thing, man? I mean, you're going, you're in college now, you're doing stuff like, do you have any plans for it or are you just kind of riding it for, you know, as long as it's going to go?

[00:07:20] Mark: Yeah, so now that I'm in college, I think it's kind of, I've reached that age where I need to start taking my career a little bit more seriously. so it's just kind of been like a top of mind debate for me in my head, whether to like, if I, how long I'm going to stick this out, you know, because if I have to like relocate for work, I wouldn't really know the logistics of that.

as of now, my current game plan is actually to just ride this out as long as I possibly can. I just like have had lots of talks with entrepreneurs and both. Both entrepreneurs and corporate people working in corporate. and I think just like the lifestyle and type of work that I would do in both fields like The entrepreneurial side just aligns a little bit more with like my interests and my nature.

so I Am kind of like going back to the whole business plan thing I think now is the time i'm going to start taking it a little bit more seriously turn the passion project into like you know something that I see myself doing for the next like five ten years and Kind of make a roadmap of how that's going to play out

[00:08:21] Jay: tell me about Shark Tank, just, you know, how getting on being on, I mean, obviously a lot of people get the big boost after they, you know, or even after the episode re airs, they keep kind of getting those boosts for, you know, the life of the show that you were on, but tell me about it.

What was your experience on Shark Tank? 

[00:08:37] Mark: Yeah, so my Shark Tank experience was great. I mean, I had a phenomenal time. so actually pre taping, I applied for Shark Tank three times. and the first few times I didn't get any response back. Like it was just, it fell on deaf ears, my application. and then the third time I submitted an application and then I posted a TikTok video with it.

And that Tik Tok video did relatively well. I mean, my account was doing pretty well at the time. but it amassed, I think close to Yeah, six or 700, 000 views. and then I think what really sold it for the Shark Tank producers, Barbara Corcoran commented on that video and was like, Oh, you know, you should apply.

And I'm like, yeah, I already did. and then I'm pretty sure the producers, she sent you to the producers or someone got a hold of that Video and, saw, you know, my business story and I kind of mark it as like something interesting. And like, I think I've had an interesting journey. So I think the Shark Tank producers really liked it and they decided to cast me.

and then once I actually got to taping before taping, we have to do a ton of work and like building the set, coming up with the pitch, working with the producers and all of that stuff. So that was a ton of fun. Just like getting to see the behind the scenes of, you know, a show that I love so much.

And then. Actually going to the show and pitching. It was like probably one of the most nerve wracking experiences my whole life. I was 17. and I had never pitched before, like that was my first time pitching. and it was just, I was so nervous. The sharks were all super sweet though. I mean, a few of them did end up grilling me on like some terms and like, I didn't really know what they meant because like I was just in high school, but, overall it was such a, Super fun experience.

everyone was so nice on the Shark Tank set and the producers were super nice. and then following when my episode aired in December, it was like around Christmas season two. So, I mean, we were already doing pretty well in terms of sales. And then once the episode aired, like we had prepared. Like six times the amount of slimes we had ever prepared for any restock ever.

I think we had close to like three or 4, 000 units ready and literally like within an hour, like all, not even an hour, like within 15 minutes, all of that inventory sold out, we were just like selling, we sold, like we ended up selling like 10, 15, 000 units, like three or four times more than we had anticipated.

Like, those two weeks following the Shark Tank, like, it was like, I woke up, I made slime the entire day, and I went to sleep. Like, there was no, like, there was no eating, there was no, like, sleeping, there was, like, no hanging out with friends. And that was my winter break, too. so that was, my freshman year of college winter break was spent, like, Honestly, I wouldn't have it any other way.

Like that was such a transformative experience for my business. Like I had never imagined that I would sell that many units. And like, I never, like, I was really excited at first, this excitement then became stress, the stress, you know, got the products out. but overall, like the. That was like a crazy experience, especially airing.

yeah, it was insane. My entire family was working like maybe like 15 hour days for like three weeks. 

[00:11:45] Jay: Wow. did you end up making a deal with Damon? did that like go through? Cause I know a lot of those like fall apart after the show airs or whatever. Did that actually, Did you guys end up working together?

[00:11:56] Mark: Yeah. So, Damon and I remained in contact for a little bit, but, we, I think we just saw, like different futures for the business. I kind of just liked keeping it in house and like, I kind of just liked the way I was running it. what we were talking about, like the business acumen side of things.

Like I, Kind of just liked, you know, posting my little TikTok videos and making some sales from that. But I think Damon was going for a little bit more of like a traditional business route in terms of like getting into stores, like pushing it out. and I think we just had kind of had different visions of what we wanted.

So I mean, I need to be, so we didn't end up working together, but, there were no hard feelings. Like, I still think he's great and he was a super cool guy to work with. 

[00:12:37] Jay: I love that. I mean, at least you got to peek behind the curtain of like a super successful, you know, shark and entrepreneur.

So that's pretty cool, man. so, what. What kind of, did a bunch of competition pop up after you did this? I know you said there was some stuff before, like, tell me about like, how do you keep something that's, you know, I don't know if it's patentable or not, but like, how do you keep something that's like, somebody else could probably make to some degree, how do you keep yours up at the forefront and kind of making sure that your sales have consistent?

And have you noticed anybody else's, you know, kind of knockoffs or anybody's popping up after you got, you know, the level of success you got, 

[00:13:13] Mark: Yeah, so, like I mentioned, like, before, I started my company, slime was just a huge trend ever since I was in middle school, like, a lot of people have been selling slimes, since, and I think the whole thing about, like, gourmet, like, food looking slime doesn't necessarily, It's not necessarily unique to my brand.

and yes, there are, like, there's a lot of competition. I think there's maybe like tens, maybe even hundreds of thousands of slime accounts out there, selling slimes on Etsy, selling slimes, like, on Shopify, doing the exact same model that I have, because I think for a kid, it is a really, like, really nice learning experience, really easy business to set up.

I think what makes the difference. Me different. I think what makes me different is just the way or some accounts in general different is just the way that we market and like our different recipesbecause we all do source the ingredients from different places, you know,the ingredients vary from Manufacturer to manufacturer and the slime textures always feel a little bit different but I think what makes it my company different from others is just like the ideas that I have because like I can make a belgian waffle slime And like I don't think it's necessarily like that.

I need to create like 10 solid products but I think what keeps my business interesting is the fact that I do weekly drops so there's like three anywhere between three and six slimes that drop every single week and I think Yes, they can. Like, let's say I do, like, a food theme one week and, like, I make a waffle slime.

Yes, the next person can go and make the exact same waffle slime, but I think by the time that they turn around and make a waffle slime, like, I'm already on to the next drop already. so it's kind of like, that feeling of like, Oh, Saturdays at 11 a. m. Sliimey honey is going to drop a new collection.

That's what keeps my customers excited. That's what keeps people interested in my company specifically. And even though, there is a lot of competition, there's like a lot of people that can do something similar. It's really like the ideas and the creativity that I bring to each week. That is what. Like sets me apart from others and just like the way I market it like the videos look really nice so that's kind of the main product differentiator I would say is like the marketing and the overall experience that you get with my company 

[00:15:24] Jay: and do you ever feel?

Anxiety of like having to create the next, you know, drop every single week. Or do you have like a bunch lined up for, you know, the future that, you know, you want to do? 

[00:15:37] Mark: Oh yeah. Especially like, I do on my breaks typically try to line them up for the entire quarter. So like summer break, I lined them up for fall.

but this. Especially this past, spring quarter at UCLA, I didn't have time over my break to line up the entire quarter. So, especially during finals week, it was like, Like getting really tough to like both study for my finals and also like, you know Think of some new products to drop. so yeah, there's definitely sometimes a lot of anxiety that comes with planning the drops just because I am only like creative.

I'm on my team. So it's just like it's all on me whether or not I drop or not But I feel like that's just the nature of business and like I usually get it done anyways So yeah, it's been fine 

[00:16:20] Jay: And what's next for Sliimey Honey? What's anything big on the roadmap that you're planning on doing? Any changes to the product?

Any, or is it just kind of, you know, just continuing to, you know, make your drops and do what you've been doing so well? 

[00:16:33] Mark: Yeah, so I am just trying to kind of expand my product line. I think I offer I think around like six or eight textures, but right now I'm working with a ton of different manufacturers to get a ton of new cool beads, into the slime shop.

I'm trying to get some glow in the dark materials to make glow in the dark slime, and then I'm also working on trying to like, Launch some sort of like ambassador program for customers to like post about Sliimey honey and then get paid for you know, The new customers that they bring in. so i've been working a lot this is like the only project I have for the summer.

So I really want to expand it as much as possible I'm thinking about all the Product launches that I'm going to be doing for the next few weeks. and also something that I've been trying to work on building is my subscription platform. So we have a subscription box where you can subscribe and get three signs every month.

And it's like a themed box. So this month was a Hawaiian vacation themed box. so there's a lot, of different things going on down the roadmap. I'm really excited for all the upcoming product launches too. and all the TikTok videos I'm going to make. 

[00:17:33] Jay: I love that. and I guess I have to ask, where do you get the scents for it?

What's the process of selecting a scent for your, you know, next drop you're going to do? 

[00:17:43] Mark: Yeah. so all of my scents are imported from, one of my, or we have two different manufacturers for scents because they carry different types of scents. and, yeah. But I would say like, a lot of the times the scents inspire the slimes, so let's say like I import a birthday cake scent, I'm like, oh, this is a great idea, let's just make a birthday cake slime, so sometimes the scents come first, and then other times if I have like, an idea where the scent, like, it might not necessarily like, A line, like, let's say I make like, I don't know, like a car slime.

I don't really have a car scent. So I would just like sent it something like similar to the color. So if it was like a red slime, I would just send it like cherries. but yeah, the sense are a super fun part. I think that's also what kind of makes me unique is like, yes, there's a lot of sense out there, but like my sense smell really good, so,

[00:18:29] Jay: All right, well, I have one more question for you, non business, non slime related.

if you could do anything on Earth and you knew you wouldn't fail, what would it be?

[00:18:40] Mark: Ooh, that's a good question. If I could do anything on Earth and knew I wouldn't fail?I honestly think like,I am naturally a more creative person and growing up, especially like with kind of like the expectation that you need to make a lot of money or you need to be successful in the future, that kind of revolves heavily around like the maths, the sciences of the world. And like, right now I'm studying economics in college, which is kind of similar.

But I think naturally I'm more creative, and like, ever since I was little, one of my goals was like, just to become a pianist, so my parents like, enrolled me in piano, I did like, competitive piano for like, 15 years, but I think I would just want to become a pianist, I think that's like, My ideal career path.

but you know, the stereotype is like, they don't make a lot of money. And so, it's just something I never tried, but yeah, I think I would want to become a pianist. 

[00:19:45] Jay: You can buy a lot of pianos with that slime money. So I think you'll be fine. 

[00:19:48] Mark: Oh yeah, definitely. 

[00:19:50] Jay: Just keep up the good work. It's always, Cool and exciting to see younger entrepreneurs that kind of hit their stride early, man.

So, I wish you the best of luck. You know, I know, all the people listening are wishing you the best of luck. If people want to reach you directly for something they heard today, how do they do that? 

[00:20:07] Mark: Yeah, so you can either DM my Slime account. I'm pretty much the only one that looks at the DMs. so you can DM me SliimeyHoney or you can reach out to me via email at SliimeyHoney at gmail.

com or even my personal email MarkJLin16 at gmail. com but yeah, I'm happy to talk to anyone who has any questions. 

[00:20:26] Jay: Beautiful. Well, we'll send all our young entrepreneurs to you and then there'll be millionaires and you know, they'll be happy. So, thank you for your time today, brother. We wish you the best of luck and, we'll talk to you soon.

Okay. 

[00:20:37] Mark: Okay. Thank you so much for having me, Jay. It's such a pleasure talking to you. 

[00:20:41] Jay: It was great talking to you, buddy. See you, man. 

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