24. G&M Cosmetics

Revenue: $8.38 million
Growth: 201%
Founders: Zvonko Jordanov, 55
Head office: Sydney
Year founded: 1996
Employees: 20
Industry: Retail and consumer products
Website: gandmcosmetics.com.au

Zvonko Jordanov founded G&M Cosmetics in 1996 with the aim of creating skincare products for the Australian market.

This is because he found European cosmetics to be too thick, waxy and heavy in the Australian climate.

Jordanov clearly capitalised on a gap in the market.

Today, the business turns over more than $8 million and has grown by 201% in the past three years.

G&M also employs around 20 people.

Asked what has been a major challenge for the business so far, Jordanov says dealing with major retailers can often be headache-inducing.

“We stand up for what our business needs to maintain the company’s corporate and brand integrity in the market by not being forced into market positions that diminish our objectives,” he says.

“Be very clear about what you want to achieve and why you want to achieve. Stay committed to the end target and don’t let negotiations confuse what your primary objectives are. It’s perfectly normal to compromise, but you can’t lose sight of your vision and why you are in business.”

As for how he motivates staff, Jordanov says it’s all about delegating projects and giving people the autonomy to think for themselves.