I lost $30,000 on my first business. Two years later, I built a business worth over $9 million — these are the lessons I learned.

Michelle Hu says shutting things down when they're not working is key to a successful business.

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• Michelle Hu shares lessons from her failed beauty app and success with Étoile products.
• Étoile, a beauty accessories brand, grew after Hu focused on product-market fit and passion.
• Hiring experienced talent and adapting strategy helped Étoile reach over $9 million in revenue.

This as-told-to essay is based on a conversation with Michelle Hu...