Building A Beauty Empire - Natalie Mackey - Winky Lux - Episode #60

What happens when you jump from a career in finance to tackling the beauty industry? In this episode, Natalie Mackey shares her reflections on building Winky Lux, from bootstrapping to private equity. 

She opens up about the importance of core values, the challenges of fundraising as a female founder, and the lessons she learned navigating through different growth stages.

Takeaways:

• Importance of Core Values: Natalie emphasizes the transformative impact of clearly defined core values in the evolution of Winky Lux. The company started with general ideals, but crystallizing specific values became vital as the company scaled.
• Consumer-Centric Approach: A pivotal moment in Winky Lux's development was the decision to pivot from a marketplace to a full-fledged brand. This shift was entirely consumer-driven, based on insights gathered from direct customer interactions.
• Fundraising Challenges: Natalie candidly discusses the journey of fundraising, particularly as a female founder. Despite the competitive landscape and systemic biases, she underscores the importance of perseverance and strategic financial planning.
• Brand Aesthetics and Market Trends: Natalie delves into the significance of aesthetics in the beauty industry. She describes Winky Lux's vibrant, art-inspired branding, which aligns with current market trends.
• Embracing Community and Collaboration: Natalie credits a considerable part of her success to the entrepreneurial community, highlighting how networks like YPO foster invaluable support and collaboration.

Quote of the Show:

• “I don't mind swinging and striking out, but I really, really, really hate not having swung." - Natalie Mackey

Links:

• LinkedIn: https://www.linkedin.com/in/natalie-mackey-15169370/  
• Website: https://winkylux.com/  

Ways to Tune In:

• Substack: https://notanotherceo.substack.com/
• Spotify: https://open.spotify.com/show/1NQ9oAB2XKlgWeL8iEQXg0 
• Apple Podcasts: https://podcasts.apple.com/us/podcast/not-another-ceo-podcast/id1751581707 
• YouTube: https://www.youtube.com/@NotAnotherCEOPodcast 
• Transistor: https://podcast.notanotherceo.com/ 

#NotAnotherCEO #BusinessSuccess #WinkyLux

Chapters:

00:00 Intro

01:23 Core Values and Company Culture at Winky Lux

11:28 The Importance of Customer Feedback

24:38 Challenges and Insights in Fundraising

33:32 The High Stakes of Venture Capital

35:06 The Changing Landscape of Entrepreneurship

36:37 The Role and Structure of YPO

40:00 Challenges and Resilience in Business

45:03 Future Prospects for Winky Lux

48:17 The Journey from Finance to Entrepreneurship

51:27 Mentorship and Community Support

59:11 Final Reflections and Advice

1:00:55 Outro