Name: McKenzie Slaughter
Business: Beauty & The Bull
Location: Santa Monica, California, U.S.
Industry: Financial Services
Reason for starting? I was exposed to the stock market at a very young age. My first stock was McDonalds that my mother bought for my 5th birthday. My aunt ran an investment club with her best friends for over 20 years. And after years of working in the investment industry, I soon found it very difficult to openly talk about what I do and what I love so much with the women in my life because it made them feel uncomfortable. Watching many women struggle after the 2008 financial crisis, I felt it was my duty to share this knowledge with other women, help them understand how to invest and be confident enough to talk about it.
In 2012 I launched Beauty & The Bull to connect women to female-focused financial advisors via our digital magazine apps. Since the initial launch, we received a strong number of downloads for our digital magazine apps, and it was clear our global readers wanted more. So I have embarked on an ambitious mission to be a financial innovator and female investor. Our foundation is based on the idea that women do better when they support each other. The company is a safe haven community where women can participate in non-judgmental course correction while on their journey to financial independence. We are the first direct sales company for women and finance where members can sell our financial products centered around wealth-building and inspire other women in their community.
How do you define success? Success to me means achieving whatever goals you’ve set for yourself and inspiring others to do and achieve the same. Seems simple, but with all the distractions and financial responsibilities society has set for us, it gets more and more difficult to focus and work on things that matter to you (your purpose and passions).
Biggest success: My biggest success to date would be launching Beauty & The Bull the way I envisioned it from the beginning. We’ve made many pivots and had setbacks, but it came together in the right and in the right way. Second would be launching my venture capital firm, Prohaus Group, and our new $100 million fund for fintech and impact entrepreneurs.
Beauty & The Bull is an industry game changer by changing the way people manage their money. Gone are the days of having a stranger manage and build retirement portfolio. We empower people to do it themselves with the right tools. We are the first financial services company that hires people to promote, sell financial products without having securities licenses or certifications. We’re also the first direct sales company for financial services whose products are focused on women.
Related: Finding Financial Assistance
What is your top challenge and how you have addressed it? My biggest challenge so far is experiencing a financial setback during the startup/development phase by deciding to bootstrap and choosing not to take venture capital/funding. My team and I felt like that was the right thing to do in order to set up the business right to achieve sustainable long-term success.
Who is your most important role model? My current role models are the men who support women entrepreneurs and business owners. There are not enough men in leadership positions helping women achieve the same leadership positions and success. The men that do support are special, and I commend them. Definitely want to be like them one day, meaning being in a position of power and leadership to influence and support the next generation of women entrepreneurs.
Edited by The Story Exchange