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This week, we’re shining the spotlight on the talented and influential beauty expert, Dr.
“I want people to feel like they’re doing something meaningful, something that’s going to make a difference in their lives and in the world.”
The Power of Authenticity in Business
Thompson’s approach to business is built on the principles of authenticity and community-driven innovation.
She is determined to make a difference in the beauty industry.
The Power of Representation
As a pioneer in the space, Thompson feels the weight of representation. She is determined to make a difference in the beauty industry by providing products that cater to a diverse range of skin tones and types.
LYS Beauty Secures Series A Funding
LYS Beauty, a popular beauty brand, has secured Series A funding from Encore Consumer Capital.
But, she says, “I wouldn’t trade it for the world.”
The Challenges of Raising Capital as a Black Woman Founder
Raising capital can be a daunting task for any entrepreneur, but for Black women founders, it can be particularly challenging. According to a study by the National Minority Supplier Development Council, Black women-owned businesses face a 27% lower success rate compared to their white counterparts.
Know your value. Know your worth in the capital markets, Thompson emphasizes. You have to be able to articulate your vision, your strategy, and your financials in a way that resonates with investors.”
Understanding the Funding Landscape
The funding landscape for Black entrepreneurs is complex and multifaceted. It is shaped by a variety of factors, including systemic racism, lack of access to capital, and limited networking opportunities. • The lack of diversity in the venture capital industry is a significant barrier to entry for Black entrepreneurs. • Historically, venture capital firms have been slow to invest in Black-led companies, and when they do, it is often in the form of smaller investments.
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