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The Value of Fundraising and Negotiating with Allie Egan of Veracity Selfcare

January 20, 2022

Podcast: Play in new window | Download (Duration: 52:01 — 71.5MB)

Allie Egan is the Founder and CEO of Veracity Selfcare, a company that creates personal skincare routines based on real data about hormones and biofactors that impact skin and health. Allie began her career in investment banking and private equity, working at Stern Stewart & Co. and Greenhill & Co. She later worked with The Estee Lauder Companies Inc. and served as the CEO of the global lifestyle brand, Cynthia Rowley, before founding Veracity Selfcare. In addition to her role as Founder and CEO of Veracity Selfcare, Allie is a member of the boards of Rowan and Evolus, as well as an angel investor for Brilliant Friends, an angel investment group that supports businesses founded and led by women.

Allie joins us today to discuss what inspired her to take the mystery out of skincare and make it about real health. She shares how she conceptualized Veracity Selfcare while working as the CEO of Cynthia Rowley and underscores the importance of taking risks in the Entreprenista journey. She outlines how she sought and partnered with doctors to research personalized skincare. Allie also explains why fundraising is an eye-opening experience and highlights the value of learning to negotiate.

“You get better at fundraising over time. Part of the exercise is daunting, but it gives you clarity for what you really want and need for the business.” – Allie Egan

This week’s takeaways from Entreprenista:

  • Allie’s background and how she knew she wanted to be an Entreprenista
  • How Allie fell in love with the concept of building her own platform and brand
  • How Allie’s personal challenges became the inspiration behind Veracity Selfcare
  • Working full time while testing a business idea
  • What Allie felt about leaving a corporate job to start her business
  • The first steps Allie took after leaving her job and building Veracity Selfcare’s founding medical team
  • Allie’s advice for partnering with medical professionals and negotiating deals when starting a business
  • What Allie learned from raising funds for Veracity Selfcare
  • Figuring out valuation and what surprised Allie the most about the fundraising process
  • Why she decided to share her personal story while pitching to potential investors
  • What Entreprenistas can expect from Veracity Selfcare products
  • How Allie conceptualized and executed Veracity Selfcare’s brand
  • Why Allie doesn’t have go-to questions when interviewing job candidates
  • The importance of learning how to negotiate

Resources Mentioned:

Our Favorite Quotes:

  • “There tend to be higher thresholds for proving something for women in early-stage businesses—but you can’t let that get you down.” – Allie Egan
  • “True wellness is understanding yourself and the highs and lows of your personal health.” – Allie Egan
  • “No one can build a business by themselves. Ensuring that the people around you are the right fit both culturally and skills-wise is important.” – Allie Egan

Connect with Allie Egan:

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