This All-Female HBS Team Just Launched a Line of Luxury Skincare Products

Take a peek in your bathroom and count how many products you use for grooming. Now, how many of those products have ingredients that you can list off the top of your head? I honestly couldn’t think of one if you paid me.

We know so little about what we use to keep ourselves looking spiffy. Jessica Assaf, an MBA candidate at Harvard Business School, picked up on that at an earlier age. The longtime activist for safe, healthy beauty products has teamed up with some of her superstar classmates at HBS - Enke Bashllari and Katie Power - to bring consumers the most effective, luxurious skin treatments out there with a new brand called RAW Is Everything. And it’s all from nature.

When Assaf was 15, she - like most girls that age - started to play with makeup and become more interested in beauty. But it took little time for her to notice that many of the most marketed cosmetic products available were full of chemicals that did more harm than help.

“I realized through my own research that most ingredients in beauty products weren’t safe,” Assaf told me. “The FDA doesn’t require pre-market testing or approvals before products hit the shelves. So many ingredients have been linked to cancer, reproductive harm and neurotoxicity. That really scared me.”

“It’s an intimate thing to be rubbing something on skin and not knowing what’s in it,” she continued. “It became part of my identity to educate consumers about what they were using and, at the same time, promote safe alternatives.”

Since then, Assaf has been heavily involved in the cosmetics industry and activism, advocating consumer awareness about what exactly is in their favorite beauty products. She started a blog with Alexis Krauss called Beauty Lies Truth to spread the word about cosmetic safety concerns and potential alternatives, and it’s been going strong for nearly two years.

Those efforts were all well and good, but when Assaf came to Harvard Business School, she met equally as powerful female peers and that’s when the real movement started. As she put it, “When I started business school, I realized that I don’t have to spend all of my energy talking about the problem when I can help fix it.”

So Assaf teamed up with Bashllari - who has her PhD from Columbia University Medical Center and who invests in health and wellness companies - and Power - who’s a branding and marketing wizard. These women set off to do thorough research into which natural components were the most effective, safest means of treating common skin concerns that affect women. It took more than a year to examine and test different components, but they’ve pinpointed several potent oils that have been some of world’s best kept beauty secrets for centuries.

Currently, all of the products can be purchased on the startup’s site. But, soon enough, the line will be launching exclusively in luxury retailer Bluemercury’s stores throughout Boston and New York City. By that time, RAW - which has been bootstrapping since its inception - is hoping to position itself for raising a round of funding and the then-graduates will be dedicating themselves full-time to the venture.This female power team launched its RAW line a matter of days ago, and it’s already packing orders. It consists of four, single-ingredient products that range in price from $45 to $55, including its Age-Defying Concentrate (rosehip oil), Facial Moisturizer (passionfruit seed oil), Antioxidant Treatment (raspberry seed oil) and Clear-Skin Treatment (tanamu oil). The products are all sustainably sourced, unrefined and cold-pressed to ensure these oils retain their integrity, safety and efficacy.

The RAW ladies are also planning on getting out in the Boston community, staging pop-ups to start a dialog with women about their skincare, what they should be using and why they should be wary of the products pumped out by major retailers. Assaf explained that:

They scare you into thinking you have a problem that you don’t have. So much of the beauty industry focuses on short-term results, but no one thinks about long-term effects. Beauty is superficial so it’s easy to let people think that science can do it better. But there are even more effective, natural ingredients that have been used for hundreds of years. You don’t need invented ingredients. There’s a general trend of going back to the way things used to be, and I think that’s here to stay.

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Despite What Sheryl Sandberg Says, MBAs Still Matter

Facebook’s COO and, ironically enough, Harvard Business School alumna - has also voiced that MBAs are superfluous in tech. In a post on Quora last December, Sandberg had apparently written, “While I got great value from my experience, MBAs are not necessary at Facebook and I don’t believe they are important for working in the tech industry."

As these high-profile entrepreneurs have sworn off hiring MBAs, business school grads might be having the last laugh. Perhaps while PayPal’s Thiel views MBAs as sheep-like and having “herd-like thinking and behavior,” B-School grads may actually be more majestic than that: Unicorns.

According to analysis from NextView Ventures, 1 in 4 Unicorns has at least one founder who has an MBA. To be more specific, there are 63 MBA founders among the 157 Unicorns out there, which shows that some Unicorns have multiple founders with business school background.

Among all of the MBA programs molding Unicorn founders, Sandberg’s (as in the same Sandberg that said you don’t need a business degree to succeed in tech) alma mater, HBS, has been the most significant contributor, which could be due to the university’s large class sizes. There are 14 Unicorns that have HBS alumni as founders. That figure is followed by Stanford GSB’s contribution to the Unicorn realm - 8 companies with alumni - as well as Wharton and INSEAD (in France) with 5 startups started by grads.

So while the startup space can be more accessible to people without business degrees, it wouldn’t be fair to say that MBAs are completely useless. With the vast majority of ventures failing, having an MBA presence at 1 in 4 Unicorns - startups that are crushing it - might not be a coincidence. Anyone may be able to start a company nowadays, but it could take the business school touch to make a company successful.

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Business Loans

Since the global economic crash in 2008, lending standards have come under scrutiny as our government sought to make lenders more responsible. Until late 2013 this was making it hard for businesses (particularly small and medium sized businesses) to find a business loan. However things are much easier now and there are lenders out there that will lend money to eligible businesses.

Who will lend businesses money?

When you start your research you’ll find that there are no shortage of lending institutions out there. We strongly recommend that you do your homework and understand what good practice looks like in the world of business loans. Once you know what criteria you should be assessing a potential lender against, you’ll be on your way to finding a reputable lender whose credit terms are fairly structured and comply with government guidelines.

How much can a business borrow?

Business financing can be almost limitless for the right business with the right plan and right financial history. If you are just starting out or an established small business you’ll likely be looking for a more modest loan. The same principles will apply though and depending on how much you are asking to borrow and how established your business is, you will be asked for a fairly significant number of documents relating to your business.

What kind of documents could I be asked to produce?

If you have been in business a few years you will be asked for the following kinds of business documents:

• A copy of your lease agreement
• Complete business tax returns (for the last 3 years if available)
• Personal tax returns (for the last 2 years)
• Your business license
• Your partnership agreement (if applicable)
• Articles of incorporation
• Your operating agreement
• Interim balance sheet with a profit and loss statement
• Year end balance sheet with a profit and loss statement
• A business plan including projections for the year ahead & all expected operating expenses

What kind of loan can I get?

That will very much depend on your circumstances personally and business wise. A bank may ask you to secure your loan with collateral and that could be anything from cash to your company’s physical assets. Since the crash of 2008 there has been a significant increase in the number of business loans that are secured by collateral.

I am a small business owner are there any organisations that can help me specifically?

The government agency the Small Business Administration protects and oversees the interests of small businesses. Though it does not lend money to small businesses, it does provide some security to lenders that do. You will find lenders out there using the SBA in their marketing messaging - think of it as protection for you and protection for the lender. Any lender working with the SBA will lend to you only if you are creditworthy. The terms of the loans will be fair and the loan will be structured to meet government guidelines. If you are a small business looking to borrow up to $1 million, we definitely recommend looking for loans that are extended as part of the SBA program.

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Debt Management

What is debt management?

Debt management is all about proactively managing the debt you have. If your debt has gotten a little out of hand, you will want to start managing your debt before your lenders call in debt collectors.

What steps should I take to manage my debt?

You can choose two different paths. You can choose to manage the debt yourself by talking to all of your lenders about your circumstances and working out a plan with them. Or you could talk to a debt management expert.

What are the benefits of managing the debt myself?

If you manage the debt yourself, you know that there will be no further expenses associated with the process. A good place to start is to take a shot at creating a monthly budget. You’ll know how much you can afford to pay in monthly repayments and that will help you when you are talking to your lenders.

What are the benefits of consulting a debt management expert?

A debt management expert will take a look at your existing debt and help you with a monthly budget. They will also actively find ways to reduce your monthly payments. However, it is very important that you find a certified expert. Do not assume that everyone in this field has your best interests at heart, even if they are employed by nonprofit organizations. A local consumer protection agency should be able to recommend reputable debt management counselors.

What can I expect?

It is always cheaper for a lender to have someone paying back what they owe than someone who seeks bankruptcy. You’ll find that lenders will try to be accommodating in helping you with your debt problems. There may be times when they simply can’t help because you can’t meet their minimum payment criteria, but if you have a regular income then they will try and help. If you choose to consult a debt management expert you should expect some very practical advice to help you manage your money as well as some proactive assistance with your lenders. They will take into account all of the information you have provided and work with you to make your life, financially speaking, far more comfortable and manageable.

What would a good result be?

A good result would be that you do not lose any of your possessions, whilst your monthly payments are significantly reduced to ensure you can keep up with your monthly commitments.

Is there anything that I need to be careful of?

As we have already mentioned, make sure you find a reputable debt management expert to work with. Also, be aware that any debt that you renegotiate will have different repayment terms. This could mean that though your monthly repayments are more manageable now, in the long run, you end up paying far more for the credit line.

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Personal Loans

A personal loan is a loan that a financial institution (usually a bank) will make to you for a fixed period of time. The loan can be secured or unsecured.

Why take a loan and not use a credit card?

To protect your credit score you should not use more than 30% of your available balance on your credit cards and some experts even recommend using no more than 10%. With this in mind if you need a loan for a significant amount and do not want to affect your credit score organizing a personal loan is going to be a better option for your credit score.

How much can I borrow?

Much will depend on your income and your credit history. It’s important to provide accurate information when you complete your loan application since the lender can check your story against the records held by America’s 3 credit agencies. (Besides providing false information is considered fraud). Banks will loan generally loan anything from a few thousand Dollars up to $100,000.

What are the benefits of taking a personal loan?

If your loan is unsecured there are no upfront fees for taking a loan. The bank or lender make their money from the interest you pay them over the life of the loan. With this kind of loan, you can secure a fixed interest rate for the life of the loan. This means there is no risk of your monthly payment increasing if interest rates start to rise.

What advantage would there be to taking a secured personal loan?

A secured personal loan is a loan where you put up something that you own as security for the bank or lender. The advantage of offering the bank or lender security is that your annual percentage rate (effectively how much you pay the lender each year for the privilege of the loan) will be lower. However, it also means that if you are unable to make the monthly loan repayments, that the bank will take whatever security you have offered. We only recommend this kind of loan if you know that you can make the monthly repayments for the life of the loan without any problem.

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Reevaluating your small business’ group life insurance plan

Better rates are generally given to larger employers because of the amount they collect in premium, versus that of smaller employers who don’t collect as much. Tiered life insurance policies also typically remain with larger employees, due to the fact that they are better able to afford them. Regardless of the size of your company, it is important to reevaluate your group insurance plan regularly.

A group life insurance plan should be reevaluated and reassessed when your company grows significantly, hires executives with larger salaries, increases in number of employees, the demographics of the employee population changes, or when it improves previously offered benefits. By checking back with your broker as your business grows, you may be eligible for a lower life insurance rate.

When looking for a new or different insurance plan, there are a few different options that an employer can look towards. The first and most basic life insurance plan typically covers one year’s worth of salary. The next step up would be to expand your benefits with a plan, such as a group universal life insurance plan, which can offer two to three times an employee’s salary, as well as offering a portability feature which allows the employee to remain covered after they leave or retire. A group universal life insurance helps build cash towards future premiums, but is generally offered by companies with over 1000 employees, because the cash value account must be individually managed. Also, the employees are permitted to pay in as much, or as little, as they want.

The classification of the employee is also a determining factor when thinking about separate group life insurance plans. For example, an employer may choose to do a flat death benefit payout for certain workers, where as those who hold higher positions (i.e. managers, supervisors, etc.) receive benefits equal to one to three times their salaries.

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The Different Types of Business Insurance That Are Available

If you’re a small business owner, one of the most important considerations that you have to make will deal with the type of insurance that you offer to your employees. Not only will there be situations where you cannot or should not offer coverage, but it’s also important to keep in mind that you cannot reimburse for individual health plans. There are a number of different types of business insurance that are available for you to choose from depending on your needs.

Business Health Insurance 

No two employees are created equally – this is never more true than it is when you begin to take their health into consideration. Each employee (and their respective family members) will have their own unique considerations, which is why it is important to NOT opt for a “one size fits all” plan from your provider. Instead, engage your employees and take their feedback into consideration. Try to find a plan that you can custom design to fit the needs of the group, instead of trying to force the needs of the group to work within the confines of the plan that you’ve selected after the fact.

Health Savings Accounts

One type of business insurance that has become increasingly popular over the last two decades is the health savings account, or HSA. For individuals who are enrolled in an HDHP, or “high deductible health plan,” they can open a medical savings account with a number of tax advantages that they wouldn’t get from other types of plans. Deposits into the account can be made by either the employee in question or by the employer and can be made on a pre-tax basis. The money in the account is then to be used to pay for things like medical bills and other unforeseen expenses related to their health. One of the primary advantages is that the money continues to roll over each year and does not “expire” in the event that it goes unused for any specific period of time.

If you run a small business with two to 20 employees and are looking for the best and most cost effective business insurance plans around, please call Bernardini & Donovan Insurance Services today for more information. We’ll help cut through all of the confusion and unnecessary information so that you can have the peace of mind that comes with knowing that your employees are well protected in the event that something unfortunate should unexpectedly happen.

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