The bond between mothers and daughters is one of the most powerful that can exist—and for a few members of the Forbes 50 Over 50 list, that bond is fueling entrepreneurial growth.
hat do make-up brand Anastasia Beverly Hills, snack company SkinnyDipped and coaching platform Medley have in common? One-half of each founding team appears on2022 and 2023 50 Over 50 lists of women finding their greatest success at age 50 and beyond. But they're more than female founders: They are mothers who founded companies with their daughters.
In 2012, when Val was in her fifties, the family was blindsided by the untimely death of a close family friend. Reconsidering her life’s priorities, she found herself wanting to spend more time with her daughters. While Emma was away studying at University, Breezy, about to turn 25, was closer, had time to spend and, moreover, an idea: creating healthier versions of the chocolate-coated almonds they bought at the grocery store.
Those numbers don’t tell the full story of building the company, though. In the earliest days, Val calls their business dynamic"very typical mother, daughter." They needed about six months to set rules and get to a point where they could appreciate each other's skill sets, rather than be annoyed by them. Val admits that it took her a while, but today she knows her daughter’s motivation and charisma made her a natural fit to be the company’s CEO.
To other mothers and daughters aspiring to go into business together, “Take a breath up front and talk about where you're headed,” Val says. “Divest from your own ego and really know what each one of you brings to the table.
That collaboration has resulted in raising a total of nearly $5 million in funding, including a $3.7 million seed round in 2021. But moreover, they’re staying agile: In response to inbound demand, they evolved from a direct-to-consumer focus and launched an offering for businesses who want to provide coaching to employees. LinkedIn is among its clients. After just 9 months in-market, Medley has grown revenue by a factor of three.
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