Working in a Family Business Can Be the Start of a Beauty(ful) Success Story

To the aspiring children of immigrants out there working at the local family business, your hard work could be setting the stage for a beautiful success story. Take self-made millionaire beauty mogul Toni Ko as a leading example. Ko came here from Korea at the age of 13. Growing up working at her parents’ retail beauty supply business built up a sturdy foundation and knowledge for her first venture into the beauty business: launching her own makeup brand, NYX Cosmetics, at the young age of 25. It’s no surprise that, after generating over $4 million in retail sales her first year, the business took off and she sold NYX to L'Oreal in 2014 for a reported $500 million. At the time, it was one of the biggest beauty acquisitions in history. Her latest venture: she is the founder and CEO of Bespoke Beauty Brands, LLC, a beauty incubator that launches beauty brands with celebrities, influencers and entrepreneurs. Since it was founded in 2019, the business has generated success and chatter in the beauty world after kicking off a collaboration with KimChi Chic—the larger-than-life Drag Queen from Ru Paul’s Drag Race—and legendary fashion designer Jason Wu. NYX’s New Makeup Line Lets You Put Tetris-Inspired Shades on Your Face ADWEEK: How did you get to where you are today? KO: It has been a very long journey, but I can definitely say that I can bury my bones in the beauty business. I started NYX in 1999 and ran the company until it was acquired by L’Oreal in 2014. Exiting NYX was one of the most significant and pivotal moments in my life. How do you foster strong professional relationships as you grow in your career? When it comes to my professional relationships, some are formal, and some are informal. I am a member of a business network called YPO and, although it's a professional network, I have made lifelong friends from the organization. I have also stayed in contact with my past employees from NYX and meet wonderful and interesting people all the time at events. Most of the time, we keep in touch in a very informal manner such as text message or staying in contact through Instagram or Facebook. What’s one way you’ve invested in yourself that’s had the most impact over the course of your career? What about within the past year? One of the biggest ways I have invested in myself is carving out to time to work out and I love pilates and yoga. I also meditate and eat very healthily, and the combination of those three is very powerful. Exercising for your physical health, meditating for your mindfulness and eating healthily for your gut health has been proven to be the ultimate high level of energy vibration [for me]. How do you view work-life integration, especially now, and what advice can you share with others who may be struggling with it? The thing is, I've been fortunate enough to create my career in an industry that I absolutely love and am truly passionate about, so work really never feels like work. It’s more like playtime for me. I know everyone is different and we are all uniquely individual and that may not apply to another’s wish for work-life balance. Figure out what you are great at and go find your career in that field. My advice: find joy in the work you do. It's all in the mindset and, if you decide to love what you do, you'll find love in it. Even with that mindset shift, if work is still a drag, then I think those individuals are in the wrong industry or field. Maybe you are an artist working as an accountant or a dancer working as a store manager, or a math whizz working as a publicist or a writer working as a security guard. There's nothing wrong with you or the job. What's wrong is who's at what job. Everyone has a unique talent and skillset, so figure out what you are great at and go find your career in that field. Usually, everyone is great at what they love to do. What advice do you have for other women on how to overcome typecasting at work? My advice for women is to be PROUD of being a woman. State your worth firmly and follow up with the delivery. It’s our world and men just happen to be in it. What’s one tip you can share or something you’ve learned on how to handle salary negotiations or raises? First and foremost, assess how your company is doing. If the company is not profitable, then asking for a raise is not going to work out well, so pick a year or time when the company is flourishing. And you know what's better than a salary increase? Stock incentives! Keep in mind that salary negotiation is not only about getting more money, and sometimes making more money might be a disadvantage because the new salary might put you in a higher tax bracket. A raise can be negotiated in the form of more paid time off, stock incentives, different allowances such as auto, gas, phone, meal, co-pay for further education or your children's education, etc. Be creative! Who has helped you in your journey and how did they help shape your career? Really, truly, my parents shaped me. My father taught me discipline and endurance, and my mom taught me everything I know in business. I think the key is to be mindful of everyone involved in every aspect of your business, from suppliers to staff to customers. I consider it a win when we all win together, so I never press my suppliers too much—nor my customers. What’s the single best piece of advice you’ve ever received? The best piece of advice I have ever received came from my father at a very young age. Repeat “I can do it” 10 times every day, or anytime things seem too hard and I feel like giving up. What does success mean for you? This may sound really clichéd, but to me success means having a healthy mind, body and soul. I will not participate in anything that will negatively affect my health, calm mind or peaceful soul. This applies to both my personal and professional life. HBO Max’s Jackie Gagne Is Letting Black Audiences Know They Are Seen, Heard and Valued

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Working in a Family Business Can Be the Start of a Beauty(ful) Success Story

Self-made millionaire beauty mogul Toni Ko shares life lessons and early beginnings

Luz Corona

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