Gregg Renfrew, founder and CEO of billion-dollar clean beauty startup Beautycounter, says that financial necessity was a driving factor behind her success. In a recent interview with CNBC, Renfrew admitted that after graduating from college, she found herself in financially dire straits.
Her mother gifted her with a check of $5,000 alongside a briefcase as her graduation gifts, but there was no promise of further financial aid. Renfrew soon found herself laden with credit card debt after moving to New York City and having to face the truth that her mother, who was a real estate executive, wouldn’t offer any additional financial support.
The fiscal responsibility forced Renfrew into hustling. “It forced me to start hustling,” Renfrew said. She immediately sought new job opportunities, leading her to Xerox Corporation’s sales training program. This hustle, she maintains, has been a significant influence on her successful career trajectory.
Between settling her debt and performing as one of Xerox’s top salespeople, Renfrew started a side hustle with a friend, selling bridesmaid dresses. This side hustle eventually expanded into The Wedding List, a bridal registry business that sold to Martha Stewart Living Omnimedia in 2001.
From her time as a college student, Renfrew learned the value of financial independence and self-reliance. Notably, when she wanted to enroll in the Semester at Sea program, her parents asked her to fund it herself, leading her to start a house-cleaning service to raise the required funds. This initiative, as well as the financial burdens she was forced to carry, laid the groundwork for her career in business. Renfrew believes that learning self-reliance from such a young age is a valuable life lesson.
The multi-millionaire entrepreneur is a reflection of her parents’ teachings, which stressed the importance of standing on one’s own, independent of anyone else, including any potential future life partner.
