Author: Alison Fiorenza

Alumni Q&A: Alissa Bayer, MBA ’04

Alissa Bayer, owner and founder of milk + honey day spa, shares updates on her recent business ventures and reflects on her MBA days—where she first started working on the concept for a spa. Alissa joined a panel discussing the next wave of entrepreneurship and innovation for our Homecoming Weekend Alumni Business Conference a few weeks ago; thanks for your continued engagement with the Texas McCombs Alumni Network, Alissa!

How did your educational experience change you?
I studied philosophy and literature as an undergrad, so business school was great for me—there were so many things I didn’t know that I didn’t know! I really loved the case study method; as with many things there is no right or wrong answer, and learning from other people’s situations and outcomes is so easy to assimilate. In the early years of milk + honey, I regularly called upon lessons learned from those case studies to help me make better business decisions.

Please provide a brief summary of your career path since graduating.
I started working on a business plan for a spa as an independent study class during my last semester. After graduation, it took about 18 months to round up the debt, finalize the lease, and get the first spa designed and constructed. Within our first year, we signed a lease for our second location. Within two years, we launched our salon concept. In 2013, we introduced our line of hyperclean (non-toxic) bath and body products. This spring, after 6 years of R&D, we launched our own skincare line, which was formulated in close partnership with our team of amazing estheticians.

I’ve bootstrapped the business entirely on my own until last year, when I sold a small amount of equity in order to speed up our growth. Today, we have six locations, about 500 employees, and two Los Angeles projects in development, and our product line is sold at major retail partners including Neiman Marcus, Free People, Ulta, and Whole Foods.

What are you most proud of in your career so far?
I am most proud of the amazing community that has been created at milk + honey. Life-long friendships, marriages, and new entrepreneurial ventures have been created by our team. Our team really takes care of one another, and I love that I was able to help bring these amazing people together. I’m also very glad that milk + honey has been able to give back to the community. At milk + honey, we define our success not just by increasing ‘shareholder value,’ but by also increasing value for our employees, guests, vendors, and community. We call it the Virtuous Cycle, and when we focus on taking care of our team—with health benefits, 401k, paid vacation, a positive and professional management experience, and a happy office culture—it makes it easy for our team to take great care of our guests.

Has your career played out the way you expected?
I have three young children (ages 6, 8, 8), and it took me four years of intense fertility treatments to have my children. So really for the past 12+ years, my energies and attention have not been entirely on my business. Now that all of my kids are in school, I have a lot more time and bandwidth to focus on the business, which is why we were finally ready to take some outside investment.

How have you stayed involved with the school as an alumna?
Over the years, I’ve enjoyed participating in many events on campus. I love meeting with the BBA and MBA students and sharing my experiences. On occasion, I’ve also been able to participate as a judge with Texas Venture Fellows and various panels and discussions during homecoming events. My office is just a mile away from campus so it makes it easy.

How have you personally benefited from being a part of the network?
I have the most amazing group of friends from McCombs—they have been my biggest supporters over the years and I am so grateful to them. I’ve also found that anytime I need some help or expertise, the Longhorn network is strong, vast, and generous. I feel truly lucky to be a part of such an amazing group of humans.

What are your goals for the future, career wise and in relation to McCombs?
We plan on growing milk + honey rapidly in the next several years. Last year’s fundraising was very informal and did not involve any roadshows or even pitch decks. In the next two years or so, we plan on raising around $30M to continue opening more spa locations and continue growing our product brand. It’s an exciting time!

Alumni Q&A: Seattle Chapter Leaders Beth Hood, MBA ’18, and Eric Strow, MBA ’16

From their MBA days to the current hustle-and-bustle of working at Amazon, Seattle Chapter Leaders Beth Hood and Eric Strow share what they value most from their time at McCombs and how they’ve used those experiences to leverage success in their post-MBA grad careers. As chapter leaders, Beth and Eric have built up the Seattle chapter through an increase in networking opportunities, volunteer leaders, and hosted social gatherings—one recent event they hosted, the Seattle Summer Celebration, was a huge hit with Seattle alumni and current McCombs students interning in the city. Thanks for all your great work as chapter leaders, Beth and Eric!

Please talk about your experience as a student here at McCombs. Why you came here, groups you were involved with, favorite class/teacher, etc.

Beth: I choose McCombs because I was a previous graduate student at the University of Texas (in the Mathematics program from 2011-2013) and knew the rigor and high standards across all UT graduate programs. We are also a collaborative program with many opportunities and programs to help shape whatever kind of career you’re looking for.

I want to give back to my community when I can, and was involved in a lot… I was the Alumni Affairs Chair for the Graduate Business Council, co-founder of the MBA Wellness Collective, Member of Graduate Women in Business and the McCombs Ambassador Committee, mentored BBAs in the Women’s Case Competition and mentored for the Intellectual Entrepreneurship Pre-Graduate Internship program, participated in the Texas Venture Labs class and Entrepreneurial Pitch Competition, and two MBA+ projects.

I concentrated in business analytics and really enjoyed Maytal Saar-Tsechansky’s Business Analytics and Data Mining course, but thought all of our core curriculum professors were outstanding and benefited from them all.

Eric: It sounds cheesy, but I came to McCombs because of the unique culture of our MBA program. Students here have a genuine interest in helping one another achieve their goals, and in building a strong community during our two years in Austin as well as a network to stay connected with after we leave. I was also drawn in by the entrepreneurial aspects of our program, and the ability to join groups like Venture Fellows and interact with the vibrant Austin startup scene (which is extremely welcoming toward McCombs students.) To top it off, it helped to know I’d have Austin’s warm weather, live music, tacos, barbecue, and craft beers to enjoy outside the classroom.

As a student, I was able to learn first-hand from entrepreneurs and investors as part of Venture Fellows, combining the classroom experience with an internship at Dreamit. I also built a network of like-minded students through the Graduate Business Technology Group and Entrepreneur Society while pursuing some personal interests as Co-President of the Sports, Entertainment and Marketing Association (SEMA) and the MBA Brew Club, hosting forums with professionals across industries (and a homebrew competition). This goes to show you, there’s no limit to what you can get involved in while at McCombs.

Some of my favorite classes were those that helped me develop a more global mindset. I took full advantage of McCombs’ opening doors to learn while traveling the world, taking the Global Connections class Social Entrepreneurship in South Africa that involved a trip from Austin to Durban and Cape Town to meet with incredible people building unique companies with a mission to give back. I also did a study abroad semester at the University of New South Wales in Sydney, meeting MBA students from all over the world (full time and other exchange students).

How did your educational experience change you?

Beth: Before the MBA program, I had the technical skills, but not the business acumen or leadership experience to take on new roles or career paths. My MBA opened up a lot of doors and gave me the credibility and experience I was lacking.

Eric: In addition to fine tuning the hard skills that are important to any career in business, my MBA education was full of lessons on empathy and compassion, as well as prioritization and making difficult decisions. It was a well-rounded experience that in my opinion leaves alumni better prepared for whatever challenges lie ahead, regardless of industry or function.

Please provide a brief summary of your career path since graduating.

Beth: I interned with Amazon as a Sr. Product Manager while enrolled in the MBA program, and joined full-time in 2018 after graduation.

Eric: I came to McCombs after a career in financial services consulting with EY based in New York. Since graduating in 2016, I’ve been in product management with Amazon in Seattle, launching products such as Prime Book Box (subscription service for children’s books) and Personal Shopper by Prime Wardrobe (fashion styling service as a Try Before You Buy program). Amazon is a place where you can move around the company every few years, and I’ve grown in my career here by taking on more scope and developing more technical skills with each new role at the company.

What are you most proud of in your career so far?

Beth: I was promoted to a Sr. Product Manager- Technical within 6 months of joining Amazon full-time, as a result of leveraging my background in mathematics and my MBA.

Eric: It’s been extremely rewarding to see the impact of the programs I’ve helped launch at Amazon, and knowing that these products are making customers’ lives easier is something I’m definitely proud of.

Has your career played out the way you expected?

Beth: The quick promotion exceeded my expectations and has encouraged me to push boundaries.

Eric: It certainly isn’t what I expected when I first came to McCombs. I was pretty certain there was no way I would join a company even larger than the Big Four firm I left, and yet I landed at Amazon. But, I didn’t have too fixed a plan outside of using the MBA to transition into the tech sector, and I don’t think I’d have moved to Seattle and joined Amazon if it wasn’t for my decision to go to McCombs and leverage our campus recruiting opportunities. Each step of my career has built on the one before it, and in that way, you could say it’s going to plan.

How have you stayed involved with the school as an alumnus?

Beth: Eric and I help coordinate alumni events in the Seattle area, as well as host our McCombs Seattle Tech Trek.

Eric: I’m involved in Amazon’s efforts recruiting McCombs MBA students, and I also stay engaged with other alums at the company through organizing events for McCombs interns and new hires, and hosting students who come as part of McCombs’ career treks. Outside building the McCombs-Amazon connection, as one of the leaders of the McCombs Alumni Seattle Chapter, I help plan events for the local alumni base, and engage with the school’s MBA Advisory Board to bring news and information from McCombs up here to share with alums. We’re trying to build up the Seattle Chapter to have more volunteer leaders, create more networking opportunities, and host faculty for speaking events while continuing to have social gatherings to welcome new alumni that move to the city each year.

How have you personally benefited from being a part of the network?

Beth: I benefited a lot as a student with the great alumni network that Texas McCombs has created, especially seeing the empowered women that we produce; I view my current role as an alumna as giving back and helping to grow and strengthen the program.

Eric: For me, the decision to move to Seattle after grad school was made much easier knowing there was such a strong McCombs network here. Having a built-in social circle of classmates from my time in Austin who moved here, as well as alumni from previous classes who’ve helped me navigate my career, has been an incredible benefit from my MBA that keeps paying dividends years after graduation.

What are your goals for the future, career wise and in relation to McCombs?

Beth: I hope to be an ambassador to the benefits of the business analytics concentration program, and push McCombs to continue to build out the program.

Eric: I am passionate about building products and experiences that make life easier and more fun, and so far this career routing through product management allows me to achieve that goal. Right now my plan is to continue growing and advancing in product management, which is a field that many McCombs students are interested in, so I’d like to help the school ensure we are a top destination for product-minded students and recruiters/hiring managers.

Any other community involvement, hobbies or tidbits you’d like to share?

Beth: I stay involved in mentorship opportunities for women and young girls, and recently got involved with “Built By Girls” in the Seattle area. I’m new to the organization but excited to see where it leads!

Eric: Last year I finished my quest to go to all 30 active Major League Baseball stadiums, so I’m starting to work through some new travel lists, like visiting all 50 states and all 7 continents. We’ll see about actually getting to Antarctica, though.

Alumni Q&A: San Antonio Chapter Leaders Dan Crites, MBA ’08, and Hunter Stanco, MBA ’08

San Antonio chapter leaders, Dan Crites and Hunter Stanco, have spent the last few years revitalizing their chapter through supportive leadership and an assortment of engaging activities. With a focus on improving the local business ecosystem, Dan and Hunter have strengthened the Texas McCombs Alumni Network in San Antonio and its connection to the school. They recently took the opportunity to reflect upon their successes as chapter leaders and to share their goals for continuing the chapter’s meaningful programming.

Please talk about why you stepped up as leaders for the McCombs San Antonio Alumni Chapter and your general experience as leaders.
A little over three years ago, we attended a local Professor Speaker Series event with John Doggett. The alum that coordinated the event at the time recognized the need for a stronger Texas McCombs presence in San Antonio.  Realizing the chapter had gone dormant, we sought to fill the leadership void with the intent to rebuild the Texas McCombs network and create a positive impact on the San Antonio community.

While he was an undergraduate in Austin, Hunter was the associate editor for The Daily Texan.  Hunter frequently judges the final round of the Evening MBA Capstone Challenge and maintains close relationships with McCombs leadership both in Austin and San Antonio.

Dan served over 8.5 years of Active Duty in the US Navy as a naval flight officer, enjoying multiple operational deployments as well as US Army and Air Force cross-service assignments.  Dan is also a recent alum of Leadership San Antonio (LSA) Class 300 sponsored by the San Antonio Hispanic Chamber of Commerce.

Describe a recent chapter event or activity that you thought went well.
In late 2017, we hosted what we like to call one of our “Education Series” on the topic of Blockchain.  We try to focus on emergent and potentially disruptive technologies impacting the San Antonio business ecosystem while featuring subject matter experts from McCombs faculty, alumni, and local business leaders.  With the Blockchain event, we felt we were well ahead of the buzz in educating our community.  In fact, the same forum was replicated later by the school in 2018 when they hosted a Blockchain conference using the same panelists.  Here is a quote from one of our attendees:

I attended the McCombs School of Business event today at the Witte, and enjoyed the company of an impressive group of individuals.  I must admit that I did not comprehend much of the presentation (too deep for me), but I am pleased to be exposed to the subject of Blockchain because I can now ask my son or my grandson to explain to me what this means, and when it will be coming down the road.

How have you personally benefited from being a part of the Texas McCombs Alumni Network?
The Texas McCombs Alumni Network has allowed us to expand our personal and professional networks beyond what we could have arguably achieved through other business networking organizations.  We have remained attuned to what is occurring at the McCombs School and built stronger relationships because of it.

How would you recommend that alumni get involved with their local chapter?
It’s never too early to start.  One way we have been encouraging alumni to get involved is before they even graduate.  We have been leveraging the Working Professional Program Directors to promote our events and have seen strong attendance from the current students who have proven to be engaged and eager to get others involved.

What are your chapter plans or goals for the future?
Create a vibrant and involved chapter with community leadership opportunities and a well-defined succession plan.  One of our more ambitious goals is to generate traction for an annual fundraising event dedicated to local initiates with ties to Texas McCombs.

Six Student Projects Receive Funding from the MBA Alumni Endowed Excellence Fund

This past May a committee of four MBA alumni, two MBA students, and two MBA staff representatives came together to review funding proposals for student projects set for the 2019-20 school year. The funds come from an endowment established by MBA alumni in 2005—the MBA Alumni Endowed Excellence Fund (MAEEF). This yearly awarding process is the most direct way that alumni invest in students and the legacy of the MBA program.

This year the committee awarded $25,000 to support a wide variety of projects:

The Graduate Consulting Group will host its first Consulting Alumni Reception, which aims to connect alumni across class years and consulting firms to help elevate McCombs’ strength and stature within the consulting industry. With the support from the MAEEF and the MBA Leave a Legacy Endowed Excellence Fund, the group will launch and pursue an engagement strategy that facilitates a closer connection between campus and consulting firms and mirrors the best-in-class approach of other competitive MBA programs. This support enables the group to deepen relationships that are critical to the long-term success of the McCombs consulting program.

The Health Innovation Fellows will use the MAEEF funds to move forward with the MBA Healthcare Association Case Competition. The funds will support their efforts to expand healthcare offerings, improve their partnership with other graduate programs on campus, and help to enhance preexisting relationships with healthcare companies.

Texas Veterans in Business intend to utilize their MAEEF funds to increase veteran community engagement and build greater inclusion within the McCombs and Austin community. The group intends to direct these funds to a few particular events:

  • VetX Talks: The intent of this event is to engage the community through shared veteran experiences and lessons learned, with the hope to help build understanding and increase rapport. The hope is to expand future iterations to the wider MBA community and the university veteran community.
  • Leadership Speaker Series: In conjunction with the Program Office, the group intends to sponsor one of the Leadership Speaker Series events for the upcoming year. The opportunity would allow them to bring in a relevant and respected speaker who has spent a portion of their career in federal service serving in one or more noteworthy leadership roles. They hope to engage the MBA population at large and to include members of the part-time and executive programs, helping to build cohesion through this collaborative event.
  •  Miscellaneous events: Throughout the year, the group intends to host a few events to help build camaraderie within the veteran populace at McCombs while still fostering a sense of community. This includes opportunities such as a Veterans’ Welcome Event and MBA Coffee to take place the week prior to Veteran’s Day.

Net Impact will bring together social impact leaders from across the McCombs and Austin communities and engage them in an important discussion about the intersection of business and society in today’s changing world. With the MAEEF funds they will host a summit and create a space for leaders and students to engage in this conversation in the hopes to elevate social impact among the McCombs classes of 2020 and 2021, and the Austin community as a whole.

The Graduate Business Council (GBC) will host a series of ongoing McCombs Wellness Activities. With their awarded MAEEF funds they propose to bring these activities to McCombs students in the fall:

  • PeaceBox with a self-serve guided meditation
  • Sunrise yoga in the courtyard with a Wanderlust instructor
  • Morning boot camp organized by the GBC and Texas Veterans in Business
  • Lunch & Learn with Rob Wagner
  • Cooking class for wellness organized in collaboration with the Food & Beverage Innovation Club

The McCombs Consortium Chapter will host the McCombs Diversity Conference for its second year. The conference exposes students to the challenges that occur within the diversity and inclusion spaces in corporate America and provides real world strategies to solve them. The MAEEF funds will provide the Consortium Chapter the opportunity to source and provide the best quality speakers, to create content so that the Austin community can get involved, and to partner more closely with smaller local businesses. Their goal for this year is to provide positive press and exposure to McCombs through the lens of diversity and inclusion, leading to hopefully higher URM enrollment.

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