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From Local Gifting to Equity Crowdfunding: Mackenzie Loy's Mission to Close the Wealth Gap
Building Bridges: Storytelling and Entrepreneurship as Tools for Equity and Impact
Dumi Mabhena
November 19, 2024
From Local Gifting to Equity Crowdfunding: Mackenzie Loy's Mission to Close the Wealth Gap
In a world where entrepreneurship and social impact often seem at odds, some visionaries manage to bridge the gap, creating businesses that not only thrive but also drive meaningful change. Meet Mackenzie Loy, founder and CEO of Homemade in DC and creator of The New Majority, whose journey from corporate sales to mission-driven entrepreneurship offers valuable lessons for aspiring founders and impact-driven individuals alike.
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Roots in Entrepreneurial Thinking
Mackenzie's path to entrepreneurship wasn't a straight line, but the seeds were planted early. She recalls:
"In retrospect, especially as I've kind of embarked on this founder journey over the last couple of years, I've realized I've had amazing examples in my parents."
Her mother, an accountant turned fractional CFO for small businesses, and her father, a university professor who launched impactful community programs, modeled different forms of entrepreneurship. This background instilled in Mackenzie a crucial lesson:
"If you see a problem, you should do something about it, right? Take the initiative, and you should always be kind of looking around, seeing who's doing what, how can we help, how can we improve upon that."
The Birth of Homemade in DC
Homemade in DC emerged from Mackenzie's desire to address the racial and gender wealth gap through business. The company is an online marketplace offering corporate catering and custom gifting, sourcing everything locally from women, people of color, and LGBTQ entrepreneurs and small businesses.
Mackenzie explains the evolution of the idea:
"We're going from trying to connect the small businesses and bring them to corporates for customers. That's kind of where the Homemade in DC really became... an online marketplace that connects these small food businesses to big corporates who are looking, yes, for amazing products, but then also to source thoughtfully, locally, from small businesses."
This model not only supports local entrepreneurs but also provides a unique value proposition for corporate clients looking to make a positive impact through their purchasing decisions.
The Power of Storytelling in Business
One of the key strategies Mackenzie employs is leveraging the power of storytelling to connect customers with the impact of their purchases. She developed impact reports to showcase the real-world effects of corporate orders:
"Our impact reports were born out of trying to share not just, you know, this is how much you spent locally... but then the story, the personal story that had that impact. That's the thing that we push along because that's the thing that people remember."
This approach transforms a simple corporate gift into a meaningful gesture that reflects company values and supports local communities.
The New Majority: Democratizing Investment
Alongside Homemade in DC, Mackenzie launched The New Majority Podcast, a platform aimed at making it easier for everyday "new majority" investors (women, BIPOC, LGBTQ+) to invest directly in founders who look like them. The idea stemmed from her interest in equity crowdfunding and her graduate school thesis on its potential to diversify entrepreneurship.
Mackenzie explains:
"The theory is, if you can diversify the investors, the people funding, right, you're more likely to invest in what you identify with. And if we can diversify that group, we would end up with a more diverse group of founders getting funded."
Through The New Majority, Mackenzie curates investment opportunities and provides educational content to empower new investors, aiming to close the racial and gender wealth gap through entrepreneurship and investing.
Challenges and Learnings
Like any entrepreneur, Mackenzie has faced her share of challenges. With Homemade in DC, the constant evolution of the business model and finding the right message for customers has been an ongoing process. For The New Majority, reaching the right audience of potential investors has proven difficult:
"The thing that I find most frustrating is, I know this group's out here, this group's out here. I want to build those connections, and it's how to reach... the new majority investors who are just sitting at their computers... looking for their next opportunity but they just don't know how to get involved."
Despite these challenges, Mackenzie remains committed to her mission, continuously adapting her approach and pushing forward.
The Joy of Working with Founders
When asked about her favorite aspect of her work, Mackenzie's passion for founders shines through:
"What I have learned is, I love founders... I just think we're the coolest. I think we're inspiring. I think we're daring... We're out here, and we're just kind of trying and putting our hearts on the line."
This enthusiasm for the entrepreneurial spirit drives Mackenzie's work and fuels her desire to support and amplify the stories of diverse founders.
Key Takeaways for Aspiring Entrepreneurs
Look for problems to solve: Mackenzie's journey shows the importance of identifying gaps in the market and creating solutions that align with your values.
Leverage the power of storytelling: Connecting customers with the impact of their purchases can differentiate your business and drive meaningful change.
Don't be afraid to evolve: Both Homemade in DC and The New Majority have adapted over time based on market feedback and new insights.
Embrace education as part of your mission: Mackenzie's focus on explaining investment terms and concepts in The New Majority demonstrates the value of empowering your audience with knowledge.
Persist through challenges: Despite moments of doubt, Mackenzie's commitment to her vision keeps her pushing forward.
Recognize the value of your background: Mackenzie's early exposure to different forms of entrepreneurship through her parents shaped her approach to business.
Looking to the Future
Mackenzie's vision for the future is ambitious and impact-driven. For Homemade in DC, she imagines:
"Wouldn't it be cool if within, you know, 5 years, we've got homemade hubs across the US... And it becomes the norm for if you're a law firm, an accounting firm, or you know, even just a strong regional business... and you are sourcing locally, and you've got kind of all of these ties that are happening."
For The New Majority, her goal is to continue growing the platform and demonstrating its impact:
"If we could then do a study that shows when there's a homemade hub in the city, truly the racial and gender wealth gap does start to close because we have thriving local businesses owned by women, BIPOC, LGBTQ owners... They're hiring local. They're hiring diverse employees."
Ready to Make an Impact?
Mackenzie's story demonstrates that with passion, persistence, and a clear mission, it's possible to create businesses that drive meaningful change. Whether you're looking to support local entrepreneurs, dive into impact investing, or start your own mission-driven venture, there are countless ways to contribute to a more equitable business landscape.
If you're inspired by Mackenzie's work:
For corporate gifting needs, reach out to Homemade in DC at:
To learn more about equity crowdfunding opportunities, visit:
And remember, every purchase, investment, or business decision has the potential to make a difference.
Ready to Start Your Podcasting Journey?
As Mackenzie's journey shows, when we connect people and stories, we can create ripples of positive change that extend far beyond a single transaction. Whether you're looking to explore founder psychology, dive into the startup world, or simply share interesting conversations, podcasting offers a powerful platform.
Shanda's intuitive editing software can help streamline your production process, allowing you to focus on what really matters - having great conversations and sharing valuable insights with your audience.
Start your free trial today and join a community of podcasters who are changing the world, one conversation at a time!
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