Artist Spotlight: Common Wealth Collective Founder Lynzie Smith

Meet Lynzie Smith, the Founder and CEO of Common Wealth Collective! With more than 15 years of experience in the beauty industry, Lynzie has worn many hats - starting her entrepreneurship journey as a hairstylist, makeup artist, bridal and texture specialist. She stepped into teaching as a national educator for an international beauty brand which eventually led her to launching an education-focused community in 2020. Now she teaches entrepreneurs how to effectively build a community of dream clients, like-minded pros and aligned brands to diversify revenue streams and buy back their time through collaboration!

Driven by a passion for empowering service-based professionals, Lynzie realized that true success lies in networking and building genuine relationships. Through investing heavily in her own education, she’s experienced firsthand the transformative power of a strong network and supportive community.

Common Wealth Collective offers 1:1 coaching, a 3 month intensive group cohort program and full service community consulting. Through CWC, Lynzie is focused on supporting all beauty, wellness and creative entrepreneurs launch, grow and nurture their network for continued success.

Marlo Beauty: What core values drive you and your mission at Common Wealth Collective? How do these values influence your approach to community building?
Lynzie: I’ve always been driven toward change and growth, even from a young age. I’m consistently working on self-improvement, and I love learning. This is reflected in CWC - our core values are authenticity, collaboration and empowerment. We focus on fostering genuine connections and supporting our clients in ways that feel real and uplifting. This has a ripple effect into each of their own networks and communities. These values guide everything we do, from our networking events to our educational content, ensuring that everyone in our community feels valued and motivated to reach their full potential.

 

Marlo Beauty: Why is community involvement important for building a successful business, and how do you encourage your community to participate in and contribute to their own communities?
Lynzie: I’m an avid volunteer and love giving back to my geographical community as well as my industry. I sit on event boards with non profits, volunteer in hospitals and mentor new entrepreneurs, donating my time and expertise. Community involvement is crucial for building a successful business because it fosters connection, creates loyalty and opens doors to new opportunities. We encourage our community to engage by providing support and resources for the initiatives that matter most to them individually. By giving back, entrepreneurs not only benefit those they’re supporting, but also build a stronger, more supportive network that contributes to their own business success in experience alone!

Marlo Beauty: How can service-based entrepreneurs identify and attract their dream clients?
Lynzie: Identifying and attracting dream clients starts with knowing who they are and what excites them about your services. It’s not just about finding clients; it’s about finding those who truly light you up and make your work feel enjoyable. Start by creating detailed client avatars that represent your ‘dream’ clients. This helps you understand their needs, preferences and behaviors, allowing you to tailor your marketing strategies and offerings effectively. If you feel stuck around this, reach out to your very favorite clients currently and ask them for feedback around your services and/or offerings. What are their preferences? Who's in their network? Deeper insights help tailor your strategies and ensure you’re connecting with clients who align with your long-term vision. Networking also plays a significant role in attracting dream clients. It's not just about the number of people you meet but the quality of those connections. Focus on building genuine relationships by attending industry events, collaborating with local like-minded pros and implementing a referral program. With intentional networking, you'll create meaningful connections that align with your vision and attract clients who bring joy and fulfillment to your work.

Marlo Beauty: How can entrepreneurs leverage their network to build relationships with other like-minded professionals?
Lynzie: To leverage your network effectively, start by actively engaging! Join relevant groups online and in person, offer genuine support to others and consider hosting your own event to make connections! Join professional associations, online communities, even your local chamber of commerce if they resonate with your goals and interests. We call these relationships ‘Power Partners’ because they’re truly powerful when it comes to expansion! One of my first Power Partners was an independent esthetician. She and I shared clients for almost a decade, and now when I go back to Chicago to take a handful of clients each quarter, I stay with her!

Networking is more than just exchanging business cards. It plays a pivotal role in your professional growth by opening up opportunities for collaboration and learning. When you build strong relationships, you gain access to shared knowledge and resources that can propel your career forward. Networking also provides a platform for mutual support, where you can both give and receive valuable advice and encouragement. Remember, ‘You get what you give’! Show up ready to pour into your network and watch that return back to you time after time!

 

Marlo Beauty: Why is it important to work with aligned brands, and how can it impact your business?
Lynzie: Working with aligned brands is important because it ensures that your partnerships are built on shared values and goals. For example, Marlo Beauty Supply aligns well with our mission at Common Wealth Collective, enhancing our ability to provide valuable resources to our members. Aligned partnerships can boost your creativity, extend your reach and open up new opportunities. They should enhance your business rather than just add to your workload.

To start working with aligned brands:

Marlo Beauty: What advice would you give to entrepreneurs looking to strengthen their network and build their community?
Lynzie: Start by focusing on offering value to your dream clients. Once you feel you have a network of dream clients, start building ‘Power Partner’ relationships in ways that are mutually beneficial. Seek out opportunities to help others in your industry by sharing your expertise, providing support and celebrating their successes on social media. A great collaboration option to suggest to a potential Power Partner could be co-hosting live or pre-recorded videos to share on a topic that resonates with both of your audiences. Building genuine relationships involves actively engaging, being consistent and patient as meaningful connections take time to develop. By consistently providing value and creating spaces where people feel appreciated and supported, you'll foster a strong, collaborative community that benefits everyone involved!