April 9, 2021
7 minutes of reading
Comments expressed by Businessmen the contributors are their own.
I grew up in a large southern family with three brothers and two sisters and was never taught that I would be treated less than a boy. My mother was the only woman to graduate from her law school, and that was in the ’50s! My aunts are all steel Magnolias. I have never considered being a woman a barrier starting a business, or an obstacle to success. Yes, as my business grew, there were times when I felt scared or shy in front of the all-male negotiating table. There can be a variety of poses in those situations. But that fear is in your head, and you realize it’s something you have to overcome. The only path to success is to conquer small fears – and keep them small. Below, I’ve come up with six tips that have helped Bobo’s get where it is today and I hope it will help you in your business journey.
Be prepared for people to sample your product
When you launch one new product And no one has heard of you, it is very important that you have as many samples on hand as possible. I am fortunate to have a product that is easy to sample. When I first started out in business, I started out by buying samples at a local coffee shop. After giving samples to local businesses and cooperatives in my area, I started getting orders for my bars. If you believe in your product and think it tastes good, so should everyone else!
Without a marketing budget, when you are just starting a business, sampling is the only way to get noticed. Plan to spend some money on free samples from the very beginning and even after your buyer brings you in.
But don’t stop at sampling. Next is the key. Business owners and buyers are constantly being bombarded by other brands with the same goal in mind, which means persistence and tracking are key. When I first started working with Whole Foods, I sampled the in-store customers every weekend on all counts. Denver area. Keep free templates constantly to advertise and find creative and fun ways to follow your buyers. If your product is a snack, have the buyer a cup of their favorite coffee before you start the meeting. Try to personalize their experience with your product as much as possible.
Networking and appearing in every trade show is an important way to ensure that your company is enjoying valuable meeting time with retail partners. While live trade shows may not take place at this time, there are virtual trade shows that retail partners are still attending that may have potential for one-on-one or “machines”. mix “virtual.
The trade show gives beginner brands the opportunity to test competition, learn about new industry developments and meet new existing and potential partners who will help build the public. ty. In the beginning, I never turned down a meeting. You never know who you will meet and what you will learn, so be a sponge and absorb all the information you can get from those encounters.
Since networking can be a challenge during a pandemic, consider joining a network organization for women-owned businesses such as Association of Women’s Business Centers, a non-profit organization in partnership with US Small Business Regulatory Authority (SBA), which works to help women connect and get advice from like-minded women.
Best practices for getting attention from the right investors
Finding the right investor for your brand can be a daunting task. It is important to make sure that they align with your vision of the company’s growth. Ultimately, taking the time to do your research will be worth it.
You can start by joining Facebook Groups specific to your industry and geographic area. You can also look for local commercial organizations, as they can offer you some potential customers on the right people to connect with.
Look at the angel investor network. My first investment comes from angel investorand they currently have membership-based networks that tend to serve by location. They typically operate from a fund set up by an investment firm to source the network’s transaction. This reduces the complexity of having to go from angel to angel in person to find the right job for your business.
Understand expense loops will be very valuable when pursuing an investor. Sponsor “seed” either angel investor Sponsorship is a common practice for starting a business in which a private investor will exchange equity in the company for capital. Next, this could be followed by Series A, B, and C funding rounds. If you’re still in the early stages of your business development and already have a capital investment, you may be considering making progress. onions Line A next round. This stage will allow you, as a brand, to continue to turn your great idea and strategic plan into a larger, more successful company.
What to do when you are in the conference room
The standard advice for raising money is to do it before you need it. It is easier for investors to take advantage of your company if they know that you are losing money. Pitching and selling may not be the reason you started your business, but they are essential and learnable skills. Start small, practice and train to become more confident. You can find resources for word practice Women’s adventure fund, an organization that offers training programs, direct consulting services and business loans to female entrepreneurs.
How to reach your target audience
Do not be discouraged during Covid that you may not be able to sample. There are other ways to reach your target audience. If the stores do not facilitate sampling, be creative. Ideas can include submitting products to influencers with engagement followers, donating products to small local events, and nonprofits that cater to your target audience. you are either creating an interactive, social experience in a target market. Finding out what will be the most powerful consumer tactic that can guarantee your brand’s success.
Marketing and PR
When starting to build your brand, figuring out how to market your product will be the key to finding an audience that will love your company. It’s important to know who your top customers are when you start a business. Are there men, women, children, the elderly? For my brand, mothers with young children, anyone on the go, athletes, and vegans. As my business got bigger and I had a bigger budget, I formed a marketing team and hired consultants to do in-depth surveys to accurately tailor their clients. Who am I and why also find out when they’re going to eat Bobo’s. This insights are valuable for our marketing team’s focus on the future.
Outside of marketing, when brands are mature enough, PR is an important way to start building brand awareness. It allows companies to be featured by genuine writers who want to tell the story of their business and let their readers know about all the great products a brand has to offer.
Now break those barriers, conquer your fears and start your dream business.