Claim OwnershipDriving the Business: Beauty Brands & Entrepreneurship with Anthony Standifer
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ATTENTION all beauty brand owners, employees, entrepreneurs, suppliers, influencers or anyone interested in understanding the true BUSINESS of beauty welcome to Driving the Business: Beauty Brands & Entrepreneurship podcast. We're providing the inside tips, secrets and advice needed to move your brand or idea forward in a complex but lucrative industry. We tackle marketing, sales, manufacturing along with the joys and perils of entrepreneurship.
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As business founders raising money can sometimes feel like a complex mystery with lots of questions. What do investors want to see from a business owner? How do investors evaluate who to invest in? Should owners expect to give away equity when raising money? If yes, how much? Well I managed to book time with a venture capital (VC) investor who reviews and assesses deals for a living. Jason Mercer is a Principal at Cleveland Avenue, a Chicago based firm doing great work for local businesses. I sit with Jason who gives a graduate level walk through on the questions above and much more. If you want key insights that investors look at when investing in beauty and consumer good brands then this is the episode for you. Find Jason Mercer on Linkedin. Find Clevelend Avenue website.
I love bold people! Winnie Awa is a bold Black woman doing amazing work in the beauty space as the founder of an AI driven platform that is serving curly haired women in the UK. She is also someone who understands what it is like to pivot your professional career to pursue her passion. She also is confident enough to speak her mind when something does not line up and gave her opinion when Brad Pitt launched a skin care brand. I have a full candid conversation with this entrepreneur to talk all of the above as well as what the human journey towards today's greatness has been. You do not want to miss listening to this episode. Follow here beauty platform @HeyCarra and find Winnie Awa on LinkedIn. Find today's episode of Driving the Business on Apple Podcast, Spotify & iHeart Media. Search for Anthony Standifer.
Does the Silicon Valley Bank or SVB discussion completely confuse you? This is the podcast episode for you. Do you see the direct impact of how the tech community's turmoil is going to impact beauty and consumer product good investments? This is the podcast episode for you. Would have a simple explanation of what's happening in the financial world help you? This is the podcast episode for you. I snagged time for the very knowledgeable Justin Dawkins who lives inside the investment community as managing partner of Collab Capital who raised an incredible $50M during the pandemic with the sole purpose of investing in Black founders. He and I break down the very nature of what a bank does and how the banking ecosystem is supported. We then go step by step through how Silicon Valley Bank ended up running out of money and why the government stepped in. There is also an impact on how the down turn in the tech community hits beauty industry investments this year and beyond. Follow Justin Dawkins on IG & Twitter @JDawkinsATL and his investment fund @Collab.Capital. You can also email Justin directly at Justin@Collab.Capital. Mention the Driving the Business podcast when emailing.
Things rarely turn out exactly like how I think they should when planning big things in life. For me starting a business meant the promise of ultimate freedom, success and tons of money. Managing a whole damn beauty manufacturing company has given me insight and taught me lessons that have been eye opening and incredibly helpful. I'm sharing 8 key insights as a reflect back on the last 96 months. If you're someone thinking of starting a business lean in closely as these are tips that I wish someone had shared with me before starting my own journey. If you're someone who has already started your own business lean in even closer as these are likely reflections that may explain some of what you're experiencing. Lastly, even if you're someone with no desire for entrepreneurship yourself, I share the value I found in working for other for over a decade. This is a catch up episode and one to enjoy.
Since 2020 I have leaned hard into having conversations about the impact of race in my personal life and business with my non-Black friends and associates. These conversations have been nuanced and complex yet extremely enlightening. I've recognized that my white friends/associates don't get many opportunities to discuss what its like to live as a minority in the US. On this latest episode of the podcast I have an intimate conversation with beauty editor, Claire McCormack, about how race has played out in the beauty industry for me personally and how her organization - Beauty Independent - responded courageously in the midst of a social uprising. Get ready for the realness. This was a beautiful conversation that has value for all. You can find Claire McComarck on Instagram, Twitter and Facebook @ClaireMcMack. Email is claire@beautyindependent.com. Check out www.beautyindependent.com. Find me on Instagram and Twitter @mSEEDAnthony, LinkedIn & at Facebook Anthony Standifer. Reach out via email at info@anthonystandifer.com.
I love talking with indie beauty brand start up founders and on this episode I sit and chat with a married couple who are taking a deliberate, disruptive approach to skin care with their line of omni sex products. Jayme and Nick Valo of Valoie Skin Care give an intriguing discussion about the origins of starting a beauty line targeted at the recently coined phrase omnisex. We talk about the meaning of the phrase and how it differs from unisex. Jayme is a serial entrepreneur who has had more than a few failures in launching businesses but she explains why she continues to launch new businesses in very diverse fields. I dig deep into the details of how the couple balances being business partners in life and business. They share the power of wine and whiskey in their working relationship! We talk in detail about the risks associated with not being a traditional male or female beauty brand and why it's both insane and necessary as a point of differentiation in a competitive market. Find our more about the brand at www.valoie.com or on Instagram @valoieskincare You can follow me on social media Instagram & Facebook @mSEEDAnthony on LinkedIn at Anthony Standifer. My email is info@anthonystandifer.com.
Somebody hand me my soap box cause I need it right now. Going into formal retail chains without being prepared is the kiss of death or some very painful, expensive lessons! 20+ years of doing business with most every retail chain that sells beauty products and I have seen first hand how this game operates. One of the secret weapons that indie beauty founders may enlist are the services of a sales management firm. In today's episode of the podcast I sit down and chat with an industry heavy hitter, Demar Roberts, that has worked with 100s of brands as a sales rep. He shares some of the major insights and strategies that are relevant for those wanting to meet with retailers and those that are currently in retail but want to improve. We talk about: Pricing structures Cost of being in retail distribution How to build a team that makes you look good to a retail buyer This was an awesome conversation filled with sooooo much good information that I know will provide value. Demar Roberts First Choice Sales & Marketing droberts@firstchoicesale.com @iamdemarlamont on IG 1-901-360-8967 office
We are getting extra cozy and familiar for this episode. I've recognized in my own journey as a Black man living in America with abundant blessings all around me that everything is not ok. While things in my business have been thriving and we've been shattering ceilings with fundraising and hitting revenue targets, on the other side I have had to stand and face some issues that go back to my childhood. Enter daddy issues and the long impact that my connection with my own father has had on me. In this week's podcast episode I've invited my own counselor - Michael Mays - to join in this raw discussion and to also share insights on knowing when the right time is for therapy. I also share how one friend's well meaning advice sent me into a rage that later led to seeking professional help. Michael Mays LCPC Find him on Psychologytoday.com or therapyforblackmen.org
By far the biggest business challenge I hear from entrepreneurs entering the space or thinking of launching products is they don't have enough money to execute on their vision. After hearing this statement no less than 200x's a year I have given some thought on how to translate the concept of a minimal viable product (MVP) from the tech world into the beauty product space. Making it happen is totally doable and something I have seen crafty, resource strapped business owners do successfully. In this episode I'm laying out all the details on: The 3 type of entrepreneurs the MVP launch makes the most sense for and who should pass on it. The core elements that are needed to execute a MVP launch Why 50 products or product sets is the game changing number towards validating your success. How leveraging the MVP launch can save you tons of money (that you don't have) and lead to accelerating your beauty brand's long term growth. There's LOTS of proven information in this one. Be ready to jot a few notes down or listen to this one more than once. There is gems of success in it.
I'M BACK! But I don't want to do things exactly like we were doing them before. This includes how I show up for one of my passions which is this podcast. The last 2 years have changed me. I just do not feel like "business as usual". It took some time to really identify what was different and how I wanted to show up in the world. For me it means still offering incredible value for those that are connected with the beauty industry or with product based entrepreneurship. I'm ready to celebrate the success and glow up that has occurred for many of us. Of course offering actionable tips on how to grow and scale your own business is still core. Today's episode is a quick re-centering on what we're doing here. It's real talk for some real times and I'm excited to be back in your listening ear.
I admit at first I was admittedly against the idea of hiring a virtual assistant. I did not see how their could be value in having an assistant that I would never see. And then the great ponderosa hit aka COVID-19. In today's episode hear about how wrong I was in my initial assumption and how having a virtual assistant has been a game changer for me and my business. I do this in a direct conversation with my own VA, Paula Heitzman. If you are a start up entrepreneur, small business owner or fast growing you need to hear this episode. I pull back the veil on this one and share specific details on my hiring process. Paula gives her perspective on what makes her most effective as a VA. This is content you don't want to miss.
As a beauty product manufacturer and brand consultant I have worked with more than 200 brand owners over the last 7 years the topic of pricing and I've come to a huge conclusion. Pricing products is an emotional process for brand owners that leads to all the questions. What if you over price your products and no one buys? What it you under price your products and miss out on additional dollars you could have made? There is a common thread amongst those brands who set their prices and win in the market long term. I'm sharing the top 5 insights in how to price products with both profitability and long term scale in mind. There is a ton of value here for those with existing products in the market and those thinking of launching products.
Calling all social media influencers & those who engage them. This is the content you need. The concept of brands paying content creators and social media influencers is a cumbersome, ambiguous process and both side need help. Influencers are trying to figure out how to attract and scale their reach so they attract brands to pay them. Beauty brands (particularly the indie brand owners) are trying to develop budgets and a structure that allows influencers to grow sales. In this latest episode I talk with someone who has set on both sides of the table. Christian Maxwell (@cisfornetwork) made her entry into the beauty space as a hair care blogger and content creator as part of her "big chop" in going natural. She has worked for indie beauty brands and is the owner of an agency - Studio Maxwell - where she currently finds and hires content creators on behalf of beauty brands. We dive into the details providing actionable tips for both social media influencers and beauty brands looking to engage them. Find Christian Maxwell on IG @Studiomaxwell.co or @Cisfornetwork. Here agency website is www.studiomaxwell.co.
Working with a manufacturer can seem like an overwhelming, daunting project. But it does not have to be. After 6 1/2 years and literally more than 1000+ discussions with potential customers I have compiled a cheat sheet that will quickly move you to front of line with any private label or contract manufacturer you're considering. 6 questions that once answered will give you the confidence to engage not just me but ANY manufacturer. This is one of those episodes you may need to listen to more than once to ensure you've got it. Take written or voice notes. Whatever you need. These practical tips position you for long term success and demonstrate your command of your business.
We are coming up on the 1 year anniversary of COVID-19 shutting down the world and it's been almost a year since my last episode. We've got a lot to catch up on. I don't want to act like it's "business as usual" which is why I'm getting raw and vulnerable about the last year of my own life. It's been a hybrid of the CRAZY & AMAZING! We also talk about what a tremendous opportunity right now is for anyone in the beauty space or anyone thinking about launching a product or service. The tips offered here could be one of the keys to your multi-million dollar business.
Not everybody should become an entrepreneur today! Many are best served working inside a beauty company. Navigating your career can be tricky so I assembled two of my most favorite people to help bring you the kind of sage advice you need to thrive! I spent 14 years of my own career working for multiple companies and it was the BEST training guide I needed to prepare for my current place in life. Shawn Tollerson has been my boss in two of those companies. She brings 25 years of experience at all levels of beauty organization from brand manager, Dir Marketing, VP, CMO & CEO. She's one of the G.O.A.T.'s in the multicultural beauty industry and is serving up her keys to success. I also invited my good friend, Teneya Gholston, who is Senior Director of Marketing at Revlon who has also built an impressive career inside of an organization and leads teams that execute. This episode not only brings the fire, but also huge laughs and real, practical advice that you can execute NOW. Regardless of where you fall in your current organization you need to hear what these ladies are sharing. Buckle up....you're going to enjoy this one. I did! If you want to connect with either lady be sure to connect with them via LinkedIn.
Understanding the role of public relations as part of a beauty brand's marketing mix is a tough and sometimes confusing topic. What is PR? How is it different than other forms of advertising? What should I expect when I hire a PR agent or team? Well I've got a veteran in the space who is here to answer these questions and how beauty brands can successfully approach PR. Stephanie Scott-Bradshaw is an agency owner with more than a decade of experience supporting both large and indie beauty brands. You need this info in your life! Check out Stephanie on Instagram @StephScottRocks and her company @FirstAndLastPR.
As part of every beauty brand experience you are going to receive customer complaints about your product. As an owner or someone who works in customer service you should get ahead of the issue by having a process for handling the issues as they come in. Don't let someone else's concern or anger set you up to be sued and manipulated out of money. I'm shelling out 8 quick tips that can be implemented today to save you $ and peace of mind. Enjoy!
What would you do if Oprah Winfrey funded the start of your business? Well find out what one woman with an idea, passion and the guts to take multiple leaps of faith did in this new episode of Driving the Business. It's rare to find entrepreneurs that will get real and raw with you. But Kiley Russell did both during this candid interview sharing intimate details of her highest successes as founder of Big Girl Cosmetics who went from batching body butters in her kitchen, to winning a car in one of TV's most historic moments, to launching her beauty brand in Macy's department stores, to shutting it all down and re-starting to achieve personal happiness. You can't miss hearing this incredible journey. Kiley and I go way way back but I have not heard the details of this amazing journey so listen in and take notes as you dream big or manage your own beauty brand. Follow Kiley on IG @thekileyrene or the brand @biggirlcosmetics.
The REALITY is that Black women founders are getting a dismal 0.002% of all venture funding. Hear what beauty brand founder Kim Roxie decided to do when she found out this startling statistic while also working to pivot her own color cosmetics line - LAMIK Beauty. We get REAL and talk about what it was like for Kim to shut down her store in order to pivot. Her quest for education and participation in multiple accelerators has given Kim a new level of confidence and fire to not only fuel her own business but to help other Black women business owners. Her story is soooo compelling and one that should resonate with any business owner who has ever had to ask for money to start or grow their business. Kim is knee deep in the fight with her own crowd sourcing campaign designed to bring other Black women (and people who support them) to the forefront of business ownership. Find out more about Kim's campaign at iFundWomen.com Kim Roxie can be found on Instagram & Facebook @LAMIKbeauty and @thekimroxie
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Anthony is so easy to listen to. I feel like I’m speaking to my close friend. A wealth of information and do knowledgeable and detailed!