There is a place, specifically for you, in your desired industry. That place may not exist yet and, believe it or not, that’s the silver-lining.
As an innovator and entrepreneur, you are tasked with the responsibility of creating that place. If you’re a little unclear on how to pull that off, Black Enterprise has acquired the help of expert niche entrepreneurs Co-founder and Creative Director of Miss Jessie’s, Miko Branch; CEO of Sundial, Richelieu Dennis; and Founder & CEO of Mayvenn, Inc., Diishan Imira, to guide you on your way.
At the 2016 Black Enterprise Entrepreneurs Summit (May 4-7 at the Loews Hotel Miami, in Miami, Florida) Branch, Dennis, and Imira will provide business owners (aspiring and established) with a candid, illuminating look at the hair and beauty industry while offering tested advice on branding, innovative marketing, and business strategies.
Here is exactly where you’d like to be if you’re looking to thrive in competitive niche markets.
You’ve heard of Miko Branch, or at the very least, you’re familiar with her breakout, must-have, highly-demanded (hair just doesn’t seem to curl right without it) Miss Jessie’s hair products. Branch recently offered Black Enterprise profound insight on getting your business started. “You don’t need money to transform an industry,” proclaims Branch. “You don’t even need privileges or degrees. We didn’t have MBAs and we didn’t get bank loans or find angel investors. What we had was a seed of an idea and a solid foundation of family and influences to learn from and observe.”
Black Enterprise asked Dennis what guidelines he used to assure success of his organic skin and hair products and he shared, “The core was that we had a great product from an integrity standpoint. We were able to offer a cultural perspective and plug into a big business and still customize [our approach for] small customers.”
In probing Imira on what prompted his desire to start a business in the black hair market, he explained: “We spend $9 billion on hair products every year, but less than 5% of [our salons] retail any products. I wanted to change the way the products were sold. I wanted the hairstylists in the salons to be able to participate in the entire supply chain process.”
What these successful entrepreneurs had in common when building their businesses was the desire to meet a need that wasn’t already being met and creating a demand for their products.
Ask yourself:Â What need will your business meet?
Register now for the 2016 BE Entrepreneurs Summit, May 4-7,Â Loews Hotel Miami in Miami, Florida, to learn all you need to know about making big bucks in specialized markets.
Be sure to follow Black Enterprise on social media @BlackEnterprise for Entrepreneur Summit news, highlights, and updates. Use hashtag #BESummit to stay in the loop. Please be on the lookout at BlackEnterprise.com as speakers, activities, and sessions are announced.