One Presentation That Changed The Entire Trajectory Of My Business.
I started my business in 2019 with the intention of creating a brand that would rival other competitors in the industry.
At first, I would follow what they were doing, replicating a lot of the processes that they have implemented, the website apps they used, and so on.
While I have a college degree in Business, that never taught me how to start one truly (although I am well-versed in the Lean Startup Method).
My differentiator (or what I believed was at the time) was a more minimalistic consumable product compared to the other products in the industry that were loaded with things.
This allowed us to focus on quality over quantity.
I thought that in following other competitors and standing out, I would build EASY traction and we would smoothly grow.
The first problem: I waited for it instead of going out and searching for it.
Over time, it came to a point where I was barely scraping by for a single sale of our products for a week — even on Amazon.
I needed to figure something out because obviously the market was not attracted to it, regardless of it is just a tad different.
It was not until I presented to an investor panel that I was given the feedback that changed everything.
The Investor Panel That Changed My Life
I was selected to present as a result of a business group I am in and was super excited. I put a lot of time and effort into setting up the presentation and making sure it was less than 10 minutes.
While I was preparing for my presentation, we received emails from the people who would be on the panel.
There were some CEOs and Entrepreneurs that were pretty well-known in the space, so I was excited and fearful at the same time.
But I mentally prepared.
Pitch Presentation Time.
I presented my story of the problems I dealt with over a decade ago and how the lifestyle that revolves around my brand saved my life.
And then I went over our special minimalistic products with quality ingredients, along with our plan to get there, and our competition.
I felt I did amazing.
The presentation flowed, I made it simple and straight to the point.
However, the investors had A LOT to say.
They said it lacked a powerful emotion that elicited them to be interested.
One investor told me bluntly: “If your business grows and your only differentiator is fewer ingredients, I could just tell other businesses in the industry to do the same.”
I laughed pretty hard because he was telling the truth, and I respected him for saying it.
Then another investor chimed in.
He told me: “You’re trying to compete with businesses who will SMOKE you because others in the industry SAY they do the same! Everybody’s perspective of quality is different!”
But then this same investor said: “Your story… the one you glossed right over… THAT’S your differentiator. Your story is so specific, so niche, that there are people out there that are currently going through the things you used to go through.”
“Instead of serving you TODAY… you should serve the younger you.”
To the viewers watching this presentation live, commentors thought the investors were a little tough on me.
I didn’t.
These two people gave me a reality check.
And one of them just showed me how to turn my business into a multi-million dollar brand in just one single conversation.
The entire trajectory of my business changed.
My confidence and certainty in my business and its success changed.
While my reason for creating this business was my personal life experiences… I used this as a catalyst for my brand’s identity.
So my business looked like all the others in the space: An Amazon business, not a full-fledged brand.
This Is How We Do It
After this mental shift I made, I am more certain than ever that my brand will change lives for the better.
THIS is why I always wanted to be an entrepreneur.
I wanted to serve the right people and help them improve the quality of their lives.
And how you do it is to find a niche (or community) you are OBSESSED about and serve that niche as much as possible.
You have heard this said in many ways, but for 99% of businesses, niching down is the only way to thrive in industries filled with brands that have been there for decades.
In our connected world today, people want to bond with communities of people just like them.
And these same people will support these communities for them to thrive, to give them more options (products) to succeed, and build the brand to the point where it guarantees success on their journey.
Remember this if you’re starting a brand.
There are millions of YouTube videos that can teach you how to start your business.
But don’t forget the soul of the business: you and the community you’re trying to serve.
