Lessons's All Entrepreneurs Can Take From Episode 1 of Queen Boss
When I heard about the show Queen Boss on Centric TV, I was so overjoyed! I saw an article on my Facebook news feed that basically described it as Shark Tank with Black women. My first thought, "How do I apply?" So many of my friends and #HERmovement readers sent text and Facebook messages to me containing articles about the show advising I needed to be on it.
This show is so timely and so necessary. As a blossoming entrepreneur myself and as a digital brand strategist that works with other women entrepreneurs, I was looking forward to show that would showcase our brilliance. On Sunday night, I grabbed a glass of wine and tuned in to the first episode with the rest of Twitter. My thoughts on the first episode? Absolutely loved it! There were several gems that any aspiring or existing entrepreneur could take away from the episode so I figured why not share it with the #HERmovement audience!
Queen Boss Gem #1 - Perfect Your Pitch
The show kicked off with three contestants pitching their businesses to the judges. The pitch needed to be concise yet compelling. The pitch needed to drive home your value proposition. One of the contestants had a pitch that was so short, the judges literally told her "that's it?". She of course did continue but that moment alone killed her credibility, at least for me it did. Then the judges asked her what made her products different than her competitors and her answer was lackluster at best. Entrepreneurs, you have to survey the competitive landscape of your industry. Even if you're a disruptor, you still need to have a firm understanding of your competitors, industry trends and pricing techniques.
Queen Boss Gem #2 - Stay Ready So You Don't Have to Get Ready
After pitching their businesses, the judges selected two of the three contestants to move on to a networking activity. The ladies were sent to a small networking party with other entrepreneurs. One of the ladies did not have business cards with her which personally, is a big no-no for me. You may not believe in business cards, but it doesn't look good if you don't have them. The days of the standard business card has passed. You can get creative and truly showcase your brand on your cards nowadays. The contestant slightly redeemed herself by asking the women she met to connect with her on social media instantly which is a great idea for instant follow-up. The other contestant did have her business cards but she also had a mini samples of her product to distribute.
This is golden! If you're a product based business and can create mini samples of your product, go for it! You have no idea who you will run into or where you will meet prospective clients and investors.
#QueenBoss Gem #3 - Know Where You Want to Go and What It Takes to Get There
During the pitch process, the contestants where asked why should they win the $25,000 and the title of #QueenBoss. One of the contestants articulated that she wanted to expand her business by getting her product on shelves in stores and of course expanding her product line. One of the judges asked her how much it would cost to do that and how would she keep her pricing reasonable for customers. Unfortunately she wasn't sure. In situations like that where you're in front of people who have the potential to help you get across that bridge, you have to show them that you want it and you know how to get there. Having a dream is wonderful but if you don't have a plan or at least an outline of how to accomplish that goal, it will be hard for others to buy in. I am by no means saying you need to have all of the answers. However, you do need to do research! By doing research and piecing together the information you're able to find, you're showing potential investors and partners that you do in fact want this and are willing to work to get it.
Did you tune in to #QueenBoss? What was your biggest takeaway?