Starting a business from scratch is one of the most challenging things on earth to do! Luckily, there is help and resources more than ever to meet the needs of Latina business owners or entrepreneurs building innovative products. First and foremost, Latinas WIN at beauty product purchasing and experimentation – spending more than our non-Latina counterparts. However, let’s go beyond us, as ‘consumers’ and let’s be ‘innovators’ – there are insights we may have on products that others don’t – problems to solve. So wouldn’t it make sense that Latina business owner be the creators of products and services too? We think so!
So you have an idea, mujer…that’s awesome!
Here are a few pointers on turning your idea into a product:
- First, dive into Lean Startup principles.
- What is the problem/solution?
- You will learn via ‘validated learning’ if there is a product/market fit.
- If you have a ‘tech-based’ product company – Are you offering or plan to build a product with a tech-enabled solution? Does that ‘tech’ have intellectual property (IP) or are you leveraging and replicating via a 3rd party technology? In other words, what makes it a ‘tech’ product…at its core?
- Build a strong team. Not a necessarily a large team by numbers, but a small and mighty team with domain experience, deep knowledge, experience, leadership and cross functionality.
Remember, you will wear-many-hats and need to roll those sleeves up! The best CEOs/Founders have done everything – be humble and learn every facet of your company. It just makes you a better CEO.
Learn more about Sephora’s beauty accelerator and note, their first cohort or class demos and ends in August 2016 – so watch for
application dates and deadlines! Buena Suerte!
Featured Photo Credit: wocintechchat.com #wocintechchat