Today on stage at SOKO MRKT, IGL Nails founder Brittany Golden, Blaze Group's Casey Ariel Thobias, and Nihya Sol's Shawntrell Smith discussed the types of incubator programs, boot camps, and accelerator programs that can help budding entrepreneurs, moderated by Arielle Brown.
Tips from these women on how to evaluate opportunities you may come across have had a huge impact on their own journeys. Read on to learn what steps you can take to secure the future of your business, including funding, mentors, and more.
Ask for criticism
While it can be disheartening to apply so hard to these programs and then be told “no,” Blaze Group founder Thobias says criticism has helped her grow. “Backlash makes you change direction and makes you not let your guard down,” she told the SOKO MRKT audience. IGL Nails founder Golden agreed with Thobias, saying that while she was in Target's accelerator program, she sought out feedback. “I wanted to be in retail, and one of the things that was really good for us was getting feedback. I got feedback on my packaging, and basically the feedback was, 'This is cute, but no.' But you need honest feedback. Sometimes people won't do that because they're afraid of hurting your feelings, but with honest feedback, you can make changes and achieve your goals,” Golden explained.
Fisheries and Agriculture
When starting a business, you may want to achieve everything as quickly as possible and be successful, but Tobias cited a theory from fishing and farming. “When you start a business while fishing, you're trying to put food on the table, but when you farm, you're trying to harvest something that will last a lifetime,” she said. “Every single accelerator I've worked with has given me relationships, mentors, financial benefits, perspectives, insights, and resistance,” she added. All of this was a slow and steady process to ensure she and her company were successful.
Step Out of Your Comfort Zone
Golden emphasized that it's also important to embrace being out of your comfort zone. She was looking for criticism, but criticism comes even when you don't ask for it. Being able to listen intently and pivot to be able to participate in these programs is crucial to the growth of your business. Especially if you're a Black founder, you need to have a strong sense of self-awareness and brand identity because these spaces are already limited and don't have many Black entrepreneurs. Remember that backlash and criticism are not personal, but rather a remedy to ensure your business grows.
