- 8 hours ago
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LifestyleTranscript
00:00All right, ladies and gentlemen, kings and queens, we are ready to get this party started.
00:06Coming to the stage, we have John Hudson III of ENERGY.
00:10Let's give it up for him because he is about to bless some folks with $150,000.
00:17Come on, sir. Welcome to the stage.
00:19Thank you. Thank you. Good afternoon, everyone.
00:22My name is John Hudson with ENERGY Corporation.
00:25We are an electric utility company headquartered here in New Orleans,
00:31but we serve cities and communities across four states in Mississippi, Arkansas, Louisiana, and Texas.
00:38And we're proud to partner with Essence and New Voices to provide funding for some fantastic entrepreneurs.
00:46Yesterday, there was a pitch competition, and three of these entrepreneurial companies are here with us today.
00:52We're going to find out what happened, we're going to find out about their businesses,
00:58and we look forward to hearing from them.
01:00I'd like to introduce all of them right now.
01:03The first finalists that we had yesterday was Mabel and Syeda Frias from Lunar Magic.
01:11All right.
01:11The second finalists was Felicia Jackson from CPRRap.
01:20And the third is Brooke Hill from Brooke Sweller Beauty.
01:29All right.
01:30Thank you all.
01:31First of all, congratulations.
01:33It's so, so, I think, incredible what you have done with your businesses.
01:41I read this morning, you know, I was looking at in 2022, according to Crunchbase,
01:46there was $240 billion in venture capital last year.
01:52That, of that $240 billion, only 1% went to black founders,
01:57and only a third of that went to female black founders.
02:02So, there is a gap, and we as corporations and we as other folks who want to support this,
02:10we need to find ways to support courageous business women like you.
02:16So, I want to applaud you again for doing everything that you've done.
02:19Let's give them a round of applause out here.
02:21All right.
02:24So, I kind of want to start with a few questions.
02:27And the first question really is to, you know, kind of go through your pitch.
02:32You know, you made a long pitch yesterday, and, of course, we had winners from that.
02:37But I'd love to hear just the one-minute version of your pitch.
02:41So, let's start with you, Brooke, and tell us about, you know,
02:45this great braiding company that you have.
02:48Yeah, so, I am the co-founder and CEO of Swella Beauty.
02:53And Swella provides a luxury experience to hair braiding.
02:57We utilize streamlined processes and technology to provide hair braiding services at the same price,
03:03same quality, but with a better experience in half the time as traditional services.
03:08That's fantastic.
03:10All right.
03:10Okay, Felicia, CPR, a big deal.
03:13As you've educated me, you know, it's disproportionately, African Americans are disproportionately impacted with the knowledge of this.
03:22So, tell us about CPR WRAP.
03:24Right.
03:24CPR WRAP is an all-in-one disposable CPR template that empowers, protects, and guides any non-medical responder during CPR.
03:33And just like I was saying previously, there is a discrepancy, it's very disproportionate, in the minority and low-income communities where they don't have the tools to perform CPR.
03:45Forty percent less likely, that has to change, and we're here to do it.
03:49All right.
03:50Well, Mabel and Saida, you guys are already in Target, CVS.
03:57You guys are doing your thing already, you know, so, I mean, I applaud you for that.
04:02But tell us about your business and what you're trying to accomplish.
04:06Sure.
04:07My name is Mabel Frias.
04:08And I am Saida Frias.
04:09And we're the co-founders of Luna Magic Beauty, and our mission is to provide high-quality cosmetics at great prices, con mucho amor.
04:16And like what this gentleman said, we are currently distributed in Walmart, Target, and CVS, and we're just getting started.
04:22I love it.
04:23I love it.
04:23So, you know, I think I talked earlier about the financial challenges.
04:29You know, access to capital is a huge issue for all businesses, but especially for black-owned businesses, and especially for black-female-owned businesses.
04:39So, other than that, tell us, or if you want to talk about this, talk about some of the challenges that you guys have faced in getting where you are.
04:48So, we'll start with you.
04:50Yes, I think for Luna Magic, one of the key challenges that I can remember, and you can add an in, Saida, slash sister, is actually, yeah, capital is also access to quality networks, access to expertise.
05:03The reality is, we come from a family of honest, blue-collar workers.
05:08We're the first women in our family to go to college.
05:09So, even in accomplishing that fee, there was still a steep learning curve with learning with how to do business with these massive retailers, understanding, like, how they see success.
05:19But, you know, I think we've been really fortunate with platforms like New Voices, which provides a lot of great educational, even financial literacy platforms that has helped us make this journey a lot easier.
05:31Meaning, what we've learned from entrepreneurship is you really need to find a circle of people, like New Voices, that really understand the dynamics in the industry that you're trying to play,
05:41and that have an honest interest in making it more feasible for women of color to succeed in business.
05:48And mentorship, like having people around you that give you the resources and the blueprint of how to start your business and stay in retail.
05:59That's fantastic.
06:00Felicia, how about some of your challenges?
06:02Oh, my goodness.
06:03There's many, many, many challenges that I had to go through.
06:06Still going through them right today, but one of the first ones was access to capital.
06:11And people just didn't understand what I was doing, or people that looked like me were not necessarily in that field, so they were not giving me the money.
06:19And one little story that I had was, before I even had a product, I had the concept.
06:24And a group of doctors came to me, and they said, Felicia, we want 80% of your company for $1.2 million.
06:32I almost lost my home, lost my car, because I went all in.
06:37I was going to take that money, but I thought, wait a minute.
06:40If they're asking for my company now and trying to give me that amount, and I don't even have a tangible item,
06:46what about when this product has come to fruition?
06:50You know, so I had to take a step back, because there's sharks out there.
06:54There's people that, you know, they want what you have, and they want to pay very little to get it.
06:59And I'm thinking, no, not today.
07:00So I turned that money down, the best thing I ever did.
07:03All right.
07:04That's fantastic.
07:06Okay.
07:06Well, Brooke, love to hear about some of your challenges as well.
07:11Yeah, there are many challenges.
07:13Before I address the one I want to share, I want to address your point, Felicia,
07:17because I think that it is very important, especially early on, to be mindful of what people are offering you
07:25and understand who you're going into business with, right?
07:28Because it's like a relationship.
07:30It's like a marriage.
07:31It is a business partner.
07:33I think it was in the interlude of one of Solange's tracks where she has Master P speaking about how he was almost about to join a record label for $2 million.
07:42He knew if someone was willing to offer him that and he wasn't even getting started, then imagine how much he truly was worth.
07:49And I think that's very important to keep in mind as you build anything.
07:53I think the biggest challenge or what I've learned the most from is don't let good enough be the enemy of perfection,
07:59or don't let perfection be the enemy of good enough, meaning just do it, just launch it.
08:03And I think so often we focus as entrepreneurs trying to get something perfect.
08:08Before we bring it to market, then you bring something to market that consumers don't like or don't resonate, and then you're heartbroken.
08:14And so if you have an idea, if you want to do something, test it out.
08:18We started off Swella as a pop-up in Atlanta.
08:21We occupied three seats and a salon of nine, and now we have all nine seats.
08:26And so I just want to encourage for any entrepreneur out there or someone who has a business idea, just do it.
08:32Just start something.
08:33No, that's fantastic.
08:36So Intergy Foundation, in partnership with New Voices, provided $150,000 for great ideas, great founders, great business plans, great pitches.
08:53And so it's really in descending order in terms of how the funds were distributed.
08:59You know, so Swella was first and then so on.
09:02But the interesting thing that happened through this, Rod West, my colleague, I talked to him this morning about the pitch competition and how it was.
09:14And he talked about how outstanding each of them were.
09:17Very, very difficult to decide.
09:20And so I just want to tell you, you know, congratulate you on everything that you've been able to accomplish.
09:28So these funds, I'm curious, how will you use these funds to grow and support your business?
09:35Felicia, why don't you start with this?
09:37Yes, yes, yes.
09:38Thank you for the funds, first of all.
09:41So many things.
09:42First, I wanted to put a little of it into our marketing strategy because, you know, you can have a great product or service all day long, but if no one knows it exists, you're not going anywhere.
09:54And then I was so grateful that we did go viral, kind of almost wiped out our inventory.
10:00So I get to order more inventory.
10:02I'm so excited about that.
10:04So thank you.
10:05Okay.
10:05Brooke?
10:05So we will put it toward a second location.
10:09So for those of you who were not at the pitch competition, Suella is a braid bar.
10:13We are trying to franchise, and we believe black women will be the perfect franchisees.
10:18And so we're working on a second location, and this money will go toward that.
10:22Okay, fantastic.
10:23And for us, we're in over 2,500 stores, so we need more inventory.
10:28Right.
10:28So that is exactly where the money is going to.
10:33Okay.
10:33Everything she said, inventory and marketing.
10:37Like she said, we're in 2,500 Walmart Target and CVS, so we want to take care of that business and keep inventory in stock because we're selling out.
10:45Yeah.
10:45Well, before I get to my fun question, I really would like for you guys to provide any advice and counsel.
10:54I know that where you are now was not an easy road.
10:58And so I think everyone would benefit, but especially African American females who have ideas, who want to be in business for themselves.
11:07I believe they would really benefit from some advice and counsel.
11:11So let's start with you guys.
11:13For us, I would say surround yourself with people that understand what you're trying to do.
11:20When we were early on in our journey, halfway point, we subscribed to the New Voices newsletter, and then we were integrated into the New Voices family and community, and there's a lot of resources.
11:31They do a lot of content around how to think about legal, how to think about merchandising.
11:37So I just think it's this untapped network that I would highly encourage you if you're serious and a woman of color.
11:42And I would say, you know, take care of yourself.
11:44I think that this journey, entrepreneurship journey, can be, there's a lot of highs and lows.
11:49And I think sometimes as black women, we put ourselves last.
11:52So figure out what are the things that you need to do to take a step back to recharge.
11:56Is it meditation?
11:57Is it therapy?
11:58Is it family time?
11:59Is it spending time with your children?
12:01Because if you're serious about building a big business, it's a long-term commitment.
12:05It's a marriage of at least 10 years, right?
12:08So you want to make sure that you pace yourself and you take care of yourself so that you can, you know, come ready to win big and show up for your team.
12:16And also that there's a lot of free resources on Google.
12:20Literally, you guys should just Google yourself away.
12:24A lot of answers are already out there, how to start a business, where to start, where to get product, you know.
12:32Just resources are online.
12:35So Google, Google, Google.
12:38All great stuff.
12:40Let me tell you, never let fear be your driver.
12:44Don't be afraid to step out there.
12:47Don't wait.
12:48You can't do that.
12:50I almost waited.
12:52And please believe, just because you have come up with something, don't think you're the only one that is.
12:57You always have to be the first to execute.
13:00I'm about making generational wealth for me and my family and, of course, saving lives.
13:07And stuff like that can't wait.
13:08You got to do it.
13:09And then I would say the key is two types of people, those who can build alongside you.
13:17So that's like my co-founders, Zambria, my mentors, people who have helped us along the journey.
13:23Because, yes, it was difficult, but it would have been a lot more difficult if I didn't have others to lean on.
13:28And then the second are people who are in a similar position as you, other entrepreneurs, but maybe they don't see themselves as competition.
13:34And that's important, just so that you can be honest and have conversations.
13:39And when you're scared, say you're scared and have that safe space where someone can relate to you on a different level.
13:45Oh, that's fantastic.
13:47So we are all here.
13:48None of us would be here today doing this if it wasn't for Essence, Essence Fest and new voices, right?
13:54So we really owe Essence a round of applause, I think, and really congratulations for coming up with this idea and evolving to the place where businesses like yours can be supported in this way.
14:13But really thinking about Essence, I'm really thinking about how important it is to Intergy.
14:20Certainly Essence being here is a huge economic impact for this city.
14:24You see all the vendors here and, you know, everybody in business here understands what it means to be able to sell and generate revenue.
14:33So Essence actually means that to the city of New Orleans.
14:36But it also means so much to so many different people.
14:41For me specifically, my family and I have been attending Essence for the last 20 years.
14:46And so it's just a great time for us.
14:49It's a great time to see African Americans who are doing great things.
14:53And all the negative things that you see on television and the media about African Americans, you don't see that when you come to Essence.
15:02This is what African Americans, this is what it really is.
15:05You know, this is the real.
15:06And so that's what it means to me.
15:07I really like to figure out from you, who I know you have something that's really important, you know, and what it means to you.
15:15But just generally, I'd love to hear from you.
15:18What does Essence mean to you?
15:20I love that question because I was actually texting a girlfriend about it yesterday.
15:24I was walking through one of the activations and they were playing double Dutch, hopscotch.
15:29And I was just kind of like, I was telling her, like, sitting in this moment, you know, because we come from, we're Afro-Latinas, meaning we're culturally Latin, but we embrace our black diaspora.
15:39And I told her, I love Essence.
15:41Like, it's so amazing to watch black love, black people making money, black people just pouring into each other, the quality of the panel.
15:49So Essence to me is a recharge from the regular world, the rooms in which usually Saeed and I are the only women of color sitting at the table.
15:56So every year we make a specific investment to show up, to interface with our customers, but also to get our black girl magic recharge that we need, that sauce and that swirl so that we can go back out there and, you know, fight the good fight of, you know, showing that blackness is intelligent, that blackness is smart, that blackness is capable of being investable, right?
16:18We have businesses that can be invested in and that blackness can be great.
16:23So that's what Essence means to me.
16:25Yes.
16:25And to add to what my sister said, Essence is just a great energy.
16:33We see the same people over and over again.
16:36They come to us and they're like, oh my God, you guys inspire us.
16:40So we're getting inspired by them, but they're also getting inspiration from us.
16:44So I think it's just a two-way street of inspiration and love.
16:49And we just love the energy.
16:51I have always wanted to come to Essence for a long time and never have been able to get here.
16:59And I'm just so grateful to be here.
17:00And when I'm here and I look around and I see all of these beautiful black faces, and I'm telling you, just, just, I'm at a loss for words.
17:11Simply because, I mean, like I said, there is talent there.
17:13I always say, the talent is not hidden any longer.
17:18You know, no one can not say, okay, we don't know where the smartest person is.
17:22We don't know where the innovators are.
17:24You know, we're all here.
17:26You know, and to see everyone here in this space is just so overwhelming, actually.
17:31And I love it.
17:32That's what Essence means to me.
17:34To me, it's confirmation.
17:38I mean, my ultimate goal is that I want Swella to be the first predominantly black-owned franchise.
17:44And I think you take that to a lot of investors, and that's hefty and that's heavy.
17:48But when I come and I see you all and I see the talent and I see all that we can do, I'm like, no, we can do this.
17:55We can do it.
17:56And so, to me, it's confirmation.
17:58No, that's fantastic.
18:00Well, that does it for my questions today.
18:03Before we end, I just want to say I'm a girl dad.
18:08You know, my daughter is 20 years old, and my wife and I are, you know, we only have one, so we're focused.
18:17And I wish she was here right now to see this demonstration of intelligence, this demonstration of courage, this demonstration of tenacity, because that's what I see.
18:30And I'm so proud of what you have been able to do, and I wish Intergy could do more.
18:38And we will, in partnership with New Voices and in partnership with Essence.
18:44And so, thank you for spending your time with us this afternoon.
18:47Of course.
18:49Thank you, everyone.
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