Photos: YouTube
Forecasts show that small businesses may see revenue growth this holiday season, but this isn’t the whole story and certainly is not equitable for all. Black and Latinx founders are facing a much larger decline in revenues, a higher rate of business failure and are too often left out on access to expertise and resources that may be crucial to truly reaping the benefits of the shopping rush and surviving into next year.
Ureeka, a community that provides Next Wave Entrepreneurs access to people, programs and connections needed to grow and scale their businesses, is changing this reality.
Entrepreneurs across art, fashion, books, food and other consumer products have rushed to join Ureeka and work with experts to put critical pieces in place for long-term growth. For Black and Latinx business owners, the stakes have never been higher to both survive what has been an exceptionally tumultuous year and to not miss the opportunity to benefit from the increased interest in shopping minority-owned businesses this holiday season.
“We know that Black and Latinx entrepreneurs are creating economic value despite having to fight hard for every dollar of revenue because of bias,” said, Marcela Shine, head of community at Ureeka. “We also know one-on-one support has a direct impact on businesses. It removes the guesswork from their planning and execution. Knowing this holiday will look a lot different, Ureeka coaches and mentors have been working hard to help our members set up for a successful season and continue that momentum well beyond.”
Holiday Success with Ureeka Network of Entrepreneurial Experts
Ureeka members, 90% of which are Black and Latinx entrepreneurs, are working to navigate ecommerce, maximize digital marketing and social media ad spend, set pricing strategies and optimize inventory and logistics. Here are two examples of how Ureeka members are working one-on-one with experts to ready their business for the holiday season. To support Black and Latinx companies this year, shop Ureeka’s featured businesses.
Revol Snax co-founders Dave Birsen and Nadine Calderon worked with Ureeka coach Bev Altberg, former grocery strategy lead for Target CANADA, and peers in Ureeka’s Food Retail Coaching Circle, to introduce new pricing, merchandising and marketing strategies to meet changing consumer buying patterns and ensure sustained revenue post-holiday. Revol Snax is offering new Holiday Bundle Packs this year – a great gift option for health-conscious snackers.
Nadine Calderon, co-founder of Revol Snax shares: “The holidays are a peak time of year for our business but it’s crucial for us to maintain cash flow and orders beyond these couple of months. The hands on coaching provided by Ureeka experts with such deep industry knowledge and the support from like-minded peers in our intimate coaching circle has made all the difference for our company today but also set us up to maximize profits throughout the year.”
That’s Smoooth Shaving & Grooming devised new strategies this shopping season to reach and engage customers across its growing digital channels. Working one-on-one with a Ureeka mentor – a free offering to all Ureeka members – founder Miguel Martinez collaborated on a strategy that included a checklist for ecommerce optimization, targeted email and social media campaigns as well as bundles of best sellers to maximize profits during the company’s busiest shopping days.
Miguel Martinez, founder of That’s Smoooth Shaving & Grooming says: “This year has been unlike any other and staying connected to my customers has never been more important. Having the Ureeka Community and a team of supportive mentors available to chat with me at any time has given me the support I needed to find new and exciting ways of engaging my current customers and reaching new ones. Ureeka was the turn-key set of advisors I needed to gain confidence in rebuilding my business post-COVID.”
Join the Ureeka Community here and gain access to trusted coaches and mentors to help meet your company’s holiday demands and beyond.
