Starting a business is exhilarating. That initial spark—the idea—can feel like it's enough to fuel your venture from concept to market. However, as Kenny Jen, the 2nd most popular break dancer off Wall Street and a seasoned CFO for Consumer & Retail brands, emphasizes, it's not just about going big or bursting onto the scene with fanfare. Sometimes, the smarter move is to scale back and plan more meticulously.

Underestimating the Runway

One of the most common pitfalls for new brands is underestimating the amount of capital and time needed to launch successfully. "Brands often think they're ready to launch before they really are," Kenny explains. The excitement can overshadow the necessity for thorough planning and enough buffer to address unforeseen challenges.

Beyond the Founder’s Mindset

If you remain trapped in the founder's mindset, you'll likely miss what the market actually needs. Transitioning from a founder’s perspective to a consumer-centric approach is crucial. Understanding why consumers choose your product—or why they might not—can be the difference between a brand that survives and one that thrives.

Simplifying Financial Models

Finance can intimidate many entrepreneurs, particularly those more creative than numerate. Kenny's approach? Keep it simple. Start with a basic model of what you think will work, test it, and be ready to pivot quickly based on feedback. This iterative process allows brands to adapt without getting bogged down by complex financial forecasts.

Lessons from LA’s Cannabis Scene

Kenny's experience with Cannabis brands in Los Angeles has taught him the importance of flexibility in product creation and retail strategy. The market is dynamic, and consumer preferences can shift rapidly. "What worked last quarter might not work next quarter, so stay agile," he notes.

The Cycle of Adjust and Adapt

The key takeaway from Kenny’s vast experience is clear: Launching and sustaining a brand is a continuous cycle of adjusting and adapting. Success doesn’t come from sticking rigidly to an initial plan but from evolving as you learn more about your market and your own capabilities.

Stay Connected!

For more insights and a deeper dive into our conversation with Kenny Jen, follow our page and watch the full discussion here. We promise, it’s not only informative but also incredibly engaging!