Podcast Summary: "The Breakfast Club" – Episode: Black Tech Green Money: Bea Dixon of The Honey Pot Co.
Release Date: June 14, 2025
Hosts: iHeartPodcasts
Introduction
In this episode of The Breakfast Club, hosted by iHeartPodcasts, the spotlight shines on Beatrice Dixon, the co-founder, CEO, and Chief Innovation Officer of The Honey Pot Company. Bea Dixon shares her inspiring journey of building a game-changing feminine wellness brand from the ground up, navigating the complexities of fundraising as a Black woman, and scaling her company while staying true to its core values.
Bea Dixon's Journey with The Honey Pot Company
Beatrice Dixon discusses the humble beginnings of The Honey Pot Company, which launched with a $21,000 loan and has since grown into a multimillion-dollar business available in major retailers. She emphasizes the importance of combining passion with opportunistic business strategies.
[04:22] Beatrice Dixon: "We started with a dream, literally. From launching with a $21,000 loan to building a multi million dollar business stocked in major retailers..."
Raising Capital: Challenges and Romanticization
A significant portion of the conversation delves into the challenges Black entrepreneurs face in fundraising. Carlos Miller highlights the romanticization of raising capital, especially post-COVID and the George Floyd movement, noting an influx of funds that may not always align with a company's readiness.
[15:08] Beatrice Dixon: "What if you could have all three [Better, Cheaper, Faster]?"
[32:32] Carlos Miller: "You need profitability in your view. You may not be profitable yet, but you have to be able to tell the story of how you're going to get over there."
Bea concurs, emphasizing that while access to funds has improved, the timing and strategic use of capital remain crucial for sustainable growth.
Building Profitability and Strategic Growth
The discussion underscores the importance of profitability over mere capital acquisition. Carlos Miller draws parallels with companies like Dollar Shave Club, illustrating how strategic growth and subscriber bases can lead to significant valuations, even if profitability isn't immediate.
[31:26] Will Lucas: "Do you see enough of us doing that or is..."
[32:32] Carlos Miller: "Profit is the goal all the way, every day."
Bea Dixon echoes this sentiment, advocating for responsible business practices and emphasizing that sustainable profitability is essential for long-term success.
Navigating Mass-Market Retail and Shelf Placement
A critical topic addressed is the challenge of securing and maintaining shelf space in major retailers like Target. Dixon explains the complexities involved in getting products on shelves and the subsequent difficulties in remaining there, especially when sales metrics don't meet retailer expectations.
[35:44] Carlos Miller: "What's really hard is when your business is not... your sales are down."
[37:42] Carlos Miller: "It's heavily operational, it's heavily logistical... It just doesn't work that way."
Bea emphasizes the need for brands to understand the retail landscape thoroughly to survive and thrive in mass-market environments.
Leadership and Company Evolution
As The Honey Pot Company scaled from a small operation to a team of over 70, leadership dynamics evolved. Bea Dixon discusses her transition from handling all aspects of the business to delegating responsibilities to specialized leaders, highlighting the importance of trust and adaptability in leadership.
[48:34] Carlos Miller: "I have to have the ability to respect that... I have to let her lead."
[53:38] Will Lucas: "We have to die to our egos... keep that human at the forefront."
Bea identifies herself as a transformative leader who values her team's expertise and fosters a collaborative and respectful work environment.
Breaking Down Store Segmentation Based on Demographics
A pivotal moment in the conversation addresses the issue of segregated product sections in retail stores. Dixon questions the rationale behind placing products targeted at specific demographics (e.g., Black sections) and advocates for a more integrated shopping experience.
[46:55] Carlos Miller: "Why would my products work in an area of the store that's allocated for humans of color? That's weird."
[47:23] Carlos Miller: "It's a better shopping experience when you can walk a store and navigate it the way that you would typically navigate."
Bea supports this viewpoint, arguing that segregating products based on demographics can hinder the natural shopping experience and limit brand visibility.
Support vs. Scaling in Business Growth
The final segment explores the balance between relying on customer support during the early stages and transitioning to independent growth. Dixon explains that while initial support is crucial for testing and establishing a presence, businesses must eventually scale beyond this phase to achieve sustainability.
[59:26] Carlos Miller: "Every single business has to go through the support phase before they get to the next one."
[60:15] Carlos Miller: "We all need each other... Brands cannot survive without human beings consuming our products."
Bea emphasizes the importance of moving past the support phase by focusing on product velocity and expansion strategies to ensure long-term success.
Conclusion
Beatrice Dixon's insights offer a compelling look into the entrepreneurial journey within the Black community, highlighting both the opportunities and obstacles faced. Her emphasis on strategic growth, profitability, and breaking down systemic barriers in retail provides valuable lessons for aspiring business leaders. The episode concludes with a call to action for entrepreneurs to build their businesses with confidence, leveraging both community support and strategic planning to achieve lasting success.
Notable Quotes:
- Carlos Miller [07:24]: "You don't get rich... having the ability to stock 20 plus in your bank account, which is..."
- Beatrice Dixon [11:05]: "We're a communal community... we're a transformative leader."
- Carlos Miller [32:32]: "Profit is the goal all the way, every day."
Section Breakdown:
- Introduction – Overview of the episode and guest.
- Bea Dixon's Journey – Founder’s background and business growth.
- Raising Capital – Challenges and perceptions surrounding fundraising.
- Building Profitability – Importance of sustainable business practices.
- Navigating Retail – Securing and maintaining retail shelf space.
- Leadership Evolution – Transitioning leadership styles as the company scales.
- Breaking Segmentation – Advocating for integrated product placements.
- Support vs. Scaling – Balancing early support with independent growth.
- Conclusion – Summarizing key takeaways and lessons.
This comprehensive summary encapsulates the essence of the episode, providing listeners with valuable insights into building and scaling a business within the Black community, navigating fundraising challenges, and advocating for inclusive retail practices.