Podcast Summary: "Your Next Move" Featuring Bea Dixon

Title: Your Next Move
Host: Tom Foster, Editor at Large, Inc. Magazine
Guest: Bea Dixon, Co-Founder and CEO of Honey Pot Company
Release Date: November 19, 2024

Introduction

In this insightful episode of Your Next Move, hosted by Tom Foster, Bea Dixon, the visionary co-founder and CEO of Honey Pot Company, shares her extraordinary journey from personal challenges to building a successful plant-based feminine care brand. Recently sold for $380 million, Honey Pot stands as a testament to Bea's resilience, innovation, and dedication as a Black female entrepreneur.

Bea Dixon’s Entrepreneurial Journey

From Personal Struggles to Inspiration ([01:32])

Bea recounts her transformative experience in early 2012 when she battled a persistent bacterial vaginosis infection. Frustrated with recurring treatments, she experienced a vivid dream featuring her late grandmother, who provided her with a list of natural ingredients to create a remedy. Bea followed this guidance meticulously, resulting in her symptoms disappearing within days. This miraculous recovery ignited her passion to develop natural feminine care products.

Bea Dixon: "Anytime I was trying to talk to her, she just kept saying, no, don't look at me, look at the paper. Remember what's on the paper. And so that's what I did." (01:32)

Building Expertise in the Industry ([03:42])

With a background in pharmacy and experience as a floor buyer at Whole Foods, Bea gained invaluable insights into product development and retail operations. Her tenure included roles at Rhythm Superfoods and managing complex responsibilities that eventually led her to dedicate herself fully to Honey Pot.

Breaking into Big Retail: Target Partnership

Navigating Early Retail Challenges ([07:11])

Bea details Honey Pot’s initial foray into retail, starting with Beyond the first retailer, followed by a regional presence in Whole Foods. Her hands-on approach involved pitching the product directly to store managers, showcasing her deep understanding of the market and commitment to authenticity.

Pitching to Target ([08:59])

Addressing audience questions, Bea shares her strategic approach to pitching Honey Pot to major retailers like Target. Emphasizing authenticity and being true to oneself, she offers practical advice on:

• Storytelling: "What made you start your product in the first place?" (09:15)
• Understanding the Market: Demonstrating knowledge of supply chains and consumer needs.
• Authentic Presentation: "You need to be yourself." (12:20)

Bea underscores the importance of genuine interactions over polished personas, advocating for founders to remain true to their identities.

Overcoming Fundraising Hurdles as a Black Female Founder

Breaking Barriers in Venture Capital ([14:30])

Bea discusses the challenges of securing funding in a predominantly white, male-dominated investment landscape. She highlights experiences with bias and the necessity of resilience:

Bea Dixon: "I'm grateful for every one of those moments... you know who they are and it's." (17:50)

Bea emphasizes staying focused on her goals despite setbacks, recognizing the value of perseverance in achieving entrepreneurial success.

Early Funding Strategies ([18:18])

Before major retail partnerships, Bea relied on personal resources, including her brother’s support, to sustain Honey Pot. This bootstrap approach enabled her to innovate and expand the product line, ultimately attracting significant investment and retail interest.

Navigating Social Media Backlash

The Impact of Authentic Messaging ([22:14])

Bea recounts a controversial moment when her statement in a Target commercial advocating for future Black female entrepreneurs sparked mixed reactions. While many celebrated her authenticity, others launched baseless criticisms and negative reviews.

Bea Dixon: "I just remain neutral. I don't need it to be good or bad for me because I know that I can't control that." (27:52)

Responding with Integrity ([27:52])

Instead of engaging with the backlash, Bea chose to let genuine customer support prevail, observing that initial negative reviews were swiftly offset by positive feedback, ultimately benefiting the brand.

Product Development: Following Instincts and Personal Experience

Innovating with Purpose ([30:51])

Bea emphasizes the importance of intuition in product development, drawing from her own experiences and understanding of women's needs:

Bea Dixon: "I have an awareness in that. And then I'm like, oh, I should make a product for this." (34:25)

Simplifying Solutions ([36:50])

Focusing on creating natural, effective products without overcomplicating the process, Bea highlights her strategy of addressing existing market gaps with simplicity and functionality.

Mentoring and Supporting the Next Generation

Building a Supportive Community ([37:20])

Bea discusses her commitment to helping others succeed, emphasizing the importance of self-love and mental well-being. While she offers support, she maintains boundaries to ensure sustainable mentoring relationships.

Bea Dixon: "I don't judge anybody who doesn't do something that's real to them." (46:12)

Embracing Diversity and Cultivating an Inclusive Team

Hiring Practices ([43:42])

For Bea, diversity is a natural outcome of hiring the best talent regardless of background. She prioritizes skill and fit over traditional diversity metrics, fostering an inclusive culture organically.

Bea Dixon: "I hire who is best for the job. And if that means that we are a company that is diverse, then yes, that's what I do." (43:42)

Maintaining Company Culture Remotely ([46:35])

With a remote workforce, Bea ensures regular communication and mutual respect to maintain a strong, supportive team environment. She values each team member's contribution and nurtures a culture of appreciation.

Personal Productivity and Time Management

Staying Present ([48:23])

Bea attributes her productivity to being fully present in her daily activities, allowing her to manage her time effectively and remain focused on her goals.

Bea Dixon: "I'm present all the time. All the time." (48:23)

Conclusion

Bea Dixon's narrative is a powerful blend of personal resilience, authentic leadership, and strategic innovation. Her journey with Honey Pot exemplifies how following one's instincts and maintaining integrity can lead to remarkable entrepreneurial success. Bea's commitment to authenticity, diversity, and community support serves as an inspiring blueprint for aspiring entrepreneurs navigating similar challenges.

Notable Quotes:

• "You need to be yourself." — Bea Dixon (12:20)
• "I'm grateful for every one of those moments... you know who they are and it's." — Bea Dixon (17:50)
• "I just remain neutral. I don't need it to be good or bad for me because I know that I can't control that." — Bea Dixon (27:52)
• "I'm present all the time. All the time." — Bea Dixon (48:23)