Launching a Product Based Business During a Pandemic
2.25.2022
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LISC StoriesEconomic Development
Vernon Yancy was inspired to start SOSS back in 2019 but did not launch until October 2020.
After graduating from Howard University with a degree in chemical engineering in Washington D.C., Vernon started working for consulting firms. In that world, he was regularly faced with the quandary of whether or not to keep cutting his hair to fit into the corporate standard or let it grow out as he longed to do. Once he decided to let it grow out, the look and the decision made him feel more confident and joyful.
He started to do research on how to maintain a great beard and in that process connected with the natural hair resources that were prevalent in D.C. His beard was so nice, it drew attention as folks were asking him what products he used. That inspired him to create products from his own beard-care routine. He left the consulting firm he was working for and relocated back to his hometown of Los Angeles to build out this business idea into SOSS.
New Year’s 2020, Vernon planned out a six-month timeline to launch SOSS. He was 3 months in when the pandemic started to put a wrench in his business plan. “It wasn't until I got emails from my suppliers, saying that they closed their warehouses down and they weren't going to be able to fulfill orders for the foreseeable future, that I realized the pandemic was really going to impact my business,” says Vernon. Suppliers across the board, from ingredients to packaging and everything in between were not able to deliver. Vernon also had content creators that he contracted for photo shoots to get all the marketing materials done cancel due to fears of contracting COVID.
The pressure was intense as Vernon was 3 months away from his planned launch date. He had already invested so much and startup capital he had saved was going to run out if he did not launch on time. However, due to the pandemic, he had no choice but to put some contracts on hold, pushing back the launch from May 2020 to October 2020.
To support Black small businesses in the personal care industry, LISC LA, with the support of Pacific Premier Bank and the James Irvine Foundation, launched the Black Business Excellence Technical Assistance (BBET) Initiative: an accelerator program that provided wrap-around business services to Black-owned businesses in the personal care industry – health, wellness, and beauty – to help take these businesses to the next level.
It was another entrepreneur friend that told Vernon about the BBET program after seeing it in his e-mail inbox. He thought Vernon would be a good fit since the program focused on hair care businesses. Vernon considers himself a forever student and when he saw the curriculum of the BBET program, he was interested in learning more.
"The BBET program has opened doors to so many different opportunities and so much growth for the business and for myself."
The program included learning modules lead by industry experts in the field on strategic business planning, marketing, accounting, raising capital, optimizing supply chain and disaster resilience. Businesses in the cohort were also provided with one-on-one business advising where they were paired with a business advisor with expertise in their industry that they could meet with on a weekly basis. Businesses also had access to several networking opportunities with fellow peers, industry experts, and brand partners in their industry.
“Everyone in the networking sessions were Black and African American so it was amazing to be able to hear from individuals that looked like us that started pretty much where most of us had to start and were able to successfully climb and progress through,” said Vernon. The businesses were also able to hear stories of successful business exits and franchising models. That really made an impact on Vernon because it showed him what was possible with his business and inspired him to refine his vision and strategy for SOSS.
Check out SOSS for all your beard care needs.
