Today’s special guest is Veon Brewster. Many of you may already know her from her appearance on Shark Tank. She is the CEO & founder of Veba Baby. We have already covered Veba Baby Shark Tank Update separately, so you can check that out.
Recently, I contacted Veon for a short email interview. I’m happy to say that she was responsive and answered my questions. I appreciate her for taking the time to provide such thoughtful responses. I hope this short interview will prove to be helpful for our audience. This conversation is a great chance for us to learn more about her journey and get some valuable advice from her experiences.
Introduction and Background
Sara: Please tell me about yourself, your background, education, experience, and position in the company.
Veon: I’m Veon, the CEO and co-founder of Veba Baby, where I lead our product strategy and user research. I bring over 10 years of product development experience, having worked with some of the largest tech companies like Salesforce and PricewaterhouseCoopers. I hold a Master of Science in Global Strategic Communications and am currently pursuing a PhD in Computer Science at Florida International University. Like many moms, I found managing breast milk expiration to be quite challenging, but my priority was always to ensure my baby was healthy and well-nourished. This personal experience inspired me to create Veba. I wanted to address the issue of expired breast milk and formula, which can lead to both nutrient degradation and harmful bacteria growth. At Veba, our mission is to ease parents’ concerns about their infants’ health and well-being, ensuring that they always receive the highest quality nutrition possible.
Pre-Shark Tank Preparation
Sara: Can you describe the journey and preparation that led up to your pitch on Shark Tank?
Veon: Since we were only five weeks post-launch, we were thrilled to be vetted to present our pitch to the Sharks. While we were just getting started, we knew that our inspiration, above all, was that parents worldwide understood the need for Veba. Honest conversations we had with parents every day motivated us to give everything we had when preparing our pitch.
Valuation and Strategy
Sara: How did you decide on the valuation you presented to the sharks, and what was the strategy behind your initial ask?
Veon: Veba launched just five weeks prior to filming Shark Tank! We were very early and therefore focused our valuation on projections for our first year of sales. We were still producing our very first batch of inventory and focused our ask on manufacturing and customer acquisition.
Post-Shark Tank Impact
Sara: What happened to your company after appearing on Shark Tank in terms of investments and business growth?
Veon: Since appearing on Shark Tank, we have noticed an uptick in customers. Additionally, the support we have received via social media and our website has been overwhelmingly positive. We can’t wait to continue sharing Veba with the world and have been so grateful for this opportunity.
Additional Investments
Sara: Have you secured any investments from other investors since your appearance on Shark Tank?
Veon: Yes, we have! Since our appearance on Shark Tank we have secured an Angel investor and successfully raised a crowdfunding campaign on Kickstarter!
Business Strategy Evolution
Sara: How has your business strategy or operations changed after your appearance on Shark Tank?
Veon: We have pivoted from a purely B2C business model and have now secured B2B partnerships with medical facilities, such as hospitals, that care for infants. We are also focusing more on the health impact of consuming expired milk, providing educational resources on the topic to parents, and leveraging our Medical Advisory Board as ambassadors of our mission.
Challenges
Sara: What were the biggest challenges you’ve faced since your appearance on Shark Tank, and how have you addressed them?
Veon: After our Shark Tank appearance, shifting from a B2C to a B2B sales strategy posed a challenge, especially with customer discovery in medical facilities. Our first goal was to establish a Medical Advisory Board to guide us and better understand our new customer base and their needs. This board has been instrumental in addressing these challenges and overcoming obstacles.
Long-term Objectives and Influence
Sara: What are the long-term goals for your company, and how has Shark Tank influenced these goals?
Veon: Hearing the advice from Mark Cuban to lean into being a medical device and not simply a convenient expiration tracker, was one of the most influential pieces of advice for our business. Our long term goals are now focused on how we can influence infant care and health in medical facilities by helping improve efficiencies for tracking expiration.
Advice for Future Contestants
Sara: What advice would you give future entrepreneurs considering applying for Shark Tank?
Veon: Go for it! It can be intimidating to think of answering questions from the Sharks in a rapid fashion, with bright lights surrounding you and high definition cameras at every turn. It isn’t your average business meeting. But within 30 seconds of starting my pitch, the nerves subsided, and I was in the zone — I actually forgot about the cameras! If you’re fortunate to make it to that point, remind yourself that you know your product and market more than anyone else — remember to be your biggest cheerleader! Nailing the pitch naturally involves lots of practice and knowing your numbers, but an important component is remembering why you started to build your product in the first place. What is the human need you are solving for? Focus on the user story and their pain point. Telling that story from your user’s perspective places the Sharks in their shoes, and weaving that narrative into your pitch creates a compelling story. Your pitch becomes more than the features you’re bringing to the market and more about the human need you’re solving.
Hello everyone, I’m Sara Javed. I’m an IT professional expert with project management and design skills. Besides writing, I love playing video games, designing digital art, and reading books. I love Shark Tank due to its innovative business idea and unpredicted reactions of Sharks. This keeps me glued to the screens to watch the next catchy moment. Read more About me.
