If you ask any venture-backed, Black founder about raising venture capital, they will tell you to prioritize your customers, product, and revenue, over solely chasing after venture capital.
In case you're unfamiliar, Holmes Mouthwatering is an all-natural, applesauce brand made with chunks of real fruit, apple cider, and no added sugar. From the inception of his company, Ethan dedicated his efforts to those exact principles mentioned above and further explained below:
👉🏾 Building an exceptional product: Ethan understood the significance of building a standout product that would captivate his target audience.
👉🏾 Validating the idea and attracting customers: By prioritizing customer acquisition, Ethan ensured his idea had viability and people actually wanted what he was selling.
👉🏾 Driving profitability: Ethan understood the significance of growing revenue, indicating that his product effectively fulfilled consumer needs and desires.
By staying true to these principles, Ethan successfully steered Holmes Mouthwatering toward sustainable growth, long-term success, and attracted the attention of investors 🤑🤑🤑.
Ethan's entrepreneurial journey began during his high school years, driven by his passion for entrepreneurship and inspired by his grandpa's applesauce recipe.
Determined to create his own line of products and to disrupt the global applesauce market valued at over $900 million, Ethan launched his brand.
"To date, we've processed over 500,000 pounds of apples, delivering 250,000 units to consumers across the U.S.," Ethan shared. "In 2015, we landed our first major retailer, Giant Eagle. Then we expanded to Whole Foods Market and Kroger in 2018. We also joined the Chobani Incubator in 2020, raising over $800,000 through grants and investors," Ethan told Mogul Millennial.
Here's a quick look at some of their sources of funding thus far:
Throughout the evolution and growth of his company, Ethan has continuously refined his pitch deck, adapting it to reflect the progress and maturity of his venture.
Let's take a look at Ethan's current pitch deck, and his tips for founders.
*Please note: Mogul Millennial has secured an exclusive copy of Holmes Mouthwatering pitch deck. Some sensitive data has been redacted at the company's request.