eeek. Coronavirus has been hard on everyone, especially entrepreneurs. I wanted to be fully transparent and share the monthly update I just sent to friends, family, and investors I've spoken to. I'm doing this because 1.) People rarely see investor update newsletter and 2.) there's always a way to frame shitty things including a pivot. (Below is my family and friends monthly update copy and pasted.)
👋 Hey, friends of Full Reign!
What we're working on
Full Reign is a consumer company focused on curly hair care products. Full Reign is a WI-based Delaware C-Corp.
What a month! After seeing how Coronavirus is disrupting supply chain and the economy, it forced me to creatively think about how I could provide the same amount of value to my customers without needing inventory or large amounts of capital. Furthermore, I wanted to create a business that could thrive in this current economic situation.
After talking to people on my mailing list and various online communities, I've learned that people are craving honest product reviews from real people. Curly-haired people are overwhelmed with the products out there and have a difficult time finding the right products. Currently, they resort to online communities (Facebook groups, subreddits, etc.) to crowdsource the right products for them.
Although review and recommendation platforms exist, none are 1.) powered by real every-day people, 2.) have great search and recommendation capabilities to help users find the right products, and are 3.) catered to the unique needs of curly hair.
The top product recommendation engine for people with curly hair lacks community, a great experience, and a way to find the right products (unless I read all of the reviews of course). Check it out below 👇
And this problem isn't exclusive to curly hair. It's a problem across all beauty products ...
For the month of April, I’m creating an MVP that allows users to easily discover products based on people who have similar hair characteristics as them.
At the core, Full Reign’s mission has always been to provide uncompromising hair care products and experience to a market that has been historically underserved. What’s most exciting about this new direction is that it’s scalable, takes minimal overhead, and is able to influence how people buy products.
Alright, that was the update I sent. What do you think? Would love your thoughts on the pivot too.