Business Owner Shares Tips After Appearing on ‘Shark Tank’

Applesauce is for teenagers, right? Wrong.

Keisha Smith-Jeremie promoted Sanaia applesauce for adult applesauce lovers on Season 10 of the ABC series . After the show, BLACK ENTREPRENEURSHIP caught up with Smith-Jeremie for an interview concerning the show and her company.

No one ever outgrows their Love applesauce. Is it true?

This is completely true. The very best a part of this journey has been proving this proverb true time and time again. Every day I meet adults who whisper to me concerning the applesauce they steal and squeeze out of their kids’ bags, or how they feel like they should pretend they’ve kids after they’re within the applesauce aisle. Millions of adults still love applesauce, and Sanaia was created with us in mind.

The applesauce market is a comparatively crowded space with a couple of major players. How do you differentiate Sanaia? What advice do you will have for other entrepreneurs trying to compete available in the market with the massive brands?

Sanaia is unlike some other applesauce on the market. The category is crowded, however it all revolves around the identical theme: what kids want. Sanaia uses only green apples, while all other brands use red apples. We also add real baked apple slices to each jar, and our flavors are authentically inspired by the island. I believe the hot button is to focus on the client or the issue you’re solving, which nobody else has done. For us, it’s adults who’re satisfied with the taste and texture of baby food in the present applesauce market.

How did you’re taking Sanai’s idea from concept to reality? What advice do you will have for other entrepreneurs or aspiring entrepreneurs developing latest services or products?

The very first thing I did was research other individuals who had already been down this path. I discovered Susie Wyshak’s book. Then I took it a step further and after reading the book, I discovered the creator on LinkedIn and asked her for a consultation. The lesson I learned from that was to be persistent in looking for out the paths which have already been paved and to proactively hunt down advice and guidance. Don’t reinvent the wheel, even for those who’re making a latest product.

You appeared in Season 10! How did you become involved with the show? Tell us a story.

In March 2017, nine months after we launched the corporate, I got an email from the show’s producers. At first, I used to be sure it was a crackpot! We applied and three weeks later we came upon we were going to be pitching in June. The application process is incredibly rigorous, however the production team was really supportive throughout.

How did you prepare to present your organization on the show?

Practice, practice, practice. That first 2-minute pitch whenever you get within the tank is admittedly necessary and you should have a robust one that may grab the sharks’ attention, but the true key to surviving this experience is knowing your online business in and out. I watched hours and hours of shows, wrote down all of the questions, and practiced with my team until I could comfortably answer each one.

Calculating valuation generally is a daunting task for startup founders. It’s also crucial for pitching. What helped you calculate your valuation before the show? What advice do you will have for other entrepreneurs working on valuation?

The valuation process is especially difficult for a young company like ours. We needed to give you something realistic and defensible. The key shouldn’t be to be laughed at by a number that seems too high, but to set a goal which you could reasonably estimate to approach. I consulted with friends who work within the finance sector to check my rationality under pressure, and it was an incredibly necessary exercise to have these hands-on sessions.

Sanaia Applesauce CEO Keisha Smith Jeremie (ABC/Eric McCandless)

Tell us more. What have you ever been working on since starting this system?

Since the show was taped, we’ve been tracking all the consumer interest we’ve received at trade shows this summer. In January, we’ll be on shelves nationwide with our plastic cup offering. That first moment I see Sanaia on a food market shelf will bring much more tears than those Sharks dropped at me.

How do you intend to develop the corporate in 2018 and beyond?

In 2019, we’re focused on establishing Sanaia because the definitive alternative for adults who love applesauce. We consider our single-serve plastic cup offering is the proper option for breakfast, in addition to midday and after-dinner snacks. Beyond grocery stores, we’ll be working to position our Sanaia single-serve plastic cup offering in airports, corporate cafeterias, and universities; mainly, anytime adults crave something light, healthy, and sweet—we wish Sanaia to be there.