Breana Patel is a Founder & CEO of a minority woman owned Consulting firm, Bonova Advisory, which provides strategy, business transformations, and compliance advisory for regulatory reforms to banks and State/local and federal agencies. She is passionate about women empowerment, being an active angel investor, and loves to mentor startups.
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Asana – Breana’s small business resource
The Little Red Book of Selling – Breana’s Top Business Book
Bonova Advisory – Breana’s website
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3 Value Bombs
1) Do your due diligence when it comes to pricing your product or service—many price too high or too low.
2) Your business may have seasons, so be ready to pivot your strategies and increase your streams of income.
3) Don’t skimp when it comes to great people for your team—they’ll set the bar for your entire company.
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(click the time stamp to jump directly to that point in the episode.)
[01:12] – Breana is an entrepreneur, investor, and an animal lover
[01:51] – She is obsessed with businesses, innovations and ideas
[02:20] – Her area of expertise is in pricing products and services right
[03:04] – Breana finds that most businesses price their products/services either too cheap or too expensive
[03:24] – “Not everything expensive is good”
[03:48] – Do thorough research regarding the value of your product or service
[04:34] – Worst Entrepreneurial Moment: When Breana initially launched her firm, she thought it was a good idea that she was in an industry with great demand. In 2014, she realized that there was no revenue coming in certain months of the year – the revenue was seasonal. She failed to realize her business was cyclical
[06:27] – Breana wished she had understood that every business has ups and downs and that she needed several lines of revenues to keep up
[06:59] – Pivot your strategy
[07:31] – Entrepreneurial AH-HA Moment: When Breana started her business, she went ahead and really got the resources and top people that she needed—even if they were expensive. Her leaders formed the standard that became organic throughout her team of employees because they had people to look up to
[08:33] – Don’t cheap out on your resources to maximize your profits
[08:56] – Stick to your quality
[09:11] – What is the one thing you are most FIRED up about today? “I think the biggest thing I’m fired up about today is change and empowerment – economic empowerment specifically”
[13:04] – The Lightning Round
- What was holding you back from becoming an entrepreneur? – “I guess lack of experience”
- What’s the best piece of advice you’ve ever received? – “Never put off for tomorrow what you can do today”
- What’s a personal habit that contributes to your success? – “I write my top 3 priorities in 3 areas which are personal, professional and social”
- Share an internet resource, like Evernote, with Fire Nation – Asana
- If you could recommend one book to our listeners, what would it be and why? – The Little Red Book of Selling – “sales is one quality that is mandatory for every entrepreneur to have”
[16:12] – “Always be a lifelong student”
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