Her Story with Meg Pryde: How She’s Using Comparison to Build a Business
On a regular basis we’re being warned about the negative effects of comparison. And that’s true, unless we’re talking about the products sitting on the shelves at Target. And then in that case, watch out because our Her Story Spotlight this week, Meg Pryde, is going be comparing as many of those products as possible for her 7,000 users in her new app, Brandefy, where generic products are stacked up against name brands to determine the best deal while still keeping the integrity of the product.
For those who have ever thought about launching your own app, have had an idea of any kind that’s been shot down or you just love to shop, you’re going to want to read Meg’s interview below. Here, she shares her experience launching, the naysayers in the beginning, and a goal of 60,000 downloads in 2019 to help those shoppers save millions of dollars.
If you’d like to be a part of the group that Meg has set out to help, I hope you’ll download her app, Brandefy to find out if you should risk buying the store brand and start saving money!
Meet Meg - 5 Fun Facts:
1) Played polo in college.
2) I have 2 fur nieces, 2 human nieces, and one nephew.
3) I got married to Kyle Pryde, last summer.
4) I had LOTS of pets growing up, including horses, a bunny, a goat, cats and dogs. I even convinced my parents to let me get a hamster.
5) Currently in Cincinnati, OH as part of the BRANDERY COHORT.
Tell us about the Brandefy App!
Brandefy compares store brands to name brands to help us ladies save money. I love it because it tells me if the up & up (Target’s store brand) is as good as the name brand, so I can save money on my next Target run, which can quickly get out of hand!
What's the backstory? How did it get it’s start?
I worked in private label consumer packaged goods and learned that often the store brand and name brand come from the exact same factory line. I think consumers should know when this is the case! I don’t like getting tricked by marketing - but also don’t want to waste money on bad store brand duds.
What have you and the team been up to recently with the app that's been most exciting for you?
We’re launching at Target this month!!!
So many of us have "failed" at something or are "failing" with a current business, idea or project and might need some encouragement to keep going. Can you tell us about a challenge you have you had to overcome to get where you are now with the podcast? How were you able to overcome that or what are you doing now to overcome that’s working?
You have to learn to filter advice early on, and focus on the people who believe in you. In terms of is your business a good idea or not, the only people you should listen to is your customer or consumer. I’ve had many people say that this was a bad idea, and that people don’t shop this way. But we just hit 7000 downloads and 40% of our users are using it every time they shop. So I try to look at the data, and when someone says “Do people actually compare products to save a couple bucks?” I want to say “Thank you, next”!!!
The best way to deal with that is to focus on the amazing mentors you have that do believe in where you are going — Ours give us practical advice that steers us in the right direction and have shaped our platform in ways I am so grateful for. They’ve helped me anticipate what’s around the corner. So, don’t sweat what any expert says - unless they’re your customer.
What would you say has been the main key so far to helping you get to where you are now?
Mentors, advisers, and a dedicated, hardworking team!
What advice would you give to others looking to work with business partners? The pros/cons? What to look for in partners? How to decide who does what?
Partner early and often but test how you want to partner first.
What are you most excited about for Brandefy in 2019?
We want to hit 60,000 users and save shoppers millions of dollars!
What routines do you have that helped you be successful? How do you start your mornings/end your days?
Coffee!!!! I need my morning cup to center, and look over what I need to accomplish that day. I always like to do one thing to unwind at the end of the day as well, to get my mind on something else. That might be a yoga class, seeing my sisters and her dogs, or roping my husband into watching a cheesy Netflix movie. Christmas Prince, anyone?
Are there are technology groups or resources you could recommend for any of the ladies in this group who are wanting to explore this world more or make connections other women in technology?
If you haven’t learned more about 1717 or StartUpVA, I would start there. Also, just start reaching out to people you’re interested in meeting. You’d be surprised at how supportive people are. Start talking through your ideas early and often!
If someone in this group was interested in developing an app, what's step 1?
Prototype the idea without writing a line of code! Read “Lean Startup” if you want more on this.
What tips do you have on fundraising, specifically around pitching your idea to investors in a way that gets them excited and wanting to invest?
Ask for advice early before you even need money. Build the relationship through consistent communication. I wish I knew this earlier on!
What is a book or podcast you would recommendation for others looking to start or grow their business or just for general positive mindset motivation?
For fundraising listen to the Full Ratchet podcast, and I like The Alchemist for general positive mindset & motivation.
What are some of your favorite apps (outside of Brandefy of course!) that make your life easier?
Slack, and I’m IG obsessed! I also like Vavino for wine :)
For fun: What's been one of the biggest surprises for you with the product comparison results?
They vary so much! For example - the Aldi version of cinnamon pop tarts is on point, but their strawberry version is disappointing!!!
How can people find out more about you and Brandefy and follow along with your progress?
Follow our journey on Instagram!!! @brandefy_
If you’d like to show Meg some love, comment below to let her know about a key takeaway you got from her interview! If you have a recommendation for one of our future Spotlights, please reach out and let me know!