Interview with Karen Perez of Open For Business Brampton: How to Validate Your Business Idea IRL

MoneyHaus President, Ashley Ceballos-Escorcia caught up with Karen Perez, founder of Open for Business Brampton to ask a few questions:

It seems as though everyone has a side hustle these days. The internet and the power of social media has made it easier than ever to have your own online business. Yet so many businesses fail quickly.

This may be because every business needs to be validated prior to succeeding. Most new entrepreneurs don't validate their business ideas, and spend hours and money perfecting a product or service which no one has actually asked for. For business owners that have been able to prove - with actual sales - that they have a real business will still fail due to the fact that connecting with the right clients and selling online needs an accelerant to produce consistent revenue.

Nothing can replace human interaction.
"Nothing beats getting in front of your ideal clients, speaking directly to them, seeing their facial expressions, answering questions, and listening to their stories"

I had a chance to sit with Karen Perez of Open for Business Brampton, a pop-up market based in Brampton to discuss the markets success and find out what advice she has for new business owners:

A Pop Up Market thats Fun and Productive for Shoppers and Businesses

Ashley: Thanks for meeting with me Karen. I'm excited to share your upcoming event.Tell us about yourself first and then, what exactly is Open For Business Brampton and why should folks come out on February 1st?

Karen: Sure thing! I come from the corporate world and now consider myself a creative entrepreneur. After searching for a place where I could showcase my brand and socialize with other local businesses I noticed there was a gap in my community, a need in Brampton and I was called to fulfill it. I was looking for a place where I could showcase my brand, gain exposure and connect with customers and other entrepreneurs like me and it did not exist, so I figured Brampton, there was no good fit for a business like mine.

We have put together a pop up market and brought together amazing local talent and businesses. Our group of entrepreneurs is like no other, we have curated such a great mix of products and service providers that are eager to connect with their clients.

Admission and parking are Free. Our guests will enjoy a unique shopping experience where they can connect with local professionals such as mortgage brokers, personal trainers, photographers and meet them before they work with them. They will enjoy music from our live DJ, shop from 50+ local vendors, and the first 25 customers get free swag bags packed full of goodies. There are even 2 play areas for kiddos to enjoy.

An Important Step, Often Missed

Ashley: During our workshops we help our clients develop their business ideas, do you think that this is a great jump off for a new business?

Karen: There’s so much planning that goes into executing your small business. In fact, there is nothing small about it. With any new business or project, there are so many details to fine tune. Sometimes new business owners miss out on a crucial step which is Validation. Or very often, they do not have access to a resource like our pop-up market where they can connect with their ideal clients.

When you validate your business idea you determine 3 Valuable things:

  1. If there is a need for your product

  2. How much people are willing to pay for your product

  3. Who your target market is

A pop-up market like Open for Business Brampton is a perfect jump off for any new business - it get's vendors in front of real customers. It's also a great place for seasoned businesses who have already validated their idea and have prepared themselves with enough stock to sell.

How To Get In Front of Potential Clients & Validate Your Business Idea

Ashley: Why should local business owners sign up for your next pop up?

Karen: It’s a great way to test the market & gain consumer-testing experience IRL (In Real Life). It's affordable and there are no limitations on our part. Our next pop-up is on May 2nd and we still have spots available.

Ashley: As a creative entrepreneur and successful business owner what is the best advice you can give to someone who is in the process of starting their own business?

Karen: It's important to get your solidify your brand and extend your reach consistently. This means using every tool available to you: social media platforms, networking events, and vendor markets. Although it isn't always easy nothing beats getting in front of your ideal clients, speaking directly to them, seeing their facial expressions, answering questions, and listening to their stories and seeing real-time reactions and best of all making a physical sale. It's what every entrepreneur truly chases and it's what every one of our vendors gets to experience.

Come & Join Us

We hope to see you all at our first market, Open for Business Brampton on Saturday February 1st 2020 - 10am and 2pm. At Century Gardens Community Centre located at: 340 Vodden Street East, Brampton, Ontario L6V 2N2, Canada

Come out and check out the MoneyHaus booth and enter our contest, show local entrepreneurs some love & support. You’ll leave having connected with some amazing businesses & with some unique finds.

Connect with Karen Perez on Instagram.

Ashley Ceballos-Escorcia is the founder of MoneyHaus and a personal finance writer, connect with her on LinkedIn.

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