What's The Big Idea?

Investors get seven 'pitches' at DI Club on June 29

When many of us think about eager entrepreneurs pitching their products or services to potential investors, we conjure up images of the popular television show Shark Tank – a program known for its biting remarks and competitive wrangling.

But for those who took part in the “What’s the Big Idea?” pitch night held at Daniel Island Club on June 29, there were no cutthroat barbs to be heard. In fact, a predatory atmosphere was intentionally missing.

As explained by the event’s planner and self-proclaimed “Destiny Coach” Dianne Shaver, CEO of Entrepreneur Mind World, the program had a different objective.

“This is not Shark Tank,” Shaver told the crowd in her opening remarks. “…You will not see somebody saying ‘OK, I’ll give you $250,000 for 25 percent equity’…Those conversations will happen after the event. What the entrepreneurs are doing (here) is letting our investors know ‘this is what we’re doing, this is what we’re looking for, and this is our goal.’”

The event provided a comfortable environment where entrepreneurs could share focused information on their products and services with potential investors, who in turn were supportive and offered positive feedback. Presented by The Daniel Island News and sponsored by Daniel Island Real Estate, SunTrust, and the Daniel Island Business Association, the program began five weeks ago when participants enrolled in Shaver’s Pitch U, an intensive training program for start-ups.

Shaver had several “students” to shepherd through the process – Jarrett Hodson of Because You Served, a free real estate listing and marketing service for veterans; Sean Burger of Scrubzone, an automated hand-washing machine; Steve and Gail Salomon of Mission Essentials, a skin care company that produces natural, Earth-friendly products; Jesse Williams and Richard Souffrant of BidLan, Inc., a software and consulting firm that aids minority businesses in bid procurement; Tomeaka Fladger of Thumb A Ride and All Things are Possible, a social web solutions company; and Rich Estes and Justin Hudd of Hometrackr, a firm offering web-based home history reports. One additional entrepreneur asked not to be identified.

Presenters were given five minutes to pitch their ideas to an expert panel of business-savvy investors with impressive resumes – William Harley, Lenna Ruth MacDonald, David Mendez, Jack Liles, and Brad Rose. Time was then given for investors to ask follow-up questions of the entrepreneurs. Collectively, pitchers requested over $4.4 million in financial help to launch or support their new companies. Overall, the process and program received multiple kudos from all involved.

Hodson was first to present, telling panelists he is confident his business, Because You Served, will revolutionize client generation for real estate professionals while providing a valuable benefit to military veterans.

“I thought the entire program was great,” said Hodson, who reported this event was the first time he has pitched to potential capital investors. “If you could have seen our progress from early on, the first week until today, some of these guys had it down pretty well, but it was unbelievable how much better we got week after week…It was a great experience for me and I think for everybody else involved.”

South African native Sean Burger, who pitched for Scrubzone, told panelists that his product saves time, water and lives by providing a nine second automated hand wash to users. After his presentation, he expressed deep appreciation for the opportunity to share his vision.

“It’s incredible,” said Burger, who believes his company is on track to become the world’s leading hygiene solution in preventing the spread of harmful bacteria and pathogens. “You get put up on stage, the nerves straight off the bat swing you, but you’ve rehearsed long enough that you make sure you know what you’re doing! At the end of the day, you’re talking about a company – and it’s your company. If you struggle to do that, then why are you on stage in the first place?”

Burger went on to compliment Shaver and her Pitch U and “What’s the Big Idea?” programs for giving him the incentive to push Scrubzone in the right direction.

“All of these things that she’s put together really help,” added Burger. “And hopefully the seven of us will really get to that next stage…I’m doing this because I want to make money and I want to create a difference in this world.”

For Daniel Island residents Steve and Gail Salomon, the event was also the first time they have officially pitched their company, Mission Essentials, to investors.

“It’s pretty exciting!” said Steve. “I was pretty nervous. Typically, I’m putting together long slide presentations…This one we had five minutes, so I talked really fast to try to get it all in...For us, really most of it was questions versus feedback, which was good.”

An added bonus for Salomon was finding out after the program that investor Brad Rose and his family are already users of Mission Essentials products.

“The odds that someone in the room would be using our stuff is pretty good,” he said. “...We’re hopeful. These are the key guys. Maybe somebody has an interest and they’ll give us a call!”

Jesse Williams of BidLan, Inc, said his web-based company has created a vendor management tool that offers disadvantaged businesses a way to connect with larger companies in need of their services. He is hopeful the investors who heard his message will buy into the idea.

“I thought it was good,” said Williams, when asked about the effectiveness of the program. “I learned a lot. Every time we met, we made notes. I’m hoping this turns into something good!”

Seeking a way for individuals who are unemployed, due to a lack of transportation, to find jobs and build workforce experience, Tomeaka Fladger has launched “Thumb A Ride.” The online social ride share platform matches those in need of a ride to work with another driver’s natural commute. Fladger believes the carpooling service app could be a game changer for people at the bottom of the socioeconomic ladder.

“A lack of transportation does cause a decision not to pursue employment or to stay passive,” she said, in her remarks to the panelists.

Fladger got high praise from several investors for the idea, as well as good feedback on things she can focus on moving forward.

“Now that it’s over, I’m glad I participated!” she said, after her presentation. “I am not at the same stage as everyone else, so it did make it a little more difficult for me. But over the five weeks, I did gain more confidence! I think it was all very positive. Where I work every day, I know the product is needed. So it’s just a matter of how do I make it happen? How do I make it work?”

If you can order a report on a car’s maintenance history before buying it, shouldn’t you be able to do the same thing for the purchase of a home? Rich Estes of Hometrackr thinks so. His company provides free home history reports to those in the market to buy a house. He told the group his company already has solid technology, proven market demand, and a great team at the helm. He believes the timing is right to bring new investors on board.

“I thought the event was very well put on,” said Estes, a former Daniel Island builder. “There are a lot of pitch events put on all over the country, and in Charleston more and more. They’re very start-up driven and usually done in these impromptu places. But this one was pretty classy! You just don’t see that much.”

Estes went on to praise the mentors provided through the program, including Earl Bridges of Good Done Great, whom he said helped transform his presentation. As for any future investments into his company, he is cautiously optimistic.

“I’ve pitched enough to not necessarily have that expectation,” he added. “I think investors don’t like that expectation to be placed on them. That’s my opinion…So when I reach out to them, I’m just gonna call them and say ‘Hey, let’s have a cup of coffee and talk some business!’”

But at least two of the panelists at the program do plan to give serious thought to investing into the businesses they heard about at the event. While they aren’t announcing plans just yet, they were certainly encouraged by what they heard.

“They are almost all very impressive business models,” said Jack Liles, a Citadel graduate with a broad background in sales and marketing leadership. “And at varying degrees of maturity, from just an idea to people making money at it. These things are great. It’s a good opportunity to connect investors with potential opportunities, but hopefully (the entrepreneurs) learn stuff, too.”

It can be tough, admits Liles, but perseverance can make all difference.

“Most serial entrepreneurs, they’re gonna flush through five, six, eight or ten ideas until they get the one that sticks and works. It’s as much an exercise in learning how to fail and when to fail and say ‘OK, that one didn’t work. Let’s move on.’”

“I thought overall they were good,” added investor Brad Rose, a Daniel Island resident, who began his career as an international commodity trader. “For me personally, I’m a product person, so when I see products or something tangible, I’m more interested in that…I thought there were some interesting things presented, so we’ll see…I will definitely be looking at their ideas and talking to them!”

The glowing feedback was most certainly welcome news to Shaver, who is more than confident her charges will see an excellent return from their participation.

“My gut feeling is yes,” said Shaver, when asked if she thought the pitchers would get some financial backing after the program. “…Sometimes it takes a year to get funded. It’s a long conversation. It’s not Shark Tank. Investors want to see certain things happening. There are milestones they want (the entrepreneurs) to reach. It’s a very complex thing…But I am really proud of them. I’ve watched them through the whole process…Today was brilliant and they were all perfect!”

For additional information on Shaver’s programs, please visit www.entrepreneurmindworld.com. The next “What’s the Big Idea?” on Daniel Island will be held in March 2017.

Daniel Island Publishing

225 Seven Farms Drive
Unit 108
Daniel Island, SC 29492 

Office Number: 843-856-1999
Fax Number: 843-856-8555

 

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