New Age Store
Jenn and John
Jenn and John, seemed nice people – she said she was a medium and a tarot reader. Her website in fairness has a huge amount of visits and the number of people getting readings is insane. For this business to succeed, it relies on advertising from Google, which poses a problem because at any minute Google can change the way they do business, like Facebook did – and her business is dead overnight.
I did question the business’s legitimacy – simply going online and having the computer randomly tell you your future? Now, if someone were to offer this kind of gimmick for free, then go for, but when you’re charging for it but the computer is generating the results, it is now gone from fun to scam for me.
She got the perfect partner in Naomi as Naomi will be able to maximise the traffic that she has in her business.
I thought these guys were lazy in driving their business, by spending only 2 minutes per month. They could do so much more.
Tips: just because you have happy with the return you are getting, always look at seeing how you can do more. Like is about continued improvement. Have a business that you only spend 2 minutes on, is not a passion or something that will grow with out love.
This was a really interesting pitch, the business was established and the product looked good and worked well on the body. I would not recommend it for the face.
As we worked through the pitch, it became clear that Roberto had gotten himself into some financial problems. He mentioned that Walmart, said that they would take it, but often big box retailers say that they need more than one product, which was the case here. The reality for Roberto was that even if he did create another product, Walmart may not like the product and not supply either, so a there was a big risk here.
He had some strong revenue but as Andrew said, if his business was flying he would not be looking at an investor for half of the business. Then we dug a little deeper and it came clear that for whatever reason, the profit was not there. He had invested a fortune into the business with very little return so the confidence that he could change and start to run the business profitability gave me cause for concern.
I like business to be simple, so the other red flag for me was when I heard that some assets of the business was put into a Hong Kong business entity, which I do not understand why.
Wish Roberto the best, but too many unknowns for me.
Tip: keep business simple, the more complicated the more things can go wrong.
Lee is a number one international best seller of health books about achieving good gut health. Lee started her business like many other people, with a health problem that needed a solution. We underestimate the power of a heathy diet and with the success of Lee’s books, it shows that we are taking more and more or an interest in our health and that can only be a good thing.
Her product is a four week, heal-your-gut, online program. These types of business models are getting more and more popular with people like Michelle Bridges and her online fitness challenge and the Batchelor’s Sam Wood has a health and fitness program also on a similar platform. As most of the work is in the setup, this business model is very scalable and I think Lee is a great brand for this business and has the background, care factor and knowledge to be a leader in this space.
The negative to this investment was that the most profitable part of the business was not included- her books. However, the program and the online store are starting to make money. The business model I like and I think Lee is a great business woman making a difference. She is going to be a great success.
Tips: Do what you love and it is not work. Keep your eyes and mind open to opportunities at all times and you will see businesses everywhere.
New Eye Company
Andy’s business was based on the IC safety system. It was basically a safety glass with the ability to assist people with optical needs.
Andy was a real gentleman, who has this great idea, he had done his homework and came with the appropriate trademarks and patents. Big ticks.
Massive concern for me with this business was when Andy mentioned that he’d had surgery and was away from the business for a period and the business went from profit to loss during this time. This tells me that the business really relies on Andy and as soon as his focus is off the business it goes backwards
Was great to see that Andy started to get some great offers and get a three-way deal with the boys. That will be a great team.
Tip: Starting a business is really difficult and it takes all of you to make it work. A great business however is a business that you can be away from and still runs and thrives. This takes time, but every business owner needs to work hard at doing themselves out of a job.