The product was a dispenser for a weed killer. It basically worked like a stapler that you clip a leaf with. If I am going to invest in a product or business I need to believe in it as a customer, and I saw a few things would put me off buying it.
First of all, I would think that it would take considerably more time to dispense the weed killer with his unit than with other forms.
Second, his pitch was about using less poison, yet the unit was a dispenser for any product poisonous or not, so I was not sure how he was achieving his goal.
And lastly, if I was using poison and my fingers are only centimetres away that would make me feel pretty uncomfortable.
So, as I wouldn’t buy it, I could not invest.
Omid seemed a very likeable and kind man, but this is a business show, and I had concerns over how long he took to get the product to where it is today. 10 years is a long time to tinker with a product, he also told us he had spent $600K of his personal money, and he was not at market yet. These two things were very concerning for me- his capability of managing money and growing a business.
Good news for Omid was that the boys did not think as I think, and they were very keen on the deal.
Tip: When investing, look at what you are investing as a customer. Would you buy it? You have to believe in a business to invest.
Product was OK. I would not want my husband to use it as when I ran my hands through his hair, my hand was covered in black ink-type stuff.
The picture was very misleading, there is no way that product could create what was in the picture, and you need to be careful when selling a promise.
The biggest concern was the declining sales and that fact that he was only spending about 15-20% of his time on the business. No business is going to take off without 100% focus and to take money for a product and not be solely focused on this product’s success, is a concern.
He blamed things like lack of marketing, when in fact if the product was great, the product would have increased though word of mouth.
Poor selling product, with only 20% focus. No way is this a business.
Tip: do not invest in a business that the founder in not 100% focused in.
10 Way Necklace
Maria was an impressive women. Her pitch went for about 45 minutes and we got to know her background. She was a single mum, juggling motherhood and running this business. I thought the necklace was great for travelling as you do not have to take any other accessories, just simply pack this necklace.
When I mentioned that she was “all in” for me, that meant that there is no other option but to succeed. Every day in business you will have a problem, and it is easy to give up, but when you have everything on the line, this keeps you very motivated.
Naomi won this battle. I wish them every success…….
Hit with me
Love this business model and idea. For the corporate traveller who often travels on their own and struggles to keep up their fitness, this is a great concept for them, as they get to meet people and also have a hit of tennis with someone at a similar skill level as them.
I have also seen another concept similar to this that was about surfing. The world is getting smaller with technology and these type of business are a great way to connect with people with similar interests.
Sam had great energy and was very very smiley.
Glen will make a great partner for Sam. Well done Sam and congrats.