In some ways Episode Nine was all about family. I think many people would have robust discussions based on their personal experience with the problems that each of our entrepreneurs presented to the Sharks. I remember as a young mum literally juggling two small children at bath time – Problem solved CharliChair. I put it to a bunch young people in my life (ie my kids and their friends who are at uni) what they thought of the idea of trading uni notes on line. I believe in collaborative consumption – but as Josh told me – “You’ve got to know the person who wrote the notes – it’s about trust, besides you usually thank them with a carton of beer that you then get to throw back together.” Perhaps he lamented there are something that people need to do in person. And at the core of family life is meal time – our Dinner Ladies support busy families by delivering nutritious meals… wonderful.
Here are my notes from on set.
Charlichair – where was this product when I was trying to bath a new born and a toddler at the same time. This is a ‘high chair’ type device built for water – with patents and safety approvals. Manufactured under license. Also fantastic for kids with Cerebral Palsy. Loved the product – I was unclear on the current manufacturing deal. Moray invented Charlichair and is the sole director, yet her husband did all the talking. The pitch was really great, inventive and I think this will be another great Aussie Innovation that get’s exported around the world.
Nexus notes – A two sided market place for tertiary students wanting to sell notes – and students wanting to buy them. The website looked good. But I instantly wondered how they could verify the quality and accuracy of the university course notes – and how they stay current as curriculum’s change so regularly. They came offering 7.5% equity for $300k – putting the business at a $4mill valuation. Yet they had just accepted a start up accelerator investment that was yet to vest at a $600k valuation… This meant that most of the conversation was dominated by the valuation rather than the customer experience
The Dinner Ladies – Two energetic women who run a successful, wholesome dinner delivery service. With three vans on the road and a commercial kitchen in place they were thinking they wanted to extend into the event space. We seen this before – a successful businesses wanting to diversify. Split focus is thwart with danger for founders– even though they have a team of 12 employees. Who would be working for which business? A long and exciting pitch with many roller coasters.
Fantastic episode with plenty of lessons and laughs.
Shark Tank S1 Episode Nine on TEN
