Sharon McRill: Serendipitous Investors

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Sharon McRill, President of the Betty Brigade, recounts how she discovered potential investors during a conversation with a new client. While she might have been hesitant to describe her business so vividly in its infancy, she now believes the risk of openness is more than repaid in refining her ideas and discovering opportunities.

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 A number of the entrepreneurs interviewed for our series on financing innovation have mentioned the value of networking to find equity investors in early stage start-ups. In this segment, Sharon McRill, President of The Betty Brigade, recounts in detail how a simple conversation with a new client led to several potential investors. Here are some key elements of that conversation:

  • Sharon described her business as a franchise opportunity with high potential for growth. She had come to this view after reading Michael Gerber's E-Myth series of books.
  • Sharon is essentially looking for a hands-off investor who will allow her to take her business to the next level. As her customer mentioned to her, that kind of investor is rare in Michigan.
  • When queried about why she would be so open about her business plans, Sharon noted that there were many ideas but only a few who could implement. The risk was well paid in refining the idea.

 

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2 Comments

Karen Kuula on November 12, 2008 2:54 AM
Before this video I had no idea about what the Betty Brigade was. Now that I do I am very amused, as this industry is something I just discussed with a friend last week when we analyzed our networking abilities. We joked about opening our own service. I had no idea that this was a popular concept here in Michigan. It seems as though this type of service is one too frequently overlooked. With the age of the Internet and search engines it is quite simple to connect yourself with a contact of your own needs. When approached that way it is a cold call and there is no relationship in the beginning. That is where this service seems wonderful. The concierge has made it their profession to create relationships that their clients will benefit from. The truth is that in life it is not what you know, but whom you know. This industry proves that. I was a little unsure about the idea of franchising this service. It is a very personal service business. Everyone has their own contacts and their own abilities. Not all people will be able to meet the abilities of Sharon. When they do not, but are under that franchise name, it may reflect negatively on the franchise as a whole, discounting their reputation. What type of training will be provided to the franchisees? Will there we a database of contacts that all franchises has access to? Something I liked was when Sharon mentioned that she was originally timid about discussing her idea with others. Later she realized that no two ideas would be the same. This is true because when I thought about this service last week, I would have never thought to stress the dog walking. This is a service that many people need and will pay excellent money for. Although I wouldn’t be confident to be shouting my own idea from a rooftop until I had built a strong, reputable name for my company that no competitor could mimic.
Cerynthia Edwards on November 17, 2008 1:49 PM
The Betty Brigade, to me is a very helpful business and I feel it has great potential. I could understand why Ms. McRill was hesitant to discuss her ideas with others because I am the same way. However, after viewing this interview, I now understand that it is acceptable and probably a good idea to discuss your ideas with otherd because you never know who you are talking to, who they know and what or whom they can put you in contact with. As stated by Sharon McRill " your great business idea is never going to be the same as someone else" . I believe this and I agree that the more people you tell the more doors that open for you. Great Advice!

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