Where to go...

Where to go...

Posted by EYHokie

I've lost some excitement since my initial meeting with Look Better Than You Feel.  I think it part because I was sold this idea that there was no other product like this on the market.  A little research and I find out that there are many versions of the same/similar design.  One of them even had a removable pocket so that you could put it on any garment.  This seems a lot more simple given that you just have to buy the pouch and you get to keep your existing clothes.  I have no idea how well the project functions but it seems to be just as good of an idea.  That being said, LBTYF is currently going after hospital relationships.  While Kim wants to take things big, it seems like her biggest market right now are the local hospitals here in Richmond.  That may be the niche that Kim needs to exploit.

From our initial conversation we learned that LBTYF is working with the New Richmond Ventures. Avery has a relationship with Bob Moony so he is trying to set-up a meeting to understand their vision.  The last thing we want to do is write a case study that is contradictory to the advise that Bob and his team is providing.

I reached out to Kim today to find out if we could meet with her husband.  I am curious what his thoughts are.  Kim is very passionate and I want to know where her husband is coming from.  What does he want?  How does he play into the finances of the company?  I have high hopes, though I hope not too high, of getting the business side and practical day to day version of the company.  I need more than the excited sales pitch that we were given in our first meeting.

Avery and I are at an initial passing.  Where to go?  We are not sure of the direction to head in.  Right now, there are 3 options on the table.  1. (most likely) pitch the question of should she or should she not move into and invest heavily in social media.  2. With so much on her plate, how does a dreamer focus their dreams and make them become a reality?  3. Go in a completely different direction and ask NRV is we can build a case around them.  How/Why invest local?

I took a quick look through HBR and didn't really see anything about suggesting a company not move into the social media space.  Does everyone need to?  Does LBTYF need to?  If relationships are currently being built with local hospitals, does social media get you anywhere?  Does the invest in time going to drive sales?

Initial Meeting

Initial Meeting

Posted by EYHokie

Avery and I met with Kim Newlen on April 26nd at Baker’s Crust.  I was very excited as this is one of my favorite places in Richmond.

Avery and I met outside and walked in together.  It didn’t take long at all to see Kim.  As advertised, she wore a big pick flower on her shirt.  We barely sat down and Kim gave us her pitch.  She showed us all of her clothes, the progression to the current style and some of her advertisement.  I felt like she was going a mile a minute and was trying to get us to invest, though I know she wasn’t.

One of the funniest moments was when she was showing off her shirts and turned around to a table behind her and told them she was a breast cancer survivor and she was sharing with us her clothing line.  Personally, I would have kept on going and not mentioned anything to the couple.

My first reaction is that she is trying to head in 10 different directions and doesn’t seem to have a plan.  I think her vision is to change hospital clothing into something fashionable and comfortable.  As a part of that she’s taking on too many different dreams and giving her product away to everyone.  We were both glad to hear that she has recently been introduced to a venture capitalist group here in Richmond.  She doesn’t seem to have much business sense so this should go a long way for her.  In my opinion, she just needs to hire a business manager to get things off the ground.  At the same time, its hard to say because I think she said she has been doing this for 9 years.  Here are some of the things that she has invested her time in:

-          Sweet Mondays – an organization for woman

-          Expanding Sweet Mondays internationally

-          Developing cloths for woman with breast cancer

-          Developing advertising material

-          Developing relationships with area hospitals

-          Writing a devotional book

-          Exploring the idea of creating a men’s line of clothing

-          Speaking engagements

-          Developing a web presence

-          General marking

I can see why she hasn’t gotten anywhere in 9 years.  Well, she has made a difference in woman’s lives but from a business/profitability stand point it would seem as though she hasn’t gotten anywhere.  She needs to focus on one thing and attack it.  Once she’s built that platform move onto another goal.