Judges to whittle Spirit contestants to seven
By LAURIE WINSLOW World Staff Writer
After practicing his presentation anywhere from 40 to 50 times, Rick Butefish was feeling "very confident" but "a little tense" about giving his business pitch to a panel of judges.
On Thursday morning, all those days of practice and preparation were condensed into a five-minute presentation aimed to persuade the judges to advance his team's business idea to the final round of the Mayor's Entrepreneurial Spirit Award.
The competition, in its third year, features more than $100,000 in prize cash and services.
It started in April with more than 85 submissions. The field of contestants was narrowed in July from 25 to 12 semifinalists.
"The No. 1 focus right now is to see how they've improved from their last pitch and how well they've honed their business model to maximize its potential for success and monetization," said Sean Griffin, who is one of the judges as well as the chairman of the Spirit Award.
Contestants must articulate how they will provide value in the marketplace, how they will execute their plans and where their revenue will come from, Griffin said.
"We're also looking for a continued ability to coach them," he said. "So, we're looking for a coaching opportunity. We want to give them that extra push."
The nine judges were gathered in a boardroom of SpiritBank at 18th Street and Baltimore Avenue to begin the task of deciding who will be this year's seven finalists.
Butefish, the day's first presenter, stood before the panel and spoke succinctly about his team's business — filters4me.com — a subscription service that lets people order home air filters online.
The process is simple, he said, in that orders are based on filter size, quantity and frequency of use.
"They'll show up on your doorstep monthly, quarterly or semi-annually without you ever having to do anything ever again. Now, how much easier can that be?" he said before his presentation.
Judges had eight minutes to ask questions and make suggestions.
They encouraged Butefish to think about his plan in the long term and to emphasize in his marketing how the business is eco-friendly.
"I would like to see you do the pitch without your notes, if possible," Griffin said.
Next up was April Brooks, who spoke about a family business — 4BrooksDesign — that makes hand-crafted, glass fiber-reinforced concrete creations.
Using an overhead projector and screen, she displayed photos of lamps, tables and other concrete creations.
"We've been extremely busy over the past two months," Brooks said. "Things you see in these photos are all things we've produced since the last time we saw you."
Brooks, who oversees the business with the help of two sisters and her father, came up with the idea while working at the library and reading a book about concrete.
"It just stuck in my brain, and I started doing research," she said.
Brooks attended the World of Concrete trade show in Las Vegas and then participated in a workshop.
She is still learning about the business and working on it full time, she said.
Following her presentation, judges requested additional information, including more clarity about the business model, pricing structure and how she would generate revenue.
Brooks, who entered the competition on a whim, said she had learned a lot from it, including the importance of working on a business plan.
"I knew I needed to do that, but I just kept putting it off and putting it off," she said.
"And it's a big process for someone who's not coming from any sort of business background. That's just a whole other field to learn."
Mayor’s Entrepreneurial Spirit Award
Next phase: Field of 12 semifinalists narrows to seven.
Final round of competition: Nov. 5.
Awards ceremony: Nov. 17 at the tCC Center for Creativity
Prizes: First place winner gets $30,000, second place $5,000 and third place $2,500 from Spirit- Bank.
More information: tulsaworld.com/spiritaward
Source: Tulsa World