Side Hustlers (2024) s01e05 Episode Script

The Final Pitch

1
■ Everybody's heads turn when
you walk in the room ■
■ Electrifying eyes burn ■
■ Making hearts go boom, boom,
boom. ■
- What's up, queen of
everything?
- Hi.
- How are you? - I'm so happy to
see you.
- [laughs] You, too. - BOTH:
Mwah.
Mwah. - There you go.
- [laughing] - We're in the two.
We're in the two zone. I love
it.
Can you believe we're only a
week away from these final
pitches now?
- No. I'm nervous for the final
pitches.
- You are? - I'm nervous for
them.
We've been spending so much time
with our hustlers,
and now this is the
make-or-break moment.
- Yeah. At the end of the day,
we're gonna stand there, and you
got to choose your choice.
- Mm-hmm. - And they got to
shoot their shot.
- We love these people that have
pitched to us.
We love these products.
We have done our due diligence,
and now it's time to fly.
- [laughs] - But can they?
- But can they? - [laughs]
Mama bird can only feed you for
so much longer, honey.
- Ooh-hoo. Yeah. We done.
- [both laugh]
[lively music playing]
so having someone else in the
house has been really helpful.
So I'm super grateful for the
Ally emergency fund
because we were able to get
Milene a ticket
- It's the birthday girl.
VALENTINA: I've been
trick-or-treating seven times.
- Yeah, and now it's my first
time.
- Look at this. - It's exciting
I'm doing with you.
That's exciting, and I'm happy
to help.
- Yeah. [chuckles]
- ■ Woo-hoo, can make you a
believer ■
■ Time to testify I'm making you
my. ■
- Hey. - [laughs]
- I'm back from Vegas. We had
the marketing event,
so now it's time for the final
push.
First things first, the
marketing event.
- Of course, Emma walks in.
- That's the big part. That's
the big news.
- And I think there was a couple
developments
through Emma's and I's
conversation.
One, I didn't realize she didn't
know that we were in mediation.
- Like, that was a year ago.
- I can just feel she wants to
make sure that we're aligned.
- Okay. - Like, that's her
thing.
She doesn't want a decision like
this to break
or cause any other situations to
occur. - Mm-hmm.
- At the pitch, Emma is gonna
ask,
"And I heard that you guys went
to mediation.
I heard about this. So what does
that mean now?"
Our answer, I think, to that
question
is gonna determine whether or
not Emma says,
"I can invest with them
confidently."
I don't even think we're selling
AMP as much right now
as we're selling ourselves. -
Absolutely.
SHANNON: Okay.
- Let's just go through. We can
do
some direct measurements. -
Yeah.
My last interaction with Ashley
wasn't super positive,
for her to really see Bonks as a
viable investment.
I'm working on a new silhouette.
I launched with a thong,
and now I'm gonna be unveiling
Hello. ALI: Oh, awesome. Hello.
SHANNON: Hello.
[wolf whistle] - Look at you.
- Looking nice. - [laughs]
I understand Ashley's point of
wanting to see multiple SKUs.
I can't be making that risk and
importing all those sizes.
only rolling out two different
combined sizes.
- Hello. How are you?
You just got back from Sweden?
- I have a talent agency, and
that agency has been really
successful,
It's just been hard to do that
and then also try to do
to take it to the next level.
So, for me, it's a no-brainer.
I know where my time is going
and where my time needs to go.
-
- Oh, my gosh.
Just feels like every single day
there's really something new.
And we started growing super
quickly and now, you know, we
have this mentor,
and she has us doing a lot of
task.
In a few days, we're actually
gonna do a big pitch to some
investors.
And the thing is
that I am gonna do Rif
full-time.
- I don't know. I feel like
that's really
It's been really hard to say
that to you.
- Okay, I'll talk to
you later. Bye.
But when I tell the investors
that I finally had the
conversation with my co-founder,
they're gonna know how real this
is for me
[intriguing music playing]
- Here it goes, girl. - Here
goes nothing.
- You're gonna have a great
meeting. - Thank you.
- I have absolutely no doubt.
I'm definitely interested in
investing in Kristyn's company,
but I also know it's gonna take
a lot more money to get it up
and running.
- Hi, how are you? - Hello.
- [overlapping chatter]
- It's so good to see you.
- Hi. Kristyn. - Hi. Jesse.
Hi. Nice to meet you. - So nice
to meet you.
- So glad to get you two
together.
Let's take a seat. - Yes.
- So, today, I'm introducing
Kristyn to a VC
with super high growth
potential.
So, fingers crossed, that
Kristyn can make a positive
impression
- So, I have a prototype here
with us.
- Oh, my gosh. Can you put it
together?
- Um, yeah, absolutely.
- Okay. I want to see how fast.
Should we time her?
EMMA: T-Time her. Get your timer
out. - Let's time her.
Okay. Ready? - All right. Ready.
EMMA: Done. Turn your timer off.
- Oh, my God, that was two -
[laughter]
- That was two seconds.
I was not expecting that.
That was amazing.
EMMA: No pieces needed. KRISTYN:
Exactly.
JESSE: Well, let's-let's talk
about numbers then.
KRISTYN: Yeah. JESSE: Like, how
much does it cost to make one?
- So, right now, we have
projected unit costs, um, up to
7,500 units,
and that cost is $76 per unit.
- I know this space very well.
Dog is a massive industry.
- Mm-hmm. JESSE: It's growing
incredibly fast.
When you think ten, 20 years
down the road
because that's how I have to
think
what does this look like for
you?
KRISTYN: I've sat in rooms with
the biggest
valued pet companies in the
market,
and they're interested in
already purchasing this.
And I think that, in the next
five years,
there's a pivotal moment to
either be acquired
or go on our own and build out
our own tech stream.
But I do see an acquisition
occurring.
- Do you have, you know, a
number in mind of how big that
would be?
- I foresee this being a $500
million business.
- Well, you have a lot going for
you.
- Thank you. JESSE: You have a
unique product.
KRISTYN: Yeah. - You have a big
plan,
lot of opportunity. I'd love to
see your financials.
I'd love to see your five-year
projections.
And let's keep talking. This is
great. KRISTYN: Awesome.
Thank you. I really appreciate
that.
[lively music playing]
- Today, I'm meeting with Nic so
that we can go over
I feel our business is ready for
it,
because we really need this
investment. We really need this.
- Here you go.
- Thank you. - You're welcome.
- Hey, where
are you at?
- You're barely leaving right
now?
Well, how far are you?
- You were supposed to leave
over an hour ago.
- Okay, Nic.
You were supposed to leave over
an hour ago.
- Okay, Nic.
[dramatic music playing]
So, now, it's left up to me to
figure it out. Like always.
You know, it feels like the
first pitch all over again,
[energetic music playing]
These final pitches will show
Ashley and myself
but you are the one that has to
put it
a mutual beneficial partnership.
KRISTYN: Profit margin
breakdowns. Year one,
we're looking at a 62% margin.
Year two, we're looking at a 65
in hardware.
- Presentation looks good here,
though.
ASHLEY: Mm-hmm. EMMA: Right?
ASHLEY: Mm-hmm. So good.
- Let's do this.
KRISTYN: I see we're all in
blue.
EMMA: Oh, there you go. You got
the memo. ASHLEY: Yes.
- [laughs] - Ugh. I know.
KRISTYN: Yeah, that's just, you
know, some info.
So, really amazing to see you
both again.
And, at Crate Away, we are
building the foundation
for a fuller life for you and
your pet.
And I started in this process as
the only company
that didn't have a product on
the market.
Now, some people might look at
that as a disadvantage.
I look at that as an
opportunity,
and I think you both do as well.
I know what you have been
telling me,
and I've been taking notes, and
I have been really
forging forward with trying to
find a path to make this
the best for the market.
ASHLEY: What's the marketplace
look like?
Are there other competitors? And
is yours still superior?
- Way superior.
The other crates do not collapse
the way that mine collapses.
The other crates don't have the
safety technology
that we have with our crate.
So, there is no - So,
basically,
I shouldn't get a dog until I
can buy one of these?
- Yes. [laughs] ASHLEY:
Understood.
- Exactly.
- What's your social presence
like?
- We have 500 followers right
now.
And, I mean, Emma has seen my
strong suits
and my not-so-strong suits, and
I'm very good at the business
aspects
the numbers, the projections,
all of that.
The branding is where I struggle
with the creativity of that,
so I need to bring in someone.
- I wouldn't put yourself down
to say you're not good at
creative.
You-you have less strength
there,
and you're really strong in so
many areas.
Like, that is what has really
impressed me.
But what we've got right now is
just an idea.
You are the only person here
that doesn't have a product
that is out there selling.
Then, if and when you get
that big order,
you're gonna need to make
thousands
because nobody's coming to buy
ten of these,
nor does it work in your
assumptions.
- Right. - So, I just wonder how
you're thinking
about that right now.
Like, what does it look like for
you from today
to take this to the point where
you're making
that first delivery to some type
of retailer?
- To get this to the market,
it's going to take a lot of
uplift,
it's going to take capital, and
I will do whatever it takes.
I think that, you know, when
you're investing in a business
at this level,
it's not the business, you're
investing in the founder.
And if you believe in that
founder
and if you believe in their hard
work ethic,
if you believe in their vision
and what they see
and how they are servicing a
huge hole in the market,
and that's what Crate Away is.
[suspenseful music playing]
- I think there's one thing when
you can turn
your passion into some kind of
business,
but what I love is that you have
taken a problem,
like, a real problem that exists
in the marketplace
and you have turned it into a
business opportunity,
and it's just better than
anything else out there.
And guess what. You made it.
You made that product all by
yourself.
And I am really, honestly so
willing to take a bet on you. I
just am.
- [laughs softly] - So what I'd
like to offer to you today
is $100,000.
And I will give you that money
on the basis that,
as we start going out to VCs and
figuring out
how we're actually gonna fund
this business on the go forward,
you can value my investment
at whatever that first
participation check looks like.
- Hmm. KRISTYN: Got it.
EMMA: How's that sound? - I
think that sounds great.
- Then that's exactly what we're
gonna do.
- Wow, that's awesome. - Do we
have a deal?
- We have a deal. - [whoops]
- [laughter]
EMMA: I feel so happy,
and I want to let you know that
I really believe in you.
You're someone I'll put a bet on
any day of the week.
- You're amazing.
- Crate Away. - Thank you. Yes.
All right.
Thank you both so much. - I love
it. You're so welcome.
so until Kristyn's seed round
happens,
where the initial fundraising
will take place,
in her company actually
represents.
- Job well done. - Thank you.
- [chuckles] - I love her.
[upbeat music playing]
MATT: All right, you seem happy.
- [chuckles]
How'd it go? KRISTYN: It went
well.
I can just, like, breathe a sigh
of relief.
Oh, I'm so tired. [laughs]
who sees your potential,
[optimistic music playing]
- ■ We've been through too much

■ To give up on it now. ■
- And Montré. - From AMP Beauty
LA.
And today is our big pitch
with Emma and Ashley.
So when you see this video, when
we share this,
this is the moment that -
It's the moment. This is it.
- that changes everything. -
Yes.
And this process has really
helped us refocus
and find that fire again for why
we're doing this.
- We got this.
- I'm good. No, I really feel
good. - Okay.
- No, I really feel good do
you really feel good?
- No, I do. I do.
But stop asking me, 'cause I'm
gonna get nervous. - Okay
I'm not gonna look you in your
eyes, either.
I'm not gonna look you in your
eyes. Okay.
- Going into this pitch, we are
bringing our A game.
and really just execute and put
our best foot forward.
- Oh, my gosh.
["My Lifeline" by Lee Richardson
playing]
■ I feel the rush ■
■ I'm coming alive ■
ANGEL: Oh, my gosh. MONTR■: Oh,
my gosh.
- Oh, hi. - [laughter]
ANGEL: Hello.
EMMA: There they are. Look at
you two.
- So, we are ready to tell you
about AMP
and also our journey on this
amazing experience.
So, as you know,
access to inclusive shoppers and
diverse shoppers is broken.
Black women in particular spend
nine times more
on beauty and personal care than
any other demographic
but remain underserved.
We really want to be the
destination for all textures,
all genders and all shades.
MONTR■: And through this journey
with Emma
and beyond the grief
of, you know, our losing our
sorority sister and business
partner,
we came to the stark realization
that our business model was
scattered.
So we sat down, brought it back,
reeled it in,
and realized that we need to
double down on e-commerce.
- So, with your help, we
identified some growth levers.
We added some, we took some
away.
So the first is our newsletters,
which we've employed an agency
to help us set up our strategy
and our framework.
So that'll help us generate
money and revenue
without having to be in it every
single day.
- And do you have information
from all of your previous
clients and customers
that you're gonna be able
- Yes. Yes. - Okay, so you kept
all that.
- Yes. - We can capture all of
that.
And also, we thought we only had
access to about 10,000,
but we really have access to
about 13,000 customers and
subscribers.
- And our second revenue driver,
or growth lever,
would be our website
optimization.
We realized we needed to fix our
customer journey
and our user experience.
So that is gonna help to
increase our conversions
on our website.
- So these initiatives are gonna
help us
reach our goal of $100K at the
end of the year.
- And then, year two, we're
projected to do $842,000,
which, you know, is where we
double down and really start
optimizing our growth.
EMMA: We know how devastating
it was for you two and your
relationship
when your third business partner
sadly passed away.
BOTH: Yeah. - Felicia.
[somber music playing]
And one of the things that I
really wanted you guys
to talk to each other about
and to begin to work through was
working with her estate.
And I just wonder if, in the
weeks that we've known each
other,
you've been able to have any
conversations
to just move that issue,
that elephant in the room -
Yeah.
- like, how do you get past
that and move forward?
- Yeah, so we met with an
estate-planning attorney
who really walked us through the
process.
She's reviewing our shareholder
agreements and our operating
agreements
to see what protections we had
in place prior to.
ASHLEY: And once you guys
have figured out the other
portion, I highly suggest doing
a really good locked-in contract
between the two of you.
You should have your business
relationship
and you should have your
friendship relationship,
because that's how you're gonna
be able to save it at the end of
the day.
ANGEL: Felicia, she was more
of the, I think, neutral party
and the person that was, like,
the glue and the person who
initiated mediation.
[suspenseful music playing]
- I think finding the balance in
these relationships is really
difficult.
No business partnership is
without its complications.
What has shook me in this
situation
is the thought that outside
intervention
would be needed for you guys to
resolve conflicts.
And that really did worry me.
You know, success doesn't lessen
the complexity of things, right?
Actually makes it way more
complex.
And if you guys could fight
about a business
that hadn't yet reached 100
grand
- Mm-hmm. - God help us when
you're making millions.
And so, I do think that that's
something
that we have to think about
really, really carefully,
and it's been a key
consideration of mine.
So here's what I'm offering you:
it ain't money today.
And that's the truth, because I
don't think that is where you're
at.
But I would love to continue
mentoring you,
'cause I believe in you two as
tastemakers
that really understand the
business that you're in.
And you will get my attention on
your business where you need it,
because you're right there.
You've just got a few things
that really need to be figured
out.
- I would rather walk away with
you on our team,
you know, rooting for us,
guiding us, than you giving some
arbitrary check,
and we never hear from you
again. - 100%.
- So I really appreciate it. -
I'm really
like, even the way that you
react to that makes me so happy,
because I know the value that I
can bring to you guys.
And I honestly think, in used
in the right way,
we'll be great partners
together.
And then, you've, you know, you
got my number,
so you can hit me up for money
down the line.
- [laughs] We will. - I love
that.
- Oh, we we're coming back.
We're coming back to you - I
know you will, Angel.
I know you will. - [laughter]
- I'm really excited for you
guys.
- Yes. Thank you for your time.
- Thank y'all so much.
- Bye. - See you later.
- Bye. EMMA: See you later.
ASHLEY: That was so nice. - It's
nice.
- Yes, but also, like, they're
just awesome.
- Bless them. I hope they're not
too disappointed.
ANGEL: We've been here for three
years, through the mediation,
with losing Felicia,
like, we're still here, and I
think that's important.
- ■ I'll be there for you ■
■ Always. ■
[upbeat music playing]
■ Mm ■
■ Yeah, yeah ■
- ■ Ooh ■ - ■ Oh, yeah. ■
I really gave her some tough
love.
But I am super hopeful
So I'm excited to hear her pitch
and what her plan is
- Ladies, it is an absolute
pleasure
and a privilege to stand in
front of you today.
Thrilled to explain why Bonks is
poised
for investment as a brand and
with me as its leader.
Ashley, you've really pushed me
on the product itself,
growing the assortment to
enhance
how it fits our customers and
how it feels.
I met with my factory.
I got the nude colorway
and the brief in two different
sizes churned out.
In terms of getting rid of
excess inventory,
I've met with two new
distributors
that I hope to engage with by
year's end,
who would hopefully be taking
large quantities.
- Did you end up lowering the
price point officially?
- Not yet. - Okay.
- But I have run costing on
that.
The margin is only gonna change
by about two to three percent,
because my duty rates are so
much better with my new
production.
- Okay. - And then obviously,
with economies of scale, the
more I sell, then the margin
will only get better.
Right now,
you see Bonks as one silhouette,
four colors, one size.
But they're I don't have the
ability to scale if I end right
here.
Within the next year, I will be
doubling my SKU count.
And that's really important,
because that's why you're gonna
see
such a huge revenue growth in my
projections.
So I'll be adding another size
of the thong,
I'll be adding a nude colorway,
and I'll be adding a brief
in two different combined size
ranges and two colors.
So, utilizing Ashley's advice of
honing in on neutrals
and adding a size - You're
only adding one size?
- For right now.
For the current projections. -
Okay.
- And it'll be XL, uh, double
XL? - Yes.
- Okay. - I'm valuing my company
at $1.5 million,
and that is based on 3.7 times
my projected next-year revenue.
[dramatic music plays]
at $1.5 million,
and that is based on 3.7 times
my projected next year revenue.
It's a lot compared to where I
sit today.
- Where are you getting the 3.7
from?
- From some VC friends.
They told me that the
appropriate way to calculate,
three to four times my projected
next-year revenue.
[contemplative music playing]
Happy to go into this more,
or we can open up Q&A.
ASHLEY: Okay. ALI: Lot to
digest.
ASHLEY: Yes, this is. Wow, wow,
wow.
You know, when you first
pitched,
I was like, this is so needed in
my life.
And then we got down into the
nitty-gritty
of the actual product.
There's too many SKUs.
Uh, the quality wasn't exactly
what I thought.
The sizing wasn't my size.
This is brilliant that you're
listening,
and I'm really I'm thankful
for that.
You're not going as fast as I
would like,
but you're also doing this alone
and I recognize that.
My problem is, I'm just looking
at your deck
and I'm looking at your
projections, and, honestly,
the numbers aren't adding up,
and I really don't know if Bonks
is
scalable based off of these
projections.
I really don't.
I feel like you have a great
idea,
but a fully-fledged business I
don't see it quite yet.
So I am gonna be your biggest
cheerleader,
but I'm not gonna be able to
invest in you today.
- Ali, if I could give you any
advice, it would be:
you've got to make sure that
when you put information
into a presentation, that it's
100% correct
and can be validated. - Okay.
- And what I would want to see
is a more realistic valuation
for where you are in the
business.
And I am absolutely
someone who likes to look in the
future
and go, "Do you know what? We're
going to be here."
But you've got to have
some kind of basis for that. -
Yeah.
- Those VC friends that gave you
those valuations,
they ain't your friends or they
ain't very good VCs,
because for you to come in here
without valuation,
it's bananas in pajamas.
ALI: Thank you so much.
This journey has just been so
positive
and I've really enjoyed getting
to know you.
- Same. - And you both are
incredible women leaders and
mothers, and you know,
we can do it all, right? - Yes,
we can.
- Thank you so much.
All my best.
the investment be anything to
discourage me
or keep me from going forward.
Now it's really up to me to
and take what I've built in
these past few weeks
as a side hustler and take it to
the next level.
[optimistic music plays]
■ We gon' bring the rain ■
■ Here comes the thunder ■
■ Here comes the thunder, oh. ■
- How you feeling about the
labeling and everything?
- I like the new labeling. -
Yeah?
- I have Nic here with me.
we were able to get together, we
were able to,
- You know, Emma's gonna be
excited to see what you got in
that box.
She might think it's chicken or
something.
- [both laughing] - Yeah, that's
what I bring every time.
No chicken today.
Here goes nothing.
- [stammers] Here's the big
moment.
You need to go out there and
represent for Ma Duke's.
just believe in myself and just
know that I'm worth
and, you know, I get some type
of investment.
I'm back.
- [laughs] - There she is.
- And I brought a surprise for
you guys.
- Oh, you did? LESHEKA: Yeah.
I have to show you, you know,
what we've done so far.
- Okay.
I can't wait. [gasps]
- Voil■. - Oh, my gosh.
- So, it's the official
rebranding of it,
of the sauce itself.
EMMA: It looks good.
It looks good. ASHLEY: This is
amazing.
- We took what you said into
consideration because
that's why we needed your
mentorship.
You see things different than we
saw.
We saw this label, and that's
what stuck out to us.
You know, but in so many words,
it was basic.
[chuckles] So we're trying not
to be basic.
[mid-tempo dance music playing]
We revamped the sauce itself,
so it probably tastes a little
different
- It does taste different. I put
it on my tongue.
- It's better. ASHLEY: It's kind
of
It's less watery.
- Yeah. Fresher. ASHLEY: And it
has,
it has more of the sweet and the
tang at the same time.
- We went back to the kitchen,
we figured it out,
and we finally launched it on
the truck.
We purchased 156 bottles.
We sold over 100 of them,
plus some. EMMA: Amazing.
- And we've been out, what, for
a week now?
So we just went out there and we
sold it.
And people are loving it.
You know, we're on the-the road
just selling it in our truck
to make, um, $27,000 by the
year's end with a takeaway of
$17,000 of that.
- So let's talk about this,
right? - Yeah.
- Because we've really got to
think about this
as a business case.
You're standing here because you
want something.
Lesheka, when you think about
this business
- Mm-hmm.
- from today, where do you go
from here?
- Our long-term goal is, you
know, getting it put in,
you know, the big stores.
I've been at my job for the last
13 years,
and I officially went part-time.
- Wow. - Because I want to focus
full-time on getting the sauce
out there
and really, you know, making my
dreams come true.
I was scared, but I'm, like, you
know,
if you guys are willing to
believe in me,
I need to believe in myself.
When I first came into this, I
didn't believe
I can do anything, so I've
stayed at this job.
And, you know,
if I was to be gone tomorrow,
I want to leave something to my
kids.
Working the job that I have, if
I was to be gone,
my kids would be left with
nothing.
So that's played a part in me
going part-time at my job and
really just putting
my all into this, because I want
this to be
something that lasts forever.
I want my grandkids to walk in a
store
and be able to purchase this.
- I love your drive and I love
your ambition.
This is awesome. - Isn't it?
- Wow. I literally feel like I'm
meeting a new Lesheka.
Like, this is a new person.
- You are, because this is a
person that,
you know, when I met you,
you had a chicken truck.
Let's just not get this twisted
for a second. - Right. It was a
truck.
- You were standing here with
this display,
with this bottle of sauce, and
just a dream.
Between then and now,
not only have you bottled the
sauce,
but the journey to get there is
unbelievable.
You didn't even own this
business when I met you. - No.
- You went out, she contracted a
lawyer.
You came back after I asked you
to go and get that business in
writing and make it 50/50.
She came back with 51% of the
business. - Yep.
- You will remember, we were not
called Ma Duke's.
- No. It's a new name. - In the
beginning.
That could have just sent you
through
an absolute spiral.
But not only did you change the
name,
you changed it to a much, much,
much better name for retail.
You went and perfected the
recipe
'cause let's just remember, when
you're on the truck
- We're making in small batches.
EMMA: you're not making this
in bulk quantities.
You were making small batches.
To say that you are someone
that can meet a challenge
head-on and conquer it.
And not only just that,
but you can conquer all the
fears, all the self-doubt,
everything that we think about
when we say impostor syndrome,
'cause you didn't think
that you could do this, and you
did it
over and over and over again.
Like, I am so proud of you.
It's stupid. Like, literally, I
could cry.
Like, beyond. - No, this is
epic.
I love this story.
EMMA: Because it's the truth,
right?
And, you know, I am not someone
who's going to blow smoke.
- Right.
- I have, from the beginning,
loved working with you.
But I want to be honest.
You know I'm gonna keep it 100
with you, right?
The way I look at this business
today,
Lesheka, is that
the fact remains that this is
not actually
an investable opportunity.

[intriguing music plays]
- When I look at this business,
you are right at the beginning.
You haven't started talking to
grocers yet.
You're gonna have to eventually
align with a distributor.
You're definitely gonna have to
look at scalable production.
So, how do you go from where you
are now,
where you're bottling hundreds
of units
to thousands of units
eventually?
There's definitely a lot that
sits in front of you.
What I really want to do today
is offer you something
that I think is just really
realistic.
Here's what I want to do.
I really want to take a bet on
you.
I'm gonna give you $35,000
and you should think of it like
a business loan.
I think at the end of the day,
what you need is just
some breathing space so you can
get Ma Duke's really tracking.
And what I'd love to do is
stay working with you because I
know that you and I work
really, really well together.
And I just know
that you are going to do what
you came to do.
You're gonna change your life.
You're gonna change your life
for your kids.
- There's no going back.
I could never go back to what
I was going through
or living the way that I was
living.
I'm sorry, but
You know, I have a big passion
for this.
You know, there's I just
cannot fail,
and I won't give up on myself.
And I'm gonna make it happen for
my kids any by any means.
- I've no doubt.
- So I thank you for believing
in me
and helping me, because I need
that.
- So if you want to do a deal
with me
- Most definitely. - I'll
offer you that now
and you can [clicks tongue]
take the money,
and go and get back on it.
- All right, that's It's a
deal.
We got a shake on that.
Or can we hug on it?
- We'll hug. - [laughs]
Aw. Congratulations.
- I'm so happy. - Thank you.
- Well done, my darling. You
deserve it.
You really deserve it. - Aw.
■ Spin me one more time. ■
- Now that I've given Lesheka
the $35,000,
- This tastes so much better. -
It's 500 times better.
all she needs is the
reassurance, to be pointed in
the right direction.
- What happened?

LESHEKA: She's gonna work with
us.
- [chuckles] - I was crying.
They're gonna give us $35,000.
- Oh, snaps.
- [laughs] That's what I said.
- That's great news.
- Yeah. - You ready to take off?
- Oh, we got to ain't no
playing now.
I feel like I'm on top of the
world, and I've made it.
You know, I made it as far as,
you know, other people seeing
me,
and that makes me feel amazing.
We celebrating tonight.
- Yeah, let's go.
[upbeat music plays]
VAL: A few weeks ago, when we
came in,
we were looking for someone to
believe in us.
- We've been doing this for a
little over a year, and
Uh
- [laughs]
- This is actually good
practice. - It's okay.
-
[laughs softly]
Hi, girls.
- There they are. REBECCA: I
love it,
you guys match our display.
VAL: I love it. - [chuckles]
- As you know, a few weeks ago,
we came to pitch you two,
and really, we were looking for
two things.
Someone to believe in us and,
also, someone to take us to the
next level.
- And we've been doing this for
a little over a year,
and feeling overwhelmed but
optimistic about the future of
Rif Care.
And one thing has become
extremely clear, that something
has to give
in order to make this our main
focus.
- By the end of this year, we're
gonna do about $300,000 in
business,
and we'll also be in 150 stores.
Next year, with the launch of
our tampons and period underwear
into the retailers and also,
adding 350 more retailers
to bring us to 150 stores we
think we can do $1.6 million in
sales.
- Where are you getting the
numbers? - So, on average, per
store,
we make $228.87.
And we imagine that if we keep
doing that in every single
store,
plus, we launch our new SKUs
which sell a little bit slower
than the pads that adds plus
25%
- Mm-hmm. - onto all of those
purchases.
- And we truly envision Rif Care
becoming a recognizable brand on
thousands of retail shelves,
helping millions of women all
across the world.
- Rebecca's actually been logged
onto the social media,
and posting and making videos
for us,
which was something I was trying
to get her to do
for such a long time, and then
Ashley comes in,
and just immediately is like,
"Look" - "Hello."
- "if we want to do this,
Rebecca's gonna have
to get on camera." REBECCA: I
was comfortable
in that space, but it's like,
no, you have to be uncomfortable
and put yourself out there.
ASHLEY: First of all, kudos to
that,
because that takes a lot.
I am so proud of how far you've
come.
VAL: We've made some big changes
over the past few weeks.
So I actually had a call with my
business partner
in the agency last week, and I
let her know
that I was gonna be stepping
away from the agency so that
I could do Rif Care full-time,
because - Ooh.
- I'm confident that we're
gonna get investment.
- You did? - Yeah.
- That is huge. That is huge,
Val.
- Yeah. - I have never been so
happy
for someone quitting their job.
- We've done what we needed to
do in that industry,
and we made a lot of change, and
it's time for us to move on.
- You're doing it. You're
actually doing it. - Oh, that's
big.
- You're gonna turn your side
hustle into your main hustle.
VAL: We're ready to make Rif
Care - Wow.
- our main hustle, and what
we want to know
is if you want to be on this
journey with us.
[suspenseful music plays]
- Good question.
I'm so glad that I've been in
this space for a long time,
and that I understand it, and I
think that you both understand
it.
I think that there is more
knowledge in both of your heads
than you've actually released to
the world.
And that's why I keep pushing
you to put more on social media,
to explain more to your
customers, to have more of the
education around it.
And I think that you're
listening.
And I do feel that there is a
lot of growth
that can happen at Rif Care.

I would like to invest $100,000
for ten percent equity within
your business.
You're not just gonna get money
from me.
What comes with me is a seal of
approval.
VAL: We really appreciate that
offer,
but I think we're gonna need a
minute
just to discuss between us about
it. - Yeah.
Good. Yeah. - All right. We'll
be back very soon.

- They need a minute. Okay.
- I'm surprised.
we can't give her that much
equity
without it making sense for
everyone who's in our business,
everyone who owns a piece of our
business, it has to make sense
for them.
- Yeah, I was worried about
that,
'cause, like, you kind of take
care of the cap tables.
- Yeah. - Can we just take 50K
and then, like, go down?
Do you know what I mean?
- I mean, it's like, sure, we
can take 50k,
but that's not solving any of
the problems.
And if she's gonna be coming in
and endorsing us as a celebrity,
that is worth a lot of equity
- Yeah. - but we still can't
sell
that much of our business.
- Right. Is it like, all or
nothing?
- It's basically all or nothing.
If she can't meet that, then
we're just
I don't really know what we're
gonna do, honestly.
- Yeah.
-
We just have to be firm about
what we need,
and know that we could walk away
with nothing.
-Yeah.
[upbeat music plays]
- Yeah.

- So, we've had some time to
discuss,
and
we have an entire round of-of
funding to raise,
and we were hoping to sell 20%
of our business at $1 million
between a multitude of angel
investors and VC investors.
And we obviously know that what
you bring to the table is more.
So you wouldn't be coming in at
that valuation.
We understand that, and we're
willing to do that,
but the most that we could do
is $250,000 at ten percent
which is coming in at a
previous convertible note that
we've had.
And since then, our valuation
has changed,
according to one of the people
who's invested.
[dramatic music plays]
- What has your valuation
changed to?
- To $7 million.

EMMA: I am gonna just, like, uh,
decouple myself from this a
little bit
- Okay. - because I feel
like, you know,
it's like, I want to actually
counsel you guys right now.
I know a thing or two about
investing
alongside talent, working with
talent,
sitting side-by-side talent in a
company.
Because, ladies, with Ashley on
your cap table,
you could credibly say
that you have a $7 million
valuation.
Right now, I find that really
hard to justify.
- And we understand that. I
think the major thing, too,
is that if we raise that much
and give that much away from our
business,
we can't really fundraise more,
'cause that'll put us in a
really bad position.
So we'll be in a worse position
than when we started.
- I don't want that for you. I
don't, at all.
Okay.
Even though you're more than a
start-up,
you guys have-have a track
record that's been proven.
It's still there's a lot of
risk.
[suspenseful music plays]
I

would never do this
but because I have a lot of
faith in you guys
this will be my final
offer
but I'll go in $100,000
for five percent.
Because I really believe in you.
So, do we have a deal?
- We have a deal.
- Whoo! EMMA: Yeah!
[laughs]
- Come here, girls. I'm so
excited!
- So good.
-
to invest in Rif Care because I
believe in the products,
I believe in the founders, and
it feels like a win-win for me.
REBECCA: I can't tell what to do
with my emotions. [laughs]
- [laughs] We did it.
[laughs]
[upbeat music plays]
I'm, like, shocked, excited,
happy, like just - Yeah.
- This is exactly what we
wanted - Yeah.
- from the beginning, and
it's like
I can't believe she's part of
our company right now.
- I know. - [laughs] Like
Like, this is gonna be so-so
life-changing.

- This is what I'm talking
about. ASHLEY: Love it.
I'm really glad that we got to
get that done.
- Me, too. - Yeah.
[laughs]
REBECCA: You're at my house?
- Because we women, we are
amazing.
We have grit, we have tenacity.
We have fight in us to make the
world a better place.
I love your drive,
and I love your ambition. This
is awesome.
from what they believe in.
- This is what I'm talking
about.
[laughs]
This whole process has been so
rewarding.
Watching these women come
through, they've literally
transformed.
She's like a real genius
American inventor.
- [laughs] -
And I just can't wait to see
what they do in the future.
- [laughs]
[upbeat music plays]
■ She's a force of nature ■
■ To be reckoned with ■
■ Got the kind of charm some
would call a gift ■
■ Watch her rise above, no, she
won't ever quit ■
■ Yeah, hey ■
■ She's dancing through the
storm ■
■ She ain't afraid of a little
bit of rain ■
■ Yeah, she's about to transform

■ Ain't nobody gonna put out her
flame ■
■ Whoo-hoo-hoo ■
■ When she's in the wild, she's
a lion ■
■ You gonna hear her roar ■
■ Whoa-oh, whoa-oh ■
■ She'll do it with a smile ■
■ Got the kind of high you can't
ignore ■
■ Whoa-oh ■
■ She's dancing through the
storm ■
■ Dancing through the storm ■
■ She ain't afraid of a little
bit of rain ■
■ Yeah, she's about to transform

■ She's gonna transform ■
■ Ain't nobody gonna put out her
flame ■
■ She's dancing through the
storm ■
■ She's dancing through the
storm ■
■ Oh-oh ■
■ Oh-oh. ■
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