Holiday Gift Guide 2023 – Supporting Entrepreneurs on Small Business Saturday

This Small Business Saturday, join us in supporting rising entrepreneurs while finding the perfect presents for those who matter most. From tech gadgets and educational courses, to delectable meals and stylish clothing, the 2023 RevRoad holiday gift guide features an array of select consumer products from our portfolio companies. This guide spans a diverse range of options to accommodate preferences of each family member.

Happy holiday shopping!

For the EV enthusiast

EVject breakaway adapter

EVject: $199 breakaway charging adapter

EVject is the ultimate gift to keep the EV drivers in your life safe. Offering a unique charging adapter that ensures a secure breakaway while plugged in, this innovative device is the first of its kind. With its convenient design, EVject not only prioritizes safety but also provides unmatched peace of mind, making it the ideal present for tech-savvy individuals or electric vehicle enthusiasts. See the EVject in action on the company website here. 

For the master of organization

Salt By Sabrina expandable drawer organizer

Salt by Sabrina: $68 Expandable Drawer Organizer

Give the gift of organization and elegance this holiday season with premium acrylic drawer organizers and dividers. Crafted with precision to seamlessly fit any drawer, these exceptional organizers not only elevate the aesthetic of any space but make for a perfect holiday gift. Founder Sabrina Gardner believes that organization can enable us to conquer whatever life brings our way. Each product is designed to simplify your life, beautify your spaces, and you with confidence. See all the organizational solutions for your home by visiting their website here.

For the healthy home chef

Citrus Pear freezer meal delivery

Citrus Pear: $179 set of 10 freezer meals 

This holiday season, give the gift of  convenience and health with freezer meal kits. Ensure that loved ones can enjoy warmth in every bite of the delicious and nutritious meals effortlessly, making every dinner a stress-free and wholesome experience. Citrus Pear believes that healthy eating should be easy no matter what stage of life you’re in. Their team of registered dietitians provides pre-assembled meals and hosts freezer meal prep classes. Look for gift card options as well by visiting their website here.

For the dragon rider 

dragon federation egg

Dragon Federation: $149-500 dragon egg

Turn this holiday season into an enchanting journey by gifting the wonder of a dragon egg. This egg is waiting to be nurtured and brought to life. With a mystical AR portal on your mobile device, you can monitor your dragon egg’s vital signs, creating a unique and enchanting experience for anyone who loves fantasy and interactive storytelling. To learn more about raising a pet dragon, or seeing other breed options, check out the Dragon Federation website here. 

For the firearm fanatic

bone dri gun case

Bone Dri: $99 Rust Prevention Shotgun & Rifle Case

Still searching for the perfect gift for the gun fanatic of the family? Help them keep their collection in pristine condition by giving the gift of protection. Bone Dri’s gun cases are designed to remove any and all moisture on or inside the weapon, while also preventing any more from creeping in. Simply place the compromised gun inside the case before bed, then unwrap a perfectly dry weapon the next morning—just like Christmas! Even the deepest, most seeped-in moisture doesn’t stand a chance. Keeping firearms in good condition is not only essential to the gun’s functionality, but it also increases safety for the user. Check out the various cases and styles on their website here.

For the carbonation addict

Bobelo self-carbonating drink mix

Bobelo: $35.99 self-carbonating drinks 32 count box

This gift is for the soda lover, energy chugger, and sports drink enthusiast. Bobelo’s delicious drink mix gives you all the flavor and bubbles you want from a soda, but with better hydration, better nutrition, and none of the guilt. Each Bobelo pouch is sweetened with stevia leaf instead of sugar, and packed full of vitamins and electrolytes—keeping families hydrated and energized all year long. Plus, their small and portable drink packs make for perfect stocking stuffers! View flavors and recipes on their website here. 

For the outdoor adrenaline junkie

CRUX Academy outdoor courses

CRUX Academy: $6–12 per month course subscriptions 

This gift is for anyone looking to experience the outdoors with confidence. It’s hard to go wrong when you grant the gift of knowledge. CRUX offers many courses on outdoor activities for the season, such as backcountry skiing and avalanche preparedness, as well as fly fishing, living the van life, climbing, mountain biking, and more. Crux Academy delivers an excellent learning experience from the world’s most accomplished outdoor athletes and thought leaders to empower anybody’s outdoor experience. View courses and get more information at their website here.

For the healthcare hero

ALTA Scrubs: $56 scrub joggers

These scrubs provide comfort and style to the medical worker in your life. ALTA Brand has innovated on the classic look and designed something with performance and comfort in mind, down to the very last stitch. With 4-way comfort flex, antimicrobial Silvadur™ lining, strategic pocket placement, and a modern, trendy design, this scrub uniform is flexible, comfortable, and practical for both men and women. Give a gift they’ll love wearing every day! Shop all ALTA Brand products on their website here.

For the creative visionary

Sentient Academy online art courses

Sentient Academy: art courses and subscriptions starting at $20

Be the spark that ignites creativity in someone you love. With a Sentient membership, anyone can unlock their creative potential by experiencing a master firsthand. Dive into the mindset, techniques, and inspiration behind dozens of award-winning artists as they journey from canvas to masterpiece. While other courses circle around subjects with no real substance, Sentient has cut out the fluff to make better artists faster. Whether that special someone is a doodler, sketcher, painter, or designer, Sentient will help them reach higher and find their fire. Bring the joy with a single course pack or a subscription to their vast catalog of lessons and demos. See their full course list and plans here.

For the traveler 

Elios portable battery pack to charge all electronic devices

Elios: $299 GoPlug 100 SMART Power Bank

Have you ever been navigating through an unknown city when your cellphone dies? Nobody carries around paper maps these days, so how can you be expected to find where you’re going without your travel companion apps? Give the gift of portable power so that the traveler in your life will never be stranded with their battery on 1%. Let the most compact, long-lasting portable battery on the market jump-start their phone, laptop, camera, or other technology, in preparation for the next leg of the adventure! View battery packs, portable solar panels, and carriers on the Elios website here.

For the family cook

 

PrePear app for recipes and meal planning

Prepear: $9.99 per month meal planning subscription

Putting a healthy dinner on the table every night continues to be one of the biggest stresses for busy parents. Give the gift of stress-free cooking with a subscription to Prepear! The receiver of your gift will enjoy step-by-step cooking with a thoughtfully-designed recipe interface to help them save time, eat healthier, and cook creatively. They get access to unlimited meal plans and grocery lists that take the stress and planning out of meal preparation. It’s the gift that keeps on giving! Learn more at Prepear’s website here.

For the musical maestro

Duet: Monthly Subscription for $20

We all have that one music teacher in our community who has taught our kids the joys of music for years. Now give them something in return this holiday by saving them hours each week on managing their students using Duet! With Duet’s simple and intuitive software, any music teacher can keep track of their students, perfectly plan out their week, and even build their entire season schedule in just a few clicks. No more endless back and forth with parents. Now you have the perfect gift for some of the most dedicated, yet kindest members of your neighborhood. Get the full scoop at Duet’s site here.

For the scrapbook queen

Persnickety Box eco-friendly photo keepsake box

Persnickety Box: $197 (sale price) for the ultimate photo bundle

There’s always at least one person in the family who wants to take photos of everything—every outing, every meal, every road-side flower. It’s time they experience Persnickety Box. Each month, Persnickety will print 30 of their favorite photos, which they deliver in a beautiful, eco-friendly keepsake box. What could be more memorable than a gift that helps preserve cherished memories! Plus, it’s so easy to get started! View all printed products on Persnickety Box’s website here.

For the children who dream

Cedar Fort personalized children's books

Cedar Fort: $29.99 (sale price) personalized children’s book 

Customizable books are just what they sound like: books that are customizable! Have you ever read a children’s book and thought, “This sounds like my child!” Cedar Fort made it possible for parents to bring that dream to life by transporting children into their very own book! A perfect and exciting gift for children to receive on Christmas day, a personalized book is the kind of gift a child would keep for the rest of their life. View all published products on Cedar Fort’s website here. 

For the super sanitizer 

PhoneSoap UV light sanitizer

PhoneSoap: $39.95 (sale price) UV-C sanitizer for smartphone

Did you know that studies have shown your phone’s surface contains 10 or more times the bacteria as your average toilet seat? Thankfully, PhoneSoap’s UV-C technology will sanitize your phone after you’re done scrolling TikTok from the porcelain throne. Compatible with all smartphones, these sanitizing pods kill 99.9% of germs on hand-held devices. Maybe you’re the biggest germ spreader of the home, or maybe it’s your partner, but no matter who’s been skipping their handwash singalongs, having a PhoneSoap around can help make everyone healthier and safer this holiday season and beyond! Shop all UV-C sanitation products on PhoneSoap’s website here.

And there you have it—many amazing gift options sourced from local entrepreneurs and small businesses. We hope you found an item for your spouse, friends, children, neighbors, and more! We’ve used these items ourselves, and we absolutely love them! By adding unique and memorable gifts like these under the tree this year, you’re not only guaranteed to stand out, but you’ll also be supporting Utah entrepreneurs.

LLC for Business – What You Need to Know

women discussing LLC for Business

In the vast landscape of business structures, Limited Liability Companies (LLCs) stand out as a versatile and popular choice for entrepreneurs. Offering a unique blend of flexibility and protection, LLCs have become the go-to option for many aspiring business owners. Not to mention, they are extremely simple to set up and a very affordable option. 

Many startups opt for the LLC route right from the beginning. The allure of an LLC’s simplicity and ease of setup is undeniable, making it an attractive choice for those ready to get a jumpstart on their business venture. 

We’re no strangers to the vibrant tapestry of startups. While many ventures kickstart their journeys as Limited Liability Companies (LLCs), we often find ourselves guiding them through the complex terrain of potential transitions, helping them make informed choices based on their unique needs and long-term goals.

In this article, we’ll delve into the key considerations surrounding LLCs to help you make an informed decision when setting up your small business, lifestyle business, or high-growth company.

What do I need to know about an LLC business structure?

Let’s break it down simply. First, the name says it all. With an LLC, you (as the owner) have limited personal liability for business debts. This means that nobody can come after your personal assets if your business ever finds itself in deep waters. Within your LLCs, you can be a single member, or have multiple members. 

Next, when setting up your LLC, you have more flexibility than you would with other business structures. LLCs have fewer formalities compared to corporations, giving you the freedom to structure things in a way that you want for your business.

You will need to define the Operating Agreement which states how the business is run, member roles, and financial arrangements. You will also need to identify Management to indicate who the decision makers are: management will either be indicated as member-managed for all members to share in decision-making, or as manager-managed to designate a singular manager to make decisions on behalf of the company. 

When it comes to taxes, LLCs are usually pass-through entities for tax purposes which means that profits and losses pass through to the members’ personal tax returns.

Remember, while LLCs do offer protection, the specifics can vary. It’s always wise to double-check your work with a lawyer. 

Is an LLC the right choice for my business?

When deciding if an LLC is right for your business, you need to consider your entrepreneurial goals. Are you envisioning a modest, family-run enterprise or are you aiming for aggressive growth with institutional investments? Ask yourself the following: 

  • What are my Long-Term Business Goals? 
  • How Important is Personal Asset Protection? 
  • What is the Role of Investors or Partners? 
  • Do I Envision Complex Ownership and Governance Structures?

Entrepreneurs who are looking to establish a lifestyle business or a cozy family-run enterprise where high growth may not be the primary objective will typically find that an LLC suits their needs. The inherent protections offered by an LLC’s limited liability shield provide peace of mind, ensuring that personal assets remain sheltered even in the face of business uncertainties.

Lifestyle businesses and enterprises with localized ambitions may find the LLC’s protective shield sufficient for their long-term objectives. For these ventures, the flexibility of an LLC – the ability to tailor ownership structures and governance models – remains a powerful tool that aligns seamlessly with its vision.

However, if you already know from the get-go that you will want to raise venture capital or will have complex ownership, you may consider setting up your business as a C-Corp. 

Pivoting Towards Growth: The Path to a C-Corp

Keep in mind that you don’t have to know the answers to all the previous questions from day one. Plans change over time and you can always restructure your business as needed. 

A C-Corporation (C-Corp) emerges as an appealing option for companies preparing to raise institutional funds. The 1202 tax code “allows capital gains from qualified small business stocks to be excluded from federal tax.” This unique advantage can’t be overlooked, especially when the venture plans for substantial growth and the need for external investors.

Crafting a Tailored Path: RevRoad’s Expertise

As startups evolve and scale, the decision-making process can be complex. Navigating the legal documents needed to ensure a structurally sound foundation for your business can be daunting. That’s where sweat-equity firm RevRoad steps in as your trusted advisor and partner.

RevRoad’s role is not only to provide guidance but also to facilitate the strategic decision-making process. Our Legal team has witnessed the unique advantages and disadvantages that both LLCs and C-Corps offer and can help startups understand the nuances, risks, and rewards associated with each.

RevRoad’s seasoned team is here to work shoulder-to-shoulder with you and attain the full value of your startup. Our goal is to empower entrepreneurs with the knowledge, insights, and team needed to make a difference in the world. Let’s start by setting up your organization with the right structure. Contact our investment team to see if your company is a good fit for the RevRoad program. 

RevRoad Entrepreneur Competition Fall 2023 Winners Announced

RevRoad is proud to announce the winners of the Fall 2023 semi-annual Entrepreneur Competition, sponsored by Central Bank. 

As a beacon for emerging startups, both in high-growth and lifestyle sectors, the competition provides a platform for participants to showcase their innovations. With an impressive lineup of judges, this competition is an ideal  arena for entrepreneurs to forge connections, receive valuable feedback, and hone their pitching skills.

The Fall 2023 edition broke the standing record of applicants, bringing in over 200 startups nationwide. From this pool, the top 36 companies were invited to attend the in-person pitch competition on Oct 14, 2023 at the UVU Keller Business Building. 

Of those top companies, the following companies received awards with over $30,000 of value. 

$15,000 Central Bank Grand Prize winner – Gnara

RevRoad CEO Derrin Hill, Gnara Founder Georgia Grace Edwards, CB Vault Executive Director Jake McHargue

Gnara is on a mission to help everyone answer nature’s call (quite literally) via our patented GoFly zipper technology. We’re revolutionizing women’s clothing and adapting it for everyone’s needs—from hiking to serving on the front lines—through innovative and inclusive design that makes people feel safe, comfortable and confident to explore as they are, whether at work or at play. 

$5,000 Runner up – Team Nation Sports

Team Nation Sports CEO Whitney Clayton, RevRoad CEO Derrin Hill, Team Nation Sports Co-Founder Matt Clayton

Team Nation Sports builds software that turns sports learning into games on phones. The company believes that if you can learn how to learn football, you can learn how to learn anything. 

$2,500 3rd place – ILLA

RevRoad CEO Derrin Hill, ILLA Founder Tana Hoffman

ILLA is an AI-driven adventure platform for women+ who walk, run, ski, hike, bike, climb, paddle, surf, brap, and more!

$1,000 Fan Favorite – KAXI

Kaxi Founder and CEO Lexi Cuillard

Kaxi is a women’s hair accessory company that focuses on both style, function, and most importantly — hair health!

WTCUtah Trailblazer Award (Value) – Nani Swimwear

RevRoad CEO Derrin Hill, Nani Swimwear Fo-Founders Jana Barlow and Amy Rasmussen, WTCUtah COO David Carlebach

Nani embraces strength and confidence with active swimwear that not only looks good but feels good. Designed with adventurous women in mind, Nani is made for movement. Nani is the Hawaiian word for “beautiful”, and our mission is to create active swimwear that empowers women of all shapes and sizes to #livenani by seeking adventure, being kind, and striving to give back.

Kiln Membership Award (Value) & Thread Consumer Product Award (Cash) – Powder Baby LLC

RevRoad CEO Derrin Hill, Powder Baby LLC Founder Kylee Black, Kiln CEO and Co-Founder Arian Lewis
RevRoad CEO Derrin Hill, Powder Baby LLC Founder Kylee Black, Thread Wallets Co-Founder McKenzie Bauer

Powder Baby LLC provides dry shampoo that is made of 5 natural , vegan, ingredients. The products are packaged in a paper bottle that is completely biodegradable and healthy for the environment. It is the only dry shampoo on the market to come in 5 unique colors that match your hair shade and leave absolutely no residue. Because the dry shampoo is made with only powder and no aerosol, it is more effective in absorbing grease long term and keeping your hair healthy, smooth, and looking clean.

We Congratulate the winners and offer our heartfelt gratitude to everyone that participated in this pitch competition!

We couldn’t have done it without our incredible judges, sponsors Central Bank of Utah, Squire & Company, PC and RevRoad Capital, and all the competitors, team members, and community who came together.

For information about future RevRoad Entrepreneur Competitions, please visit ecomp.revroad.com.

RevRoad Partners with Kiln to Open Doors of Provo Coworking Location This Fall

RevRoad partners with Kiln

PROVO, Utah, Oct. 5, 2023— RevRoad, a sweat-equity firm for startup companies, is proud to partner with Kiln to host entrepreneurs in a coworking space at their new location at River’s Edge on University development in Provo, UT. The new flex-office opened its doors to membership holders on September 18, 2023, allowing the RevRoad team, RevRoad portfolio companies, and other local startups to claim their new office space. To mark the beginning of this new partnership, RevRoad and Kiln will host a panel discussion on Friday, October 20th, from 3:30 to 4:30 PM, featuring Arian Lewis, CEO & Co-Founder of Kiln, alongside Derrin Hill, CEO & Co-Founder of RevRoad. They will share their insights about entrepreneurship, partnerships, and growing into new markets.

In partnership with Brighton Development, Kiln’s 40,000 square-foot, handcrafted facility provides an amenity-rich, all-inclusive workspace experience for creatives, startups, and enterprise teams. This co-working space is set to become a center of gravity for Provo’s vibrant entrepreneurial community. This beloved corner of Provo, following years of demolition and reconstruction, is now a revitalized hub for visionary entrepreneurs and small businesses.

“I have always loved Provo, not only because I was raised here, but also because it has been home to so many impressive founders and companies,” says Arian Lewis, CEO of Kiln. “We couldn’t be more excited to introduce the Kiln community to all the good that this ecosystem already has to offer. We were very impressed with Brighton Development’s vision and creative plan for River’s Edge. What we are building together in Provo will be world-class, showcasing the future of flexible and experiential workspace.”

Provo continues to thrive with a near-uninterrupted title of America’s “top-performing city” in annual economic rankings by the Milken Institute. Its active population, strong talent pipeline, and dynamic entrepreneurial scene draws hugely successful companies like Vivint and Qualtrics, while nearby Brigham Young University and Utah Valley University both feature impressive entrepreneurial centers and mentorship programs. 

“The days of Plumtree Plaza lying dormant as an eyesore to our community are over with the transformative development well-underway at River’s Edge on University,” says Provo Mayor Michelle Kaufusi. “Creating economic vibrancy requires the right timing and team. With both now in place, our promise to reinvent spaces for new generations to enjoy is underway. Kiln is an ideal example, with their innovative work concept not only expanding job opportunities, but re-envisioning the entire industry.” 

The standalone facility is conveniently located just ten minutes from I-15, centered between the major thoroughfares of State Street and University Blvd. The 28-acre mixed-use development features popular restaurants and shops, as well as premium apartment units (The Lofts at River’s Edge) and townhouse style condos (The Towns at River’s Edge). As the anchor tenant of River’s Edge development, Kiln’s flexible office and coworking community will provide a full-scale list of amenities for individuals and teams of 1–100. Kiln offers club memberships for individuals, private offices for small teams, and enterprise suites for large teams.

RevRoad CEO Derrin Hill said about the partnership, “Our mission at RevRoad has always been to empower startups and entrepreneurs, working shoulder-to-shoulder with them on their journey to success. Kiln shares this commitment and demonstrates that by creating a vibrant ecosystem of collaborative workspaces and community engagement. It’s the perfect marriage of our shared values and vision, where innovation thrives and entrepreneurs flourish. Together, we are redefining what it means to support and nurture the entrepreneurial spirit, and we couldn’t be more excited about the incredible possibilities that lie ahead.”

Many hands have been involved in helping this project come to life, including The City of Provo, Nate Pugsley of Brighton Development, Eric and Brycen Woodley of Woodley Real Estate, Lance Pendleton of Mountain West Commercial, and Dan Teed and Taylor Carpenter of Mint. 

Kiln and RevRoad intend to host a myriad of events that bring the community of entrepreneurs together, many of which will be open to the general public. Learn more at kiln.com and revroad.com/events.

Kiln Provo address: 2250 N University Pkwy, Provo, UT 84604.

For press inquiries contact kyle@kiln.com and brittany.ouimette@revroad.com. 

About Kiln 

Kiln is currently home to more than 4,000 members and 1,200 businesses across 12 locations in Utah, Colorado, California, Idaho, and Oregon. Founded in 2018, Kiln is expanding across the Mountain West and West Coast, with several additional locations under development in varying stages. A full list of locations can be found here. Kiln’s founding team, composed of co-founder/CEO Arian Lewis and co-founder/creative director Leigh Radford, has been at the forefront of design, operations, and innovation within the flex-office and coworking industries for the better part of two decades. Lewis and Radford have collaborated on the launch of prior coworking brands, with international locations spanning London, New York, Tel Aviv, Cape Town, Mumbai, and Lithuania. Learn more at kiln.com.

About RevRoad

RevRoad is a sweat-equity partner for scaling companies, dedicated to achieving the full value of startups. The company empowers portfolio companies to maximize profitability, get to market faster, and create a solid foundation for their venture. RevRoad team members work shoulder-to-shoulder with portfolio companies, enabling businesses to scale efficiently while keeping founders in the driver’s seat. Visit revroad.com to learn more and apply to become the next portfolio company.

###

Pitch Deck Template – Get Ready to Pitch Investors or Compete in a Pitch Competition

Mobly pitching at RevRoad's entrepreneur compeition

What are pitch decks?

A pitch deck is a concise presentation (usually made in Google Slides or PowerPoint) that provides an overview of a business, typically delivered to potential investors, partners, or stakeholders. It serves as a visual aid to communicate key aspects of a startup’s vision, mission, product or service, market opportunity, financial projections, and team. Pitch decks are crucial tools for entrepreneurs seeking funding, as they distill complex information into a compelling and digestible format. Below, we’ll share a pitch deck template to help you get started. 

In a competition setting, where time is limited, a well-structured pitch deck ensures clarity and leaves a lasting impact on judges. Judges often rely on pitch decks to evaluate the viability and potential of a business. Pitch decks serve as a storytelling tool, allowing entrepreneurs to concisely convey their business narrative, influencing judges to positively sway their decision in favor of cash prizes. 

What Should I Focus On During a 5-Minute Pitch In a Competition?

pitch deck template for pitch competition

In a five minute pitch, it’s important to eliminate fluff and cut to the chase. Each judge may be looking for something different, so it’s hard to make a blatant statement as to what your primary focus should be. In general, judges will evaluate a company based on the following criteria: 

  • Problem
  • Solution
  • Market size
  • Validation and traction
  • Go-to-market plan
  • Investability 

How to Create an Impactful Pitch Deck 

Entrepreneurs gearing up for the upcoming RevRoad pitch competition need a focused and concise pitch deck to stand out to the judges. When you only have five minutes to share your pitch, it is critical to focus on the what matters most. Here’s a pitch deck template to guide you when creating a 10-12 slide deck that showcases the business you are building:

  1. Cover Slide:
    • Keep it simple with your logo and a tagline. 
  2. Introduction:
    • Start with your company’s vision or mission to set the stage with your “why.”
  3. Problem:
    • Clearly outline the problem you’re solving, emphasizing its significance in the market you’re addressing.
  4. Solution:
    • Showcase your innovative solution to the problem succinctly, avoiding unnecessary details. This may be more than one slide if you have a few products you want to show.
    • Don’t get too fixated on product features. Investors are going to care more about your traction (see below) than your solution. Anyone can build a product. The big question is whether or not that product actually has paying customers.
  5. Market:
    • Define the market size and your target customers. Consider using a TAM, SAM, SOM approach for a comprehensive view.
  6. What Makes You Different:
    • Show investors what sets you apart from competitors in the market. What enables you to break through the noise? Communicate your unique selling proposition, be it product features or brand differentiators.
  7. Traction:
    • This is arguably the most important section of your pitch. Dedicate a few slides to showcase your revenue, partnerships, and business model. Investors will want to know exactly how your business makes money, the current financial standing, and the growth potential.
  8. Projections or Big Picture:
    • If time permits, this is where you will dive deeper into the growth potential, presenting 3-5 year financial projections.
  9. Team:
    • Introduce your team, emphasizing their expertise and backgrounds. Investors invest in people as much as ideas.
  10. Conclusion:
    • End with a gracious thank you and provide clear contact information.

BONUS: If you are currently raising capital (outside of the competition), add a slide detailing how much money you’re seeking and what you need the money for. This slide would come after the “team” slide. 

How to Present a Pitch

Crafting an effective pitch deck (using the template above) will make your presentation stronger, but only if you know the information well. Avoid reading the slides—you should know the content inside and out. Remember, less text, more impact.

Before pitching investors or competing at a pitch competition, you should practice your pitch multiples times to ensure it fits within the allotted time frame. You should also anticipate questions from the judging panel (or investors) and practice your responses to those questions. Practice leads to confidence, and confidence leads to positive impressions!

With a well-rehearsed presentation and a pitch deck that focuses on the most important aspects of your business, you’re sure to do well at your next pitch presentation!

Apply to pitch your company in the next RevRoad Entrepreneur Competition, or apply to be part of the RevRoad portfolio. 

RevRoad Awarded Top 30 Fastest Growing Companies In Utah Valley

RevRoad fast growth

Provo, Utah, Sept. 21, 2023—RevRoad, a sweat-equity partner for startups, proudly announces its recognition as one of the top 30 Fastest-Growing companies in Utah Valley at the UV50 Awards hosted by Utah Valley BusinessQ. This annual event distinguishes businesses for their exceptional growth and remarkable achievements in the region. RevRoad secured 14th place, showcasing a remarkable 3-year growth rate of 1,019%, as calculated using the Inc. 5000 equation: [(Recent year revenue – 2022) – (base year revenue – 2019) / (base year revenue – 2019)] x 100 = total growth percentage.

Founded in 2017 by a group of visionary entrepreneurs including Derrin Hill, Amy Caldwell, Bruce Hassler, A.J. Rounds, Jason Caldwell, and Bart Skalla, RevRoad has emerged as a force to be reckoned with in the startup ecosystem. With a mission to redefine startup support, the company has been instrumental in ensuring that entrepreneurs receive the full spectrum of resources, far beyond just financial backing.

In just a few short years, RevRoad has built a diverse portfolio of 76 companies, collectively valued at over $1.7 billion. In an industry where the odds are often stacked against entrepreneurs, RevRoad has managed to reverse the narrative, enabling a portfolio success rate of 68%.

A.J. Rounds, co-founder and CMO of RevRoad, expressed his enthusiasm for the company’s growth and mission, stating, “Our overhead goal is to be the number one venture capital/venture services portfolio in the world. We firmly believe that with the right support and resources, any entrepreneur can achieve their dreams.”

Offering advice to aspiring entrepreneurs, Rounds added, “Recognize that success requires a significant investment of time. You have to be willing to make this a priority in your life, professionally and personally, and do what it takes to make it happen.”

RevRoad’s extraordinary growth and unwavering commitment to nurturing entrepreneurial success have solidified its position as a guiding force in Utah Valley’s business community. As the company remains dedicated to empowering startups and facilitating innovation, its primary goal is to help more entrepreneurs build sustainable businesses that address real-world challenges. 

About RevRoad
RevRoad is a sweat-equity partner for scaling companies, dedicated to achieving the full value of startups. The company empowers portfolio companies to maximize profitability, get to market faster, and create a solid foundation for their venture. RevRoad team members work shoulder-to-shoulder with portfolio companies, enabling businesses to scale efficiently while keeping founders in the driver’s seat. Visit revroad.com to learn more and apply to become the next portfolio company.

Damon Deru Joins Orkid Solutions, Inc. as Chief Product Officer, Spearheading Innovation for Small Business Success

Damon Deru, CPO of Orkid

PROVO, Aug. 30, 2023—Damon Deru, seasoned entrepreneur and business mentor, was recently appointed as Chief Product Officer (CPO) to Orkid Solutions, Inc., an HR services aggregator designed for small businesses. In this strategic role, Damon will play a crucial part in ensuring that Orkid’s suite of services continually meet the evolving needs of small business owners.

Regarding the hire, Justin Atkinson of the Orkid Board of Directors stated, “As we continue to look for ways to serve the small business community, Damon was the perfect fit to ensure that our services will focus on helping small businesses scale their employee and administrative offerings. Having built small businesses himself, Damon understands the unique struggles that small business owners face, and plans to focus his efforts on uniting technology and white glove service in a way that will help small business owners thrive.”

Deru began his career as a trader and Registered Investment Advisor at a prominent wealth management firm based in Salt Lake City, UT. In this role, Deru recognized the prominent need for advanced trading software tailored to the intricate demands of wealth management, which sparked his transition to technology entrepreneurship, founding his first tech venture, TradeWarrior.

Established in 2010, TradeWarrior quickly gained loyalty and recognition from wealth management firms nationwide for its innovative trading software. This remarkable trajectory led to a merger in 2017 with Chicago-based fintech startup, Oranj, that was eventually acquired by global financial technology company SEI. Following this successful venture, Deru’s started AdvisorPeak with a focus on building advisor  technology that anticipates and streamlines an advisor’s trading operations. In 2021, AdvisorPeak was acquired by Addepar, a leading wealthtech firm managing over $4 trillion in assets on its platform.

Deru then stepped into a new role as product advisor and co-founder of ControlQore designing project management and payment software for general contractors. Deru later co-founded and served on the advisory board of BroodStack, a company that offers outsourced software development services with offices in Utah, South Dakota, and Trivandrum, India. Following his time at BroodStack, Deru brought his skills to the nonprofit sector as a board member for EnLevo, aiding in technology and fundraising efforts in support of their mission to build more sustainable lives for Guatemalans in remote villages.

“I’m eager to join Orkid Solutions and contribute to the growth and success of small businesses,” Deru shared. “Orkid’s dedication to empowering small business owners resonates deeply with me, and I’m eager to merge my experience and insights with their forward-looking approach. By combining technology and unparalleled service, we’ll forge new paths for small business success and longevity.”

Deru’s appointment as Chief Product Officer marks a significant milestone in establishing Orkid’s organizational structure and service foundation. 

About Orkid Solutions

Orkid Solutions, Inc. focuses on relieving small business owners of daily burdens by identifying blind spots and filling operational gaps. Following a comprehensive analysis, Orkid strategically connects business owners with its network of top-vetted partners, eliminating guesswork and equipping executives with the tools to efficiently scale their operations and adapt to ever-changing needs. Visit orkid.com to learn more.

RevRoad Appoints Jenney Rees as Chief Operating Officer

RevRoad COO Jenney Rees

Jenney Rees joins RevRoad as COO and newest executive team hire, elevating organizational operations.

PROVO, Utah, Aug. 29, 2023—RevRoad, a sweat-equity firm for startup companies, proudly welcomes Jenney Rees as Chief Operating Officer (COO). With a proven track record of distinguished accomplishments in both the public and private sectors, Rees brings a unique blend of leadership expertise to her role and is poised to drive the company towards a future of innovation, collaboration, and growth.

“On behalf of the board and the entire RevRoad team, it is my pleasure to welcome Jenney Rees as the newest member of our executive team,” said Derrin Hill, CEO of RevRoad. “Jenney’s track record of remarkable achievements and her dedication to fostering positive change align seamlessly with RevRoad’s mission and values. Jenney’s expertise will undoubtedly bring a fresh perspective to our operational strategies, amplifying our efforts to drive growth and success for startups.”

Formerly serving as an Executive Director in the Governor’s cabinet at the State of Utah, Rees led a state agency with over 1,300 employees across nine divisions and oversaw a budget of $1 billion. As a staunch advocate for transformational governance, Rees championed policies, programs, and budgets that have contributed to greater collaboration across multiple divisions and improvement of service delivery. Her pivotal role in consolidating diverse state agencies into a streamlined department showcased her ability to optimize resources and enhance operational efficiency. Rees also served as both a member of the city council and mayor of Cedar Hills, Utah, and in 2020 was recognized by Best of State for her role as mayor.

In the private sector, Rees excelled as a dynamic leader, helping create tremendous growth in startup technology companies. At MediConnect Global, her ability to develop and implement efficient processes helped expand their medical coding division. With her leadership, this division quickly became the largest revenue generator for the organization, contributing to the eventual acquisition of the company for $348 million in 2012. In 2022, Rees was recognized by Utah Business Magazine as part of its 30 Women to Watch series. More recently, Rees has been serving as COO of Orkid, a small-business solutions startup and RevRoad portfolio company that will launch later this year. Rees will continue to support Orkid through its initial launch.

“I am thrilled to return to the private sector through RevRoad, returning to my roots in Utah’s tech startup scene,” said Rees. “The company’s commitment to helping startups thrive resonates deeply with me, and I am excited to contribute to RevRoad’s vision of fostering startup success and its overarching mission of creating a lasting positive impact.”

The appointment of Rees as COO marks a pivotal milestone in RevRoad’s growth, as well as its ability to provide industry-leading solutions for startup ventures.

About RevRoad

RevRoad is a sweat-equity partner for scaling companies, dedicated to achieving the full value of startups. The company empowers portfolio companies to maximize profitability, get to market faster, and create a solid foundation for their venture. RevRoad team members work shoulder-to-shoulder with portfolio companies, enabling businesses to scale efficiently while keeping founders in the driver’s seat. Visit revroad.com to learn more and apply to become the next portfolio company.

Hiring the Right People

Hiring the Right People exemplified by custodian entertaining kids at disney

Understanding Organizational Culture

Disney knows that organizational culture is the guiding force that shapes the behavior, mindset, and overall success of a company. They ensure hiring the right people who first and foremost align with the company culture throughout their hiring process. Disney then puts in the time, effort, and money to train their employees to have the necessary skill set. This may seem backward as most companies hire based off of skill set first rather than if an employee would “fit in.” 

Take Disney’s example and look beyond your applicants’ resume and delve into their personality, work ethics, and beliefs. By hiring individuals who resonate with your culture, you can significantly reduce the chances of conflict and ensure a smoother integration into the team. Strive to foster a positive culture that not only promotes productivity but also nurtures employee well-being and engagement. This will serve as a compass that guides every aspect of the organization, from decision-making to employee interactions.

To build your optimal company culture, you need to set up the correct structure within your company. This includes setting a company mission statement and vision, in addition to detailed values you want to see in your employees. Creating this type of foundation will help you come up with effective interview questions while hiring and a detailed training process to build successful and efficient employees.

Mission Statement and Vision

Where do you see your company in the future? What do you want to build your company to be? These are crucial questions when creating your mission statement and vision. Your vision should be goal oriented (future) while your mission statement should be what you are doing now to get there. For example, Disney’s mission statement is, “to entertain, inform and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds and innovative technologies that make ours the world’s premier entertainment company.” Whereas Disney’s vision statement is, “to be one of the world’s leading producers and providers of entertainment and information.” When your employees share the same mission and vision, they are more likely to work collaboratively and stay motivated, as they understand the impact of their efforts on the overall success of the organization.

Detailed Core Values

In addition to a well-defined mission statement and vision, having detailed core values is essential. Core values are the guiding principles that dictate the behavior and decision-making of your employees. When you hire individuals who already embody these values, you set the stage for a cohesive and aligned workforce. These shared values will also serve as a foundation for building a strong sense of unity and camaraderie among team members. Some of the values Disney works hard to incorporate are innovation, decency, quality, community, and storytelling.

Training to the Expectation

Disney’s approach of hiring to culture and training to the skill set is a prime example of how effective culture-based companies can be. While skills can be taught, attitudes and behaviors are ingrained deeply in an individual. Once you have the right people on board, it’s crucial to provide them with thorough training that reinforces your company’s expectations. This training should not only focus on technical skills but also on how to embody the company’s values in their day-to-day activities.

Effective training should entail clear expectations and tools. You employees need to know what is expected of them on day one in order to know how to bring success to your business. During the training, make sure to create an emotional connection to the culture of organization. This can be accomplished through exemplary trainers who will also provide an example of what an accomplished employee looks like. 

Effective Coaching Style

Make sure your trainers have an effective coaching style when building a culture-centric team. Leaders should adopt a coaching approach that empowers employees to embrace the company’s values and make decisions that align with the organizational vision. Encourage open communication, provide constructive feedback, and recognize and celebrate those who exemplify the desired culture. This supportive environment will foster a sense of ownership and commitment among your employees.

The Magic of a Culture-Centric Team

When company culture is deeply ingrained in the hearts and minds of your employees, something magical happens. Employees become more than just workers; they become ambassadors of your organization’s values. They are better equipped to handle challenges and make decisions in alignment with the company’s vision, even in unexpected situations. When employees are aligned with the company’s culture, they have the power to improvise and drive the organization towards its vision, resulting in a thriving and magical work environment.

Hiring the right people who match your company culture is an integral part of building a cohesive and successful team. This is especially important during the early stages of a startup, when your team only consists of a handful of people who will carry on the culture as more and more employees are hired. A clear organizational vision, detailed core values, and intentional hiring practices contribute to creating a culture-centric workforce. By training employees to embody the company’s expectations and adopting an effective coaching style, you can nurture a team that not only embraces the organizational culture but also contributes to its growth and success. When employees are aligned with the company’s culture, they have the power to improvise and drive the organization towards its vision, resulting in a thriving and magical work environment.

Onboarding The Right People with Mark Morrell – YouTube 

How to Find the Best Product Market Fit

Desire Paths at Ohio University

In the ever-evolving business world, finding the right product market fit is a make-or-break factor for the success of any venture. To achieve this alignment, entrepreneurs must understand and adapt to customer behavior, and embrace a mindset of continuous learning and iteration. Without doing so, you will find yourself creating less than optimal solutions that consumers will not change or adapt to. 

In the picture to the side, you will notice that people have ignored the paved walkway in order to get to their destination easier. This is a great example of what’s called a desire path. In landscape engineering, desire paths are created by people naturally taking the most convenient and efficient routes, regardless of designated paths. Similarly, in the business environment, desire paths represent the most frictionless way for customers to achieve their desired outcomes. Recognizing and understanding these desire paths is crucial to find the best product market fit.

Example of no product/market fit through desire paths at Brigham Young University

Product Fit: Asking What Do You Want? 

To begin, entrepreneurs must deeply understand what customers truly desire. This involves conducting problem interviews to identify pain points, challenges, and unmet needs. Embrace a mindset of brutal intellectual honesty and focus on discovering the truth rather than clinging to preconceived notions. Love the pain, not the solution. By gaining a clear understanding of customer desires, you can shape your product or service to meet those needs effectively.

Market Fit: How Do You Want to Get It?

Once you understand what customers want, the next step is to identify the most suitable market fit. This entails conducting solution interviews to determine how customers prefer to access and utilize the product or service. Adapt your approach to align with customer behavior rather than expecting customers to change their behavior to fit your solution. Remember, failure to build what is desired will ultimately lead to failure in usage.

Problem Interviews and Solution Interviews:

Problem interviews focus on understanding customer pain points, motivations, and desires. Engage in active listening, ask open-ended questions, and dig deep to uncover underlying needs. Solution interviews, on the other hand, involve validating your product’s value proposition by seeking feedback on potential solutions. These interviews help refine your offering and ensure it aligns with customer expectations.

Ensure that your product or service follows those desire paths that have already been paved. Your failure to build what is desired will lead to failure in usage of your product; hence, the dirt paths signaling people ignoring the paved walkway. It’s proof that consumers will not adapt to poor solutions. 

desire paths for sidewalk representing product market fit

Problem Interviews and Solution Interviews:

Problem interviews focus on understanding customer pain points, motivations, and desires. Engage in active listening, ask open-ended questions, and dig deep to uncover underlying needs. Solution interviews, on the other hand, involve validating your product’s value proposition by seeking feedback on potential solutions. These interviews help refine your offering and ensure it aligns with customer expectations.

Ensure that your product or service follows those desire paths that have already been paved. Your failure to build what is desired will lead to failure in usage of your product; hence, the dirt paths signaling people ignoring the paved walkway. It’s proof that consumers will not adapt to poor solutions. 

Embrace Iteration and Continuous Learning:

The journey to find the best product market fit is not a linear path. It requires constant iteration, feedback loops, and a willingness to adapt through the marketing process. Regularly test and refine your product based on customer feedback and behavior. Embrace the concept of “getting up in the balloon” – stepping back and gaining a holistic perspective, rather than getting lost in personal opinions or biases.

How to find the best product market fit is a challenging yet essential goal for any business. By understanding desire paths and customer behavior, entrepreneurs can pave the way to success. Embrace a mindset of continuous learning, iterate based on customer feedback, and remain open to discovering the truth. In the picture to the side, you’ll see a great example of Ohio State University successfully paving over the desire paths, making sustainable solutions for their community. Remember, the greatest chance of entrepreneurial success lies in knowing and following your customers’ desires. So, get out there, embrace the desire path, and let customer behavior guide you toward the perfect product/market fit.

Desire Paths at Ohio University

Jared Rohatinsky and Desire Paths | Finding the Right Product Market Fit. – YouTube