With $30,000 in prize money on the line, 76 teams and companies ranging from providing nightlife to saving coral, took part in the annual BYU–Hawaii entrepreneurial competition “Empower Your Dreams.” Although the events on April 3 and 4 were branded a contest, participants and organizers shared how winning was a small part of what it means to empower people’s dreams.
One of the judges for “Empower Your Dreams” was Colby Bauer, the founder of the multimillion-dollar company, Thread Wallets. In 2015, he and his wife participated in “Empower Your Dreams.”
He said coming to judge a competition he did not even place in four years earlier was humbling. “Whether they told us we were a winner or not, they motivated me outside of the competition.” He said moving forward after the competition for him was like “when you are dating someone, and they turn you down. Then you turn around and get a better girl or guy.”
Willes Center Entrepreneur in Residence Ryan Chaffin said during this year’s finalist presentations, he was one of the judges when Thread Wallets competed and they succeeded without winning money.
Like Bauer, Chaffin shared he competed in the BYUH entrepreneurship competitions but was never chosen as a finalist. He said he knows others in similar situations.
“Many of us who graduated left BYUH and were running businesses we started as students, and none of us ever won any prize money in the competition.”
Chaffin addressed the audience members during the competition and said, “To anyone who didn’t win, or those semi-finalists in the room who were not chosen as a finalist, it does not mean your business is not a good idea. It does not mean you can’t grow and have a great business. [Though] some of the judges didn’t see the vision doesn’t mean the vision isn’t there.”
A member of a semi-finalist team was Cherie Moore, a senior from Utah majoring in peacebuilding. She competed in the pre-revenue category, one of the four categories in the event, with her company Smile Aisle.
Smile Aisle is a clothing line, Moore said, dedicated to reminding people to stay positive.
She said with help from her YouTube Channel subscribers, totaling over 15,000, and social media influences, Smile Aisle made $600 in revenue since Feb. 6.
Despite this margin and the audience her business reached, Moore said her team’s time in the competition was shorter than they wanted. “We didn’t make finals, but it’s okay. To be honest, it was hard for a bit there. It’s hard putting so much time and effort into something to realize that it wasn’t enough.”
Even though it was not what Moore said she wanted, she shared, “I honestly feel like being in this competition helped me learn about myself and how to work as a team. Sometimes we fail, actually, a lot of the time we fail. But it is how we learn and grow from our failures. That can pave a path for success.”
Moore said she will continue Smile Aisle because it is a part of her lifestyle, and she sees “Empower Your Dreams” as the beginning.
Meet the judges
Tina Fonoimoana Reid
Laie native Tina Fonoimoana Reid graduated from BYU with a bachelor’s degree in anthropology, and she said she learned she had a passion for entrepreneurship. In 2011, Tina and her husband co-founded Redwood Therapy and Youth Services, an agency that provides outpatient mental health therapy and rehabilitates foster children in the state of Utah.
In 2012, Reid started out of her home Cheat Day Bakery inspired by island flavors. Two years later, Reid and her family relocated to American Samoa, and she restarted Cheat Day Bakery. Now it is the only dessert bar on the island.
Reid shared it was a “full circle” coming back to Laie to help others with their business goals. “I was raised here. So to come and have people think I have something of value to offer is very encouraging. I hope I am encouraging others on the way too.”
She said she was impressed by the students and by the support from the staff of the Willes Center.
“Having people to ask questions to is fundamental. I think entrepreneurship is difficult no matter how you do it, but to have a support system encouraging you is helpful. I had to figure it out on my own. Although I grew from those experiences, I would love to be able to pass advice to others and let them learn from my experiences.”
She concluded by saying, “I would want students to know they should try it. You will never know if it won’t work if you don’t try. Let Heavenly Father direct your path, and you will be set.”
Colby and McKenzie Bauer
McKenzie and Colby Bauer, the founders of Thread Wallets, said their company brings “functionality and self-expression to a product category saturated with bulky and boring.”
Their wallets started as a school project in a BYU-Hawaii entrepreneurship class. They sold their products at BYUH Farmer’s Markets. In 2015, Thread Wallets went on to raise $35,000 on Kickstarter. Later that year, the company went from more than $130,000 in sales in 2015 to $1.1 million in 2017.
McKenzie Bauer said they participated in the Empower Your Dreams competition while they were students here. Although they only got an honorable mention, McKenzie shared it did not stop them from growing their company projected to succeed more than 4.5 million dollars in sales this year.
“Just keep going and trying to innovate. Business take a lot of change and adaptation. Stay on top of things and roll with punches,” she said.
Celia Barnes
Celia Barnes is the product director for the Deseret Book Company in Salt Lake City. She also coordinated marketing for a startup company that was sold to a Fortune 500 company.
Barnes shared she has two college-age children and she understands being a student and trying to start a business requires sacrifice.
“I do not know how the students [in the competition] do it. They are probably not getting that much sleep, which is important as a college student. I applaud their dedication and drive to be able to manage the stress of keeping up their classes and social life, if they can still have one, and trying to start a business which can be all consuming.”
She added the hardest part of about being a judge is narrowing it down to who wins, but luckily they have categories like uniqueness and feasibility, which makes it easier to judge based on sustainable business plans instead of something a judge might favor.
“I have been blown away with how much work these students have put into it thus far. In many cases, they already have a business that is up and running and has already shown success. They are not just ideas. They have already [been] proven successful.”
“I am so honored to be here. I am energized by being able to be around students.”
Alison J. Prince
From being featured in Forbes and the cover of Costco Connection, Alison J. Prince is known for having four successful multi-million-dollar online businesses.
“I went into junior high teaching, and I found out I qualified for food stamps, which is not a good feeling after you graduate college. So I took some leftover craft supplies from my house. I had four little kids, two of which are here [at this event]. I took these supplies that were headed to the trash can and built a million dollar business.”
Prince adds, on her website www.alisonjprince.com, “A friend helped me create a super simple website, and I posted my first online product: left-over craft supplies I found in the corner of my office. They sold. I reinvested the profits. I was hooked.”
She said her most successful business choice was teaching her 10 and 13 year olds how to sell more than $100,000 in nine months. Now Prince teaches thousands how they can live like her.
“I had the thought, ‘I am a one-hit wonder.’ I don’t like that feeling, so I went out and built another million dollar business. Then I was like, ‘Maybe I just got lucky again?’ Four multimillion-dollar businesses later, I am obsessed with the business world - so much that I decided to teach my girls how to do it.”
Awards
Pre-Revenue:
1. Soulreal Yoga (Kristan Tiritilli, Lexi Francis)
2. Mini-Fridge (Devin Hampton)
3. The Towel Bag (Kristin Collins, Sabrina Guerra)
Winner of the Pre-Revenue category, Kristan Tiritilli, a junior from California majoring in interdisciplinary studies, said her company, Soulreal Yoga, an on the go yoga studio, will spread due to the prize money because she can invest in a car to travel to her booked sessions.
“It was surprising [to win] because you have so many competitors. It was all my hard work finally paying off.”
She sees her yoga business traveling around the island and beyond, with an emphasis on providing yoga supplies and classes for tourists.
Impact:
1. Pigs for Prosperity (Alvin Vincent Dy, Alysha Gurr,
Jordan Joshua Richards)
3. Unified Supply Chains (Ammon Ioka)
4. ReefSavers (Michael Jarvis, Kendra Nelson)
One of the founders of the winning company in the impact category, Alysha Gurr, a senior from Canada majoring in social work, said her project, Pigs for Prosperity, supplies piglets to struggling families in the Philippines and since winning it will have more power in fighting poverty. “I know my team has faith in our project, but it was really validating to know that the judges could see the potential it has as well. A little bit goes a long way in the Philippines, so this money will make a difference. With the money, we hope to start a pig farm so that we can keep the project sustainable and help so many more families become self-reliant.”
Revenue:
1. Starlight Records (Anel Canto, Jon Leach, Addison Hellum)
2. Oyo Ties (Tsetsgee Enkhbold)
3. Harold Pedroso Photography (Harold Pedroso)
In the revenue category, where companies must have made $1,000 in revenue, Addison Hellum, a freshman from California majoring in computer science, exceeded that requirement. He said his company has made over $60,000 and plans to double that number soon.
His company, Starlight Records, won in the revenue category and Hellum said it was an honor to present alongside great companies. With the $5,000 prize money, he said, “We’re planning to expand the company to have a greater presence on social media and the web through music promotional blogs. We’re currently accepting both artists as well as investors.”
Young Entrepreneurs:
1. North Shore Photo Booth (Angelee Marshall, Ashley Marshall)
2. Crinkles for College (Alexa Springer)
3. Kelly’s Lawn Care (Kelly Lewis, Kendra Lewis, McKay Lewis)
Willes Center Entrepreneur in Residence Ryan Chaffin shared during the competition the Young Entrepreneur Category was introduced last year, and it targets young entrepreneurs on the island rather than BYUH students.
There were four additional judges for this category. Two of the judges were the daughters of Alison J. Prince, and one, Bridges Prince, said she was grateful to help young entrepreneurs because she is one herself.
“When I was 10 and my sister was 13, we built a business and we sold scarfs. In nine months, we sold over six figures.”
Winners of the category were Laie residents Angelee Marshall and Ashley Marshall. They said they were surprised to win because of competition from businesses like “Crinkles for College,” but they knew their photo booth business was a strong contender.
“With the money, we are going to get better equipment and eventually we want to build a mobile software to go along with our business,” said Ashley Marshall.
Writer: Noah Shoaf