At a recent IoD 99 Network social, IoD West Midland Members were captivated by Phil Neale’s story of how he founded his company Snoozle - the social alarm clock.
It has been a fascinating journey so far and members were particularly interested in Phil’s account of how and why he had chosen to use crowd funding to raise money.
Phil had researched deeply into the benefits of sleep which is now considered to go hand in hand with diet and fitness for a healthy lifestyle.
His true entrepreneurial spirit drove him to give up a successful career with a leading retailer to follow his passion for an app which would wake you up with voices from friends and family and also aid you to sleep with lullabies – think rainfall or the crackling of a fire.
His advice to IoD members was to be honest with your valuation; research to make sure your pitch is right and to innovative. He was honest about the lessons he had learnt and shared his strategy going forward.
The presentation triggered many questions, especially about his funding route and how to perfect a pitch to attract investors. For example, how to improve an app’s ‘stickiness’ which is how long and how many times a consumer interacts throughout the day.
This series of events which we are running in association with the Birmingham business library, is to bring you the success stories from our local entrepreneurs. Hopefully you can relate to their challenges, learn and network together.
For more information you can email Sue Hurrell or visit our website
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