Seven finalists have been selected to compete for $22,500 in awards in the Fall 2020 Skandalaris Venture Competition. In anticipation of the SVC finals, on December 8, 2020, we are publishing a Q&A series with the finalists. Today's featured team is Lifted Pouches. 

About

Lifted Pouches is a “ready to consume” pre-workout supplement for the health-conscious individual on the go. Lifted Pouches are a nootropic pre-workout pouch; It contains small doses of p-synephrine, Arginine, and B12/6, which work together to maximize workout intensity, increase fat oxidation, and improve focus. They come in a small, easy to store container with 20 pouches per container.  

Industry: Vitamin and Supplement Industry or the Wellness Industry 

Number of Employees: 1 founder and 3 employees

Total Funding (as of November 2020): $7,250

What problem are you solving? 

There are no convenient ways for athletes and workout enthusiasts to take their pre-workout supplements. Athletes currently deal with portioning out messy powders, using smelly, unclean shaker bottles, or finding a refrigerator to keep their drinks cold right up until their workout. Lifted Pouches can be pulled from a front pocket and used before or during a workout; it’s that’s easy to provide the athlete with their energy. 

About the Founding Team:

• Derek Leiter-Founder- (MBA' 21): Patent holding inventor and Entrepreneur (Weightlifting) 
• Tyler Edwards (MBA' 21): Engineer and Recovering IP Attorney (Weightlifter) 
• Marguerite Whitelaw (MBA' 21): CPG Business Owner (Runner and Boxer) 
• Zack Hechtman (BSBA '21): Startup analyst with pre-Series A to Series C experience (Cyclist) 

What is the biggest lesson you've learned since starting your venture?

The first solution you think of will most likely be version 1 of 100. You really need to focus on customer discovery and work through manufacturing constraints (for a CPG product), all the while constantly using the feedback to improve iterations. It may take 10 or 20 prototypes before you are prepared for a first production run, but you will enter the market with confidence that your product is consumer-ready. 

What do you love about being an entrepreneur?

Being an entrepreneur is the difference between being someone who just notices a problem and someone who fixes that problem. There is an amazing feeling when you are able to show an original idea to customers who all share the same pain points. Not only do they share the same pain points, but they feel the pain enough to spend their money on the solution! 

What words of advice do you have for those interested in starting a business?

Don’t start down the path of starting your own business unless you truly believe in your idea because your passion, determination, and stamina will be tested. You must believe in your idea enough to blow past obstacles, pivot when it is necessary to accomplish your goals, and take risks (some financial) to succeed.

Instagram: @LiftedPouches