Hunting For A Fortune On Fortune Hunters

My friend Mike Tan and his start up, TeamPages.com, was recently featured on the CBC news show Fortune Hunters. The show features entrepreneurs trying to make a fortune by starting a new business and experts offering advice. It’s one of the few good shows on CBC. The other is Dragon’s Den.

TeamPages.com began when Mike and one of the original founders were managing a soccer team. They had a hard time communicating schedules and messages sent from the league to the entire team.

“We looked for online solutions, but there wasn’t anything out there that would let people manage teams over the Web.”

Their business plan for TeamsPages.com gave them first place at the IDC Challenge Business Plan Competition and second place in the New Ventures BC Competition. This provided the seed capital to start the site. A further half million dollar in VC money kept them afloat.

At the time of the Fortune Hunters taping, TeamsPages.com was on the verge of running out of money and needed another $1.5 million in funding to continue operations. Running a start up is never easy. Running one during a recession is even harder. Congrats to Mike on the coverage. Remember what I said about those sweater vests.


32 thoughts on “Hunting For A Fortune On Fortune Hunters”

  1. SEO Tips says:

    This series looks excellent, I watched Dragon’s Den because it was hosted in my home country this obviously looks like the same type of thing and I love these programs. Going to see if I can watch this online now.

    Thanks for this John 🙂
    Something to watch whilst at University without a TV

    1. Obtaining venture capital is one of the hardest things in a startup business – that’s for sure

      I’m currently in the process of doing the same – not an easy task by any means especially in a recession

      1. That just goes to show you how important communication is 🙂 Communication is the key people

        1. matutu says:

          Your so right..communication is the Key!

      2. Tushar says:

        For what site Taris?

    2. Tushar says:

      Thank god someone other then me watches Dragon’s Den. It’s nearly impossible to find people who like it anymore.

  2. SEO Tips says:

    One more thing I have to add is although Forex Hunters looks like a good series. I hate how they try and make you feel like “teampages” might not survive. I mean with that coverage alone they are going to grow rapidly

    Its not like having a problem with a real business (real being physical) where customers need to purchase products or services. Instead users just need to go on their site and give a little time where they will still be benefiting anyways. Great benefit for teampages I suppose.

  3. Mike B. says:

    Never heard of this before but looks good. 1.5 million is a lot to ask for in a recession but with the right business plan it is possible.

    @bookerx3

    1. Tushar says:

      I bet these guys sure wish they lived in Silicon Valley right now. They could probably find a lot more venture capitalists there.

      Unless they man in the video was from SV and they’ve already began courting them.

    2. matutu says:

      That’s true 1.5M is alot of money,especially during these tough times..But I will Tell you this,if you have a great Idea,You will always find unclesome to fund..I know a number of companies which are more than looking for great ideas to fund.These guys ideas proved great that’s why the got the funds in the first place.

  4. Cool show. Hope they get the money and users.

  5. Mike Tan says:

    Hey John!

    Thanks for mentioning TeamPages in your blog and for all the advice last time we met up. The show was a lot of fun to do and gave us some good exposure too. The phone has been ringing off the hook the past two weeks with leagues and clubs wanting to sign up. Some good news as well, we’re just closing another round of financing from some local angels and we just passed the 10,000 team mark. we’re on a pretty good roll right now, and just have to keep things up.

    Cheers,

    Mike
    CEO of TeamPages

    1. Mubin says:

      Hi Mike,

      How long is that 1.5 million going to last you?

      1. Mike Tan says:

        This should be the last round we need, as we’re getting pretty close to a cash flow positive position and should be there by the fall. If we do raise another round, it will be to really scale the business and take it for a million dollar business to a 10-20 million dollar business.

    2. Tushar says:

      Hey Mike,

      I would just like to say that I think you guys are doing an awesome job, and site like this seems like it can really go places.

      I hope you guys secure your funding. If you need a representative to secure teams down in the Atlantic, email me or something.

      1. Mike Tan says:

        Hey Tushar,

        Thanks for the awesome feedback. We’ve made some big strides with the product and our business model since the taping of the show about 5 months ago.

        We just secured our funding and will be putting out the press release early next week. We’re just in the process of launching a pretty aggressive referral program and could use all the help we can get spreading the word. Tushar, drop me a line sometime and let’s chat [email protected].

  6. Tushar says:

    Boston Pizza, eh?

    Dragon’s Den is where he should go then.

    1. Haha maybe we’ll try out for Dragon’s Den for the fall. We were going to do it last year, but had already raised a round of financing by the time auditions came around.

      Yeah, we’re still looking to try and partner up with a company like Boston Pizza. We feel there would be a great fit. Our hope is to partner up with a bigger company by the fall.

  7. Wow I love the design on that site.

    But I do wonder of the usefulness of something like that with the ubiquity of sites like facebook that allow that functionality. Just create a group.

    1. We got our site designed at 99designs.com. Great way to get awesome results at very affordable prices. We’re definitely going back to them for future design work.

      The main difference between us and facebook is that we’re kid friendly and focused specifically on sports. We provide teams with their own private network which they control, making it safe for kids and parents to be on. On sports side of things, we allow teams to post their scores, records, and stats, which allows us in the near future to organically build online athletic resumes for every athlete on our site.

  8. Pheak Tol says:

    cool show, i hope mike and his buddies is able to get the financial assistance they need and continue to grow and prosper.

    1. Pheak,

      Thanks for the kind wishes. We were able to get the funding we needed to keep going and it looks like we’re heading on the right track.

  9. Pahn says:

    wow,, this is inspiring… I am as well trying to start my own website company, this reminds me that I have been neglecting the assurance of user growth…

    thanks for sharing

  10. Nice spin on a popular idea…boy oh boy are these social sites sprouting up all over the place! I’m going to have to start one for people who’s names start with J, like me, Jeff.

  11. game-girl says:

    I think they will find the necessary sum,it is difficult to do but who really needs and seeks he will find.

  12. Dean Saliba says:

    I run a football team and I’ve been involve in football at grassroots level for about six years and these sites are sprouting up fast than MySpace & Facebook clones!

  13. This is so inspiring. Thanks for this great post

  14. Nice show.. I hope they get users

  15. That is a great site, we are currently on another site which is nothing compared Team Pages. I’ll have to mention it for them to switch after this season.

  16. There is always people with some great ideas for sites, I hope they get their fundings to continue their operations.

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