"Most people think it's all about the idea. It's not. Everyone has ideas. The hard part is doing the homework to know if the idea could work in an industry, then doing the preparation to be able to execute on the idea." -Mark Cuban, Shark Tank
Last week we had the unique opportunity to compete in REV - Ignite Your Business sponsored by First National Bank and Trust in Clinton. REV is a pitch competition that allows for local small businesses and entrepreneurs to pitch a business idea to a panel of local judges. We approached it like we were going on the show Shark Tank and pitched the purchase of a delivery truck for our farm.
As our business has grown, we have out grown our current delivery capacity for our truck and trailer, especially for our fall mum deliveries. In our pitch, we provided the judges with a cost benefit analysis of how a delivery truck would decrease our transportation costs and better equip us to meet demand for our delivery routes. A delivery truck also allows for us to be more efficient in planning our delivery routes, decrease additional labor costs associated with multiple deliveries, and decrease our carbon footprint.
So that's what we pitched. The bank decided to split the $10,000 prize among three businesses and we were selected as one of those businesses!
We are truly grateful to have participated in this opportunity and we want to thank First National Bank and Trust for offering this unique funding opportunity for businesses in our community!
Your Farmers, Mariah & Greg Anderson
First National Bank Gives Away $10,000 to Local Businesses
Published: October 17, 2017 Published in: Press Release Clinton, IL October 17, 2017 - First National Bank & Trust Company is proud to announce $10,000 was distributed to three local businesses on Friday, Oct. 13 at the result of their REV event.
First National Bank & Trust Company hosted REV - a small business pitch competition - as a way to reinvest in local small businesses and entrepreneurs. With $10,000 at stake, applicants to REV were given 10 minutes to pitch their business ideas, with five minutes for questions from a panel of four judges. Judges included; Josh Shofner, Market President of First National Bank & Trust Co., Rachel Costello, VP of Personal Banking at First National Bank, Marian Brisard, Director of the Clinton Chamber of Commerce, and David Torbert, President of DeWitt County Development Council.
Three businesses received funds from the event. Those businesses include; The Buttered Bun, Triple M Farms, and Dial Farms. The most substantial sum went to Buttered Bun, who won $5,000 to go toward a new commercial stove.
“We are honored, humbled and extremely grateful to have been selected to receive the REV monetary award," said Lauren Johnson, owner of The Buttered Bun. "First National Bank is community driven and we are lucky to have their never-ending support. We also thank the Clinton Chamber of Commerce, as they have been a huge part of the community, constantly contributing to the growth of many small (and big) businesses," said Johnson. "We cannot wait to see what the future holds for our small-town bakery; we promise to continue to pour our heart and soul into what we do!”
Triple M Farms received $3,000 to help put a down-payment on a delivery truck.
“We truly appreciate First National Bank and Trust providing this unique funding opportunity for small businesses in our community," said Mariah Anderson, who works alongside her husband Greg Anderson as owners of Triple M Farms. "First National Bank's commitment to supporting local is vital to the growth and success of small businesses in our community, and the additional funding allows for us to expand our efforts further in providing a local source of plants and fresh produce to our community and surrounding counties.”
Dials Farms received $2,000, which Mason Dial, owner, says will add additional livestock to his operation, allowing his business to grow."As a young beginning farmer branching off from my family farm, I was excited for the opportunity to pitch my small business for First National Bank’s REV," said Dial."I was even more excited to hear that I was chosen as one of the winners, and am thankful for First National Bank’s generosity, and I plan to use the money to add livestock to my operation which will allow my business to grow and have a faster return on my assets."
About First National Bank: First National Bank & Trust Company is a community bank located in Clinton, Illinois. Dedicated to community prosperity, the bank was chartered in 1872 under the name DeWitt County National Bank. The name was changed First National Bank and Trust Company in 1974, and was recently acquired by TS Banking Group in 2017. With $125 million in assets, First National Bank is dedicated to community reinvestment and gives 10% of its net income back to the community. For more information visit firstnbtc.com.