Client profile: Imspired
Steve Chapman worked in an office for more than 20 years and decided to try and find a cleaner and more eco-friendly way of leaving quick notes. He came up with a pyramid-shaped whiteboard and spent a couple of years developing his prototype and securing the intellectual property on it. Phase 2 of the prototype won an award for Best New Desk Accessory in 2012 and he formed a relationship with the World Land Trust, a conservation charity whose patrons are Sir David Attenborough, David Gower OBE and Chris Packham. A percentage of sales is donated to their rainforest conservation work.
Steve has spent around £90,000 getting his business to the stage of promotion. Although he approached the banks for funding in 2013 they would only lend money on confirmed orders and at that point the product wasn’t ready and therefore no orders had been made.
Steve approached pensionledfunding.com and with the help of his intellectual property was able to use money from his pension to put into his business. Funding has been used by Steve to order Imspired’s first batch of stock.
The next step for the business is to generate awareness of the product. Steve has had to run the business while working full time and is hoping to get Imspired to the stage when he can become his own boss.