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Morgan Lavoie

๐Ÿ‘ค Speaker
1050 total appearances

Appearances Over Time

Podcast Appearances

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

So you knew that you wanted to apply innovation and disruption to an old school business. And we actually did an episode about this on the show a couple of weeks ago because we've been seeing a lot of business media recently really glorifying some of those kind of more traditional businesses. Like there's a lot of reporting around is the plumber your millionaire next door type of thing.

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

So you knew that you wanted to apply innovation and disruption to an old school business. And we actually did an episode about this on the show a couple of weeks ago because we've been seeing a lot of business media recently really glorifying some of those kind of more traditional businesses. Like there's a lot of reporting around is the plumber your millionaire next door type of thing.

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

So you knew that you wanted to apply innovation and disruption to an old school business. And we actually did an episode about this on the show a couple of weeks ago because we've been seeing a lot of business media recently really glorifying some of those kind of more traditional businesses. Like there's a lot of reporting around is the plumber your millionaire next door type of thing.

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

But businesses like plumbing, pest control, laundromats. And I think part of the reason why there's this glorification happening in the media is because there's more PE activity around these types of businesses. So is this what you were seeing 11, almost 12 years ago that made you excited about an idea like Rinse?

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

But businesses like plumbing, pest control, laundromats. And I think part of the reason why there's this glorification happening in the media is because there's more PE activity around these types of businesses. So is this what you were seeing 11, almost 12 years ago that made you excited about an idea like Rinse?

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

But businesses like plumbing, pest control, laundromats. And I think part of the reason why there's this glorification happening in the media is because there's more PE activity around these types of businesses. So is this what you were seeing 11, almost 12 years ago that made you excited about an idea like Rinse?

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

I love that, that sort of check-in of, are you still excited about this? Are you still excited about this? And so you went through that process of saying, what am I good at? And then you mentioned another question you asked yourself, which is so important. And it's that question of like, is this something that's needed? Like, what do people need? And I think that...

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

I love that, that sort of check-in of, are you still excited about this? Are you still excited about this? And so you went through that process of saying, what am I good at? And then you mentioned another question you asked yourself, which is so important. And it's that question of like, is this something that's needed? Like, what do people need? And I think that...

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

I love that, that sort of check-in of, are you still excited about this? Are you still excited about this? And so you went through that process of saying, what am I good at? And then you mentioned another question you asked yourself, which is so important. And it's that question of like, is this something that's needed? Like, what do people need? And I think that...

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

That can be an easy trap for entrepreneurs to fall into. If they're just really excited about an idea, they feel like they want to do something, but actually testing whether or not something is needed, their ideal customer profile is somebody who actually needs this service. And so you did a test with 11 friends. Was there anything about that test that surprised you?

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

That can be an easy trap for entrepreneurs to fall into. If they're just really excited about an idea, they feel like they want to do something, but actually testing whether or not something is needed, their ideal customer profile is somebody who actually needs this service. And so you did a test with 11 friends. Was there anything about that test that surprised you?

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

That can be an easy trap for entrepreneurs to fall into. If they're just really excited about an idea, they feel like they want to do something, but actually testing whether or not something is needed, their ideal customer profile is somebody who actually needs this service. And so you did a test with 11 friends. Was there anything about that test that surprised you?

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

Yeah. Yeah. Debate debatably. One of the more important steps was rinse always called rinse, or was there another idea for the name of the business that you tossed around?

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

Yeah. Yeah. Debate debatably. One of the more important steps was rinse always called rinse, or was there another idea for the name of the business that you tossed around?

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

Yeah. Yeah. Debate debatably. One of the more important steps was rinse always called rinse, or was there another idea for the name of the business that you tossed around?

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

That makes so much sense. And I'm so glad that you did that. And I love that you brought up Lyft because I was wondering if this story would go like, we considered Rince with a Y, we considered Rince without an I, we considered Rince with no E at the end. So that's the origin story of, Fast forward 11, almost 12 years.

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

That makes so much sense. And I'm so glad that you did that. And I love that you brought up Lyft because I was wondering if this story would go like, we considered Rince with a Y, we considered Rince without an I, we considered Rince with no E at the end. So that's the origin story of, Fast forward 11, almost 12 years.

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

That makes so much sense. And I'm so glad that you did that. And I love that you brought up Lyft because I was wondering if this story would go like, we considered Rince with a Y, we considered Rince without an I, we considered Rince with no E at the end. So that's the origin story of, Fast forward 11, almost 12 years.

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

I'd love for you to sort of paint a picture for the listeners about what the service actually looks like. So I'm in a room where I can see my laundry hamper right now. I have a puppy. We went to the dog park today. We both came back muddy and disgusting. If I want to use rinse, can you tell me about the journey that my now muddy pair of jeans will go on?

Money Rehab with Nicole Lapin
Advice for Disrupting an Industry and Starting Your First Business with Ajay Prakash

I'd love for you to sort of paint a picture for the listeners about what the service actually looks like. So I'm in a room where I can see my laundry hamper right now. I have a puppy. We went to the dog park today. We both came back muddy and disgusting. If I want to use rinse, can you tell me about the journey that my now muddy pair of jeans will go on?