Angus Pauley Interviews Tim Oliver from Investamatch on his mission of connecting investors and entrepreneurs at scale.
InvestaMatch helps businesses to achieve their goals by allowing them to promote their need to ‘Investors’ who have the resources to help, whether those resources are money, advice or key industry knowledge and relationships. When businesses are looking to grow, diversify or if they are looking to sell up immediately or over a period of succession, InvestaMatch promotes the need of the business with their membership of Investors on the InvestaMatch platform. If an Investor wants to know more about the opportunity, the Investor initiates contact with the business.
What were you doing before Investamatch?
I was and still am a mortgage and insurance advisor. I've got my own business in Dunedin, First Mortgages NZ and Oliver Financial Planning Ltd. And so, we help first home buyers to get lending from the banks and sort out their Kiwisaver so that's the deposits and the home start grants, and help people to go through the process of buying and house, and life and health and covering mortgage protection covers.
Was there a particular a-ha moment in which you came up with the idea for InvestaMatch?
The idea that was actually presented to me by Sarah at Immersion who was doing work for the co-owners. They asked to me to come on board to be the face of the business and to be the business development manager.
Who's part of the InvestaMatch team?
Sarah, myself and also Nathan. They're more the marketing department. We've got our legal advice as well. I've also got an admin person help me on the occasion as well. It's really kind of four people directly involved.
If you could recruit anyone to the InvestaMatch team tomorrow, who would you choose?
I'm interested in Nadia Lim, she's got good experience and good profile. She's a young person, people know her and I think there's probably a level of trust that's associated with New Zealand businesses, New Zealand startups.
I feel like she's been there, done that and I quite like her as a business person. What they've done; she knows how to push something to succeed and how to innovate. We're talking about a whole industry; she's changing the way people eat and how people shop. I just really like the general feeling of what they're doing and I suppose the entrepreneurship of their concept with how they've gone about it.
Tell us about your FoundX Startup Showcase experience?
Foundx was put in front of me by Sarah and I did some of my own research online. Startup Dunedin has come up with a great concept in the showcase. It puts the guys who have the experience and the cash, and the know-how, directly in front of everyone which is perfect.
That's what Investamatch is looking to do, just on a much bigger scale. We'll be using Foundx as a spring board and using our contacts from then, over the next few weeks.
Plus Dean Hall was really good. It's probably crucial for ongoing events to have someone that is open and candid and quite a likeable type of person to get up and speak. Dean demystified what he really does; there's no magic about it, he makes video games. Makes video games that, people like to play. The growth of Rocketwerkz and the story behind it was great.
How do people currently solve the problem that InvestaMatch solves?
Crowdfunding or they put the opportunity onto TradeMe, at least in a business selling type of scenario. Then there's word of mouth, through advisors, accountants, lawyers or investment guys; any kind of business and buyers might have a ... database of clients that are looking to invest or have opportunities to invest with. It's quite an insular type of scenario.
What's the toughest part of building a digital product?
Just the cost of getting it up and running.
I'm a relationships guy. I can talk to people, get an understanding, help them with their problems. Not knowing the ins and out of the tech...it's frustrating but I mean that's not for everyone. So yeah, probably comes back to the cost of getting things set up and doing it properly. But if you want to, anything worth doing is worth doing properly. It's not really begrudging it but it's just one of those things you need to do before you see any cash coming in.
What advice would you give a startup getting involved in an area that can have tricky legislation?
Get good advice. Get good advice and take good advice.
Understand where your value is within that industry. That could change, the more you learn about the industry, the more that you understand the industry, the more you'll be able to recognize where the opportunities are. It's just about finding where your value is and being able to innovate to solve those problems and to be able give more value in that industry.
Do you have any odd habits?
I'm a very, very early riser. People ask me what time I get up and I tell 'em I'm up at 4:00am. I get sideways looks and gasps at that, incredulity, disbelief.
Maybe my girlfriend might tell you something different but I couldn't; that would be the worst or the strangest one.
If you could put anything on a billboard that would be seen by millions of people what would you choose?
It's all about being grateful. Just be grateful for what you have. Just be grateful for your family, be grateful for your friends, and be grateful for your health. I wake up every morning and just make sure I give thanks for the people around me and what I've got in my life. If you're grateful then that goes up, outwards and if you can project gratitude, then you're gonna get it back.