This SaaS Tool Aims to Change the Construction Industry | Elevator Pitch S12 EP7 - video Dailymotion

Entrepreneur

Khalid David, founder of TracFlo, an online platform that provides a central location to input, track and approve changes to project costs for subcontractors, general contractors, designers and owners  Welcome to another episode of Entrepreneur Elevator Pitch, the show where entrepreneurs looking to uplift their lives must prove to our elite panel of investors that they have what it takes in 60 seconds or less.  As many of our contestants learn, getting your pitch out in time is no easy task — but sealing a deal can be even harder. Our board of investors comes at them with all kinds of questions, digging into their costs, marketing strategies and sales traction (or lack thereof). On this show, you have to know your numbers — and be able to think fast — if you want to make it out with a life-changing deal.

Transcript

00:00Welcome to the elevator.

00:02Hi, I'm Khalid David,

00:04founder and CEO of TrackFlow.

00:06Have you ever done a kitchen or bathroom renovation?

00:08Let me guess, start at one price, end up another?

00:11At TrackFlow, we created an AI tool that allows

00:14contractors to track and manage project costs in real time,

00:18saving them time and money.

00:20We're here asking for 250K on

00:23a $10 million note to bring

00:25our technology to a more diverse construction workforce.

00:28It was a great pitch.

00:30Great pitch?

00:30He basically nailed the pitch.

00:32One of the things that's really interesting right now is

00:33so many people are redoing their house.

00:36It's always going over.

00:37He's right. I can empathize with this problem and never on budget.

00:41But is this a product for the contractor or for the consumer?

00:45All I know is I heard the buzzword of artificial intelligence.

00:51Usually, my motto is,

00:54you either get my money or you get my time.

00:56But if I put my money in,

00:58you don't know what to do with it.

01:00So you're going to need my time.

01:02If I'm going to do that,

01:04I am not going to do it for 250 on a $10 million note.

01:08Okay.

01:08If I was going to work with you,

01:10I would do 250,

01:12but it's going to be on a $5 million cap.

01:15Problem is I'm not going to put the money in unless I can help

01:18you grow and scale and go from

01:21150 to a million and a half next year.

01:25Okay. Let me, I'm a little conflicted.

01:33No, no, I'm not conflicted because I'm with it.

01:37I think that Khalid,

01:42he's offering you some money.

01:44Yes.

01:44He's offering you his advisory.

01:45Just say yes.

01:46Yes. Thank you so much, man.

This SaaS Tool Aims to Change the Construction Industry | Elevator Pitch S12 EP7

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