The stage was set. The lights were bright. The cameras ready.
The panel of Lowe’s executives was feeling the gravity of the moment as they settled in for the shooting of Making It … with Lowe’s at the company’s on-campus television studio this past fall.
“What started as an idea to bring new suppliers to Lowe's,” said Bill Boltz, executive vice president, merchandising, “became something on steroids.”
You can only imagine how the aspiring entrepreneurs must have felt as they readied to make their pitch.
“This is not easy pitching your products to Lowe's executives,” said Joe McFarland, executive vice president, stores. “I mean, this [is a] national home improvement chain that you're trying to get your products in.”
Kim Huber, entrepreneur behind the Python Plumber, can attest.
“Knowing that I had one chance to present in front of executives felt so intimidating,” she said. “But honestly, they were so great and easy to speak with, even laughing with them.”
Once the executives and entrepreneurs got rolling, the program hosted by Daymond John of ABC’s Shark Tank took on a life of its own. And it confirmed for everyone involved that they were taking part in something special.
“I have to say, just hearing these entrepreneurs share their stories and seeing their excitement about being part of this program, it's just brought this to life in such a real way,” said Marisa Thalberg, executive vice president, chief brand and marketing officer. “As a company that started as a small business nearly a century ago, we feel a strong sense of commitment to help lift up relevant businesses that are first emerging now across the country. We wanted to create a program to give diverse entrepreneurs in particular a much-deserved chance to shine, while uncovering unique, smart products that would make Lowe’s even more appealing to customers. We want our products to be as diverse and interesting as the customers we serve.”
After receiving more than 1,300 submissions, Lowe’s evaluated more than 400 new products, the executive panel listened to pitches from eight diverse finalists, offering valuable feedback and support. Lowe’s continues to evaluate more than 400 new products for future space online or in-store.
“Everybody's a winner – that's the thing that I think is most important,” said president and chief executive officer Marvin R. Ellison said.
After hearing the top eight entrepreneurs make their pitches, Ellison shared his excitement: “Every [one of the top 8 products] is going to end up on lowes.com, and some on our shelves. We're going to give grants and marketing mentorship to [all top eight entrepreneurs], so this is a win-win process.”
This has educated us that we need to do a better job of throwing a broader net out there to pull in more ideas, more unique skills from local entrepreneurs.
Lowe’s, a champion of supplier diversity, is a winner in this as well.
“We need to increase the number of diverse suppliers that get to do business with Lowe's,” said Janice Dupré, executive vice president, human resources. “When you're a small business, to have access to a big brand like Lowe’s can feel overwhelming. Many wonder, ‘How do I mass produce? How do I really, really get my product to differentiate from others when they have so much access to such great products?’ We actually did that today. We're going to give these folks an opportunity to separate themselves from the pack.
“And that's what diversity is about. It's about giving people an opportunity to show up, be seen and heard. I'm incredibly proud of what we've done and incredibly proud to have met every single one of these contestants.”
Considering the success of season one of Making It…with Lowe’s, Ellison is already looking forward to future plans to further increase supplier diversity and bring more amazing products to customers, with a second season already in the works.
“It teaches us that there are great ideas out there that even a company as large as Lowe’s – we didn’t know about,” Ellison said. “Just stay tuned, because this has educated us that we need to do a better job of throwing a broader net out there to pull in more ideas, more unique skills from local entrepreneurs. We see this as the beginning of a much larger process going forward.”