Meet James from Shameless Pets
Q: Can you introduce yourself and tell us about your startup, Shameless Pets?
A: Sure, I’m James Bello, based in Chicago. I founded Shameless Pets in 2017 after a career at Target’s headquarters in Minneapolis, where I worked in various roles, primarily in merchandising. The idea for Shameless Pets came from observing significant food waste issues in the grocery sector. We were bringing in a lot of food, only to throw much of it away. As a pet lover, I wanted to address this issue while combining my love for animals. So, I embarked on this journey to start my own business.
The core philosophy of Shameless Pets is to collaborate with farmers and food processors. We rescue nutritious ingredients for dogs and cats that were otherwise discarded. By developing supply chains, we keep these ingredients in the food system instead of letting them go to waste. We then transform them into healthy, functional treats for pets.
Since launching, we’ve adopted an omnichannel approach to distribute our products. We’re present in various brick-and-mortar retail stores and also sell online. This approach allows us to reach many customers, helping reduce food waste and providing healthy pet options.
Why Leap?
Q: What drove you to join the Leap Accelerator program?
A: We joined Leap in 2019, two years after starting Shameless Pets. Initially, we focused on developing our supply chain, which took about 18 months to fully commercialize. As we began introducing our brand to the market, it became clear that raising capital was essential for our growth. This realization led us to connect with the Leap team.
A two-pronged strategy drove our decision to join Leap. First, we were in the early stages of figuring out our brand’s messaging hierarchy and content strategy. Leap offered resources like Mars and RGA, which were instrumental in refining our branding and messaging in a professional manner that was beyond our reach at that early stage.
Secondly, from Mars’ perspective, we knew that fundraising was crucial. Having a large, strategic company like Mars conduct due diligence and expressed interest in our brand was a significant validator. Their endorsement served as a rubber stamp as we ventured into fundraising. This support from Mars and the expertise from Leap was pivotal in our fundraising efforts, proving to be extremely beneficial for the growth and development of Shameless Pets.
The Application Process
Q: Could you shed some light on the application process for Leap?
A: Keep in mind that the process might have evolved since we applied, as we were part of the second cohort. Initially, we submitted a presentation deck to Leap, outlining our vision and financial plan. Following this, we underwent three to four rounds of interviews. These interviews culminated in a final pitch, where we had the opportunity to present our business and vision directly to the Leap team.
After this rigorous process, we were thrilled to be selected for the program. Joining Leap was a significant step for us, marking the beginning of an important phase in the growth and development of Shameless Pets.
A Day in the Life at Leap Accelerator
Q: What was a typical day like for you in the Leap accelerator?
A: The days at Leap were a blend of in-person and online activities. A significant part of the experience involved connecting with other founders in our cohort. This networking was invaluable, as it allowed us to share struggles and learn how others were overcoming similar challenges.
Our days were structured and programmatic, featuring presentations from Mars, RGA, or Michelson Found Animals on various topics. These sessions were interactive and highly educational, offering us insights and knowledge that were crucial for our business. We also had time allocated to run our business operations, which was essential for maintaining momentum.
As the program progressed, our focus shifted towards preparing for the pitch day. This preparation was especially beneficial as it helped in crafting presentations for retailers and investors, shaping the way we communicated about Shameless Pets moving forward. The latter half of the program was geared towards this demo day, which also provided us with valuable content and strategies to utilize post-accelerator.
Leap’s Funding and Support
Q: Did Leap provide funding as part of your admission?
A: Yes, Leap provided our first significant investment, which was a huge validation of our vision and future direction. The program’s structure allowed them to invest based on the terms we were setting, which was a vital aspect of our early funding.
In addition to funding, Leap offered equity and a range of services. Post-graduation, they’ve excelled in maintaining connections with all founders, fostering a community that supports each other and provides access to Mars and RGA’s resources. This ongoing support is incredibly valuable, offering us expert advice and guidance whenever needed.
Q: Looking back, what aspects of the Leap program do you find most worthwhile?
A: Several aspects stand out. Firstly, the program significantly advanced our brand’s design and content. It effectively fast-forwarded our development by two to three years, giving us a professional brand architecture, website, and messaging hierarchy.
Secondly, the fundraising support was crucial. We gained market validation from a major player in the pet care industry, and a strong, cohesive brand story bolstered our fundraising efforts.
Lastly, the ongoing support post-graduation has been invaluable. Staying connected with the Mars, RGA, and Michelson Found Animals community continues to benefit us, especially when navigating challenging business situations. Their insights and support have been instrumental in our journey.
Overcoming Challenges in the Leap Accelerator
Q: During your time in the Leap program, did you encounter any significant challenges? How did you manage them?
A: Honestly, I can’t recall facing any massive challenges. The primary issue that comes to mind is time management. Balancing the effort to get Shameless Pets off the ground while dedicating sufficient time to develop our vision, strategy, and presentation decks was a tricky act.
However, Leap was mindful of this challenge. They structured the program to ensure we had enough time each day to focus on our business. Additionally, there were periods when we switched to online sessions, allowing us to concentrate more on the business. This approach helped mitigate the time management concern, and I didn’t feel like it adversely affected our business in any way. In fact, I believe this balance was well maintained for not just us but all the founders in the cohort.
Shameless Pets’ Current Status and Future Milestones
Q: Post-accelerator, what is the current status of Shameless Pets, and what achievements have you made?
A: Since completing the Leap program, Shameless Pets has experienced significant growth. We are now present in nearly 8,000 retail locations and have a strong online presence on platforms like Amazon and Chewy. Initially, we started with only four product SKUs (stock-keeping units). Now, we have expanded to 30 SKUs, including a variety of dog and cat treats.
From a funding perspective, we’ve successfully progressed beyond the initial investment to seed funding and then to a Series A round. This progression has laid a solid foundation for our brand, giving us national exposure and preparing us for the next stage of growth.
Q: What are your next targets, and how has the accelerator prepared you for these goals?
A: A key recent achievement for us was reaching profitability, which is crucial for our self-sufficiency and continued growth. Another milestone, about a year and a half ago, was expanding into cat treats. The accelerator was instrumental in this, particularly through the connections with the Mars team. Their insights into product formulations and consumer preferences were invaluable.
Looking ahead, we’re exploring expansion into the main meal category for both dogs and cats. We’re again leaning on the Mars team’s expertise to identify opportunities and strategize our product offerings and market entry. We aim to move into this category within the next 12 to 18 months, ensuring a thoughtful approach backed by the accelerator community.
Q: Have your experiences with the accelerator better equipped you for future plans?
A: Absolutely. I often advise others about the value of participating in an accelerator. The Leap program greatly elevated us, providing a strong support system. As we venture into new areas like the main meal category, having access to industry leaders and data-driven insights is a significant advantage. It’s up to us to develop and execute these plans, but the foundation set by the accelerator’s resources and knowledge is tremendously beneficial.
Advice for Prospective Accelerator Applicants
Q: Do you have any final advice for those considering applying to an accelerator, Leap or otherwise?
A: My primary advice is to connect with alumni. I didn’t have the opportunity to do this when we joined Leap as part of the second cohort, but I’ve seen its importance since then. Talking to alumni like myself can provide valuable insights for those considering joining an accelerator. It helps potential applicants to refine their goals and understand what they want to achieve through the accelerator.
Going into an accelerator with a clear idea of what you want to get out of it is far more beneficial than entering without a specific focus. Learning from the experiences of past participants can guide you in setting precise objectives. This approach allows you to tailor the accelerator experience to your business’s unique needs and goals, maximizing the benefits of the program.