Larry Gaynor has spent more than 50 years building his successful career as an entrepreneur.
Now Gaynor, the CEO of TNG Worldwide, which manufactures and distributes more than 1,000 health and beauty products around the world, is offering potential new entrepreneurs in Michigan the opportunity to embark on the same journey.
TNG is sponsoring what Gaynor says is the biggest pitch competition in the country. TNG’s “Take a Chance” entrepreneurial pitch competition is aimed at E-pitches and is offering $251,000 in prizes.
The competition takes place in six categories, with each category carrying a $20,000 first prize and a $5,000 award to the runner-up. An additional $101,000 will go to an overall grand-prize winner.
“We want to create entrepreneurship in Michigan,” Gaynor said. “We need new businesses. Small business drives growth, small business drives employment, and it drives innovation and excitement. It’s my way of giving back to building and supporting entrepreneurs in Michigan.
Participants can enter in six categories:
- AI and Immersive Reality
- Entertainment, Media and Content
- Nutrition, Wellness and Healthcare
- Next-Generation Workforce Solutions
- Urban Innovation, Transportation and Sustainable Solutions
- Emerging Student-Led Venture
Gaynor said he’s hoping to attract 200-300 entrants, though he notes it won’t be an easy competition. Like they would in applying for a bank loan, entras must fill out an application and show they have what it takes to get in.
“People think free money is easy, but it’s not,” Gaynor said. “You don’t go into a bank and walk out with $100,000 without putting up a lot of collateral. In this competition, you have to fill out an application and qualify.
“You have to have a real business plan and a product or service to offer,” he added. “If you have a good pitch, and you’re confident and you’ve got the business plan and the idea – that’s what this is all about.”
Gaynor is putting all of his experience into this competition just a few months after publishing his book, “Take a Chance!: 101 Entrepreneurial Lessons for Making It Big.”
He decided to write the book while on vacation, and started writing in January 2023. By December it was available for pre-order on Amazon, where it’s a best-seller.
“I had just finished reading Stephen King’s fairy tale book — he’s one of my favorite authors — and I said, ‘I’m going to write a book.’” he said. “It’s 50-plus years about my life. I started working in Detroit in my grandfather’s hardware store, going from retail to being a wholesale distributor for beauty products to being a manufacturer of health and beauty care products. Along the way there are 101 life lessons that appeal to readers.”
For now his focus is on the pitch competition. Judges include Deanna Neeley, found and CEO of Detroit Voltage; Josh Linkner, entrepreneur and New York Times best-selling author; Danny Beckett, Jr., partner at Entrepreneur Venture; Jenny Feterovich, TV and film producer; Larry Brhnker Jr., president and CEO of Brinker; and Marcel Badia, founder and CEO of Preneurgrowth.
For more information on the competition or to submit an application, visit www.takeachance.biz. Deadline for applications is May 31. The Take a Chance Competition occurs Sept. 6 at the Gem Theater in Detroit.
