APPLEBAUM DARE TO DREAM IMPACT STORY YourCheck: Backgrounds You Can Trust Adam Smiddy, MBA ’20, Howell, MI; Michael Skowronski, MBA ’20, Chicago, IL; Toni Suh, JD ’20, Toronto, CA
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ourCheck, Inc. allows anyone to obtain their own background check and a Trusty score, indicating the individuals’ trustworthiness based on the company’s unique algorithm. YourCheck, Inc.’s mission is to become the “Credit Karma” of background checks. This venture received Phase I and Phase II funding as part of the Dare to Dream program offered at the University of Michigan Ross School of Business during the 2019-20 Academic Year.
How It Began
Originally the idea was to try and provide background checks for private gun sales, which was a problem I (Adam) encountered while in the military. Stationed in Tennessee, I owned a gun I no longer wanted. I posted the item on a forum and subsequently met a man at a gas station and sold him the weapon. While this was a legal gun sale, commonly known as the gun-show loophole, I didn’t feel comfortable with the sale afterward. At Ross, I pushed forward with customer discovery and market research to see if it was viable to provide a service of background checks. I found that consumers were facing problems related to my initial thesis. People were using workarounds to verify information on people in their lives while gig workers were having problems with platform complaints and needed a way to differentiate themselves. Our service is fulfilling the needs of both cases with essentially the same technology development cycle.
Why We’re Passionate About It
As consumers, we are at a crossroads in terms of our confidence. We rely on the internet more for services like dating, home repairs, child care, and finding roommates. Meanwhile, we are trusting each other less because the internet has enabled anonymity and likewise, crime.
The Applebaum Dare To Dream Impact Applebaum Dare to Dream was a psychological boost as well as a practical boost. Getting your MBA is not easy, so having the encouragement behind you and people to talk to is very helpful. The ZLI staff was great and really took the time to listen, provide encouragement, and give great feedback. As a result of the countless conversations that were the direct result of Applebaum Dare to Dream, we were able to really focus in on what the future of our company would be.
Updates
Since Applebaum Dare to Dream, we have been accepted into the Desai Accelerator at the University of Michigan. We have also
secured suppliers and partnerships for our initial product offering. The funding granted by the Applebaum Dare to Dream program has allowed us to fully bootstrap our development process and enable us to launch our product.
Advice
The biggest piece of advice I give is to just talk it out. Speak about your idea to anyone that will listen and do as many customer interviews as possible. You will discover a variety of facts that allow you to avoid assumptions and pitfalls during product development. For example, we encountered a very abstract problem from customer interviews, and talking it through with the ZLI staff we stumbled onto something we think will guide our company for years to come.
Thank You!
I’m thankful! The support you provide to the entrepreneurial community is essential to the success of ours and many others’ success. Our team was always excited to know we were accepted into the program because we knew we weren’t alone. Your generous gifts have propelled our company and many others, and I hope we are able to pay it forward in the future. The Applebaum Dare to Dream program was made possible by generous support from the Eugene Applebaum Family Foundation. Offered through Michigan Ross’ Zell Lurie Institute of Entrepreneurial Studies, this program helps undergraduate and graduate students develop a business idea from the ground up by offering business development workshops and awarding grants of $300 to $5,000.