ThinkLite LLC
Company Name: ThinkLite LLC
Mission: “We are dedicated to helping you save the environment while saving money.”
The Start: February 2009; door to door residential sales
Where: Worcester and Wellesley Hills
Your Contact Info: 617 888 3880 (dinesh@rethinkrelite.com)
Employees: 9 employees in total. All of them are strictly for sales and are paid on percentage commission. Most of them are students; 2 of them are MBAs.
Founder’s Past:
Dinesh Wadhwani
Indian by origin, born and raised in Ghana, Western Africa, Dinesh has been an aggressive serial entrepreneur since he started his first software and web design company at the age of fourteen. He possesses several experiences in start ups, managing resources, teams, financial planning and quantitative analysis. He currently owns and runs one of the fastest growing software and Web Design Company, Wadhsoft Inc., in Accra, Ghana. He is also the founder of a non-profit company called The Global Entrepreneurship Resource Institute, which specializes in providing universities, entrepreneurship societies, and student entrepreneurs with centralized and comprehensive system of tools and networking capabilities. Dinesh serves on the board of directors for DanDin Realty Services; a Boston based Real Estate Company. He has also created a revolutionary casino game as well as an Indian TV reality show, both to be launched soon.
Candidate of Bachelors of Science in Business Administration, Finance; Entrepreneurship
Babson College, Class of 2012
Enrico Palmerino
His background in Chemistry and Physics led to his passion for efficiency and self sustainability. It was this passion, coupled by several years of research and analysis of world energy consumption that set the foundation for creating ThinkLite. Apart from lighting, Enrico has a credible background in landscape design and product development. A born entrepreneur, at age 13 he started his first company which dealt with the placement and maintenance of vending machines. To this day, his years of experience in startups and growing businesses have led to his personal incorporation of three companies and his managing and advisory positions with several others. With his last two years dedicated entirely on ThinkLite, Enrico’s expertise in light analysis, efficiency, and aesthetics have contributed to the company’s installation of several thousand lights and over $100,000.000 in reduced energy consumption.
Education:
Candidate of Bachelors of Science in Business Administration, Entrepreneurship; Quantitative Analysis
Babson College, Class of 2011
How The Idea Began: We saw an online advertisement of GE modern efficient lights that were 80% more efficient and sold at $30 each. The lights were extremely valuable products; however, only a tiny fraction saw their value and were willing to pay for these products. Additionally, it was not the easiest task to find the right specifications of bulbs for given applications, causing people to consider efficient lighting as “poor quality” lighting.
We then figured that we shall solve this problem by providing the ThinkLite solution, which will provide an in depth analysis with 3d mockups, installation by certified electricians, guarantees and recycling of old products; all at no upfront costs. Aesthetic appeal is guaranteed as well, and a percentage of the savings earned for the customer is collected for a fixed period of time.
Favorite Thing about the Business: Sharing savings with customers (or receiving revenues) for extended periods of time after installation.
Worst Thing About The Business: At times, customers are skeptical about the model working without even trying us out despite guaranteeing the products and savings.
Lesson Learned:
It is important to underpromise and overdeliver. Customers are thrilled when savings turn out to be higher than expected!