How an aspiring entrepreneur fell in love with the state where her dreams came true
It’s been said that “necessity is the mother of invention.” Billie Asmus, a Wisconsin-born entrepreneur now residing (and thriving) in Iowa, can attest to the truth of that time-honored adage firsthand.
A winning combination of Billie’s natural ingenuity and support from her adopted home state propelled Billie to national acclaim – including a life-changing appearance on the hit TV show “Shark Tank.” But well before she swam with the “Sharks” and established herself as an entrepreneurial powerhouse, Billie took an unexpected life detour that set her path to success in motion.
The Spark of an Idea
After relocating to Iowa to be with her soon-to-be husband – a move Billie never thought she’d make as a proud Wisconsinite – her preconceived notions about Iowa melted away, replaced by a new world of opportunities she could only find in her new home state.
When she wasn’t doing marketing and communications work for the Asmus family farm, Billie poured her time and talent into Hive & Home Co., her first-ever business venture which specialized in refurbishing vintage furniture. Naturally, that role involved painting. A lot of painting.
Owning her first business was a dream come true, but Billie grew frustrated with the endless amount of plastic paint tray liners used in her day-to-day work. Not only was it wildly inefficient, she also knew these liners were destined to sit in a landfill after only one use. It was this frustration that sparked an idea that would alter the course of her life forever – while helping to create a greener future in the process.
Building the Foundation for a Sustainable Small Business
In 2022, Billie launched Repaint Studios, a company on a mission to revolutionize painting and home improvement. The idea was simple: Offer up reusable paint tray liners designed to significantly reduce the ecological impact of a painting project, all while saving time, effort and leftover paint.
With patents filed for the Repaint Tray, Billie still needed capital and support to get her idea fully off the ground. That’s where Iowa’s entrepreneurial ecosystem came in.
“When I started my company, we were presented with the opportunity to move back to Wisconsin near where I grew up, so I immediately started looking into entrepreneurship programs and resources and was surprised at how limited it was,” Billie said. “Selfishly, I didn’t want to give up what we had here in Iowa with the friendships we had developed, the community we had surrounded ourselves with and the entrepreneurship resources that I had access to.”
A loan from the Iowa Center for Economic Success gave Billie the initial infusion of capital necessary to jumpstart manufacturing. Business development mentorship from the NIACC John Pappajohn Entrepreneurial Center were also crucial in building the foundation that led to Billie’s success.
With new learnings in tow and a ton of support behind her, Billie entered statewide pitch competitions to generate additional capital and get the word out about Repaint Studios. A third-place victory in the 2022 Statewide Venture School Launch Day competition built buzz about Billie’s game changing invention, as did her Gold Ticket win during the 2023 Lowe’s Product Pitch event – a prize that cemented Billie’s first major retail partnership.
Representing Iowa Small Businesses Nationally
With initial Repaint Tray orders placed in December 2023, Billie and Repaint Studios were well on their way, thanks in large part to the resources, connections and capital Billie secured through Iowa’s entrepreneur-centric programs. In fact, after missing the top three of InnoVenture Iowa’s 2023 pitch competition, Billie re-entered in 2024 and took home the $100,000 grand prize.
As great as these early wins were, Billie wasn’t done pushing Repaint Studios to higher heights. With a bolt of courage and lessons gleaned from Iowa’s entrepreneurial community, Billie decided – almost on a whim – to audition for “Shark Tank,” her biggest pitch competition yet.
“It was totally spur of the moment. The business had kicked off, but finances were still a little tight,” Billie said. “I thought, ‘why not?’ I applied online, drove over four hours to Kansas City for a one-minute pitch, and, by fate, the casting director recognized me as ‘that paint tray lady.’”
Billie’s gamble paid off, as her presentation wowed the Sharks and landed her a $250,000 investment offer for 15% equity in Repaint Studios from Barbara Corcoran and Chip and Joanna Gaines.
Despite her now-national profile and universal acclaim for her eco-friendly invention, Billie can’t forget the state where it all started.
“Iowa has such a strong entrepreneurial spirit, and I wanted to show that big ideas can come from small towns,” Billie said. “Innovation can thrive here in the Midwest, and anything is possible when rural entrepreneurs have access to resources, mentorship, and the right people who believe in their ideas.”
Need some help getting your brilliant idea off the ground? You’re in the right place – Iowa’s entrepreneurial ecosystem is second to none. Get familiar with Iowa’s suite of resources for entrepreneurs.
