Stamford fire inspires kids to create 'Safety Guard'in' – a home safety business plan

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exp point safety garden_00002015

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Kids create home safety business plan 03:27

It was a stunning tragedy. Two grandparents and their three granddaughters die in a Christmas Day fire in Stamford, Connecticut. The home was under construction at the time and the smoke detectors weren't connected.

That event inspired four school children from another Connecticut town to create a business proposal they call the "Safety Guard'in" - a home inspection and online fire safety network which they entered into a contest for young entrepreneurs, sponsored by Warren Buffett.
These kid creators are now finalists in Buffet's "Grow Your Own Business Challenge", and are set to pitch their idea directly to the Oracle of Omaha two weeks from today.
Joining Soledad this morning is 11-year-olds Amanda Carter and Michael Wipf, Michael's 8-year-old sister Diana, Amanda's 7-year-old sister Lilly, and Amanda and Lilly's dad Kevin. They explain how they came up with the idea and the anticipation of presenting their business to Buffett.