Reinvented the Wheel and Built a $1M Company (Shark Tank Success Story) Pt. 2
发布时间 2021-06-09 17:00:06 来源
摘要
If you haven't seen Part 1, watch it here ► https://www.youtube.com/watch?v=ECabiC5TV64
Inventors are often told they don’t need to reinvent the wheel—but Shark Wheel did just that, and their innovative square shark wheels can now be found on everything from skateboards to duffle bags to pallet jacks, bringing in monthly revenue of more than $300K.
Shark Wheel started in 2013, based off an invention from founder David Patrick. Shark Wheels longboard wheels were their product and the one that landed them a spot on the season 6 finale of Shark Tank, which became the most-watched episode in the show’s history. We’ll talk about their experience with the Shark Tank episode, from writing Shark Tank pitches to how going on the show helped them grow their brand and business.
Along with selling directly to customers, Shark Wheel has signed deals to make luggage and duffle bags for groups like the U.S. military and pro sports leagues like the NFL, MLB, NBA, NHL, and PGA. We’ll find out how they secured these details and how that’s influenced their revenue growth.
Shark Wheel’s newest venture is making wheels for farming equipment and they’ve been awarded 3 government grants to do so. Today, they’ll share tips for securing these kinds of grants and how they adapted their invention to expand into new markets.
Any inventor looking to commercialize their invention will learn tons of helpful information from hearing about Shark Wheel’s path to success (especially if you’ve seen the Shark Tank full episode and are curious what they’ve been up to after the show).
Resources:
https://bit.ly/4fzRByu - Start or Grow Your Business with UpFlip Academy
https://sharkwheel.com - Find Out More About David's Shark Wheel Business
Timestamps:
0:00 Intro
0:53 Invention and Idea Validation
2:12 Steps To Inventing Ideas
3:15 The Kickstarter Funding Experience
4:23 Blitz
6:25 The Art of Failure
7:55 Handling Challenges
9:43 Licensing (Military, Olympics, NFL, NBA, MLB, NHL)
10:57 Team Building
13:18 Outro
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