Mod Mom discovered what confidence in her abilities as well as her product can do when you need to find investors. They will come out of the woodwork! They found out she was going on Shark Tank and all of a sudden everybody wanted a part of the action.
She does a great job of telling her story; in fact, everything starts with a story if you read her blog. A great read I must say. That is what captivates people and causes them to want to be a part of what you’re doing. Ironically the numbers are less important, especially when you’re doing the pitch.
Mod Mom is building a brand through her story. Sure, there are tons of woodworker artists out there that can build a toy box, but they don’t have the emotional buy in that Mod Mom furniture creates.
Mod Mom is extremely confident and shows no fear, which is key trait that investors look for. She is willing to do anything and with a smile and she doesn’t get down, she deals with the cards that are dealt and she knows how to solve problems.
She demonstrated a characteristic that every successful entrepreneur has. If something doesn’t work, they look for solutions and won’t stop until they find it. Entrepreneurs who don’t succeed are looking for someone to fix their problem for them.
A great deal creates a win-win for both the investor and the entrepreneur. Kevin’s offer asking her to pay a royalty was not a good deal. It was a greedy deal that was not smart on his part. In this case, the idea that he would be paid a royalty is something that would burn in the mind of the entrepreneur.
Congratulations to Mod Mom on making a great deal and all the success that’s coming your way. Keep telling your story and you’re going to go far.
I do have a suggestion for Mod Mom and a recommendation for all other entrepreneurs as well. It seems that quite a few of the entrepreneurs are using blog spot to tell their story. You would be far better off with a WordPress blog hosted on your own web space. Look around this site and you’ll see the power of WordPress blogs.
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