Success Is The Best Revenge
by Kim Lavine
The CROCS Founders were told "No" by every Venture Capitalist they asked for money from. They raised $6 million from friends and family then turned it into a $1 Billion IPO in 5 years.
Everything Begins With a Dream
Dreamers are by definition a little crazy. It takes a dreamer to come up with something new or better that will revolutionize the marketplace and make millions. It takes a relentless sales and marketing person to make the dream come true. This isn't rocket science. Anyone can do it--if they believe in themselves. For proof, all you have to do is look at PET ROCKS, or for that matter, CROCS.
"Everything begins with a search for something better--a dream, an idea, the courage to face a challenge, and the passion to get it done.
You can do it.
Believe in yourself.
Change the rules.
Join the revolution."
From MOMMY MILLIONAIRE, by Kim Lavine
One of the Craziest Dreams Ever
One of the craziest dreams ever turned out to make its founding dreamers rich, turning it into a billion dollar IPO (Initial Public Offering) in record time--faster than most of those famous internet start-ups we hear about all the time. They did this despite the product being ugly, mocked, with limited demonstrated success--and after being told they would fail by some of the "smartest money" in the country.
Crocs journey began in 2002 in a Canadian plastics company, when a Crocs founder discovered a version of the funny-looking shoes being used in day spas. In 2003, the founders of Crocs, after seeing initial success selling their unique and admittedly ugly shoes at boat shows and after being rejected by venture capitalists in their attempts to raise start-up capital to take their idea big time, raised $5.2 million dollars from friends to fund their company!
Dream Huge
The first thing they did with that money was to buy up its suppliers and manufacturers of the unique resin that Croc shoes are made of, called Croslite. This same supplier also owned the design patent on the resin. Crocs began selling first to small shoe stores, then went into national distribution at Nordstrom and Dillards. To meet the need, Crocs founders employed contract manufacturers in China, Italy and Romania. In 2006, Crocs expanded overseas from Singapore to Austria.
Think Huge
The people who founded Crocs had serious business backgrounds, including a President at a national branding company, an exec at a national sandwich chain, a hardware sales executive and a President of an electronics manufacturer. With a motto of "Think Huge" and after selling only 1,000s of pairs in 2002, they pooled extraordinary management talents to write a business plan that raised them $5 million for launch from friends and business associates alone. In Feb of 2006, Crocs raised an additional $239 million in the largest footwear IPO (Initial Public Offering) ever, valuing their market share at $1.09 billion
Make Huge Money
Yes, there are competitors nipping on their heals now, no doubt with some slightly different resin formulation for their shoes on which their patent is based, but they are the innovators with all of the market share and they have the resources to keep their competitors at a permanent disadvantage
"The voices of the world will drown out the voices of God and your intuition if you let it. And most people are directed by voices outside themselves." Oprah
The Idea is only 5%
The other 95% is sales and marketing. Having a great idea is one thing, making it happen is another thing. You don't have to be Steve Jobs or Bill Gates to become a billionaire, but you do have to have a dream.
"Money is just the machine that makes ideas work. The person and their passion is the commodity worth millions." Kim Lavine from MOMMY MILLIONAIRE
The truth is, there a million consumer products--like Crocs--waiting to be brought to the marketplace; and nobody understands what that marketplace needs more, than the ultimate consumers: women. You don’t have to reinvent the wheel. Everyone is always looking for something “Hot & New.” To become a billionaire, sometimes it's just as simple as putting a new twist on something as simple as a pair of shoes--if you believe in your dream.
Do You Have a Million Dollar Idea?
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