After Rejecting A Shark Tank Investment, She Raised $1 Million In 4 Hours Through THIS Crowdfunding 🚀 Strategy
November 7, 2022
If you’re a long-time fan of Shark Tank, you know the iconic line “and for those reasons, I’m out” when a Shark bows out of a potential deal. It’s rare however, that the entrepreneur seeking an investment actually turns down a Shark, but that’s exactly what today’s guest did. Kim Lewis is the CEO and co-founder of haircare brand CurlMix, appearing on Season 10 of Shark Tank with her co-founder and husband and ultimately rejecting Robert Herjavec’s offer of $400,000 for 20% of her business. Despite not landing a deal, CurlMix has since done $20 million in lifetime sales and successfully raised funds by leaning on their own community.
In today’s case study, Kim gives us the unique launch strategy behind her equity crowdfunding campaign that raised $1 million in 4 hours – and ultimately $4.5 million from 8,000 everyday investors, many of whom are CurlMix customers. Borrow Kim’s powerful approach to build momentum for your next launch.
Connect with Kim:
Favorite Takeaways From This Episode:
- Kim’s story of quitting her terrible previous job.
- “Your professional reputation matters.”
- How ‘Who Wants To Be A Millionaire’ funded her venture.
- Who is CurlMix for and how they are so zoned in on their target customer?
- Why she turned down an investment offer on Shark Tank?
- The reality of being a product business owner.
- What she used to launch her crowdfund and how she got the initial investments.
- You’ve got to launch a crowdfund just like you would a new product or service.
- “Luck is not a strategy.”
- What is the difference between crowdfunding and equity crowdfunding?
- How to pitch your story to journalists (+ even get the ones who initially said ‘no’ on board too).
- “Community is the center of everything.”
- If you don’t have a community, don’t crowdfund.
- What you need to get onto Shark Tank.
- “Being a CEO means you go first.”
⚡Lightning Round⚡
- What was your first concert?
- What is one important skill you believe every person should have?
- Do you believe in ghosts?
What Did You Think?
Did you enjoy this episode or the insight shared? Let us know on Instagram @cubicletoceo!
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