The story behind Squatty Potty is truly remarkable. Many of us remember Squatty Potty from Season 6 on Shark Tank when Bobby and his mother Judy appeared in front of the Sharks and pitched their pooping stool product which was met with some laughter. However the Sharks weren't laughing for long when they learned that Squatty Potty had already done $6 million in sales to go along with some very ambitious forecasts. Bobby and his mother ended up doing a deal with Lori Greiner at $350,000 for 10% equity and since Shark Tank the company has done over $40 million in sales with $27 million coming in 2016 alone.
In this episode I spoke with Bobby about the original product idea and his motivation behind starting Squatty Potty, how they were able to do $1 million in their first year of business and $6 million before getting onto SharkTank, why they got rejected from Shark Tank on their first attempt, why they setup manufacturing in China but moved those operations to Utah, why they spent $250,000 to create a pooping unicorn video and how that video has completely changed their business with more than 100 million views, what it's like to work with Lori and be one of these most successful Shark Tank companies ever, how and when they decided to go into retail stores, how they are doing over $1 million per month just on Amazon, what it's like to work for Squatty Potty, how he has grown this into a $27 million revenue business and of course what's next for the company in 2017.
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