Newsletter: How thinking about taking a Dump Differently led to a Multi-Million Dollar Business

This is the New Money Talks Newsletter, packed with entrepreneurs’ personal stories, real estate investing, financial tips, and more! All in three sections!

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In this edition of our newsletter, We talk about a company that turned a weird idea into a multimillion-dollar business.

The Founding Story of Squatty Potty

The Squatty Potty started its journey in 2011 when Bobby Edwards' mother, Judy, experienced severe constipation. Traditional treatments were ineffective, leading her to try a footstool to elevate her feet while using the bathroom. This simple solution improved her condition dramatically.

Recognizing the potential, Bobby and his father, Bill, designed a prototype and named it the "Squatty Potty". They initially sold their product online, targeting individuals with similar health issues.

Shark Tank and the Big Break

The real turning point came when they appeared on Shark Tank in 2014. Their innovative product and authentic storytelling stole the show, earning them a $350,000 investment from Lori Greiner. Post-Shark Tank, Squatty Potty's sales soared to over $30 million, making it one of the most successful companies to emerge from the show.

What Can We Learn from Squatty Potty's Success?

There are several lessons to glean from Squatty Potty's journey.

1. Spotting Opportunities: The Edwards family turned a personal problem into a business opportunity. They saw a gap in the market and filled it with a solution that became Squatty Potty.

2. Embracing Uniqueness: They didn't shy away from their product's unconventional nature. Instead, they used humor and authenticity to promote it, which resonated with their audience.

3. Leveraging Exposure: Their appearance on Shark Tank was a strategic move to gain exposure. They prepared well and presented their product convincingly, leading to a significant investment and a massive boost in sales.

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