Ever have a great idea you know will make money? An idea that has the potential to grow into something really, really big? What do you do then? Mary Kay Ash, the founder of Mary Kay Cosmetics, said this: “Ideas are a dime a dozen. People who implement them are priceless.”
Teresa Denham took her idea and ran with with it. I met Teresa Denham several years ago. I was hosting a lifestyle TV show at the time and her story caught our attention. She had created gloves with pompoms sewn onto the ends of the fingers as an inexpensive way to show team spirit. She turned that invention into a million-dollar business.
What you’ll learn in this episode:
*How a self-proclaimed non-crafter created a piece of popular fanwear
*The process Teresa used to determine whether people would be interested in buying her product
*Why Teresa says timing played a huge role in her company’s success
*The entrepreneurial habits she picked up as a kid that helped her in business as an adult
*What Teresa did to get major media coverage (with zero dollars spent)
*How Teresa broke into college sports licensing, why she says that was a game changer for her business, and how you can do the same thing
*Why she turned down a high-profile 15,000 item order and how it eventually helped her business
*Teresa’s current marketing strategy and why it works every single time
Links mentioned in the show:
To purchase SpiritFingerz, goto SpiritFingerz.com. SpiritFingerz are available on Amazon in the US, Canada, and by the middle of 2016, in Europe. You can find SpiritFingerz on Facebook, Twitter, and Instagram.
Teresa mentioned local licensing, which is issued on a state-wide basis. If you have a product, Teresa suggests you start locally and gauge interest. She says to start with this website and apply for a license here.