Kim’s inspiration to launch a business came from an unlikely source: Her son’s Crocs. She thought the durable, washable material would make a great beach bag. So she designed one. But after investing her savings—inlcuding some of her kids’ college fund—Kim was crushed when her first major shipment of Bogg bags was defective. It knocked her so off balance, that she put the entire business on hold.
Then something unexpected happened.The few thousand customers who already had a bag….clamored for more. So Kim decided to start over. She borrowed $120,000, found another factory, shared trade show booths with four other founders, and slowly built Bogg Bag into a $100 million phenomenon.
What you'll learn:
- How getting nowhere with Crocs gave Kim the motivation to make Bogg Bag herself.
- Why her first $30,000 production run nearly killed the company.
- Why a founder isn’t always the best judge of her product
- How Superstorm Sandy gave new life to Bogg Bag
- How Kim built Bogg Bag for years while keeping her full-time job and raising two kids.
- How COVID turned Bogg Bag from a beach product into a “beach and beyond” product.
- How Kim got a massive acquisition offer–and why she turned it down.
- Why Kim thinks Bogg Bag can eventually become a billion-dollar brand.
Chapters:
- Growing up without financial security
- From high-school dropout to a six-figure career
- Reading “Mommy Millionaire” and dreaming of inventing something
- The Crocs-on-the-beach moment
- Kim hits a wall with Crocs, so she decides to make Bogg Bag herself
- The early prototypes and a nervous visit to a boutique: “I don’t know what this is, but I think I need it.”
- The first big shipment, a $30,000 defect, and a decision to pull the plug
- A massive natural disaster presents an opportunity
- “Now I gotta make this damn bag”
- A factory showdown in China
- Starting over with $120,000
- The trade-show “timeshare” in a tiny booth
- Finally quitting her day job
- COVID boosts the business
- The acquisition offer that could have changed everything
- Learning to lead a much bigger company
- The dream of a family legacy
This episode was produced by J.C. Howard, with music by Ramtin Arablouei.
Edited by Neva Grant, with research help from Sam Paulson.
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