From Scrappy Entrepreneur to Shark Tank Success
Scott Jordan, the founder and CEO of Scottevest, is a name that has become synonymous with innovative and functional clothing. His company, which started as a small venture in 2001, has grown exponentially over the years, thanks in part to his appearance on the popular TV show Shark Tank. But what makes Scott Jordan’s success story so compelling? Let’s dive deeper and find out.
The Early Days of Scottevest
Scott Jordan’s entrepreneurial journey began when he was a law student at the University of Oregon. He was an avid traveler and realized that there was a gap in the market for clothing that was both stylish and functional. He started designing and creating his own clothing items, such as the famous TEC (Technology Enabled Clothing) jacket, which featured built-in pockets and compartments for storing gadgets and other essentials.
Initially, Jordan faced significant challenges in getting his business off the ground. He bootstrapped the company, pouring his own savings into the venture, and worked tirelessly to develop a product line that would appeal to the masses. Despite the setbacks, Jordan persevered, driven by his passion for innovation and problem-solving.
The Shark Tank Experience
In 2012, Jordan appeared on Season 4 of Shark Tank, seeking an investment of $500,000 in exchange for 10% equity. He pitched his product line to the Sharks, showcasing the unique features of his clothing items, including the iconic TEC jacket.
The Sharks were impressed by Jordan’s enthusiasm and the potential of his products. Robert Herjavec, in particular, saw the value in Scottevest and offered Jordan a deal of $500,000 for 15% equity. Jordan accepted the offer, and the investment helped take Scottevest to the next level.
Post-Shark Tank Success
The exposure on Shark Tank was a game-changer for Scottevest. The company experienced a significant surge in sales, with revenue increasing by over 300% in the first year after the show. Jordan was able to expand his product line, invest in marketing, and build a strong team to help him manage the growth.
Today, Scottevest is a leading brand in the functional clothing market, with a wide range of products that cater to different demographics and needs. The company has collaborated with major brands, such as Apple and Disney, and has been featured in top publications like Forbes and The New York Times.
Key Takeaways from Scott Jordan's Success Story
So, what can we learn from Scott Jordan’s success story? Here are some key takeaways:
- Innovation is key: Scott Jordan’s success is a testament to the power of innovation. By identifying a gap in the market and creating products that solve real problems, he was able to build a successful business.
- Perseverance is essential: Jordan faced numerous challenges in the early days of Scottevest, but he persevered, driven by his passion for entrepreneurship.
- Strategic partnerships can be game-changers: The investment from Robert Herjavec was a turning point for Scottevest. Jordan’s ability to secure strategic partnerships has helped him expand his business and increase revenue.
📈 Note: Scott Jordan's success story is a great example of how innovative thinking, hard work, and strategic partnerships can lead to success in business.
FAQs
What is Scottevest?
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Scottevest is a clothing company that specializes in functional and innovative clothing items, such as jackets and vests with built-in pockets and compartments for storing gadgets and other essentials.
How did Scott Jordan appear on Shark Tank?
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Scott Jordan appeared on Season 4 of Shark Tank, seeking an investment of $500,000 in exchange for 10% equity. He pitched his product line to the Sharks, showcasing the unique features of his clothing items.
What was the outcome of Scott Jordan's Shark Tank appearance?
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Robert Herjavec offered Scott Jordan a deal of $500,000 for 15% equity. Jordan accepted the offer, and the investment helped take Scottevest to the next level.
In conclusion, Scott Jordan’s success story is a testament to the power of innovation, perseverance, and strategic partnerships. By identifying a gap in the market and creating products that solve real problems, Jordan was able to build a successful business that has grown exponentially over the years.
