Story
Poppi went on Shark Tank at $500K revenue, with a second job paying the mortgage
Before the rebrand, Mother Beverage had done about $500K selling apple cider vinegar drinks at farmers markets. With the founders working 80-hour weeks, a kid on the way and Stephen working a second job, Shark Tank was the lifeline. Rohan Oza invested.
“Mother Beverage at the time, we'd done about $500,000 in revenue. And it was that point of like, if we don't get investment, we can't sustain this, right? We were working 80 hours a week. We had a kid, a kid on the way. Steven was working a second job just to pay our mortgage. And you can only be in that rat race for so long. And so Shark Tank was just this beautiful opportunity.”
Tactic
Take chips off the table: you'll never regret living well earlier
Partway through building Poppi, the founders sold some shares to upgrade their lifestyle and build a nest egg in case the company never sold. Their advisor said they would never regret living well sooner, and Shaan adds that it frees founders to swing bigger.
“And our financial advisor at the time told us, he's like, you're never gonna regret living the life that you want earlier. Say, say, I don't know, just make up a number. It's worth $5 million and in 5 years it's gonna be worth $20 million. You're never gonna regret having, buying the nicer house, going on the extra vacation with your kids, getting the upgraded car, having the nicer phone.”
Steal thisWhen a secondary is available mid-journey, sell a slice; the safety net makes you bolder, not lazier.