When Cameron Cruse and Lisa Bradley pitched their purse firm R. Riveter on Shark Tank in 2016, they fielded presents from traders Robert Herjavec, Kevin O’Leary, and Mark Cuban. The Sharks have been impressed by Cruse and Bradley’s mission to make use of navy spouses nationwide and have been assured of their means to develop the enterprise. The entrepreneurs went with Mark Cuban’s supply of $100K for 20 p.c fairness of their firm, and haven’t any regrets.
Mark Cuban is ‘there when we need him’
Navy spouses Cruse and Bradley launched R. Riveter in 2011 to fulfill an employment want they discovered prevalent amongst navy households. Making a enterprise that provided “mobile, flexible income” for these typically being relocated, the entrepreneurs determined to produce purses as a manner to rent others in navy households from round the nation. Their enterprise mannequin and mission received over Herjavec, O’Leary, and Cuban after they pitched in the Tank. Cuban was picked as an investor.
“We got a great partner with Mark Cuban and he’s still involved in the business today,” Cruse advised Showbiz Cheat Sheet. “The way in which he resonated and appeared to simply join with the thought of how we have been supporting navy households was simply one thing you’ll be able to’t describe — you’ll be able to simply kind of really feel that they perceive. He’s been superior and he’s actually helped to help and be there after we wanted to develop the enterprise. We’re actually proud of our our selection.“
Cuban has made a worthwhile and constructive influence on the firm, however doesn’t micromanage. The Shark Tank star makes himself out there to Cruse and Bradley however offers them freedom in working R. Riveter.
“He’s great because he’s there when we need him, but he still trusts us to run and grow the business as founders, so we kind of get the best of both worlds,” Cruse stated of Cuban. “We get his experience and his resources. But at the same time, he’s pretty hands off when it comes to just letting Lisa and I make those decisions.”
‘Shark Tank’ expertise was ‘terrifying’ however ‘well worth it’
Showing on Shark Tank has change into a main purpose of entrepreneurs wanting to catapult their companies to success. Pitching in entrance of the well-known enterprise icons was a nerve-wracking expertise for Cruse.
“It was surreal,” the R. Riveter co-founder stated. “It was one of the scariest things I’ve ever done, but obviously it turned out really well… it really propelled us forward. Being in the Tank was a terrifying experience, but well worth it and very rewarding afterwards.”
Nonetheless studying the ropes in the enterprise world, Cruse felt a bit unsettled in the uneven waters of the Tank at first. However sticking to R. Riveter’s mission helped her navigate her manner by way of the pitch.
“Lisa and I had never done anything like this before,” she defined to Showbiz Cheat Sheet. “When we started the business in 2011, we were basically Googling how to make handbags and how to start a business and how to register your LLC. So from just kind of getting our our footing underneath us, then to stand up in front of the five most famous business people on TV was very intimidating.”
“When we got up there and we started the pitch, we knew that all we can do is be who we are and tell them our mission and everything that we were trying to do,” Cruse continued. “And the coolest part about it was the way that everybody resonated with it, even though we didn’t have 20 years in business. You can see that our mission was worth supporting and we had something worth pursuing.”
R. Riveter launches new merchandise
The corporate lately launched the Ada tote in honor of English mathematician Ada Lovelace. The black canvas and brown leather-based bag presents a roomy inside with two slip pockets and one zipper pocket.
Placing the highlight on Breast Most cancers Consciousness month in October, R. Riveter has teamed up with BreastCancer.org to elevate consciousness of early detection. Releasing the Struggle Like Rosie assortment on Sept. 16, a portion of the proceeds will go in the direction of this mission.
Cruse, who holds a Grasp’s diploma in structure, added that R. Riveter additionally carries “accessories like candles and jewelry that we call Riveter-made, that is made by remote Riveters all across the country.”
The entrepreneurs plan to introduce extra new designs in November to rejoice the firm’s tenth anniversary. For extra info and to take a look at merchandise, go to R. Riveter’s website.