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How did a simple idea turn into a $ 4 million business?

How did a simple idea turn into a $ 4 million business

How did a simple idea turn into a $ 4 million business?
How did a simple idea turn into a $ 4 million business? 

In 2013, Tom Borden served in the US Air Force as an F-16 repairman. 

He was especially grieved that the devices were continually sliding, tumbling to the ground and preventing his work. 

At the point when he required an alternate device, Borden needed to either get off the plane or ask another person to hand it over. 

"You can't put the devices on the plane since they slip, yet putting them inside the plane is against the standards. Borden says the best way to grasp the devices is. 

Due to this, he incited a specialist to locate his very own answer for the issue - a clingy orange cushion can be put on the plane without sliding, composes Forbes. 

With the assistance of Kickstarter crowdfunding stage and Shark Tank program, he made his thought a reality. This is the means by which Grypmat was conceived. 

On account of his fruitful thought, 29-year-old Tom Borden earned a Forbes 30 under 30 rating in the Production and Industry class a year ago.

Today, his business expects $ 4 million in revenue, which will double his performance for 2018. Borden plans to expand the project by making the product available to retailers with a cheaper and compact version of Grypmat that suits homemakers.

Grypmat is one of more than 2.5 million companies in the United States owned by veterans or former US military personnel. Among them are Black Rifle Coffee, Rumi Spice, and Combat Flip Flops. All these companies have revenues in excess of $ 1 trillion and employ more than 5 million people, according to government figures.

"I don't know if it's because of my personality, but I see only enormous benefits in being a military entrepreneur," says Borden. "There is a strong community that supports the army."

The burden arose in a small town called Selena in Ohio. He joins the US National Guard, working as a mechanic for F-16 combat weapons systems in Toledo.

At the time, he was a student at the University of Toledo where he studied mechanical engineering. The annoyance of having to go down and climb the ladder in order to accomplish the task, made him think of a more effective solution to the problem.

"I wanted to solve this problem. People told me, 'This is part of the work, you have to accept it.' I really refused to give up."

Think of a magnetic jacket that the tools can hang, like a fridge magnet, passes the idea through his mind and hangs the tools on the rope.

"Then I was in my mother's car, where I saw garbage that didn't slip on the plane. I thought," We can do this more for the tools and put them on top of the plane. "The plane is made of aluminum, so no magnets can be used to hold the tools," says Bourdon.

This turned into a clever idea, but it took mechanically three years to come up with a prototype. So during work and study, he developed his product.

In 2016, Burden went to his first trade show - EAA AirVenture in Oshkosh, Wisconsin, where aviation enthusiasts met.

We have filled the trailer with 600 of Grypmast, planned to sell at the show.

On the first day, he sold only 13 pieces of products made from improvised materials.

Disappointed by the failure, he decided that he needed to do more. He started talking about his idea at parties, and slowly, a rumor began having a convenient tool spreading.

The burden sold 101 units of Grypmat to enthusiasts. Then a man appeared selling car accessories and asked to be a distributor of the product as long as the cars.

Inspired by this achievement, Burden made his way home and sold his house, raising a total of $ 17,000 in capital while the rest went to repay the mortgage.

In 2017, he raised $ 113,000 through Kickstarter, then appeared on the Shark Tank TV show, making his work particularly visible. Since the show, he has made investments, with Mark Kuban, Laurie Greener and Richard Branson investing $ 360,000 in exchange for 30% of his business, making Grypmat at $ 1.2 million.

The burden still owns the remaining 70% of the business.

Today, the company offers small and medium Grypmat, all made of the same non-slip tires. Costs range from $ 29.99 to $ 44.99, as Borden tries to expand his business beyond the military model.

To this end, it offers a newer version of the product at a lower price (between $ 19.99 and $ 29.99), since it is not necessary for the collective use of tire processing to resist the chemicals used to defrost the aircraft. .

On the other hand, Burden's goal is to use the original product by commercial airlines as well.

He remembers meeting with Mark Cuban at his Dallas office and traveling to the hangar at American Airlines, where he talked about how Grypmat could help support aircraft more efficiently.

"It was great," he says. "We ended up meeting their support team," Borden added.