Tower Paddle Boards had recorded only $100K in lifetime sales when they went on Shark Tank. They’ve recorded more than $40 million in sales since—one of the best investments Mark Cuban made in the history of the show.
Tower Paddle Boards was built on innovation. Stephan Aarstol started the business in 2010 using a direct-to-consumer model to sell boards at a fraction of the cost of retail. The company made waves again in 2015 when they experimented with company-wide 5-hour work days, an idea that spread to more than 10 million people across 20 countries.
Today, we’re talking to Stephan about his company’s Shark Tank episode and what impact that had on the long-term success of his business. We’ll learn the trick to successful Shark Tank pitches and what it’s like for companies behind the scenes, from preparing for the show to working with Mark Cuban after he invested, and what Stephan wishes he would have known before he went through the process.
In the years after the episode Tower Paddle Boards has diversified, adding Tower Electric Bikes and an eBike repair shop to their operations. We’ll find out how Stephan knew it was a smart time to expand his company and why he chose eBikes, as well as what other projects this innovative company has in development.
Whether you’re an entrepreneur looking for advice or a fan of Shark Tank who’s curious what life is like for business owners after the show, you’ll learn a lot from this interview. If you want to learn more about Tower Paddle Boards you can find them online at https://www.towerpaddleboards.com/.
Make sure to watch Part 2: https://www.youtube.com/watch?v=hANXlj74yy0
1:11 Meeting Stephan
2:17 The Tower Paddle Boards Shark Tank Experience
3:47 The Products
5:00 Initial Investment
5:31 Impact of Shark Tank Appearance
7:09 Tower Electric Bikes
8:13 Growth Hacking