Bite Founder and CEO Lindsay McCormick knows business. Starting her company three years ago with $6,000 and growing it into a multi-million dollar business was no easy task. But she did it without any external financial support. Lindsay knows to bootstrap, and she knows how important it is in the earlier years when you need so much money to keep your business going, and not a lot of money is coming in.
Lindsay McCormick
BITE
Lindsay spent a lot of her time and sweat equity on creating her product. She is the chemist behind the product who spent time working on it, trying new combinations, and perfecting the formula. The results are innovative products to help reduce the waste around oral care. No more toothpaste tubes tossed into the garbage – she’s made a line that makes your daily routine more sustainable with products that are plastic-free, cruelty-free, and made with clean ingredients.
A Shark Tank contestant who received two offers, one from Mark Cuban and one from Kevin O’Leary, Lindsay walked away from both offers to create the business that kept her in full control. Having had a video featuring Bite that went viral a year earlier, this time Lindsay prepared for the attention her business would get from competing on Shark Tank.
Having worked hard to get her business where it is today, Lindsay encourages those with the entrepreneurial dream to go for it.
Lindsay offers her best entrepreneurial tips here:
Find your passion
Take your passion and run with it. Starting a business is hard work, and falling back on your passion or mission is necessary when things get tough. If you have a product or service that is aligned with who you are and what you stand for, you’ll have the extra motivation needed to help you push through to find the solution.
Leverage the online environment
The internet is a great way to get your product out there to be seen and gain visibility. Spend time connecting with online communities in the same space as your business and networking with the change-makers in your industry. As an entrepreneur, continual learning and personal growth are required, so keep at it to become the best entrepreneur you can be.
Differentiate your product
When you offer a new solution to a problem, you have to have a differentiated product. Spend time thinking about what makes your product better and lean hard into those unique qualities. Customers are looking for solutions to their problems, and when you offer a unique solution, you are setting yourself apart from the competition.
Know your business numbers
Lindsay has taken courses and put in that extra effort to get to know her numbers better. She works with a great CPA and sees the value in knowing her business numbers to make smart business decisions that will make her business more money.
Hard work pays off
Entrepreneurship and building a business is hard work, and I don’t think anyone will tell you otherwise. You need to hustle and know your product, marketing, sales, and business numbers. Every day is different, and problems can pop up at any time, but don’t let that hard work deter you because the payoff is worth it.
The bottom line is being an entrepreneur means that you are leading through uncharted territory, and you need to be ok with that. You want to be the first there and feel a little uncertain, but it’s all part of the job. Being on that uncertain ground allows you the opportunity to grow and keep learning. It’s part of what makes that all exciting.
