Kim Vaccarella bet her kids’ college fund on her business and lost it all.
The founder of Bogg Bag dumped $60,000 into what she thought would be her big break in 2012—a massive order of her waterproof tote bags. When the shipment arrived, her heart sank. Black streaks covered every bag, rendering them unsellable.
“I went for broke and spent my kids’ college money and bought a full container’s worth, and they were all bad,” Vaccarella told CNBC Make It.
Don’t Miss:
- ‘Scrolling To UBI’ — Deloitte’s #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.26/share with a $1000 minimum.
- The $1.3 Billion Startup Investment Boom: How This Company’s Explosive Growth Is Opening Doors For Everyday Investors With A New $500 Minimum
Instead of giving up, she donated the defective bags to Hurricane Sandy victims. Those recipients started asking where they could buy more. With renewed confidence, she secured a $120,000 loan from a family friend and rebuilt.
Today, Bogg Bag rakes in roughly $100 million annually.
Entrepreneurs face setbacks all the time. Some …
