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Ep 23: The Fulfillment and Freedom of Pursuing Your Passions
Steve Wampold: Innovator, Entrepreneur, and Joy-Bringer. Steve's professional journey is marked by an unyielding passion for bringing joy into people's lives through innovative product design. As the founder of BigMouth Inc, Steve harnessed his creativity to revolutionize the novelty pool float market, achieving multi-million-dollar success and earning the title of “Vendor of the Year” from Target in 2016’
In this episode, Jacob Koenig welcomes Steve Wampold, the former CEO of Big Mouth and the current CEO of Bouncy Bands and Punchkins. Steve shares his entrepreneurial journey, starting with how his penchant for humor and creativity led him to sell practical jokes online, eventually founding Big Mouth in the early 2000s. The company flourished, growing significantly in revenue by selling to major retailers. However, facing uncertainties about future growth and having never extracted significant money from the business, Steve turned to Woodbridge and Larry Reinhart for advice, leading to a decision to explore the market's interest in his company.
Steve recounts the exhilarating experience of being pursued by multiple investors, attributing the successful sale to Woodbridge's broad market approach and competitive process, which garnered higher-than-expected offers. Post-sale, Steve describes a period of adjustment and reaffirms his passion for entrepreneurship. He shares his current ventures with Bouncy Bands and Punchkins, emphasizing the joy of creating products and working with a tight-knit team without the pressures of his previous CEO role. In closing, Steve praises Woodbridge for their effective process and hints at potential future engagements with them for his current ventures.
Here’s what to expect this episode:
Entrepreneurial Evolution: Steve’s story is a testament to how entrepreneurial vision, when coupled with creativity and persistence, can lead to substantial growth and success.
Strategic Decision-Making in Business Sales: The decision to explore the market through a sell-side engagement, highlights the importance of understanding market dynamics and being open to opportunities that may reshape a business's future.
The Emotional Aspects of Selling a Business: They discuss the period of adjustment post-sale and the mix of excitement, uncertainty, and nostalgia that business owners often face during and after the transition.
Life After a Major Business Transaction: Steve talks about his ventures post-Big Mouth, specifically Bouncy Bands and Punchkins, emphasizing the importance of continuing to pursue one's passion and the joy of creating new products without the intense pressures of his previous role.
The Importance of the Right Partnerships and Advice: The episode underscores the value of expert advice, thorough market exploration, and strategic positioning in achieving favorable outcomes in business transactions.
Connect with Steve Wampold:
https://www.linkedin.com/in/steve-wampold-002a5547/
Connect with Jacob Koenig:
https://woodbridgegrp.com/
Learn more about your ad choices. Visit megaphone.fm/adchoices
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By Jacob KoenigSteve Wampold: Innovator, Entrepreneur, and Joy-Bringer. Steve's professional journey is marked by an unyielding passion for bringing joy into people's lives through innovative product design. As the founder of BigMouth Inc, Steve harnessed his creativity to revolutionize the novelty pool float market, achieving multi-million-dollar success and earning the title of “Vendor of the Year” from Target in 2016’
In this episode, Jacob Koenig welcomes Steve Wampold, the former CEO of Big Mouth and the current CEO of Bouncy Bands and Punchkins. Steve shares his entrepreneurial journey, starting with how his penchant for humor and creativity led him to sell practical jokes online, eventually founding Big Mouth in the early 2000s. The company flourished, growing significantly in revenue by selling to major retailers. However, facing uncertainties about future growth and having never extracted significant money from the business, Steve turned to Woodbridge and Larry Reinhart for advice, leading to a decision to explore the market's interest in his company.
Steve recounts the exhilarating experience of being pursued by multiple investors, attributing the successful sale to Woodbridge's broad market approach and competitive process, which garnered higher-than-expected offers. Post-sale, Steve describes a period of adjustment and reaffirms his passion for entrepreneurship. He shares his current ventures with Bouncy Bands and Punchkins, emphasizing the joy of creating products and working with a tight-knit team without the pressures of his previous CEO role. In closing, Steve praises Woodbridge for their effective process and hints at potential future engagements with them for his current ventures.
Here’s what to expect this episode:
Entrepreneurial Evolution: Steve’s story is a testament to how entrepreneurial vision, when coupled with creativity and persistence, can lead to substantial growth and success.
Strategic Decision-Making in Business Sales: The decision to explore the market through a sell-side engagement, highlights the importance of understanding market dynamics and being open to opportunities that may reshape a business's future.
The Emotional Aspects of Selling a Business: They discuss the period of adjustment post-sale and the mix of excitement, uncertainty, and nostalgia that business owners often face during and after the transition.
Life After a Major Business Transaction: Steve talks about his ventures post-Big Mouth, specifically Bouncy Bands and Punchkins, emphasizing the importance of continuing to pursue one's passion and the joy of creating new products without the intense pressures of his previous role.
The Importance of the Right Partnerships and Advice: The episode underscores the value of expert advice, thorough market exploration, and strategic positioning in achieving favorable outcomes in business transactions.
Connect with Steve Wampold:
https://www.linkedin.com/in/steve-wampold-002a5547/
Connect with Jacob Koenig:
https://woodbridgegrp.com/
Learn more about your ad choices. Visit megaphone.fm/adchoices