Dan-Foam swapped a $75,000 container debt for 10% equity in Tempur-Pedic
Bobby Trussell · Tempur-Pedic: Bobby Trussell (2018) · Jul 6, 2020 · at 30:38
Tempur-Pedic founder Bobby Trussell recalls negotiating with Swedish manufacturer Dan-Foam after running out of cash to pay for an incoming European shipment in the early 1990s.
0:00 / 0:05exact quote · 5.0s
720p mp4 · rendered on demand · StarZero watermark
“We will swap that container for 10% interest in your company.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Bobby Trussell
Discounting Tempur-Pedic pillows to $30 would have hurt sales
“I think if you sold it for 30, you'd sell less.”
Trussell: Tempur-Pedic would have sold fewer pillows at $30 than $90
“I think if you sold it for 30, you'd sell less.”
Trussell leveraged a Sharper Image deal to force Brookstone to stock mattresses
“So I started selling to Sharper Image. Their arch rival. Brookstone had an absolute cow about that, and they called me, Mike Anthony called me, and he said, Bob, we want you to not to sell to Sharper Image. It's going to hurt our business. And I said, okay, I'…”
Trussell: Founders should prefer 5% of something big over 51% of something small
“Well, my philosophy is the opposite, is I'd rather have five percent of something really big than 51% of something small. And so my advice is, okay, you'd always like to control it, but you don't have to.”
Trussell: Founders are more equipped for entrepreneurship at 40 than at 20
“I think you're more equipped for that when you're 40 than when you're 20.”
Trussell leveraged Sharper Image rivalry to force Brookstone to sell mattresses
“I started selling to Sharper Image, their arch rival. Brookstone had an absolute cow about that, and they called me, Mike Anthony called me, and he said, Bob, we want you to not to sell to Sharper Image. It's going to hurt our business. And I said, okay, I'll …”