Tara Bosch recounts her appearance on the Canadian pitch television show Dragon's Den during the early days of SmartSweets.
Assertion Not checkable as stated
Bosch: SmartSweets' first co-packer stole the recipe to launch a competitor
“That manufacturer took the recipe and ended up going on to launch a product themselves,”
Assertion Not checkable as stated
Bosch: Former manufacturer planted metal in SmartSweets bags before national launch
“When Whole Foods, when we're like, okay, we're doing a national launch with them, simultaneously, at the same time, the first manufacturer that we had, sketchy things start happening. There's metal that's starting to be found in some bags. There's I get a call…”
Disclosure
SmartSweets raised $3M on common shares using only a four-page deck
“Once they supported me we closed the round in two weeks. And had a really clear philosophy about this is common shares, so there was never any preferred shares, and that was it, and we didn't share financials or anything beyond just like the four page deck tha…”
Insight
Bosch: Candy requires physical retail distribution because it is an impulse purchase
“So, I always felt clear that e-com, I think for us, was going to be a surprise and delight, but that candy is an impulse purchase, and People are gonna wanna have a sweet tooth and pick up the bag in store.”
Disclosure
SmartSweets' first employee worked unpaid for a year before getting equity
“I basically wasn't for the first year, and then I paid her 30 grand and gave her equity.”
Insight
Bosch: Retail packaging must communicate its value proposition within three seconds
“Like, the notion of, you know, three seconds or less consumers have to understand what you're Doing and be compelled enough to pick it up off shelf.”