Title Nine founder Missy Park explains how she secured inventory financing when starting her catalog business in 1989.
Assertion Not checkable as stated
Park: Title Nine hired no retail specialists until passing $40M revenue
“We didn't have anybody really until we were over forty million dollars. We didn't have anybody who had retail experience, apparel experience, marketing experience. Man, we had, everybody was just true believers, product users, That are really interested in wom…”
Insight
Park: Consistent steady execution beats taking high-risk venture-scale swings
“If you hit singles, Which we do, and we're good at. You're not gonna hit a grand slam. And that's just, you need to make your peace with that. And I think I would take the staying in the game of singles to striking out a whole bunch and every once in a while g…”
Insight
Park: Work-life balance is a myth for great entrepreneurs and parents
“When people talk about work-life balance, I think, you know, there's really no such thing as balance. If you want to do something really great, whether that's be a great mom or be a great entrepreneur or a great business person, you're really gonna have to dig…”
Disclosure
Park: Title Nine has never prioritized purely financial shareholder value
“The sole purpose of a publicly traded company or a private equity backed company is to maximize shareholder value in purely financial terms. And plain and simple, I haven't done that.”
Disclosure
Park: Title Nine will transition to new owner-operators over 10-15 years
“I do not need a liquidity event because of the way we have grown it. At this point, we have zero debt. We have zero outside investors. So it is a good spot for someone to come in and be able to earn a seat at the ownership table, and that is my hope, is that a…”
Opinion
Park: Entrepreneurial success is 90% luck and 10% hard work
“So when you look at all those very lucky things, and then you add on to it all of the things, the happenstance meetings, and the people that offered me a hand up, I mean, I'd say it's 90% luck, but then what I would say is the part that I can control is the 10…”