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by Elisa Parry
Season four of Shark Tank kicked off tonight and some of the business ideas were entertaining, to say the least. Our founder Naomi Simson, got a good giggle when Lori arrived on set, the founder of The Inappropriate Gift Co. As the name suggests, these gifts are highly inappropriate, and her customers love them and so did the Sharks. We quizzed Naomi on what it is she’s looking for when deciding to invest in a business and how The Inappropriate Gift Co ticked those boxes.
Shark Tank on Tuesdays 8:45pm on Network Ten.
What’s your checklist when it comes to investing in a company?
Naomi: I’m looking for businesses that are driven by passion. Passion is an energy and it’s infectious. The second thing I’m looking for is persistence - that people will go through the ups and downs – every business does, I need to know that they are there for the long haul. Thirdly, I’m looking for positivity, I want them to be looking for opportunities, to be curious and to speak with positive language because positivity breeds positivity. And lastly, that they’ve thought about their purpose. They need to speak about what they are contributing rather than what they are getting. It’s important for people to think about who they are pitching to and what might be attractive to us.
How did The Inappropriate Gift Co hold up to your checklist?
Naomi: The Inappropriate Gifts CO ticked all those boxes. They had passion in bucket loads. They had plenty of humour. If you’re going to be in business you may as well have fun doing it. She is also purposeful, she believes that people need to have a bit more of a laugh and that life is too serious and politically correct. She is definitely not politically correct! She is positive and when she said she was going to achieve $20 million in three years I bought the story, I bought the vision.
Where can you buy Inappropriate Gifts?
You can buy all the Inappropriate Gifts your heart desires on our sister site Wrapped. If you’re looking for products from previous Shark Tank episodes, you’ll find the official list of suppliers and her blog posts from previous seasons on Naomi’s website here.
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