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The story of Tiny Devotions is a cautionary tale about the importance of getting out while you’re ahead.
Diana House founded Tiny Devotions in 2009. This online, luxury yoga jewelry retailer was the first of its kind in North America.
Fast forward to 2016 and the business was thriving with a successful e-commerce platform, 71% growth the previous year, and seven figures in revenue. But House’s attention had turned elsewhere, both personally and professionally. Despite Tiny Devotions’ success, she decided it was time to sell.
What happened next was an eighteen-month roller coaster of failed deals, legal errors, and declining revenue culminating in a last-ditch email to her entire customer list out of which a buyer finally emerged.
In this episode, you’ll learn:
Tiny Devotions’ early success was due in large part to being in a category of one. With no competitors in the marketplace, this kind of Monopoly Control is an entrepreneur’s dream. Module 6 of The Value Builder System™ evaluates your own Monopoly Control and how it is impacting your company’s value. Get started for free right now by completing Module 1.