Passion and desire, the ability to tell a good story, and the knowledge to read a business's vital signs: These traits in a founder signal a worthwhile company for Herjavec's portfolio. These are some that fill the bill.
1. Tipsy Elves
A dentist and a lawyer start an inappropriate, ugly sweater company. No, it's not a joke! This has been my most successful venture to date. This team keeps innovating to come up with zany new product lines.
2. The Natural Grip
I was drawn to owner Ashley Drake's inspirational story as an American veteran. She's incredible. This is a great product for people who are into functional fitness--you wear the grip so you don't rip your hands when you're working out. It's innovative, practical, and long-lasting. Since being in the Tank, the company's done more than $1 million in sales.
3. The Mensch on a Bench
If people love the Elf on the Shelf, there's certainly a market for the Mensch on a Bench, right? Founder Neal Hoffman had a great background in the toy industry, so I was drawn to that. He wanted to build a company to celebrate his faith and offer a way to connect with his kids over the holidays.
4. Happy Feet
A family-run slipper business that has excelled in retail and online. I've been impressed with (owner) Pat Yates's gusto and ambition over the years. We recently landed a deal with Dreamworks to offer various movie characters on Happy Feet slippers. It's a huge accomplishment for a great team.
5. Keen Home
This isn't just another home ventilation product company--this is a technology company first and foremost. Keen Home has expanded its product line, made inroads in retail, and already expanded beyond my vision for the company. I'm so proud of how it's continuing to grow.
6. Drain Strain
The practicality of and market need for Drain Strain appealed to me. Since airing in the Tank, Drain Strain has expanded its retail presence, completed a number of hotel trials, and focused on growing the product line. It's on track to success.