Self-Made Billionaire Tilman Fertitta Shares the Secret to Pitching Major Retailers | Inc.

[Music] my name is Maegan Eddings I'm the founder and CEO of Excel lifestyle it's epical anti sink workout clothes so recently tilman 42 agreed to be my mentor he's the owner of the Houston Rockets he's the owner of all the Golden Nugget casinos I mean what he does he closes big deals he has that TV show billion-dollar buyer he wrote a book shut up and listen so he's a perfect mentor for me cuz I'm trying to close that next big deal right now you've kind of been boots on the ground trying to sell at little specialty boutique places where you might sell six of this and six of that what lead do you have have you've gotten in to one of the big retailers and met with their sales people I haven't met with them yet there is a lead a really big one that I have that just came to I guess I found about six weeks ago so we just got some awesome news about six weeks ago I'm on I guess the forefront of a huge lead with a huge retail company it would totally change the course of accel lifestyle it would just hockey stick the one thing and I've talked to so many young operators and startups is they all want the big order but then when they get it can they even manage it because there's so many facets of a big order so if a major retailer came in that had three or four hundred stores eight hundred stores and said we really like this product alright and we're gonna place a four hundred thousand dollar order how long is it going to take you to put this deal together to be able to look them in the eye and say I can deliver this at this date so four hundred thousand dollar order from a big retailer in multiple stores so I have to get the working capital first place the order for the fabric and NORTHCOM come to the timeline on my head I could have that all turned around about three months you can't because I'm gonna need it for my spring line so then my spring line is then probably 90 I could I can make it happen you can I can make it as good that's good I think we can do three months based on historical data which is not that long you got that one shot not to have manufacturing problems and so many people struggle with manufacturing because it's the first time they've done a big order sometimes they go do business with who they've been doing business with and and they can't handle your order anymore I've already had to go through quite a bit of factories and manufacturers kind of parting ways with already three of them so yeah I might take a huge order $100,000 order but I'm not the one sewing the shirts I'm not the one making the fabrics I have to rely on other partners and people to make it happen so now that I have this lead into this huge retailer what advice do you have to help me and my team prepare for that one shot that one shot that we have to present excel lifestyle you know anybody can can present a pretty package but what a retail store is always looking at they're looking at space they have this many feet of space to give up and if you go in there and you show them you give me six feet this is how it's gonna look how many stalls how many colors how many different looks I've actually been delaying the pitch for the past month I don't feel like I had enough information to get that one shot and after my meeting with Tillman I now feel prepared and ready you need to let me know how this goes and and I'm here for you and I even want you to meet with somebody from my retail department so they understand your product better and and maybe we can help in some way so Tillman told me he wants me to keep in contact with him so my goal is to call him in a few weeks with the great news you

Channel: Inc.

Views: 14,940

Keywords: Inc. Magazine, Inc.com, Small Business, Entrepreneurship, Business, News, Entrepreneur, Startup, Leadership, Business tips, successful business, houston rockets, tilman fertitta, tilman fertitta first take, tilman fertitta house, tilman fertitta shut up and listen, nba, basketball, founders, ceo, billionaire, secret, pitching, investors, venture capital, megan eddings, ethical activewear, accel lifestyle, portfolio, self-made, selfmade, mentor, mentee, raising capital

Id: iUTVczuwC5o

Length: 3min 57sec (237 seconds)

Published: Mon Oct 28 2019