Hanging On: The Ornament Anchor Story - From Craft Fairs to QVC

Phillip Lanos Podcast

Ornament Anchor, a family-run business, creates secure ornaments to protect sentimental items during the holiday season. The company was founded by a young entrepreneur who noticed the need for a better ornament hanger after their dog broke several ornaments. Through hard work, dedication, and a passion for design, Ornament Anchor has grown from a small business to a thriving company.

Two young entrepreneurs, inspired by the movie “Joy,” launched their business selling ornament anchors at local craft fairs. Despite the challenges posed by COVID-19, they remain determined to expand their reach and have already appeared on QVC. Their parents, recognizing their passion and potential, provide guidance and support as they navigate the entrepreneurial journey.

A family-owned business experienced significant growth with their product, Ornament Anchor, leading to a purchase order from QVC. However, the COVID-19 pandemic posed challenges, forcing them to adapt their marketing strategy and focus on online platforms like Amazon. Despite the setbacks, they remained resilient, leveraging their experience on Shark Tank and securing a spot in Amazon’s Launchpad program.

Two young entrepreneurs discuss their experience on Shark Tank, emphasizing the importance of perseverance and learning from failures. They highlight their determination to improve and build upon their previous venture, showcasing a growth mindset. The entrepreneurs express admiration for Richard Branson and Elon Musk, valuing their entrepreneurial journeys and ability to adapt and pivot.

• Business Origin: The business started when they, who were homeschooled at the time, wanted to do an entrepreneurship class and partnered with their sibling on an invention.

• Business Growth: The business grew from participating in local craft fairs to a multimillion-dollar company with over 25 employees.

• Company Values: The company values authenticity and creating products that make a positive difference in people’s lives.

• Business Origin: The business started with a successful craft fair experience, leading to further growth and expansion.

• Business Partnership: The business was founded by three individuals, each contributing unique skills and expertise.

• Business Growth: The business expanded from craft fairs to a successful online presence, including a website and a patent.

• Entrepreneurial Advice: Get the product in front of audiences for real-time feedback and to test its marketability.

• Building a Business: Entrepreneurs need to put in the effort, hustle, and get their hands dirty to build a successful business.

• Market Testing: Attending local craft fairs to showcase the product and gather feedback from potential customers.

• Business Engagement: Business is engaging and fun, not just because it’s profitable.

• Balancing School and Business: A homeschool approach is used in seventh grade to focus on business, with parents providing guidance.

• Challenge of Balancing Education: The question explores the challenge of balancing traditional school subjects with the excitement and problem-solving of business.

• Inspiration and Vision: Drawing inspiration from Joy Mangano’s journey, emphasizing the importance of persistence and continuous improvement in overcoming setbacks.

• QVC Partnership: The company secured a deal with QVC after realizing their product, Ornament Anchor, would be a good fit for the QVC audience.

• Expansion Plans: The company planned to expand their business by attending buyer market fairs and approaching retailers like Walmart and Target.

• Amazon Presence: The company is on Amazon and part of Amazon Launchpad, which provides support for small businesses.

• Shark Tank Pitch Experience: Two young entrepreneurs pitched their product on Shark Tank, received positive feedback but didn’t secure a deal.

• Contact Information: Guests’ website (www.ornamentanchor.com) is the best way to reach them.

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