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Started out at Belmont industries started out as a hot walker which is a person who walks horses from their morning work outmaking $75 a hour

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1979-1986  Land       Entrepreneurship labor land                worked Ganes way Farm he studied  pedigrees and became somewhat of an expert he helped  find Stallion  prospects and he followed over on horses and they made major investments on

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1979-1986  Land       Entrepreneurship labor land                worked Ganes way Farm he studied  pedigrees and became somewhat of an expert he helped  find Stallion  prospects and he followed over on horses and they made major investments on

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Started stallion management services do the same things I did it gains weight but remotely for farms that cannot afford the infrastructure also created fur bread advisory group that advise people on other horses transactions it was a good idea but it was bad timing because the horse industry started going into recession and everyone went broke

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Early 1990       Entrepreneur Entrepreneurship                            One of his French trainers called him Talking to him about a horse chiropractor about a company in Sweden that makes air purifiers for horse stables start of the company called Nyon and it turned out to be a bad company. Sense The product was 220 V overseas in the United States only 110 V so the product only worked half as good retail price was $500 similar products on the market we’re selling for $49.95

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Early 1990       Entrepreneur Entrepreneurship                            One of his French trainers called him Talking to him about a horse chiropractor about a company in Sweden that makes air purifiers for horse stables start of the company called Nyon and it turned out to be a bad company. Sense The product was 220 V overseas in the United States only 110 V so the product only worked half as good retail price was $500 similar products on the market we’re selling for $49.95

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Booby got a call from a Swedish course chiropractor so he had to come to Paris and check out this new product A mattress and was introduced to a man name Michael Madison owned The first manufacturing compound that produce the first Tempur-pedic Products. Michael told him I want you to previous month and they want to go worldwide with it. They designed a 3 inch overlay mattress pad. It was originally invented by NASA for the space program To cushion the astronauts from G forcess To cushion the astronauts from G forces it was a public invention with no patent  on it. And his Swedish friends bought a company Dan Foam and made A better and more producible. Originally was meant for football helmets but they decide to use the padding for nursing homes for bedsores. They found out that help people with bed source and people with back pain so to help their back. He decided to sleep on the mattress and it felt really good and he knew he had to be part of it.

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Bobby met with Michael in Milwaukee and negotiated that Bobby would get North American distribution rights for his products In exchange he has to finance it because did not have enough money   And he had to sell 10,000 mattresses in the first year to keep exclusivity. His dad gave him 50 grand and his mom gave him 50 grand to support their son. Rest of its investors give money because one I trust them but they had the same reaction when his investors tried out the product. They were supposed to sell 10,000 mattresses and they sold 70 mattresses. Erase $500,000 but burn through it he also had a target market of chiropractors.

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His product was not selling The chiropractor is recommended that he use his product to make pillows. Him and Michael designed a Tempur-pedic pillow. He decided to send one pillow to 500 unsuspecting chiropractors he found in the phone directories for them to try it out as a free trial. He sent it out in a package telling the chiropractors they could have the first pill for free if they ordered four of them. And if they did not like them all he asked was that he would return the product back to him. They got 25% of them to buy four pillows. This is the major breakthrough that got them out of the nose dive of the business. They were selling four pills a month and 125 chiropractor at $49 apiece. And they ended up making $300,000 and they ended up getting 10,000 chiropractors to buy their pillows.

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Bobby went to Brookstone to try and get them to buy his pillow since they sold pillows. I talked to a kid at the store and gave him the number to headquarters he called the purchasing department and found he had to call Steve rich. He called Steve every day for weeks and weeks two months later he finally got a response from Steve Rich to stop calling him. He wanted him just to make sure he tried out the product and took it out of the box. 10 minutes later I got a callback from Steve Ridge saying that they might take it down to research after all he never even open the product. He wants Steve Rich over than he had a pitch his idea to the purchasing board and agreed to buy 500 pillows four pillows for each 100 stores and they wanted 100 demos. They became the hottest song product in Brookstone. Brookstone wanted to sell it for $90

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Entrepreneurship/ Marketing His Swedish partners ended up owing 45% of the company Bobby and his US investors on 55% of the company. His goal was always to get to 100 million

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Entrepreneurship/ Marketing His Swedish partners ended up owing 45% of the company Bobby and his US investors on 55% of the company. His goal was always to get to 100 million

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Tempur-pedic made $300,000 in profit then they eventually made 2.6 million than and 6 1/2 million. 13 million than 28 million, 45 million,

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Mattresses started to be made. They were able to customize the product for the US market. They took the 3 inch overlay and laminated it to a 8 inch base with normal high density foam. Which double the price $2199 to $1399 for a queen mattress. Started selling in a store change called relax the back 30 to 40 stores started in Texas.  When they first started marketing The mattress “ hey if you have back pain you got to have this mattress”. He went to Brookstone to sell his mattress and they said they didn’t have enough room the store was too small. He started selling mattresses to sharper image their competitors. Brookstone did not like that. He said he would stop sign the sharper image of Brookstone started song is mattress. Put a twin size mattress in the store they were selling one mattress every six weeks. Then it was one every five weeks, One of the four weeks, one every three weeks they ended up selling two a week

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   1994   Labor  and Marketing                               They wanted to get their product out there so they started advertising in the Wall Street Journal, and USA Today, and one day he gets a call from the New Yorker magazine since they had an 800 number you’re eligible for a direct response $6000 cost when he was paying 25,000 for advertising was changed Bobby’s world. This is what I’m going with mattresses

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   1994   Labor  and Marketing                               They wanted to get their product out there so they started advertising in the Wall Street Journal, and USA Today, and one day he gets a call from the New Yorker magazine since they had an 800 number you’re eligible for a direct response $6000 cost when he was paying 25,000 for advertising was changed Bobby’s world. This is what I’m going with mattresses

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Sealy, Simmons, Serta, and spring air and they all were innerspring mattresses. None of them try to differentiate from a product it was a commodity and they sold on price and terms it’s 50% off and you never have to pay that’s how they sold her mattresses. For Tempur-pedic they advertise we have something better that’s a better wheel. We have slime I can help you. In the 1/3 of your life that you sleeping

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He really wasn’t making a lot of profit until the merger of 2000. of the subsidiaries companies selling Tempur-pedic merge into one company. US was 65% of the sales for the Swedish company. That is why they were both motivated to merge and sweet and they had all the factory plants in Sweden in the 80s. Bobby sold little pieces of equity of the company Tempur-pedic. Two friends and family Bobby wanted to raise more money

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Took a large amount of money from to equity companies The part a part of ownership into their business and Bobby and his investors retain the 20% of the company. In 2002 Bobby bought out Tempur-pedic from his Swedish partner for $350 million and became a US-based company.

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He stepped down as CEO of the company because you never felt like he never really saw him self as a CEO of a public company and thought those guys keep this better than him and News from the start and wanted to start becoming CEO and do something different.