072: 8-Figure Exits & Building PaddleSmash Into The Next Big Backyard Game with Tim Swindle

Tim Swindle is an entrepreneur and the co-founder of PaddleSmash, a Pickleball and roundnet hybrid that's making waves in the backyard game world.

After starting in commercial real estate, Tim pivoted to software where he built and sold a company for 8-figures in 2016. Soon after, Tim moved into the toy and game industry with his card game Utter Nonsense, which he sold to U.S-based PlayMonster for 8x EBITDA. As Pickleball became the fastest-growing sport in North America, Tim rode the momentum, launching PaddleSmash in 2018.

In today's episode, you'll hear Tim share lessons from his success with retailers, including tips for negotiating deals, getting your product noticed by decision-makers, and how to stand out on the shelves for shoppers.

You'll also get an inside look at the creation of PaddleSmash, the reason Tim chose to license the product, and ideas on how to effectively iterate your product during the design phase.

Key Takeaways with Tim Swindle

• How PaddleSmash went from $0 in sales to getting picked up by large retailers like Dick's Sporting Goods and Scheels.
• What are the biggest potential pitfalls to look out for when entering into contracts with retailers?
• Tips, tricks and nuances for designing packaging to both optimize profits and attract customers.
• How should entrepreneurs who want to break into the retail space structure their pitches to buyers?
• One of Tim's biggest business takeaways — and how he used it to land the first clients for his software product.
• How Tim went from commercial real estate to his first 8-figure software exit.
• How can you build an effective focus group to improve your early-stage product?
• The practical considerations behind deciding whether or not to license a product.
• An experienced look at negotiating deals with big box retailers.
• Why deciding what not to build is just as important as deciding what to build.
• Tim's first exit in the retail space — an 8x EBITDA sale of his card game Utter Nonsense.
• The tailwinds and chance connections that led to PaddleSmash's creation.
• Why most of the innovation in the toy and game space comes from individuals as opposed to corporations.

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