Entrepreneurship and Intellectual Property
My name is David Spears and I am an Intellectual Property attorney who manages patent portfolios for client ranges from start-up companies to multibillion dollar companies around the world. I am also a former college football player for Michigan State University. I am interviewing people who have invested in themselves and Intellectual property, and who then goes on to start a business around their intellectual Property.
Entrepreneurship and Intellectual Property
Why This DIY Business Model is Better Than Paint and Sip
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Ever wondered what it takes to turn a creative passion into a thriving business that catches the eye of the Sharks? In this episode of Everything Intellectual Property, we sit down with Megan Pando, the innovative founder of Maker Social, to explore the intersection of DIY crafting and the nightlife industry. Megan shares her journey from being a competitive Girl Scout to building a unique bar experience that has taken the Columbus arts district by storm.
In this deep dive, you will learn how Maker Social differentiates itself from the traditional paint and sip model by offering a diverse menu of over thirty projects ranging from leatherwork to jewelry. Megan explains the importance of brand building, the psychology behind her step by step instructions, and how she uses customer service as a moat to protect her business. We also get an exclusive look at her Shark Tank experience, including the intense preparation required to memorize six years of financials and what it is really like to audition alongside thousands of other entrepreneurs.
Whether you are interested in the legal side of protecting a brand through trademarks or you want to know how to pivot a service business during a global pandemic, this episode is packed with actionable insights. Megan discusses her success with influencer marketing on TikTok and provides heartfelt advice for anyone looking to take the leap into entrepreneurship.
Chapters
0:00 The philosophy of unattached outcomes
2:10 Introducing Megan Pando and Maker Social
5:15 Revolutionizing the paint and sip business model
8:45 Creating the perfect DIY project vibe
12:30 How to pivot with trends and avoid fads
16:20 From fine arts to founding a company
20:00 The importance of a business mindset for creatives
24:15 Using intellectual property to protect your brand
28:50 Behind the scenes of the Shark Tank audition
33:10 Memorizing financials and pitching to the Sharks
37:25 The future of Maker Social and franchising goals
40:15 Lessons from COVID-19 and the impact of TikTok
41:50 Advice for the next generation of entrepreneurs
If you enjoyed this conversation, please make sure to like the video and subscribe to the channel for more interviews with successful founders and IP experts. Be sure to follow Megan on social media and book your reservation at Maker Social next time you are in Ohio!
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