With the help of her dad, Kiowa Kavovit, 7, pitched Boo Boo Goo, on Shark Tank. Their idea consists of a liquid bandage that comes in various colors and skin tones. Kiowa said she didn’t like how band-aids fell off all the time and how they were uncomfortable to remove. Although liquid band-aids already exist, Kiowa’s father explained how this is an entirely new, waterproof formula, not to mention how it comes in a variety of colors.
Though most of the sharks felt that there was too much competition, they did manage to secure a deal consisting of a $100,000 investment for 25% of the company (contingent on obtaining a patent) . The plan would be to license this product to the existing players who already have a decent share of the market with the distribution channels in place.
The best part of this episode was the encouragement given by Lori Greiner. She told Kiowa to “keep thinking of things…you’re so young right now, you can set the world on fire with more and more ideas. It only takes one to become successful.”
Additionally, her father commented that “We feel that the more entrepreneurially-minded kids are from the outset, the better the chances that they’ll try out their ideas when they’re young, [which] will just give them more freedom in their lives later.”
I actually watched this episode, and felt so inspired by such a young go-getter. Made me want to go out, and solve an issue by creating my own product. If she can do it, why can’t I? If she isn’t afraid to fail, why am I?
Such an inspiring young girl, I hope she keeps seeking to solve issues through her creations.
I saw this episode, as well. I thought the idea was such a fun one, and I also thought it was incredible that such a young girl was involved in this. It gives the lesson to think like a child, constantly using your imagination, because you never know what you might come up with.
It is so awesome to hear famous, successful entrepreneurs encourage such a young entrpreneur.
It’s very exciting to see a young girl shy away from a normal kid’s life and dream big. As far as the product goes, I would agree that it faces a lot of competition. Even if Kiowa and her dad know that their liquid band-aid is a new formula, that concept is not an easy one to get into consumers’ minds. For that reason, I think it is best that they use existing companies and distribution channels.
Great post, Emily! It is definitely encouraging to see such young people with such brilliant ideas! It really is a motivational tool that you can truly do anything when you put your mind to it, and clearly this little girl has. And Lori is exactly right, she will fill this world with wonderful ideas! I hope she keeps up the great work! 🙂