Overview
Thomas Fields, a former basketball player from Houston, Texas, founded Grind, a sports startup that provides affordable basketball shooting machines.
Despite encountering supply chain issues, Fields managed to secure pre-orders and launch Grind with the help of angel investors and REDLabs.
Grind appeared on Shark Tank in 2020 and secured a deal with Barbara Corcoran and Mark Cuban. Although the deal never closed, Grind has continued to grow and is now worth $2 million.
Shark Tank Appearance
In 2020, Fields appeared on season 12 of Shark Tank and asked for $250,000 for 5% equity.
Mark Cuban and Alex Rodriguez appreciated the product but expressed concern about the tight profit margins. Barbara Corcoran was interested in Grind and teamed up with Cuban to invest $250,000 for 25% equity.
Although Fields had to give up more equity than he wanted, he agreed to the deal.
After Shark Tank
Although the deal with Mark and Barbara never closed, Grind shipped the first batch of pre-orders and delivered the second batch in early 2021.
Grind made $1 million in revenue for 2021 and is focused on fulfilling new orders, improving its product, and expanding its merchandise line. Grind also participated in the Techstars Sports Accelerator program, which helped the company raise $1.6 million.
As of 2024, Grind is worth $2 million and has a 4.5-star review rating on its website.
Thomas Fields was also featured in the Forbes 30 Under 30 2022 Class.
Thomas Fields’ Background
Thomas Fields played for the Heights High School basketball team in Houston, Texas.
Unfortunately, he suffered multiple ACL injuries and had four surgeries before graduating, which ended his dream of playing in the NBA. Fields then attended the C.T. Bauer College of Business at the University of Houston, where he became a speaker at the startup accelerator REDLabs.
He also enrolled in the Success Initiative Program at MIT Sloan School of Management. Fields joined the board of directors of TXRX Labs, a non-profit hackerspace, and later became part of the MIT Media Lab.
Founding Grind
Fields came up with the idea for Grind while he was recovering from his injuries and wanted an affordable, portable basketball machine to practice with.
He used his own money to build a prototype and struggled to raise money at first. However, with the help of angel investors and REDLabs, Grind launched in 2017.
Despite encountering supply chain issues, Grind gained a strong social media presence and received over $215,000 in pre-orders.
Lessons From Grind’s Success
“Based on the Shark Tank episode about Grind, here are three practical tips for aspiring young entrepreneurs:
1. Identify a market gap and innovate
Thomas Fields identified a gap in the market for an affordable, portable basketball shooting machine that could be used by aspiring players who don’t have access to expensive, professional-grade equipment.
By innovating and creating a more accessible product, he addressed a significant need in the market.
2. Persevere and leverage personal experience
Thomas’s personal experience of being unable to access affordable training equipment due to repeated ACL injuries motivated him to create Grind. Leveraging personal challenges and experiences can provide a unique perspective and drive to create solutions that resonate with others facing similar issues.
3. Bootstrap and validate early
Thomas started Grind with $15,000 earned through various jobs, and despite the challenges, he managed to pre-sell $215,000 worth of units within five months.
Bootstrapping the initial phase and validating the product through pre-orders can demonstrate market demand and build credibility, making it easier to attract investors and partners later on.
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