New Mexico native, Eagle Scout turned Tavis Malcolm found himself in the middle of a family crisis. He overcame that challenge and built a successful business on that transformation. Parents Malcolm and Lillian first encountered the problem when camping seven years ago—they weren’t able to find a sleeping bag for their infant son. To keep baby Morrison warm, they did pajamas over pj’s over a snowsuit and then put her in a swaddle blanket. This experience inspired a fire in Malcolm that would ultimately inspire him to found Morrison Outdoors.
Malcolm comes from a long line of entrepreneurs, an experience that certainly influenced his entrepreneurial spirit. In June 2018, he took the leap of faith that shifted everything for him. In order to pursue his vision and mission, he quit his traditional marketing job to create a line of specialty sleeping bags designed especially for infants and toddlers. Six months later, he was able to launch Morrison Outdoors from his garage to help care for families by getting them connected with innovative sleeping solutions.
Morrison Outdoors did not take long to get on the map, thanks to their unique and interesting products. Their SleepSack swaddle and wearable blankets were a popular alternative to loose blankets in introduced nursery sleep. They have winning adult sleeping bags, the Mega Mo, for adults, built-in pockets, sleeves and a convenient bottom zipper cave. The product lineup has resonated with parents looking for practical solutions during outdoor adventures.
Entrepreneur Tavis Malcolm took a risk by going on the hit TV program Shark Tank. He asked for $300,000 in exchange for a 10% equity share of Morrison Outdoors, showcasing his desire to grow the business. The resulting pitch had investors Mark Cuban and Barbara Corcoran enthralled. They eventually put together a solid offer to Malcolm of $300,000 for a total 20% equity stake in the company. Though the deal looked promising at first, it collapsed soon after the show’s taping.
For all of Malcolm’s movement success, his journey has not been without its challenges. In 2023, Morrison Outdoors found itself having a hard time staying in the black, riding on the wings of cocky marketing efforts. Even with this blow, Malcolm’s passion for the industry did not falter. He stated, “I told my wife, ‘Listen, I think that this could be something serious. I want to quit my job, I want to take our savings — which at the time was like $3,000 — and I want to commit myself to launching this product.’”
Not to be discouraged by prior challenges, Malcolm set to work on bringing in sales while keeping marketing costs to a minimum. And the best part? “To bring in that $850,000 in sales this year, so far we’ve only spent about $15,000 on marketing,” he shared. Morrison Outdoors has taken a measured, strategic approach that’s shown to lay the groundwork for explosive growth. Projections show that revenue will reach $1.1 million in 2024.
Mark Cuban had some great advice about growth vs profitability while Malcolm was pitching his business. “That is the greatest example to all of the people who are watching,” he said. “When you chase topline growth, you’re going to have to chase your profit margins because they’re leaving too.” He further emphasized that “when your bottom line goes up, not only can you control your own destiny, but you can reinvest in your business and it makes you more attractive to investors like us.”
Things are going great — Morrison Outdoors just continues to grow. As a father of young children, Tavis Malcolm is passionate about providing better products that fit families’ needs. His journey from a camping trip dilemma to a successful enterprise illustrates the power of innovation and resilience in entrepreneurship.
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