Michele Romanow net worth – CBC Dragons Den Entrepreneur
This article is about ‘Michele Romanow net worth’. I chose the ‘net-worth’ subject again, as a number of people are interested in entrepreneurs-net-worth.
Jump to this section of the article:
- Michele Romanow networth
- From tea rooms to caviar business
- You can’t be married to one idea
- So how did Michele Romanow make her money and create her current net worth
- Tech entrepreneur Michele Romanow co-founds mobile couponing app
- Michele Romanow and Dragons Den Canada – Agrees $1 million investment in den
- Michele Romanow net worth moves to fintech
- Michele Romanow quotes
- An entrepreneur, but a woman at heart, looking for ‘outfit-advice’ from her Instagram followers
- Romamow – one of the 100 most powerful women in Canada
- Michele Romanow dancing on a table with Sir Richard Branson
Having already written about a few of the BBC’s Dragons Den investors, I thought I’d introduce Michele Romanow. A Millennial-entrepreneur and a successful Canadian woman in business. As this business blog is an international business blog site, I needed to look over the pond for international entrepreneurs.
Michelle Romanow has been one of the dragon investors on CBC Television Dragons Den in Canada since 2015. A Toronto-based business woman. She will be first of many international entrepreneurs I will write about.
My interest in Michele Romanow is three-fold:
- She’s an entrepreneur for one, and I love to read and write about entrepreneurial people;
- Michele Romanow is not just an entrepreneur, but also a tech-based-business-woman. This is a subject I have already written about.
- Which leads me onto the third reason, which is my interest in ‘Women-in-business‘
Michele Romanow net worth…
Michele Romanow’s net worth is estimated at around $150 Million. Not bad for a young-entrepreneur who was born in 1985.
So at age 32 (the age at the time of writing this article) that’s $4.7 million made for each year of her life.
Entrepreneurial life began with The Tea Room at Ontario’s Queens College. The USP for this startup business was a ‘zero-consumer-waste-coffee-shop‘.
Michele Rowman was just 22 when she started her first small business.
She set this business up when she was studying there for her engineering degree. This ‘green-business‘ pioneered both environmentally friendly technologies and practices.
From tea rooms to caviar…
Her next business venture was Evandale Caviar. This new business continued her interest in sustainability and food.
This new company was set up to supply the world’s largest caviar market, the United States. But the business was also aligned to preserving the endangered sturgeon species too.
Cartier Woman’s Initiative Awards…
There’s an interesting interview with Romanow, which is worth a read on Cartier Woman’s Initiative Awards. When asked in this interview about ‘why sustainable food?’ she said ‘As engineering students at Queen’s University in Canada, we were challenged to build things not only faster and lighter. So I started thinking about ways to produce food more sustainably.’
Michele Romanow – “You can’t be married to one idea.”
The reality is, businesses fail. Already have a business plan in motion? Well, don’t get too attached. I often meet people who tell me they’ve poured everything they have into a business idea, that (unfortunately) just isn’t going to cut it. Like a bad relationship, if you’ve ignored the red flags, you’re just wasting time and holding yourself back from building something truly awesome. Even if your business is a success, the second you tell yourself you’ve made it- you’ve stopped working. . If this is you, don’t be afraid to cut the cord. Breaking up with your current plan may be scary, but remember this… YOU are the key to your success, NOT an idea. Learn when you’ve failed, and then you can learn why. 👰🏼💔💡👋🏼 . . . . . #entrepreneur #entrepreneurlife #business #success #build #entrepreneurialmindset #makeithappen #grind #hustle #entrepreneurship #motivationmonday #businesstips #startuplifestyle #startuplife #entrepreneurs #quoteoftheday #technopreneur #startups #techstartup
Why caviar, was the next question, and she answered: ‘I chose caviar because it represents luxury and timeless elegance and has some of the largest profit margins in the food industry.’ However, when luxury retail collapsed in late 2008, and with a change in federal legislation, the business came to an abrupt end.
Not put-off and saying ‘you can’t be married to one idea‘, this switched-on-young-entrepreneur and millennial, just 25 at the time of starting this second business, was not put off by her business failure.
Rowmanow recognised that failure does happen in business. So with oodles of confidence, Romanow moved on to the next business opportunity…
From food to tech entrepreneur…
After making some money from sustainable food, Michele Romanow’s net worth really began to motor, when she switched to becoming a tech entrepreneur…
So how did Michele Romanow make her money and create her current net worth?
Romanow teamed up with two college colleagues with her first two business ventures. These two co-investors, Anatolly Melnichuk and Ryan Marien, joined her in the next joint business venture.
However, business woman Michel Romanow along with her co-founders changed tact.
Tech entrepreneur Michele Romanow co-founds mobile couponing app…
So more recently, Michele Romanow has become a tech entrepreneur or techpreneur, having built SnapSaves and sold this to Groupon.
She also co-founded Buytopia, which was her third and current business.
SnapSaves was acquired in June 2014 for an undisclosed amount by Groupon, and was reported in a local Canadian newspaper.
SnapSaves is a smartphone app and was created by Toronto-based company Buytopia. The mobile couponing app has a deal of the day business model similar to Groupon, which will be the reason for the acquisition by the Chicago-based company.
Buytopia is a deal-finding platform. Their motto is “Because life is better at 50-90% off”.
From humble beginnings back in 2012, where the business began with just three engineers, they have saved subscribers over $100,000,000. You can read some interesting facts about them on the Buytopia annual report page.
Michele Romanow and Dragons Den Canada…
The youngest ever investor on Dragons Den Canada, she brought a new dimension to the CBC show, joining in the tenth season in 2015.
Described as a ‘Tech Titan’ and by Forbes as the only Canadian to rank as one of the top 20 most disruptive “Millennials on a Mission.”
She has an engineering degree and an MBA to her name. So this naturally borne business woman is intelligent as well as a plucky entrepreneur.
One of her Den-Investments is in Tapplock – the world’s first smart fingerprint padlock.
David Tao and Kayden Li are Toronto-based entrepreneurs who were looking for $200,000 for a 5% investment on the show.
Three of the dragons in the den offered angel investment, but a deal was struck with Romanow in the end, for a 5% royalty and a 6.5% equity stake in the company.
Romanow was thinking outside the box once more, to secure an investment she wanted to run with.
Romanow closed a deal on air on CBC’s Dragons Den for $1 million for a 27% stake in TDot Performance.
Related: Lori Greiner invested in the biggest success story in Shark Tank history. The Scrub Daddy. For an investment of $200,000 for a 20% stake, the business has now had revenues in excess of $75 million.
An online eCommerce store for performance car parts that ships anywhere in Canada. With a projected turnover of $10 million back in 2015.
Michele Romanow net worth moves to fintech…
Investment in fintech companies exceeded $36 billion in 2016, which was up on the 2015 estimate of $20 billion, which in itself was up 66% on 2014. This meteoric rise didn’t miss the keen eye of entrepreneur Romanow.
The fintech based company she launched is clearbank.com. Clearbank.com is a financial services platform which targets North America’s 50 million freelancers and self employed contractors.
Looking to build fast traction in her new fintech-business-venture, in her innovative way of thinking she struck a deal with Uber.
With immediate access to a significant market, which in 2016 was in excess of one million drivers, this gave her the fast-track-startup she wanted.
‘Part of being an entrepreneur is believing if you keep asking questions, you can figure out.’ Michele Romanow.
In an article in the Financial Post, she is quoted as saying that they’d advance $5 million so far, which was growing at a rate of 15% per week.
Michele Romanow quotes…
Michele Romamow quote ‘Value-based prioritization is key. You can really only do 3 big things a day.’
Be more productive and make the most out of your daily grind by following this one rule: Do your hardest tasks first thing in the day. You can really only accomplish 3 big things a day. By shortening your to-dos, you only leave room for tasks that are truly important. Checking numerous boxes off a list may give you a sense of relief, but it may not be the most productive and efficient use of your time. #MotivationMonday #MichTip 💡✨🔑 . . . . #entrepreneur #entrepreneurlife #business #success #build #entrepreneurialmindset #makeithappen #grind #hustle #entrepreneurship #motivationmonday #businesstips #startuplifestyle #startuplife #entrepreneurs #quoteoftheday #technopreneur #startups #techstartup
A second quote from Michele Romanow – “As an Entrepreneur you learn by doing“…
Another quote from Michele Romanow – “Successful people do what unsuccessful people are not willing to do.”
An entrepreneur, but a woman at heart, looking for ‘outfit-advice’ from her Instagram followers…
Women in business are different to men in business. So although Michele Romanow is a business women, she is all woman at heart. What makes her different to men, is her looking for guidance on her CBC Dragons’ Den outfit on Instagram.
Women in business have a different approach to entrepreneurship than men.
This is something that a business-man would like not do, and sets women apart from men. This different approach to business and investing is what sets women apart. A collaborative approach is a great leadership style to possess, and is akin to Indra Nooyi’s female approach at Pepsico.
Romamow – one of the 100 most powerful women in Canada…
In 2014 Romanow was in the top 100 award winners at the WXN network. This is the Top 100 Most Powerful Women in Canada.
These awards celebrate the legacy of female leaders who define what is possible. A list of great Canadian women, and the list includes some of the boldest female leaders, who are prepared to push the boundaries.
Rowmanow is amongst the top Canadian entrepreneurs. She has become the youngest Dragons Den investor on the show too, which is just one more boundary she has pushed. This is a true reflection of her success in business.
And finally, Michele Romanow dancing on a table with Sir Richard Branson…
Sir @RichardBranson, founder of @Virgin keeping good to his advice of “seizing the moment” by dancing on the coffee table with @MicheleRomanow #Clearbanc & #CBC ‘s #dragonsden and having fun in business at the 4th annual @Canada2020 conference at the @Shawcentre ————————– With moderator @RumaBose on Canada ‘s Golden opportunity for entrepreneurship. ________ #gensdelights #Ottawa #Canada #News #breakingnews #virgin #sirrichardbranson #journalist #journalism #entrepreneurship #realnews #truth #RumaBose #entrepreneur #women #fun #funtimes #competition #beinspired #creative #luxurylifestyle #luxurylifestyles
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