Laurel Bloomfield is the perfect example of a woman “doing it all,” and then some, in business and in life. The serial entrepreneur, inventor, wife and mother is taking her knack and passion for creating, combined with her expertise in business—specifically around patents and company launches—and sharing her wisdom with the world through Launch Incubator. Bloomfield’s company takes clients from the infancy stage of a product idea all the way to navigating the complexities of distribution.
Q: Tell us about your background, what did you do prior to creating Launch Incubator?
A: I’ve had a long journey in entrepreneurship, that started when I was a child. I launched my first business out of college, which was in animal healthcare. Later, I created my first online business in fashion, with a few friends. And it was during this part of my career that my first patented idea came to be. What started out as a special pocket design born out of the idea that there were not a lot of fashion items that had space for a phone at the time, evolved to serve a niche for type 1 diabetics who wore an insulin pump.
Q: What inspired you to start Launch Incubator?
A: When I was existing out of the company of our patented invention, which we took from an idea all the way to major distribution in Target and Walgreens, I started thinking about what was next, and what I could do with all of my knowledge about the process I went through. This is essentially how the idea for Launch Incubator came to be. I wanted to share my experience and how I was able to accomplish a truly successful launch. I found myself being approached by a wide variety of entrepreneurs in all kinds of businesses, so I reached out to some of my mentors and connections to create an incubator with various stages and for a range of sectors.
Q: What goes into a launch—can you tell us about that process?
A: It varies depending on the client and idea. I get a lot of calls from people saying, ‘I have a great idea, can you call Walmart for me?’. But in reality, there are about 4,000 steps between the call and that, and it’s not to say that it can’t be done, but skipping steps is not an option. We tailor our service based on where someone is in the process, because at every phase there will be different launch strategies. I try to be very hands on and tailor everything to the client.
Q: What do you think, from your experience, is the most important thing for a startup to have a successful launch?
A: The relationship within your team will make or break you. No matter how much you know, how much money you have or don’t have, the relationships within your team are your biggest assets or liabilities.
Q: What are your visions for Launch Incubator in the future, or alternatively for yourself, is there another business, maybe more inventions?
A: With Launch Incubator it’s very organic for us, and we just want to help as many inventors and business builders as possible reach their goals. I want to be able to help all of the entrepreneurs I can on a personal level. As for me, I always have my hands in a few projects, and I am always working on new invention ideas—that’s in my nature and definitely in my future. I believe that if you have knowledge, it’s wasted if you don't share it.