2-7-22: The painfully slow story of success for the Leatherman tool
SAX IN THE MORNING
English - February 08, 2022 09:00 - 4 minutes - 3.46 MB - ★★★★★ - 34 ratingsBaseball Sports Education Self-Improvement los angeles dodgers new york yankees baseball all stars sacramento sports chicago white sox Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
This week we are talking about how failing is just part of the process to being successful.
Take Tim Leatherman who created the Leatherman multi-tool. Tim had a simple idea of making a pair of pliers with a fold out knife. He spent two years in a garage trying to build a tool he thought people would use and finally, after one failed prototype after another, he finally made a tool he thought was worthy of selling. The problem was no one wanted to buy it.
He was rejected by every knife and tool company in the U.S. but he didn’t give up. Five years later he sold one knife to one person at a trade show. Soon after that he found a partner who liked his idea and could help with manufacturing. Eight years after he got to work in that garage he got an order for 500 tools. That order quickly turned into 1000, then 1500 and before he knew it, Tim’s business was doubling year over year for over a decade.
He stuck with his idea and never let up and today Leatherman is a private company based in the U.S. worth well north of $100 million.
Listen to my short today for a 5 min breakdown on where the two sides stand and I also give my thoughts on the frustrating lack of urgency being shown by both sides.
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