373: Net Worth Of $14.5M - From Non-Profits to Startup CEO to Hitting 8 Figures in My 70's
Sep 3, 2024
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Riggs, the CEO of OriginClear, has a remarkable net worth of $14.5 million, reflecting his journey from the nonprofit sector to the startup world. He shares insights on overcoming challenges in the industrial water space and the importance of innovation. Riggs emphasizes the need for a compelling idea and solid organizational development for success. He discusses creating investment opportunities for both accredited and unaccredited investors. Additionally, he offers essential advice for aspiring entrepreneurs, highlighting the significance of apprenticeship and adaptability.
Riggs illustrates the value of diverse experiences and perseverance in shifting his career from nonprofits to leading a successful startup in his 70s.
The podcast emphasizes the urgent need for innovative water treatment solutions, highlighting adaptability as key to seizing opportunities in challenging industries.
Deep dives
The Importance of Apprenticeship
Gaining experience in an industry before fully committing to it is crucial for success. Learning the ins and outs through an apprenticeship helps individuals navigate potential challenges and avoid costly mistakes. A clear example is provided by the speaker’s observations during their time at C, where veering off course required significant effort to correct. The lesson emphasizes the necessity of rapid adaptation in the face of changing circumstances.
Riggs' Diverse Career Path
Riggs shares his unique trajectory, illustrating how he transitioned from various roles in the nonprofit sector to becoming a startup CEO. He emphasizes the value of gaining a broad range of experiences, including working as a merchant marine captain, which shaped his global perspective. Despite starting his corporate journey in his 40s, Riggs highlights that perseverance and learning through failure contributed to his eventual success. His story suggests that it's never too late to change career paths and find one's true calling.
Innovations in Water Management
Riggs discusses the urgent need for innovative solutions to address the global water crisis, emphasizing the impending infrastructure challenges the country faces. His company has pivoted from biofuels to focus on decentralized water treatment solutions, enabling industries to manage their own wastewater. This business model not only proves beneficial for clients but also aligns with a sustainable approach to environmental issues. It illustrates how adaptability can lead to discovering untapped market opportunities, even in outdated industries.
Advice for Aspiring Entrepreneurs
Riggs underscores the importance of taking calculated risks to achieve financial success in a hyperinflated economy. He suggests that aspiring entrepreneurs should not shy away from experimentation and learning from failures along the way. By advocating for a humble approach toward self-assessment, he emphasizes adjusting strategies early to avoid prolonged detours. Ultimately, his philosophy hinges on the idea that applying lessons learned quickly can significantly impact one's entrepreneurial journey.
Riggs has a net worth of $14.5 million. He is in his early 70's. He is currently the CEO of OriginClear, a water treatment company. He shares his journey from working in the nonprofit sector to becoming a startup CEO and eventually leading a company to the NASDAQ. Riggs talks about the challenges and successes he has faced in the industrial water space and the innovative solutions his company is providing. He emphasizes the importance of perseverance and the desire to make a positive impact in the world. Riggs discusses the company's focus on retail fundraising from accredited investors and their plans to help launch future companies. He emphasizes the importance of having a hot idea with differentiation, strong organizational development, and a path to financial success. Eckelberry also highlights the need to provide investment opportunities for both accredited and unaccredited investors. In the rapid-fire questions segment, he shares anecdotes about his first job, expensive purchases, and changing beliefs about Russia.
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