Davis Smith, serial e-commerce entrepreneur and CEO of Cotopaxi, discusses risk-taking, building a brand, prioritizing people, and finding purpose in entrepreneurship. He shares his journey, the power of storytelling in building a brand, efforts to fight poverty through outdoor products, and empowering workers and inspiring innovation. The podcast also explores the need to reconstruct capitalism and do good in business.
Building a business that gives back is important for creating social and environmental impact.
Successful entrepreneurs possess traits such as adaptability, grit, sales skills, and empathy.
Deep dives
Growing up in South America and its impact on empathy and building a mission-driven business
Davis Smith shares his experience of growing up in South America, which influenced his love for culture, language, and compassion for others. Being different from everyone else in a foreign country taught him empathy and the importance of building a business that gives back. This childhood experience shaped his perspective and motivated him to create Kodopaxi, an outdoor gear brand focused on social and environmental impact.
The journey to entrepreneurship as a means of making a difference in the world
Davis Smith's lifelong passion for helping people led him to consider working for a non-profit or becoming a teacher. However, after meeting an entrepreneur dedicated to fighting poverty through entrepreneurship, Davis was inspired to pursue a different path. He embarked on a 10-year entrepreneurial journey, searching for ways to combine business and social impact until one day, it clicked. This realization led him to start Kodopaxi, where he could fulfill his mission of making a positive difference through business.
Traits of successful entrepreneurs and the importance of adaptability, grit, sales skills, and empathy
Davis Smith reflects on the traits he has observed in successful entrepreneurs. He highlights the importance of adaptability, being willing to take imperfect action, and not being afraid of failures and setbacks. Additionally, he emphasizes the significance of grit, the ability to persevere through challenges and keep pushing forward. Sales skills are also crucial for entrepreneurs to effectively communicate their vision, attract customers and investors, and overcome rejection. Lastly, he emphasizes the value of empathy, as great entrepreneurs are those who genuinely care for others and lead with a focus on serving and uplifting those around them.
The power of storytelling and experiences in building a brand and driving customer loyalty
Davis Smith discusses the importance of creating unique experiences and stories with Kodopaxi to appeal to millennials and Generation Z. Rather than solely focusing on product superiority, Kodopaxi emphasizes adventure, community engagement, and giving back. By connecting customers to the brand's values and providing opportunities for them to share their own stories, Kodopaxi cultivates a loyal and passionate customer base. This approach not only drives customer lifetime value but also enables the brand to make a greater impact on social and environmental causes.
Davis Smith is a serial e-commerce entrepreneur and the founder and CEO of Cotopaxi, a b corporation changing the outdoor gear industry for the better. He offers advice on risk-taking, building a brand, prioritizing people, and finding purpose. Davis is an inspirational leader who uses entrepreneurship as a force for good, and there is a lot to be learned from his story.