056: Why this Company Pivoted from Apparel to Outoor Gear (via Cory Tholl of Klymit)…

Background on Cory Tholl of Klymit:

Cory Tholl became CEO of Klymit in 2011 and quickly turned the company into a profitable and high growth outdoor brand. Cory is a family man who thrives on taking products from ideation to market. He is passionate about creating great jobs for good people and is focused on creating a stellar return for investors.

The idea behind Klymit is to help adventurers fall asleep and wake up as comfortable as possible. Rain or shine. Hot or cold. They can provide the gear that will make people look forward to sleeping outdoors. Today, they are one of the fastest growing outdoor gear companies in the industry.

His peers see him as a visionary, intelligent, and articulate person. He is great at motivating people to be forward thinkers. He is also a natural born leader and an all-around nice guy.

Time Stamped Show Notes:

[1:08] Cory is the CEO of Klymit, a company that manufacture all types of outdoor gears.
[1:45] Cory joined the company in the ideation stage in 2008.
[3:01] When he assumed control over the company in 2011, Cory had encountered some difficulties in the company and the organization.
[4:16] At the beginning, the company was struggling with sales and Cory decided to learn how to do sales.
[8:23] One of their best successful relationships is with Costco.
[9:16] The Board decided for Cory to lead the company and the Founder to step down.
[10:22] They had worries on where their products and brand will be viewed if they sell in Costco.
[11:09] “No one can do sales as good as you can. Even if you’re an engineer like myself that doesn’t do sales, no one can sell your product as good as you can.”
[14:02] One of Cory’s regrets was depending on outside sales people and not figuring out the sales beforehand.
[18:21] Cory’s advice for entrepreneurs that are just starting their company is to figure out how much will people pay for your products and services.
[19:17] “Can I provide for my family while I’m trying to make this work?” – Cory talking about his biggest personal challenge when he was just starting out.
[21:34] Cory makes sure not to bring his stress at work in his home and family.
[22:50] “The stress is really nowadays is probably getting the right people, do we have the right people in the right place…”
[27:50] Cory is ensuring that all the company resources are utilized to where they need to.
[30:47] Right now, the company has 23 employees, about $10m in revenue in 2016 and double last year.
[32:57] Cory realized that a lot of entrepreneurs fail because they give up easily and not try hard enough to do it.
[34:49] “Use all those resources that are out there in helping you figure out if you have that golden idea.”