Mon, 12 January 2015
Introducing Glenn Cox
So often, innovation is inspired through the day-to-day lives of people. However, these innovative people are stopped from pursuing an idea because of fear of the unknown. Our guest this week, Glenn Cox, didn’t allow anything to stop him from pursuing his innovation that can save money, people, and the environment.
In his previous life, Glenn was an RCMP officer stationed out of Vancouver Island, British Columbia. He received a call that a tanker truck had been in an accident and was spilling diesel fuel onto the highway and it was threatening to pour into a nearby river. Arriving on the scene, Glenn felt somewhat helpless, as he had to wait almost two hours for someone from the Department of Environment to arrive from Victoria to plug the gash. After leaving the force, Glenn came to the understanding that the process for fixing ruptured tanks hadn’t changed much. So, he formulated a design and started a business from his home. The product that was developed was the Rupture Seal. Essentially, the rupture seal fixes leaks in a matter of seconds saving costly chemicals and the environment. Now the Rupture Seal is sold in 35 countries and what was originally a home based business for Glenn has had to move into three different buildings in the last four years due to the business’s growth.
To kick his growth up a notch, Glenn decided to take his product and his pitch to the CBC television show “Dragon’s Den”. (For our non-Canadian friends, “Dragon’s Den” was the Canadian pre-cursor to the popular ABC television show “Shark Tank”.) While in the “den”, Glenn gave a 45-minute presentation and was offered three different deals from the “dragons”. Glenn ended up picking the deal for $500,000 for a 25% equity stake offered by former RCMP officer and franchise baron Jim Treliving. Glenn pictured his pitch to the “dragons” the same way as he did while offering evidence to a court as an RCMP officer. He emphasizes to all entrepreneurs that they need to be ready in a moments notice to offer their “elevator pitch”. He believes that you need to know your product and your pitch because you never know when an opportunity will strike.
In this episode
Glenn tells us how his training with the RCMP aided him as an entrepreneur and how no matter what your background your previous experiences can prove valuable as you enter the unknown world of entrepreneurship. Glenn also tells us that it is never too late if you have a great idea that is meaningful and unique. Glenn reminds us that success is so often on the other side of fear and the only one stopping you from doing what you want with your life is YOU. Greg expands on this notion by saying that dispelling fear allows you to live a passionate life based on love. Dave is truly inspired by the notion that there is always the opportunity to take the leap to be an entrepreneur and that their will always be lessons you have learned from your past experiences that will aid you in your journey.
Links and References