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Cotopaxi's Founder Navigates COVID-19 Challenges and Transitions to Remote Work
TLDR Cotopaxi's founder, Davis Smith, successfully navigated COVID-19 challenges by innovating, transitioning to a remote-first workplace, and focusing on masks and outdoor products, leading to the company's first profitable year in 2020 and subsequent growth. Smith stepped down as CEO to serve as a mission president in Brazil, emphasizing values, giving back, and ensuring Cotopaxi's mission is protected forever.
Timestamped Summary
00:00
The founder of Cotopaxi, Davis Smith, shares updates on navigating COVID-19 challenges, transitioning to a remote-first workplace, evolving social impact work, and stepping down as CEO to dedicate time to serving his church.
04:48
The challenges of the COVID-19 pandemic led Cotopaxi to innovate, cut executive salaries, and focus on masks and outdoor products, resulting in the company's first profitable year in 2020 and subsequent growth in 2021 and 2022.
09:44
Cotopaxi shifted to a remote-first work culture, with over 300 employees, including top hires from outside Utah, maintaining connections through virtual hikes and innovation tournaments to foster creativity and collaboration.
14:06
Cotopaxi has found unique ways to foster innovation and collaboration in a remote work environment through virtual brainstorming sessions and intentional mentorship efforts.
18:49
Davis Smith, founder of Cotopaxi, was inspired by a young boy named Edgar he met in Peru, leading him to build a business that could make a meaningful impact in the world.
23:31
Davis Smith helped a young boy named Edgar from Peru create a virtual walking tour of Cusco during the pandemic, showcasing his entrepreneurial spirit and inspiring story.
28:09
Davis Smith discusses the challenge of ensuring environmental sustainability in manufacturing while emphasizing the importance of staying mission-driven and addressing potential unintended consequences.
32:41
Davis Smith emphasizes the importance of being disciplined in tracking and measuring impact, focusing on education, healthcare, and livelihood training rather than a buy one, give one model.
37:38
Davis Smith announced stepping down as CEO of Cotopaxi to serve as a mission president in Brazil for three years, emphasizing the importance of values and giving back.
42:01
Davis Smith plans to serve as a mission president in Brazil for three years, aiming to inspire young missionaries to make a lasting impact in the world while transitioning to a chairman role at Cotopaxi.
46:13
Davis Smith is exploring ways to ensure Cotopaxi's mission is protected forever, aiming to transform capitalism by focusing on ownership and creating a sustainable business model that aligns with their purpose and values.
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