From selling $6M of pool tables to scaling cotopaxi to $150M in revenues: Lessons from Cotopaxi's founder

I had a real deep desire to help other people. I’d always known that I wanted to find a way to help people. – Davis Smith

Davis Smith, the Founder and Chairman of Cotopaxi, an outdoor brand that combines profitability with a humanitarian mission, shares his entrepreneurial journey. He discusses how he transitioned from selling pool tables to creating a business that has assisted over 4 million people living in poverty.

He also offers insights into purpose-driven entrepreneurship, innovative financing strategies, and the importance of persistence.

Table of Contents

1. Embracing Purpose-Driven Entrepreneurship
2. Leveraging Innovative Financing Strategies
3. Persistence Amid Challenges
4. The Integral Role of Purpose in Business
5. Women Investors’ Affinity for Purpose-Driven Businesses

Embracing Purpose-Driven Entrepreneurship

Growing up in various Latin American countries fostered a deep sense of empathy within Davis Smith.

Although he tasted initial success with an online pool table venture, his desire to help others led him to establish Cotopaxi—an outdoor brand that places its humanitarian mission at its heart.

Leveraging Innovative Financing Strategies

Smith’s first venture was financed by customers who were willing to wait for their custom-made pool tables.

This strategy allowed them to use customer payments for their first inventory purchases from China.

Further funding came from family loans, bank loans, personal savings and credit cards.