Million Dollar Monday
Million Dollar Monday
How Calloway Cook turned his frustration into a Successful Business
Show Notes & Resources
Imagine quitting your job and risking it all to raise money, build a business plan on the fly , and create a company you believe can make a difference in people’s lives. Sound crazy? Well that's exactly what the bold, entrepreneur Calloway Cook did when he founded Illuminate Labs. The Founder and active President of this modern and honest supplements company discusses with host, Greg Muzzillo, the miscommunication between consumers and the dietary supplement industry, and reveals his best advice for aspiring entrepreneurs.
Chapter Summaries
1:58 - How Calloway Cook got his Start
4:39 - The idea behind Illuminate Labs
7:10 - Financing a Dream
9:43 - Taking the leap of faith
13:10 - What to sell and how
14:15 - What makes Illuminate Labs Special
15:40 - Operating as a B Corp
17:37 - Advice for entrepreneurs
Resource Links:
Connect with Calloway Cook:
LinkedIn
Connect with Illuminate Labs:
Website | LinkedIn | Twitter | Instagram | YouTube
Key Takeaways:
- The learning style of sit down and shut up and listen for an hour so you can learn something just doesn't work, especially for so many people who are entrepreneurs.
- I didn't immediately start with this as a business idea, right? It started with me as a kind of frustrated consumer
- We have a great explainer video because a lot of this stuff is pretty technical. We realize we need a kind of more fun and engaging way to sell it. And we've gotten great reviews on that kind of explaining, why this type of product is necessary.
- Being a B Corp does internally structure your decision-making so that like your shareholders can't force you out or pressure you by saying, if you're making a business decision that doesn't necessarily lead to the maximum profitability, you have legal protection because of the way you're incorporated.
- Invest in what you know. So if you run a business, just do what you're an expert in. If you're starting a business and you're not an expert in anything, it’s probably not going to go well.
