Million Dollar Monday
Million Dollar Monday
The Life-Saving Solution: A Conversation with LifeVac Founder
Show Notes & Resources
Being an entrepreneur isn’t always about making money. For LifeVac founder Arthur Lih, it’s about making a difference. What if you had already built a successful business, sold it for millions of dollars, then on the cusp of retirement, you realized you could create something that wouldn’t just change someone's life, but it could save someone's life? Would you put your life on hold to focus on the lives of others? Lih sits down with host Greg Muzzillo to discuss the story behind the creation of LifeVac, why he felt morally obligated to start the company, and the lives he’s touched along the way.
Chapters
1:47 - Arthur Lih and his first business
3:06 - From Working for someone else to starting your own business
5:22 - Retirement put on hold
8:33 -The Start of LifeVac and raising awareness
11:17 -Creating a reliable product that lasts
13:12 -The startling statistics about choking
16:24 - The Hall of Saves
19:34 -Journey to 1 million lives saved
Resource Links:
Connect with Arthur Lih:
Connect with LifeVac:
Key Takeaways:
- You get frustrated with other people's decisions that you don't necessarily agree with and that you think you could do better if you had the freedom to make those decisions, and then you get the leap of faith moment where you say “I can do it, I'm going for it”
- How could I be the only guy that could save this kid and then read about a child that died with me knowing I have something that could have saved them? So as much as I wasn't thrilled with the idea of going back and starting from scratch, there was a moral obligation to do it. And I'm grateful that I did.
- The research really scared me. It's 5,000+ people a year choke to death. It's the fourth leading cause of accidental death; under car accidents, poisonings and slips and falls. And one child dies every five days that's recorded.
- This is my sanctuary, like Superman Fortress of Solitude. When you walk in here and you see all these lives, regardless of how tired, or how much you want to give up, you just look at a couple of these faces and these little kids and you keep going.
- The heroes are the parents and the EMTs and the EMS and the police and the elderly caregivers and the grandparents. Those are the heroes. And it's just neat that I gave them a tool to be that hero
