Leatherman Tool Group: Tim Leatherman
Tim Leatherman, founder of Leatherman Tool Group, explains how he spent seven years prototyping a folding multi-tool in his brother-in-law's garage before making his first sale. He details the rejection from knife companies like Gerber and toolmakers like Stanley, who dismissed the device as either not a knife or just a gadget, forcing him to pivot to mail-order catalogs like Cabela's and Early Winters. The company scaled from a garage operation to manufacturing over 3 million tools annually in Portland, Oregon, while navigating challenges like post-9/11 sales slumps and maintaining domestic production despite component sourcing issues.