Maxwell Cohen is the founder, CEO and president of Peel Away Labs, the innovative start-up company that developed Peelaways, the bedding industry’s first multilayered, disposable, waterproof fitted sheet designed for the home, industrial and healthcare markets. While attending the University of Arizona, Maxwell observed students were not changing their bed sheets because stripping the bed, doing the laundry and remaking the bed were such a hassle. He also noticed his grandparents were struggling to change their own fitted sheet. Realizing this was a challenge for multiple life stages, including parents of toddlers, Maxwell knew there had to be a better way. As a result, he created the patented solution, Peelaways, enabling consumers or health professionals to simply peel away the top layer to reveal a clean sheet below in seconds. Maxwell’s entrepreneurial spirit and sheer determination led him to raise $1.3 million dollars in funding after three years of research and development resulting in a superior product. Maxwell has appeared on ABC’s Shark Tank. Maxwell studied Environmental and Water Resource Economics at the University of Arizona, where he graduated in 2013.
Entrepreneurial Role Models:
Maxwell’s Mother and Father
When business started difficulties overcame:
“when you start a business it’s all about leadership. Everything that is bad that happens is my fault, everything that is good that happens is my employees fault. So I’ve always been lucky enough and driven enough to be captain of pretty much every team I’ve ever been part of growing up. Whether it was soccer, lacrosse and funny enough bowling and volleyball. And the coolest part is when you look back I wasn’t the best player on the team. You know growing up usually the best player on the team is going to be the coach, the captain, the leader. But now that I look back I have recognised that my coaches, my teammates, even though I wasn’t the best player on the field believed that I could lead team to success”…[Listen for More]
Favourite Books:
- Shoe Dog: A Memoir by the Creator of NIKE Book by Phil Knight
- What Every Angel Investor Wants You to Know: An Insider Reveals How to Get Smart Funding for Your Billion Dollar Idea Book by Brian Cohen and John Kador
Favourite Quote:
“We all see the same thing But from a different point of view” Bob Dylan Tangled up in blue
Recommended Online Resources:
LinkedIn – is a business and employment-oriented service that operates via websites and mobile apps. Founded on December 28, 2002, and launched on May 5, 2003, it is mainly used for professional networking, including employers posting jobs and job seekers posting their CVs.
Best Advice to Other Entrepreneurs:
“keep on keeping on. And back to having a great equilibrium. Be able to focus your time and effort on four, five, six things… Nothing is going to go according to plan – that is my biggest piece of advice. When you become an expert in your industry you are going to learn more and more that might allow you to pivot into a better direction than your original plan and there is nothing wrong with going off of your original plan. A plan is a living thing, your budget is a living thing, your pitch deck is a living thing. Nothing is static in a business you have to make sure to be fast smart as quick as possible, get wise, learn from as many people as you can and surround yourself with the smartest intellectual people that you trust. But it doesn’t mean they are always right”…[Listen for More]
More About Maxwell Cohen:
Neil’s Quote at the Beginning:
“Ideas are commodity. Execution of them is not.” Michael Dell, chairman, and CEO of Dell
Other Quotes From the Chat with Maxwell Cohen:
- “as the journey goes on there are many mistakes but I don’t look at them as mistakes but as hurdles. We make sure that we don’t allow fatal mistakes to happen – those are the ones that you can’t overcome, those are the ones that only time and money can probably beat. But when it comes to real life it’s not specifically the mistakes it’s the business that we are in. And what do I mean by that? Shipments are always going to be late here and there. You can’t get scared you have to recognise…”
- “Culture is incredibly important especially when you start building out a team. Everybody has to believe what you believe and feel incredibly comfortable doing it. Obviously I want to push people’s limits a little bit but I need them to have the fire in the belly like I do, I need them to work as hard and execute as hard as I do”
- “you have to be able to deal with the terrible days to get to the really really good days, the terrible months to get to the fantastic months and to success. But of course you have to make sure that successes outweigh the failures”
- “I like to work with smart people”
- “you have to become smart fast there is no time not to improve”
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