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Tim Leatherman: An Inventor on the Cutting Edge
For Tim Leatherman, a broken-down car and constant search for pliers to fix it sparked the idea for an invention. Today, his Leatherman Multi-Tool has become a favorite of Mr. Fix-Its around the world.
Posted 5/ 17 10 at 6:00 AM | My First Million, Sales, Leadership, Starting a Business, Consumer Products & Services
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While there are many knives on the market, most lack a key component: pliers. That's why Tim Leatherman's invention, which features pliers through its innovative butterfly-like design, became the most popular multi-tool in the world. Today, Leatherman's tools have found their way into tool drawers around the world, as well as in pop culture, having been featured in TV shows like CSI and Survivor and movies like Speed and The Hurt Locker. The company employs more than 300 people and boasts annual revenue of more than $80 million.While Leatherman, now 62, is recently semi-retired, having shifted from CEO to chairman, he remains proud that his company is one of the dwindling number still doing most of its manufacturing in the United States. And to think, all this began with a broken-down Fiat in Amsterdam.
"Growing up, I did not have a strong interest in tools, making things, or inventing. That continued through college, even though I earned a degree in mechanical engineering. My first job after college involved sitting at a drafting table in a large room with about 300 other engineers and designing piping systems for oil refineries. I worked for a year and never went to a real oil refinery. I didn't last long there.
"When I was in college, I fell in love with a woman from Vietnam. After quitting my job, I followed her there in 1972. I was one of the few Americans of my generation to pay his own way to get to that country.
"Once there, we got married, and I started teaching English to earn money. One of my fellow teachers, who seemed to me a bit of a klutz, said that motor scooters were really quite simple, which shamed me into becoming interested in how things worked.
"Eventually, as the situation within the country began to deteriorate, I left with my wife and her family. After getting her family settled in the U.S., my wife and I decided to take a budget trip to Europe. We ended up staying for nine months. We bought a used Fiat in Amsterdam for $300. It broke down constantly. I was carrying a Boy Scout-type knife, but often needed pliers. One day, the idea came to me: add a pair of pliers to a pocket knife.
"I knew the Swiss Army Knife had been around for about 100 years, and it was a beautiful product. They were flawless multipurpose knives with blades and screwdrivers and scissors -- but no pliers.
"When we got back home to the U.S. in 1976, I asked my wife if I could build a prototype. She asked how long it would take. I said maybe a month. So, she went to work to support us, and I went into the garage with a file and a hacksaw to build the vision I had in my mind. It actually took me three years to finish a prototype I liked.
"I filed for a patent. Once I received my patent, I thought, like most inventors do, that I would just go to a big company, show them what I made, and they would pay me a million dollars. The problem was that, when I took my model to the knife companies, they called it a tool; the tool companies thought it was a gadget, and said gadgets don't sell.
"Four more years passed. My friend from college days, Steve Berliner, had been following my (lack of) progress. It became apparent to us that to get my tool to the market, we would have to make it ourselves. We formed a business partnership. We searched for a customer who would order enough tools to justify production. No luck.
"However, one prospective customer, the Early Winters catalog, suggested changes to make the tool less complex. I made a new prototype. Finally, in 1983, eight years after I started, we got an order from the Cabela's mail order catalog for 500 tools. We decided to go into production.
"Steve's dad had a metal working business, and he agreed to let us move my equipment from my garage to his shop and to use his equipment and employees on a subcontract business. We had $18,000 in capital.
"While we were starting production, Early Winters called and placed an order for 250 tools. Two days after Christmas that year, before we had even shipped them any tools, they called back and placed an order for another 500 tools. A week later, 750. Two weeks after that, another 1,000. They and our other customers were selling them as fast as we could make them.
"Turns out that we had created a new market segment. There was this huge latent customer base that was just waiting for a tool like the Leatherman. We started getting letters that said, "Thank you, where have you been all this time?" By 1993, just 10 years later, we were selling more than 1 million tools a year."
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Comments (Page 1 of 1)
Still can't take in on a plane.
Ihave one that my daughter gave me for Christmas and it is the handist tool that I ever had. Wish you good things for hanging in there and getting them into production.
Thankyou Tim and your wife this is the best tool ever when I go snowmobling up to 150 mile ride I make sure I have this tool with me! This year we fix a track that broke in half with the leatherman we was 23 miles from the trailer! If I only was granted one tool this would be it! I have had mone for over 20yrs and only broke it once and they fix it for FREEE What a company cna't say that about this stuped comp or my car! Thank you thank you
One of the best places to carry the leatherman is on board a sail boat. All sailboats need a fast fix at ever turn and all over the boats.
About ten years ago my wife bought me a Leatherman for Christmas. I thanked her of course but privatley I thought what a waste of money. By New Years it was on my belt and has been there every single day since. Some waste!
My wife said she is going to bury me with my trusty Leatherman. I do pool service and repair. I use this thing at least 20 times a day. I have one on my side and one at home in my watch case, so when I snap off a part of it, I go home and replace it. Two times in the past year I did not even make it home to replace it with my backup, I stopped at Home depot or Lowes and replaced it. I think I put it through more than it was designed to do. So I break about three a year. Still the best one out there. The only thing I wish they would do is not sell out, and do not produce and part of this tool in China... Nothing. all parts and printing should be made in the USA... The one I use is the Wave It cost @ $80.00 each,and I have not seen made in the USA on the last few I have purchased. I as well as many others would be willing to spend more on an Item that is total US steel and made here. You sell a great tool that was started here. Please keep it here..
I own four tools, the squirt p4,skeletool, wave, and the super tool. Recently I broke the squirt and the skeletool, they replaced them no charge, but shipping. Great company, keep up the good work.
I feel naked without my Leatherman
Lenny
I think that's an awesome invention. It has helped many people out of some pretty peculiar predicaments. In order to take an invention to industry you must protect your idea & work hard at promoting it. After I invented the world's smallest fishing rods & reels it took over 5 years to see a profit. Now my products are sold all over the world & in over 140 different countries.
M.D., President & CEO
Penfishingrods.com
http://www.youtube.com/watch?v=BcvXbbUxoWk
Dear Mr Leatherman,
I love and envy your invention!
That's a serious compliment since I too have succesful inventions; (one in Home Depot and one in Petsmart.).
Maybe you could help me out with some advice for me: I have about 150+- ideas for other things,(naturally, out of that group only 4-8 would turn out to be worthy of production.), but at 53 years old I admit to no longer having the energy to "shop for" a company to license my ideas. (I do NOT want to do my own production and would rather license to a very honest, nice and warm manufacturer!).
Anyway, since the great co. I previously licensed both inventions to, the wonderful co which went belly-up, (due to embezzlement), and re-licensed to the buyer without full examination of the buyer, I am miserable with the new licensee. I WOULDN'T DREAM of even discussing any of my other inventions to this horrible company now holding my patented and sadly licensed other 150+- ideas. But, I don't know another company with whom to "become family"; meaning to be treated very well and have my license terms TOTALLY followed and more. I LOVED those former guys! Sadly, they re-licensed me to a miserable, cheap, horrible guy who shouldn't have the honor of manufacturing and selling our country's greatest resource: the inventor.
(AS FOR SELLING ME TO A CROOK, I DO understand that the great guys that were my previous licensee were totally desperate and the buyer wouldn't make the buy without me included. It was the only time they EVER mislead me... but I understand total desperation.)
PLEASE write me with LEGTIMATE ideas and advice, ok?
I'm sure you've met and learned a huge amount in your "adventures", and I hope you'll PLEASE be kind enough to pass on some of your knowledge to help me out with a referal and advice if you can.
Thank you so much!
Wendy
w15608@aol.com
I have three leathermans. Will buy more as long as they are still made in America. If they ever go to China for production, I will never own another one. I support American made!