When you hear a canary singing in the coal mine, you should stop and listen. Without torturing the metaphor too far, this is how I felt when I started working with Megan Glover at 120Water in 2017 as she started to build her business. The success of a business is predicated on the talent of the people running it, and Megan was important because she was one of the first brilliant CEOs who was truly new to water. She is at the vanguard of exceptionally smart, driven company leaders who appeared at the end of the 2010s and were the predicate essentially of BIV coming into being. We don't get to do our job without enough people as good as Megan. I love this conversation covering everything from strategic marketing to advice to board members. Please enjoy my conversation with my friend Megan Glover.

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For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205

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Megan Glover, Co-founder and CEO at 120Water, joins Tom to discuss the role of strategic marketing in her organization’s trajectory, emphasizing market analysis, customer understanding, and the importance of a quantitative approach. Together, they delve into the genesis of 120Water, its pivot from a consumer focus to serving municipalities, and the significance of regulatory drivers like the lead and copper rule. Megan reflects on talent in the water sector, the evolution of her role as CEO, and offers advice to founders regarding risk-taking in particular.

00:00 - Why Talent Defines Startup Success

02:52 - The Role of Strategic Marketing in Water Tech

05:17 - Market Research: Understanding Customers Before You Build

07:19 - The Origin Story of 120Water

09:36 - The Business Pivot: From Consumer to Municipal Focus

12:07 - How Water Regulations Create Business Opportunities

14:17 - The Future of Lead, PFAS, and Emerging Contaminant Rules

16:50 - State vs. Federal Water Regulations

19:46 - Consumer Awareness vs. Action in Water Quality

20:56 - The Evolution of Lab Testing & Data Standardization

22:49 - The CEO Journey

24:10 - Navigating Board Relations & Investor Alignment

27:08 - Attracting & Retaining Talent in the Water Industry

29:17 - The Future Vision for 120Water

30:42 - Managing Cash Flow While Scaling in a Slow-Moving Market

32:10 - The Role of Partnerships

33:20 - The Art of Negotiation for Water Entrepreneurs

35:13 - The #1 Advice for Water Entrepreneurs

Links:

Burnt Island Ventures: https://www.burntislandventures.com/

Megan Glover: https://www.linkedin.com/in/megancglover/

120Water: https://120water.com/

SM Material

Key Takeaways:

"The success of a business is predicated on the talent of the people running it."

"Before you can create, know who the creative is for."

"Regulatory demand is the number one driver for change in the water industry."

"Take the risk. The water industry is here to support you and wrap their arms around you."

"Partnerships can be a phenomenal tool. Win fast and fail fast."

"Manage your cash. Sales cycles in water take twice as long as in other startups."

"Every stage requires reflection."

"People are concerned about water quality, but not willing to pay for the solution."