Welcome to the personal blog, of Eric Corl, where he shares experiences from starting and growing businesses over the last 15 years. EricCorl.com was created to provide entrepreneurs and small business owners insight Corl gained because of his personal wins and losses.
Currently, Corl is the President & CEO of Idea Buyer, a company recognized by Inc. Magazine three years in a row on the Inc. 5000.
Eric Corl is currently based out of the great state of Ohio. That’s right, the state mentioned most on TV is also a great place to start and grow a business. Corl moved to Columbus to attend THE Ohio State University and is proud to remain a part of the city’s growing entrepreneurial community.
Eric Corl’s Achievements include:
- A 3X Nationally Recognized Inc 500 & Inc 5000 company founder.
- Small Business Administration Main Street Leader.
- One of the Top 100 Entrepreneurs in the Country by the White House.
Eric Corl has joined the Biz Journals Leadership Trust.
To answer an inquiry about investing in businesses. Corl is open to reviewing offers. Previously, he has invested in companies that need funding to supply the demand they have. Contact him directly at EricCorl@gmail.com to discuss further.
Corl has interest in getting involved in innovative product and app-based businesses with a clear strategy for monetization. If the entrepreneur does not yet have this understanding, then Corl recommend more education.
Corl has received a lot of messages asking two common questions;
- Is Eric Corl available for speaking engagements?
- Does Eric Corl provide mentoring to small businesses?
Check the FAQ for answers to these questions and more.
Eric Corl Biography
Eric Corl was born in Westlake, Ohio in 1985. He states that he had a normal early childhood, playing outside, eating bugs, riding bikes around the city without care, skateboarding, and watching Double Dare.
Alongside that, Corl grew up in an entrepreneurial family and had the opportunity to work in his family’s business from a young age where he credits gaining much of his work ethic.
“My family was very entrepreneurial. My parents have an office furniture re-manufacturing company. You take old office furniture and essentially recycle it. A lot of it, through an intense breakdown, strip, fix, replace, and renew process. My grandparents owned a few antique shops and spent the weekends going to garage sales and flea markets – looking for the the unappreciated treasures. I saw both the consistent and the variable.”
“Some of my favorite childhood memories are from working with my brother and sister in my parent’s warehouse in Lakewood, Ohio. Early on, I learned how to work hard. We were given a lot of freedom but were expected to contribute. My first wage was $2 an hour sweeping floors, sorting screws, and folding boxes. I loved it. As we got older, we did everything from unloading semi-trucks to stripping panels and sanding tops. It was hard work but was very rewarding to see something once old get a new life.” Corl said.
“On one hand, I worked on many weekends helping my Dad, and during the week my Mom would be bringing home EKG’s and sheep eyes to dissect. I had a profound interest in becoming a doctor from an early age and I’m still fascinated by science and health.”
In 2000, Eric Corl began attending Lutheran High School West where he was in Ski Club and on the soccer team. He became intrigued with business when he was given a copy of “Rich Dad, Poor Dad” by his mother. At the age of 16, he was hitting the library every day after school to read every business book he could get his hands on.
Early Books that Helped Shape Eric Corl:
- Rich Dad, Poor Dad
- Think and Grow Rich
- Awaken the Giant Within
- How to Swim with the Sharks
- Pushing the Envelope all the Way to the Top
- Man Search for Meaning
- 48 Laws of Power
- The Intelligent Investor
- The Warren Buffett Way
- The Road Ahead (Bill Gates)
- The 7 Habits of Highly Successful People
- Maximum Achievement
- 21 Irrefutable Laws of Leadership
He graduated with honors and was accepted directly into the Fisher College of Business at THE Ohio State University. There, he served on the leadership team of the Business Builders Club where he connected with an Alumni who recruited him to join the founding team of Startups.co. It was the first online funding platform to connect entrepreneurs with investors, and grew to over 400,000 members and 20,000 active accredited investors.
In 2007, Eric Corl left GoBIG and started IdeaBuyer.com, which was the first online marketplace to licensing and sell intellectual property. The company had early success, and was recognized in this article, Big Business. He was 21 at the time. During that time, he began partnering in ventures, and suffered a major setback with large investment in an oil tool patent he acquired.
“I had been brokering a patent and it had more interest than I had ever seen. I was receiving tremendous offers, and the patent owner said, why don’t you buy it. I did, and I ended up regretting it tremendously. While the tool received over $600,000 in pre-orders and discussions for tens of millions of potential, the economic crash that was to come wiped them all out. A fall out with the original patent holder led to a clash, and I shelved the oil tool business. I went back to what I was good at – brokering deals.” Corl said.
He became very good, and as he ventured more and more into helping entrepreneurs land big deals, he began partnering with them again. One thing he noticed – lots of them needed help raising capital. At the same time, Kickstarter began taking off. At the time, it was focused exclusively on funding the arts. Corl saw an opportunity in the space to launch a crowdfunding platform for businesses.
In 2011, Corl partnered up with an old mentor to launch Fundable. The company was fundamental in helping shape the business crowdfunding and jobs act landscape and has now gone on to help entrepreneurs raise over $500,000,000 for their companies with equity crowdfunding.
Press on Corl and Fundable:
Eric Corl has a Knack for Getting Companies Started
Fundable helps college admissions startup DecisionDesk close $1.25M equity round
Fundable: A website that generates $1 million a week in startup funding
in 2014, Corl exited the company to focus back full time on Idea Buyer. Idea Buyer then hit the Inc 5000 in 2016 (#197), 2017 (#165), and 2018 (#968) as one of the fastest growing privately held companies in the United States.
Corl and Colleagues Celebrating the 10 Year Anniversary of Idea Buyer
Eric Corl on the Future
Mr. Corl is continuing to look toward the future. He has a passionate interest in unique consumer products and technology applications that solve real problems or make people very happy.
Over the past two years, Corl and the team have thoroughly reviewed the projects they had the most success and fun with, as well as projects that inevitably became problematic, and have revamped their selection process. While he will humbly discuss the great wins the team has had, he’s quick to point out that they’ve had their share of failures as well.
“Over time, it became clear that we could not just select businesses to work with based on the quality of their idea. About 3% of the time, those people would end up being horrible to work with. They suck up vast amounts of your time and whine whenever something doesn’t go exactly how they envisioned it. They’re miserable to work with. It’s painful. That’s why you’ll see a very clear disclaimer on our homepage to try to filter out the problems. We’re working very hard to solve that problem by equally weighting the quality of the team members in our selection process.”