Read Time: 7 minutes

Nick Martin is the Co-Founder and COO of Carbon Reform, Inc., where he’s making waves in the carbon capture industry. With a degree in chemical engineering from the University of Delaware, Nick has always had an entrepreneurial spirit inspired by his father’s business ventures. After the loss of both his parents, he launched a podcast that connected him with like-minded founders and ignited his passion for social impact. Now, he’s dedicated to developing innovative solutions that improve air quality and promote sustainability. In this article, we’ll explore Nick’s insights on entrepreneurship, the challenges he’s faced, and his vision for a better future.

I really appreciate you taking the time to join us today. Let’s dive right in, can you share your entrepreneurial journey and what inspired you to start your business?

The entrepreneurial bug has always technically been in me. My father co-founded and ran a chimney sweeping company back home in Boston. I remember him always staying up late writing estimates, talking to customers, and witnessing the general commitment he had for his business. It’s funny because I remember joking that I would never get anywhere near the dirtiness of the chimney sweeping business, and here I am at Carbon Reform creating solutions for HVAC systems inside commercial buildings!

What I think was the ultimate catalyst for diving head first into the startup space was unexpectedly losing both of my parents in 2017 and 2018. To help grieve, I decided that I wanted to travel, to get out and explore the country and talk to people and share my story. I ended up launching my own podcast, “Startup My City”, where I was interviewing founders focused on scaling social impact businesses. My focus was talking to founders in cities that didn’t identify as startup hubs – be in Nampa, Idaho or Nashville, Tennessee. Through hearing their stories, sharing my recent losses, it really motivated me to dive full into the space.

But I knew I wanted a partner in crime if I was going to make something magical happen. It was the Summer of 2019 when I met my Co-Founder Jo Norris at a networking event in Delaware. We instantly realized we shared similar backgrounds, values, and motivations to start companies. The rest is history!

That’s amazing—finding the right partner can make all the difference. Speaking of making things happen, what were some of the biggest challenges you faced when launching your business, and how did you overcome them?

One of the biggest challenges early on was raising initial capital because we wanted to own our own IP. To make that happen, we raised funds from friends and family and secured grants to get things moving. Another challenge was shifting away from the perfectionist mindset that engineers and scientists (myself and my co-founder being guilty of this) often have, focusing instead on developing a minimum viable product. We overcame that by building a strong board of advisors and setting strict goals and deadlines to keep us on track.

How has your personal background and experiences influenced your approach to entrepreneurship?

Before I was an engineer, I was a saxophonist, and my background in music has had a big impact on how I approach entrepreneurship. Being a musician has taught me creativity and adaptability, which I’ve applied to problem-solving when building a startup. Leveraging that creative mindset alongside my technical training in chemical engineering has allowed me to think outside the box and come up with innovative solutions, especially in such a nascent industry that is climate technology.

What are the core values that drive your business, and how do you ensure they are reflected in your operations?

At Carbon Reform, our core values are at the heart of everything we do. **Sustainability** is our primary focus, driving our mission to reduce carbon emissions and improve indoor air quality with innovative technology. We are **innovation-driven**, constantly pushing boundaries to create solutions that not only address climate challenges but also deliver tangible results for our clients. **Collaboration** is key; we work closely with partners, customers, and stakeholders to create shared value. We also believe in consistently collaborating internally, leveraging our team’s unique skill sets. We believe in **empowering** our team and the communities we serve, making sure that our technology is accessible to all, including underserved areas. Lastly, we are **socially responsible**, always ensuring that our business decisions and operations reflect our commitment to making a positive impact on both people and the planet. These values are ingrained in our daily operations, from product development to team culture and external partnerships.

Can you describe a pivotal moment in your business that significantly impacted its trajectory?

A pivotal moment for Carbon Reform was closing our first institutional round of investment at the end of 2022. The capital immediately accelerated our growth, allowing us to hire new team members, secure our IP, and advance both market entry and R&D efforts. Beyond the financial impact tho, this round connected us to a network of experienced investors who were invested in our long-term success. Even as we continue to raise additional funds, this initial group remains a core part of our support system, helping guide our trajectory.

Letting go of perfectionism must have been tough, but it sounds like you found a great way to move forward. Once you got past those early hurdles, what strategies did you put in place to successfully scale your business?

To scale Carbon Reform successfully, we’ve focused on a few key strategies. First, we listen to the customer and iterate on our product based on real-world feedback, ensuring that we’re constantly improving. Second, we’re working to reach EBITDA positive as soon as possible so that we can fuel our growth internally, reducing our dependence on external capital. Lastly, from day one, we’ve aimed to build a world-class product that excels in both functionality and design, positioning us to stand out in the market and meet the high standards of our customers.

How do you stay innovative and adapt to changes in your industry?

We take a well-rounded approach. We attend trade shows and industry events to stay updated on the latest trends and technologies. We subscribe to podcasts, newsletters, and other industry resources to keep informed. Additionally, we regularly engage with advisors and investors who provide valuable insights. Hiring diverse talent with varied backgrounds has also been key, as it brings fresh perspectives. Ultimately, we prioritize building a team that is naturally innovative and adaptable to ensure we evolve with the industry.

It’s been a real pleasure hearing your insights today, Nick. Thank you for taking the time to share your journey with us. We’ve covered some incredible ground, and we’re excited to announce that there will be a part two of this conversation—where we’ll dive into topics like leadership, financial management, personal growth, and philanthropy. Stay tuned!

Marc J. Bernstein JD, ChFC®, CLU®, CAP®

Financial Planner and Consultant, Bestselling Author, and Creator of the Forward Focus Forums

Marc helps high performing entrepreneurs and business owners create a vision for the future, accomplish their business and personal goals, financial and otherwise, and assists them in following through on their intentions.  Marc recently co-founded March, a forward-looking company with a unique approach to wealth management.  He captured his philosophy in his #1 Amazon Bestseller, The Fiscal Therapy Solution 1.0.  Marc is also the founder of the Forward Focus Forum, a suite of resources tailored specifically to educate and connect high performing entrepreneurs, and to help them realize their vision of true financial independence. The forum includes;

• the Founders’ Forward Focus Forum: a series of articles focused on entrepreneurship
• the Founders’ Forum Radio Show and Podcast: featuring interviews with some of the area’s top founders and their experiences in business
• the Manufacturers’ Forward Focus Forum: a specialized resource group for owners/founders of manufacturing companies, including a private Facebook group; a private discussion group for high performing leaders of manufacturing companies to share resources, news, network with each other, and collaborate