Company Stats

• Revenue: $10 Million
• Patents Held: 3

Episode Highlights

✅ Customer discovery and validation are crucial for successful inventions.

✅ Filing patents requires hands-on work and strategic narrow focus.

✅ Sustainability and reliable sourcing are key concerns in the electrification transition.

Episode Summary

In this episode of "Failing to Success," we delve into the journey of Cory Hewett, a prolific inventor and entrepreneur in the electrification sector. Cory shares insights on generating over $10 million in revenue from his inventions and the importance of rigorous customer discovery in validating business ideas. He emphasizes a hands-on approach to filing patents, highlighting the strategic decision to focus narrowly to ensure defensibility. Corey also explores the significance of sustainable and reliable sourcing of materials for electric vehicles, emphasizing the need for innovative solutions in the electrification transition. His journey from vending machine challenges to groundbreaking patents offers valuable lessons for aspiring inventors and entrepreneurs.

Notable Questions We Asked:

Q: How much revenue have your products generated?

A: Comfortably over $10 million in total revenue.

Q: What is your process for taking an idea and deciding it's worth pursuing commercially?

A: The biggest factor is customer success; validating that people need and want the invention.

Q: How hands-on are you with filing patents?

A: Very hands-on; initially did most of the work ourselves due to limited funds and later worked with a great attorney.

Q: What was the unique challenge your inventions addressed?

A: Creating a device that could last a decade on a single battery charge and communicate with any iPhone without user setup.

Q: How do you approach sustainability in the electrification transition?

A: Focus on reliable sourcing of materials, considering environmental and geopolitical factors to ensure sustainable production.

Chapters

00:00 Intro

00:09 Company Stats

00:28 Decoding the Invention Process

01:47 Navigating Patent Challenges

02:49 Innovations in Electrification and Technology

04:51 Exploring Electric Vehicles and Material Science

07:37 Venturing into New Business Horizons

09:07 Connecting and Sharing Insights

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#Innovation #Entrepreneurship #CustomerDiscovery #PatentStrategy #Electrification #Sustainability #ElectricVehicles #MaterialScience #StartupJourney #BusinessInsights