Mar 20, 2018
Let's get real for a moment. Have you ever had an idea that you thought was brilliant? Maybe it would make a massive impact on your bottom line. Or maybe it would solve your company's biggest challenges? So many of us have had those ideas. So what did you do with it? Did you shove it deep down into the recesses of your mind because you didn't have the time or energy to pursue it? Did you rush to present it to those key stakeholders and they shot it down before it could even breath life? So many of our ideas die early before they've even hit daylight. So that got me thinking… why… why do so many ideas hit the graveyard so early? And with that question in my mind, I asked Mark Aramli, the inventor of BedJet® to come onto Inside LaunchStreet. He has taken a simple idea for keeping your bed at just the right temperature and turned it into a massive business.
Key Takeaways:
[2:38] You might be surprised to learn that Mark is the world’s biggest supernerd. His favorite sci-fi show is Doctor Who.
[3:46] Mark shares his experimental journey through founding BedJet. The first BedJet® was designed on his kitchen table.
[6:15] Listen in to find out the magic formula Mark has used to compete with the big dogs to create a superior product and end up with the number-one-ranked product in its class.
[10:33] Tamara talks about her uncomfortable personal story about using a heating blanket. The BedJet® can create a sauna-like heat in sixty seconds.
[12:20] Mark has learned that you don’t need million dollar budgets to create new products and services.
[14:45] Mark believes that there’s no upside to biding your time. Time and time again, the value of the idea is meaningless unless you act upon it. He shares a case study about filing patents for BedJet®. The value is not really in the idea, it’s a warehouse full of products that you can sell.
[17:36] Why is the chasm so large from idea to testing viability? Mark feels that most people just don’t know the first steps to run the process. There are both a knowledge and a money gap. The biggest piece of advice he can give entrepreneurs is to hang on to your day job as long as you possibly can. It’s a big mistake to jump all the way in.
[21:30] Should you pursue all of your “aha” moments? Mark and Tamara discuss Mark’s Shark Tank experience. Mark reminds listeners that the only opinion that matters is the paying customers that open their wallets to buy it. You must validate with customers. Tamara shares the inception of Tough Mudder.
[25:40] Mark was not prepared that the Shark Tank would instantly hate his product. Even so, the takeaway was hugely positive. The episode aired the week he started shipping BedJet®. Mark believes that it’s imperative to have a thick skin and an internal well of persistence and resilience to start a successful business.
[30:05] Tamara’s dad gave her some powerful advice. “Remember when you’re up, that you were once down. And, remember when you’re down, that you were once up.”
[30:36] What’s in the future for BedJet®? Mark’s advises that it’s very dangerous to be a one trick pony.
[32:53] Tamara asks LaunchStreeters to think about how they can get a BedJet® and what formula they are developing to do things differently than the competition.
[33:26} Connect with Mark at BedJet.com and at info@bedjet.com.
[33:45] Get introduced to the three pizza rule. Find out why Mark follows the one pizza rule.
[34:42] Mark leaves LaunchStreeters with his top piece of advice: Seek the customer’s validation. Friends and family are a bit biased. Tamara talks about renting a mall kiosk, it's a great way to gather feedback.
[37:04] Tamara asks listeners what you are going to do today to bring your ideas to life and get feedback. Go to Innovation on Demand to help bring your ideas to light.
If you are ready to:
get buy-in from key decision makers on your next big idea
be a high-impact, high-value member that ignites change
foster a culture of innovation where everyone on your team is bringing innovative ideas that tackle challenges and seize opportunities...
Join us on LaunchStreet — gotolaunchstreet.com
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