✅ 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.
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. Cory 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.
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
Comfortably over $10 million in total revenue.
The biggest factor is customer success; validating that people need and want the invention.
Very hands-on; initially did most of the work ourselves due to limited funds and later worked with a great attorney.
Creating a device that could last a decade on a single battery charge and communicate with any iPhone without user setup.
Focus on reliable sourcing of materials, considering environmental and geopolitical factors to ensure sustainable production.
