Shin Sakane. He’s the founder and CEO of Seven Dreamers. Seven Dreamers is daring to create technology that has never been seen in the world. Shin has a PhD in Chemistry and Biochemistry from the University of Delaware.
Famous Five:
- Favorite Book? – The Path
- What CEO do you follow? – Elon Musk
- Favorite online tool? — Facebook
- Do you get 8 hours of sleep?— No
- If you could let your 20-year old self, know one thing, what would it be? – “Get global experiences, visit so many different countries, cultures...”
Time Stamped Show Notes:
- 01:44 – Nathan introduces Shin to the show
- 02:20 – Seven Dreamers creates technology that the world has not seen yet
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- 02:30 – First product is the fully automated carbon golf shaft
- 02:35 – Second product is the nascent nasal airway stent
- 02:58 – There’s no connection between the products
- 03:16 – Seven Dreamers wanted to develop something that is not yet available anywhere
- 04:00 – Seven Dreamers was launched in 2011
- 04:20 – Seven Dreamers has raised over $75M
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- 04:29 – The money was mainly spent on product development
- 05:05 – The nasal stent currently has more sales than the golf shaft
- 05:27 – The golf shaft price is $1200 - $120K
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- 05:53 – The most popular model sells for $1800
- 06:10 – The golf shaft was launched in 2014
- 06:30 – 400 shafts/month are being sold
- 07:35 – The way to make a golf shaft
- 09:06 – Team size
- 09:45 – 2016 total revenue
- 10:30 – It took Seven Dreamers 11 years to develop laundroid
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- 11:15 – Seven Dreamers has spent $15M for product development
- 11:33 – Shin shares how they came up with the idea of laundroid
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- 12:13 – Laundroid was initially limited
- 12:50 – Laundroid’s price is $15K
- 13:38 – The 3 products are completely different—from the suppliers to the technologies
- 14:08 – Most of the product ideas come from Shin
- 14:43 – The last round they raised
- 15:03 – Shin shares the valuation of each of their products
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- 15:30 – “Everything counts”
- 16:12 – The nasal airway stent is currently their biggest money maker
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- 16:53 – 2017 goal is $80M
- 17:07 – Seven Dreamers are working on their sales and marketing
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- 17:14 – “We do our own marketing”
- 17:34 – Advertising cost
- 18:40 – Seven Dreamers spent money on sponsoring athletes
- 19:09 – The number of golf shaft complete sets that have sold
- 21:15 – The Famous Five
3 Key Points:
- Think outside the box—have a solution to a problem, then create a product.
- Study and know your market well so that your product speaks directly to a need.
- Be creative and innovative.
Resources Mentioned:
- Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
- Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
- Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
- The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
- Show Notes provided by Mallard Creatives