Season 4, Episode 7. Becoming an Inventor with Eli Packouz
“The most basic skill you need is to be able to read. And I think if you can do that, if you are willing to put in the time and the work, you can learn almost anything.” – Eli Packouz
From ideation to realization, embark on a journey of ingenuity as Eli Packouz shares the challenges, triumphs, and the ultimate success of bringing Instafloss to life! Eli, a two-time founder, shares the story of his first company that was born from his brother's musician woes and led to a record-breaking Kickstarter campaign. He delves into the challenges of product development and the importance of scientific validation for their new invention, Instafloss. The device promises painless and effective flossing in just 10 seconds using water jets. Eli highlights the significance of listening to customer feedback and how they fine-tuned their messaging based on objections. The episode offers invaluable insights into crowdfunding strategies, funding decisions, and the crucial role of collaboration in building successful ventures.
Eli Packouz is a serial inventor and two-time founder. He started his first company, Singular Sound, with his brother in 2013; they have since launched eight blockbuster products. In 2017, he partnered with Dr. Ralf Raud and Dr. Ana Mascarenhas to create the first device that automatically flosses all your teeth in only 10 seconds — Instafloss. After five years of research and development, Instafloss is ready to change the world, one tooth at a time.
[00:00 - 12:42] What I Learned from Founding Two Companies
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Eli is a serial entrepreneur with a strong belief in the power of literacy to learn and achieve almost anything.
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He successfully founded and developed several products, including a music-related device, and later transitioned to a more ambitious project focused on oral health with the creation of Instafloss.
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Eli's journey in bringing Instafloss to life involved extensive research, scientific validation, and overcoming various challenges, resulting in a five-year journey to its upcoming launch.
[12:43 - 27:19] Solution to a Customer’s Problem
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Eli Packouz developed Instafloss, a product designed to provide an effective and painless flossing experience in just 10 seconds.
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He employed a tiered distribution strategy, starting with exclusive sales on their website, allowing them to AB test and gather valuable data before expanding to other channels.
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Eli's advice for entrepreneurs includes validating the problem they aim to solve, choosing the right partners with complementary skills, and believing in their ability to learn and adapt along the journey.
Key Quote:
"You have to believe in your ability to learn along the way. Anything you go into; you're going to be ignorant until you're done with it." – Eli Packouz
Connect with Eli Packouz
LinkedIn: https://www.linkedin.com/in/eli-packouz-390701149
Check out Instafloss at: https://instafloss.com/
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