$75M Raised, This $15K Machine Folds Your Laundry, $35M 2016 Revenue with Seven Dreamers CEO Shin Sakane

Shin Sakane

In Episode #615, Nathan interviews 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.

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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
    • 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
    • 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
    • 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
    • 11:15 – Seven Dreamers has spent $15M for product development
  • 11:33 – Shin shares how they came up with the idea of laundroid
    • 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
    • 15:30 – “Everything counts”
  • 16:12 – The nasal airway stent is currently their biggest money maker
    • 16:25 – Average MRR $1M
  • 16:53 – 2017 goal is $80M
  • 17:07 – Seven Dreamers are working on their sales and marketing
    • 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:

  1. Think outside the box—have a solution to a problem, then create a product.
  2. Study and know your market well so that your product speaks directly to a need.
  3. 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