Ever dream of taking a wild product idea and turning it into a $50 million exit? Your co-host (and today's guest) Joe Lemay did just that with Rocketbook.
His initial idea was an app to digitize whiteboards in real-time. When that didn't pan out, Joe pivoted hard - creating the Rocketbook, a reusable notebook you could literally microwave to erase and reuse. This wacky "microwave to erase" gimmick went viral on Kickstarter, raising over $1 million. But actually manufacturing the microwavable notebooks was a nightmare...
Hear the full story of constant pivots, huge challenges, and 24/7 hustle behind this wild entrepreneurial journey.
00:00:00 - From Engineer to Entrepreneur
00:03:50 - The Whiteboard App
00:09:15 - Pivoting to Notebooks
00:13:25 - Going Viral: Microwave to Erase
00:19:20 - $1 Million in Pre-Sales
00:22:20 - Manufacturing Nightmares
00:26:45 - Surviving by a Thread
00:30:10 - Shark Tank Roast
00:31:25 - A Wipeable Wonder
00:33:20 - Crowdfunding Kings
00:38:15 - Word-of-Mouth Magic
00:41:30 - Brick & Mortar Struggles
00:44:50 - Exploring Exit Options
00:53:50 - Selling to Bic: The $50 Million Deal
00:56:40 - Post-Exit Life
01:00:05 - Rapid Fire
01:04:50 - Wrapping Up
ABOUT THE HOSTS:
Will Nitze is the Founder & CEO at IQBAR - America's leading "brain + body" nutrition startup. With minimal funding, Will has taken IQBAR from zero locations and zero in revenue in 2018 to 10,000+ doors and a projected $50 million in sales in 2024.
Joe Lemay founded Rocketbook with business partner Jake Epstein. After being featured on “Shark Tank”, where the sharks passed on a chance to invest – Joe would go on to grow Rocketbook and sell it to BIC for 40 million dollars just three years later.
Connect with Joe Lemay:
LinkedIn: https://www.linkedin.com/in/lemayjoe/
X: https://twitter.com/lemayjoe
Instagram: https://www.instagram.com/lemayjoe/?hl=en