Interview with Inventor Jared Joyce- ABC's Shark Tank Investors Won't Wine or Dine Him, But His Phone is Still Ringing Off the Hook!
I was able to catch up with inventor and colleague of mine Jared Joyce who I collaborate with on Quirky, and thought with his recent spotlight appearance on Shark Tank it was about time I did an interview with him. As always Jared never fails with under-promising, over-delivering and providing real value. Check out our e-mail Q & A interview below:
As of late you have been getting a lot of attention because of being on Shark Tank. Your episode is slated to re-air in a few days, is that right?
Yes, the original air date was 2/24/12 and a lot has happened over the last 14 weeks.
Why don't you tell my readers a little about how you came to start inventing things in the first place.
While completing my freshman year of college I found that I loved Architecture even more than I thought I would. The only problem was that the lifestyle was ridiculous. Putting in week after week with 100 hours a week going to the Architecture curriculum I started to wonder in my non-delirious hours how I could beat the system. Could I beat Architecture? Frank Lloyd Wright had three wives and so did my professor, was this the only standard available for successful Architects? I began to kid with myself (this would have been while talking to myself during the delirious hours of building my Architecture models) that if only I could invent something, I could patent it, become financially free, and then do as much or as little Architecture as I wanted.
What is the invention you are most proud of?
I of course love all of my inventions for different reasons, but I feel that my 5 Minute Furniture has the greatest chance of being relevant long after the patents expire.
How has the retail industry reacted to the products you have created in the past, like your 5 Minute Furniture?
I get a lot of, “We love it! We want it! Do you own it?” Then when I inform them the product is only patent-pending they say,“Oh, get back to us when you own it.”That’s a better reply than if they had said,“That’s a terrible idea never call us again!”But it’s still not the answer you want to hear.
Now that you've been on Shark Tank what opportunities have presented themselves to you?
After the first airing of my episode I got contacted by about 100 different people with interest in 5 Minute Furniture and other products in my portfolio. That created a significant shift from me typically having to generate interest in my work to where I now am simply figuring out how to best manage the interest in my work. Being on Shark Tank has also generated more speaking engagements and other TV opportunities. In March I gave a TEDx talk and most recently I was in the top running for being the new co-host of ‘Invention USA’ on the History Channel.
Has being on the show made it any easier to get past "gatekeepers",has it given you a type of credibility as an inventor?
I wouldn't say that being on Shark Tank is what gets you past the “gatekeepers”. Shark Tank simply helps to bring you refined traffic and interest in your product or service. Having success in the market and building a reputation for making other people money – that is what I think makes it (little by little) easier to get past “gatekeepers” in this industry.
What is the longest amount of time you have spent on developing one of your ideas? What is that idea?
I have spent over 5 years on several ideas, but it is my 5 Minute Furniture that I have been working on the longest. This is an invention that I have been working on since I was in college. Below is the outline of milestones over the last 10 years:
2001 – I came up with the idea
2003 – I perfected the technology
2004 – I raised the first round of investor funding
2006 – I raised the second round of investor funding
2010 – The first patent issued
2011 – The second patent issued
2011 – I present the technology on Shark Tank
2012 – I partner with Edison Nation to commercialize the technology
I think it is clear from Jared's experiences and like many inventors like him, if you are passionate about this field of work and love what you do, you just have to stick with it. Believe in what you are doing and the service you provide for others by doing it. Jared leaves us with a few parting words for those wanting to delve into inventing...
For those of you with your own inventions remember that the journey of a thousand miles begins with the first step. Whatever you can do or dream you can begin it! Boldness has genius, power, and magic in it! :)
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