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Entrepreneur Stories 4⃣ Inspiration

091: Creating a Multimillion Dollar 🔙 Product with Bing Howenstein of Backjoy

Entrepreneur Stories 4⃣ Inspiration

Millionaire Interviews Podcast & Sir Austin Peek

Careers, Business:careers, Business

4.72K Ratings

🗓️ 1 January 2021

⏱️ 52 minutes

🧾️ Download transcript

Summary

Bing Howenstein began his career making movies in Los Angeles, where he made feature films for the studios, TV movies for the networks, short films for the festivals, and even wrote some stuff too. All of that experience in creating stories was perfectly suited to telling the story of a brand, so he licensed and brought to the market a product called Backjoy, which grew into a company that makes multiple products that fix the way you sit. This Podcast is Sponsored By: Blinkist gives you key ideas from the world’s best nonfiction books in 15-minute text and audio. Learn something new everyday with unlimited access to over 2,500 of the world’s best titles in 19 top categories. Get 7% off & your first week free with this link: millionaire-interviews.com/blinkist. StartEngine is the largest equity crowdfunding site in the USA. Over 170+ companies have raised $60 million using the platform. And 87% of companies successfully reached their minimum funding goal of $10k. Get 20% off your campaign using this link: millionaire-interviews.com/start. Gusto makes payroll a breeze full-service payroll for one simple price. And 72% of customers spend less than 5 minutes to run payroll. Get your first 3 free months using this link: millionaire-interviews.com/gusto. *** For Show Notes, Key Points, Contact Info, & Resources Mentioned on this episode visit here: Bing Howenstein Interview. ***

Transcript

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0:00.0

What's up everyone this is Gwen. This is JV. This is Jopoy aka DJ Shrimp and you're listening to

0:06.4

millionaire, millionaire interviews. Interviews. I went to pamphold it from bank seeping and got like

0:15.1

four credit cards each with 50,000 bucks on them and that's how I was funding some of the growth

0:19.4

of the business. My partner got into a horrific car crash. Literally broke every bone on the

0:28.8

bright side of his body including his neck. All of a sudden it was like okay this is me and I

0:32.8

got to figure this out. When you're solving a problem or a product solves a problem how does it

0:37.4

make people feel? Did they want it or did they need it? It's much more important have a want

0:43.7

than need. We're going to the winter and we're out in the boom docks and working with the first

0:48.8

tooling factory we were using we had to cross our river where there's like cows and stuff to get

0:52.8

this weird shack out the middle of nowhere. Hi I'm Bing Howenstein I am living in Boulder, Colorado.

1:04.2

My current company is called Bonfire Enterprises. We're an entrepreneurial shop that starts new

1:09.8

brands. Last brand I built was still operating it's a company called Backjo in the consumer

1:14.9

product space. Everything I'm doing is in the consumer product space that was in back care

1:19.0

obviously and now in a variety of different businesses. What are you explaining to us a little bit

1:23.0

about Backjo then? Backjo is a company that makes what I believe and fortunately many

1:29.8

have people believe is world's best seat cushion essentially. It's an orthotic for your back so when

1:34.3

you sit on it it improves your posture to the degree that you can believe back pain but also

1:38.9

strengthen your core, live more comfortably for all the hours that we sit at your desk all day.

1:42.9

This is the tool that you need and I spent a long time building up that company from what was an

1:48.5

original product and patent developed by a gentleman out of Utah named Preston Woollingham.

1:54.7

At the time I got involved there were no sales. We had to go make the product, figured how to sell it

1:59.1

and to dates. I know there's probably been three maybe four million of those and we expanded

...

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