we value corporate branding. We have to do well in that area. Because of the Internet and social networks, we cannot hide anything or trick people. We have learned that the more honest we are, the more our business grows. In December 2016, we had an incident with Nascent the anti-snoring device that is one of our three core products. That business had been growing fast; sales were going up every month. Then a Japanese woman accidentally swallowed the device in her sleep. She called us and we told her to go to the hospital. The X-ray showed the device was in her stomach. It eventually came out, and didn’t affect her health Malta Email Address and she didn’t complain. The doctor reassured us that Nans Ent didn’t end up in her stomach through her nose. Nonetheless, we completely recalled all the products on January 17, 2017, to replace all the information documents.
Freed Vermeulen explains why unhelpful practices go unnoticed
It took us gulf email list five months to complete the recall; we lost at least US$20 million in revenue. That had a huge impact on a startup like us. Also, it happened just before a Series B investment round, and this delayed the signing of the contract for two weeks. But we knew we had to react quickly and completely, or our reputation would suffer. If there was a problem, we knew we had to be honest and trustworthy. We were afraid that people might say on the Internet, “Medical devices from startups are dangerous products.”
It paid off for us in the long run. It turned out that most comments on the Internet were very positive about us. “How can I survive without Nascent? When is Seven Dreamers going to restart the business?
unnoticed and suggests how rooting them out can help innovation.
In Yahoo auctions, the price of a box went from $42 to $400. This proved that the product was valuable to our customers. Our investors saw that as well. However, I expect to retire before I turn 60. And I want to establish one rule before I leave: Seven Dreamers’ CEO must be below 60 years old. Other employees could be older, of course; we have some employees close to 70 years old. But everything is changing so fast. I believe that it’s very hard for people over 60 to keep up. Some of the old CEOs of the big corporations in Japan are unbelievably smart and still energetic. But in the ranks below them are younger people who could potentially do even better. The old CEOs should understand this, and give way to someone younger.