Inventor to Founder: How an Idea Became a Patented Product Business

If you’re waiting until you “know everything” before you start, you’re already stuck. This episode takes you on an epic founder journey: What to build first and what to learn later.

📌What’s Covered:

• Why “get feedback early” can actually kill great ideas 
• The scrappy prototype path that turns a concept into something buyers understand.
• The part nobody glamorizes: what happens when manufacturers keep saying “NO."
• A contrarian go-to-market lesson: why major retailers are often the worst place to start
• The real growth unlock most founders underestimate: why one trade show decision can change your entire trajectory 

Todd Hanson is the  President of Compass Carts. Todd has led their patented utility cart system from concept to international partnerships, most recently expanding into Europe. 

After more than 20 years in corporate leadership at Wells Fargo, he transitioned into entrepreneurship, specialising in customer experience, leadership development, and large-scale business initiatives.

🌐Learn more at https://compasscarts.com/

🤝Connect with Todd https://www.linkedin.com/in/toddhanson1/

🚀The Founder’s Voice Quiz is the foundation for a client attraction system that works with your strengths, not against them. 

💛Share with a friend who would enjoy this conversation.

Thank you for listening in! See you next week.

Transcript

Priscilla (2): So if you've ever walked through a warehouse or hospital, a large facility, and you thought to yourself, wow, this is clunky, this is inefficient, this conversation is for you because today we're talking about how to turn a real world problem into a product. A company with someone who's actually done it.

Todd is the president of Compass Carts, a patented utility cart system. He's led from concept to international partnerships, including a recent expansion to Europe. Before that, he spent more than 20 years in corporate leadership at Wells Fargo, working on customer experience, leadership development, and large scale business initiatives.

In other words. Todd has lived on both sides of the table, you know, massive corporate machine. And now as an entrepreneur responsible for every decision, every customer, every cart that ships. So This episode, if you're a person who's had an idea, who's thinking of building a product stay clued in.

'cause this is gonna be exciting.

[00:01:00]

Priscilla (2): Thank you so much for joining the Entrepreneur's Kitchen. Todd, please, I'll start with who are you and what's your mission?

Todd Hanson (2): Priscilla, thank you very much. , I'm Todd Hanson. , Owner inventor of compass carts came up with the idea, like, Priscilla mentioned earlier we had , a problem when we were hunting and we had two different products. , One was a cart and one was a hauler. The, typical hauler you might see on the back of your SUV or, truck or rv, the carrying coolers or things like that, , kind of give you the picture.

It's a hard one to envision. You almost gotta kind of see it to understand how this works, but. Basically we had two pros and I thought, why can't those two things be one and the same? And that's really how the idea started.

Priscilla (2): Tell us about the moments that you realized that, okay, this can be. Product 'cause you're solving for, this experience when you're going hunting [00:02:00] and at what point do you say, this is not just, a me thing, wanting to put two things together, but this is a product that has a market.

Todd Hanson (2): You know, that's a great question. And the reason that's such a good or intriguing question is oftentimes when you come up with an idea, you, first thing you do is you share with your family, your spouse,, your friends, right? And, , getting the feedback from them is great. The challenges not to be disappointed because I received a lot of people's feedback that this was not a good idea.

, What are you trying to do? They couldn't envision it the same way you can. Getting feedback is really what you wanna do. It is not always the best thing. You know, maybe you have to develop your idea a little bit. Beyond, , being able to explain it or, or share the idea a little bit more before you share it.

But that was the key part is getting that idea out there, learning a little bit about it, getting some feedback. And then I believed in it , so [00:03:00] wholeheartedly that, , I started making prototypes just to see if it really would work.

Priscilla (2): Now, I'm thinking of your corporate background and then creating the prototype. How did you go about that? 'Cause some people think, okay, . I can't work with my hands I've been typing. That's all I know how to do is type.

But I have this idea. And how do I go about that?

Todd Hanson (2): You know, there's lots of different ways to do it. Fortunately for me, , I'm kind of a handyman. I like to tinker and. I've been doing that since I was young. Breaking stuff and taking stuff apart. I wasn't supposed to as a kid, you know, typical boy stuff, but, uh, so I was always very curious , and very handy.

So that really helped with me. So the very first version of what Compass carts is today was actually made outta wood wood and PVC pipe just to see if the concept had some, viability, I guess you'd say. , And it did. So that worked out well. We took it to the next stage, and then I started developing one out of aluminum, taking it a little bit farther.

And once I had the idea, the basic concept, [00:04:00] then it was easier to show other people and say, Hey, this is really what I'm thinking about. What are your thoughts? And once I got to that level, it made a big difference. But , like you mentioned, not everybody has that capability.

Right? So reaching out to friends, family, you probably know somebody , that has that capability that can help you along the way. As an entrepreneur, you need to make a lot of friends and you need to leverage a lot of people's expertise , that's what I had to do also with some of the final engineering and the design and, , getting it right, getting it safe.

Priscilla (2): when I think business ideas , I like the where you took it from. You took it from okay, let me build this thing and let me see how it goes. Whereas in some people immediately rush to, okay, I've got this idea, and then let me check if this is a allowed, if regulations allow this, and you run to the other end and then you talk yourself out of the thing slowly because you've rushed ahead to see the hurdles that are coming. What was your process like in terms of that, or what would you suggest to a founder who's thinking in terms of that?

Todd Hanson (2): that is fantastic question and here's why. I was just thinking about that this week , you're never gonna know everything. So [00:05:00] you need to start, before you know everything, you'll figure it out along the way. And the reason that's so powerful is because in the early stages of entrepreneurship or as an inventor, , you don't even know what questions to ask.

You don't know what problems you might see or what you're trying to solve. You just gotta get to the point where you feel comfortable enough and then move forward you'll learn stuff all along the way. It's a constant learning. , And listen to your customers. Once you have, , a product or an idea, let your customers tell you And you'll get all kinds of feedback. Careful., You're gonna get feedback sometimes that you don't like, but you, feedback is.

Priscilla (2): like that you had the resolve even though the first time you're telling it to people and they're saying no, this is not needed. But I also get the. Fact that sometimes people have to see the thing because they don't have the vision. You have, they have to see it already made. And then they're like this is obvious.

We obviously needed this. But , when you're doing it and you're telling people about it, they don't have the same, eye for that thing that you have. I'm interested to know, you're going through this getting feedback process. How are you [00:06:00] sifting through?

Okay, maybe that's. Something I should actually listen to and, okay. No, let my instinct override this one

Todd Hanson (2): , I'm a big fan of, Shark Tank and, , other inventor type , or not necessarily inventor, but small business, um, shows like that. , If you don't mind, , I'll share a story with you that was really powerful for me. Because there's gonna be, many times as an inventor or an entrepreneur, you're gonna want to give up and you're gonna have to look for those reasons not to give up.

And they'll be all around you, but you have to be aware of 'em and you gotta, you know, look for 'em. And I'll give you a quick example. I'm my first year into design development. I had the idea, and this is the first time I went to a manufacturer to make the product. And we already went through at the manufacturer, probably 11, 12 different designs before I finally had one.

And I had an invite to show at a major retailer because I showed him the very first rough draft. I said, Hey, this is just a rough draft. Uh, would you be interested , in talking with me about whether or not this is the kind of product that would fit? They invited me , [00:07:00] to pitch it to 'em. So very similar to a Shark Tank I finally had the product just about ready. I'll give you the quick timeline. We spent eight months. In preparation for the show, getting the product ready. The week before the show, we still didn't have a product.

We finally got the product at like three o'clock the day before and it didn't work. Things were broken, things didn't work as designed, and I am, I'm just an absolute mess, but I figured out the parts that we'd have to, fix before we go to production. So meanwhile, I've got a five hour drive to get to this presentation and , it's very Shark Tank like.

You have, 10 minutes to set up, 15 minutes to present, 10 minutes for questions, very aggressive. , I'm about halfway down and, , I'm not comfortable. , This is probably the biggest pitch I'm ever gonna have in my life. I even considered turning around , fortunately I had my daughter with me.

I apologize. I get a little choked up over this way. My, uh, my daughter was sitting next to me and she wanted a coffee, so we pulled into , a Starbucks coffee right by us [00:08:00] on the highway. And as we were pulling in a car pulls in behind us, pulls up next to me and says, what is that? That is really cool.

I tell you what, when they saw that on the truck and came in and actually pulled in to ask about it, I knew I was on the right track. You don't get something quite as positive as that along the way, but you have to take those positive, comments and positive feedback and just, use it, as a way , to power , your motivation, your energy, and you gotta go for it.

Don't give up.

Priscilla (2): Thank you for sharing that. That's so powerful. Look, you took your why with you. Your daughter was right there. Sometimes you gotta move with the why , as a sidekick when you're going places to keep you on track. But that nod that someone who doesn't know you, doesn't know what you're doing, has no idea.

Wait a minute,

you got something there. 

Todd Hanson (2): that was huge. I think back to that a lot. 'cause since then there's been a lot of setbacks along the way. There was times where I was wondering if I should keep going, , the feedback is there and the positive, opportunities are there and I'm glad I stuck with it.

' cause we really have grown since those days

and there's [00:09:00] so many 

things I've learned along the way. You'll always learn.

Priscilla (2): That's amazing, Todd. Thank you for sharing that because I think founders. Assume that when you have something great, it's just gonna be, up and up and up, 

Todd Hanson (2): Right. 

Priscilla (2): that this is the reality. But if you know the reality, then you're not gonna be thrown off by the first thing, or totally destroyed by the first thing that you encounter because you're thinking about, the process correctly.

Todd Hanson (2): Yeah. No, you're right. . . And it takes time, if you're selling to a major retailer, for example, it takes time for them to make a decision and they wanna know that you're gonna be successful and you're still gonna be here. So what I've learned is going after the major retailers, it's not a good starting spot.

, If you're gonna go into retail or gonna sell direct to consumer, , . Maybe do that first, you know, start small, prove it out a little bit further, and then go after the larger retailers, which is where we're at today now.

Priscilla (2): I'm thinking of the career that you had. Do you think your strategy to go straight to retail? I'm wondering how [00:10:00] much of the corporate life, . What you learned that helped you in terms of the way you were thinking about building your company and what you learned that didn't help you,

Todd Hanson (2): for me, , the thing that came outta the corporate side that's helped me the most is process. Just follow a process. Get a process in line, make sure, you're thorough. That's really the important part, , as you grow, , as you scale, you're gonna need to have processes in place.

Which is important for me because , I'm not a process person. I like to just go for it, right? Just here, , gimme the task. Let's get it done. That's me. having that corporate background has really helped I think that way. And I've tried a lot of different things along the way,

been in different parts of the corporate world. Priscilla, honestly, I thought I was in better shape to launch my own company than I really was., That's why I said at the beginning, you gotta start before you know everything, because you're gonna learn something new all the way along.

, Instead of being in just a [00:11:00] department, you are every department when you start. So that's why it's so important to get the people around you that can help you, whether it's legal, whether it's accounting, taxes, marketing. You need to have the right people around you to help.

Priscilla (2): , when you say process, I'm thinking to the person who's like, okay, what does he mean that he understood process. So they can see that. What do you mean by that?

Todd Hanson (2): Yeah, so a process meaning. Whether it's a production process for, in other words, what does it take to take a product and place an order with a manufacturer? What do they need in those steps? Everything from giving 'em design to paying for it, to shipping it to, you know, where you're gonna store it and all the logistics.

And that's a process. The next process might be a customer's buying process, right? Understand, what the steps of a customer is gonna go through from the time they first learn about your product to the time. They're trying to find more research about it, where they're trying to validate it.

[00:12:00] Maybe they're trying to justify it, in their own mind as far as pricing. So those are all the different processes that you have. And as a small business you really have to understand them all it's worth it to take time to write it all out, including the business plan.

, What are you gonna do from day one to, the end of the first year and then second year? What are your forecast? And I'll tell you this, it rarely do you stay on track with that, but it gives you a target and gives you a goal you know what to do with, and that's part of the process.

Priscilla (2): Wow. I like that you explained that because I think a lot of people, have that energy of you just wanna get into things, like you mentioned 

Todd Hanson (2): my weakness. 

Priscilla (2): and I think that's what makes people wanna be founders, because you don't want to have to, sit around waiting.

You just wanna get in there and get things done. And that's why there's this attraction to entrepreneurship. But that's significant what you said about process. When you don't have process, then when people aren't buying, you can't understand where the [00:13:00] breakdown is. And then you can't fix it because you don't understand what should have happened and then what should happen next.

, Okay, people are coming to the website, , they're clicking, but they're not buying. So when we're in the process, are you solving for ways and it's just like people aren't buying, you can't fix that.

Todd Hanson (2): Great. , It is funny you say that 'cause that's exactly what we're working on today. , We're trying to improve our conversion rates to the website , and adding. Improvements to the website that makes it easier for a customer to go from, I like this to, I wanna hit the buy button.

and we didn't even rehearse this ahead of time.

You're so good.

Priscilla (2): No, when you said process, what does he mean? I'm so grateful you broke that down. 'cause then it totally made sense 'cause I also had that where I struggled with, they're not buying, . And then I'm just doing a whole bunch of random things

Todd Hanson (2): Mm-hmm.

Priscilla (2): Because there's no process and the whole bunch of random things are not working.

'cause still, I don't understand why the random things are not working. was supposed to happen and then what happens next? And then what happens next? . This is good. let me go back to my [00:14:00] questions. What are my questions? Okay, you have this corporate identity.

You've learned, things like structure teams and brand behind you when you're in corporate and then you become a founder with a blank page with an idea. How do you rebuild your identity in that transition from okay, this is not Wells Fargo anymore. This is me building compass carts, and what does that look like?

Todd Hanson (2): You know , that's one reason I'm very fortunate to work for Wells Fargo. I spent some time in creating content for Wells Fargo. I had to understand brand identity, understand, , our corporate colors, our corporate marketing strategies. That alone really helped and writing that down to start with, because, six months down the road you're gonna go back and go, okay, what was that?

Or if you have to share that with our team members, or, , in my case with manufacturing, , [00:15:00] having that, part of my career. Was incredibly helpful. And you know, the other thing that was really helpful, Priscilla I'm gonna take you off your question here just a little bit, but

Going back to the careers I had or the jobs I had prior to launching my own company, one of 'em I really didn't like.

I was actually in manufacturing. It was very tedious for me. I was a machinist. , I basically made parts

and, , I really didn't like it. I, only lasted there about three months, but what I learned in those three months has been so valuable for me launching this company because I understood better how a product was made.

Going back to the process and the steps, , , I steer you off , the branding thing a little bit, but , sometimes you have a job or a,, a task that you don't like to do, they all come around it was really a helpful thing for me , , in growing or starting this company to at least have an understanding of how to go from step to step.

, To go through that process was really good.

. 

Priscilla (2): That's important [00:16:00] I just thought of how I had a call center job. , I think I lasted like a month and a half in that call center because I just couldn't take the calling someone and then having them yell at me for hours and hours and then hanging up and calling another person and having them yell at me again.

Todd Hanson (2): Right, 

Priscilla (2): but. Looking back, I was like, . I can't take this job anymore. But , now when you get a no and it's a polite, no, that's pretty good.

Todd Hanson (2): right you're exactly right. , Those are the things that. Every entrepreneur , can look back at and realize that it's part of who I am. It's what I've learned from those experiences, gonna make you a better entrepreneur down the road.

Priscilla (2): for sure, because I think people like, I hate my nine to five, but it's giving you the experiences that you're gonna need. As a founder, you don't want to. Start learning everything from scratch. 'cause really, it's so stressful, so painful. You at least wanna have a few things in there that you know.

Todd Hanson (2): You do. Yeah, you wanna have some basics, if you don't know, go ask. You probably have somebody in the [00:17:00] industry. From an inventor standpoint. If you've ever asked yourself, wouldn't it be great if,

and if you can't find the, if you can't find that idea or the solution, whether it's a, product or a service. You're probably onto something and you probably know somebody in that arena. So, leverage your friends. , And they may not be friends, but you can leverage salespeople , I reached out to a patent attorney to learn a lot about, the patent process , you're not gonna know everything when you start, and that's okay.

You can learn along the way.

Priscilla (2): I think that's the thing. People are waiting to know everything, Yeah, don't. it's impossible.

Don't just get started now. Todd, you've always been a person who tinkers and, plays around with things already. You had an affinity, to making things. , Give us a timeline of you see this thing, you have these two things that you think they could be.

One, you create the product you get. Take it to your first presentation. You have it now patented [00:18:00] and going forward. Yeah.

Todd Hanson (2): The process on that. For everybody, it's gonna be a little bit different. I'm a fan of Shark Tank and, Damon John says, , it can take 17 years to go from an idea to success. It doesn't happen overnight.

For me it took about six years. So the timeline was,, I started with the product in my garage advanced from a wood type to a. Metal using aluminum, validating some of the concept, the ideas. And once I had the basic concept, that's when, I went out to seek more professional help, an engineer, some product development.

And very fortunate. I've met great people along the way, but I've also had a lot of nos you know, like you mentioned , with , one of your jobs. I've had, plenty of manufacturers tell me no. So I spent about two years trying to find manufacturing to the point where a lot of people could say they could do it, but you couldn't do it in an affordable way, or you didn't have time, or, , a number of different reasons.

[00:19:00] So for me, it was a matter of asking people that I didn't know. How did you get to where you are in the production phase? How did you source products? , I ended up sourcing my products, , overseas as opposed to stateside just because I couldn't find, manufacturing here in the U.S. I ended up, going overseas.

But that process from the time I started with the idea to the time I actually delivered a product to a customer was six years.

So it could take time.

What helps along the way for me is to have a target, a date that I have to either present something to somebody or show something to somebody, , you need those deadlines out there. Otherwise, um, , if you don't have the deadline, as an inventor, I'm always tweaking.

I always wanna make it better. And if you don't come up with a deadline, , you're never gonna finish it. Have a target date when you're gonna launch, when you're gonna pitch it, , you can get those deadlines before you're ready. It just make means you gotta move fast.

Now you got, you have to meet these deadlines. So it's, it's good to [00:20:00] have deadlines along the way.

Priscilla (2): So in the six years, are you doing this full-time? Are you working and building the product?

Todd Hanson (2): Yeah,, when I first came up with the idea, I was still working for Wells Fargo. , I was doing a full-time job. We were busy. A lot of things going on , in the financial world during those times. , My career, I probably had three different positions within the company in those six years.

'cause I was advancing through the company , as I was coming up with this idea. So a lot of that was on the weekends. If I wanted to pitch it to a customer or an event, I would take time off of my Wells Fargo job to travel or spend time, you know, pitching my products or my ideas to, a buyer or a manufacturer or something.

, It's hard. You have two full-time jobs when you do it that way. , The thing that helped me, the reason I was able to do it is . I'm a little older, so my children were older, they weren't at home anymore.

So my free time, I was able, to leverage that a little bit differently than my kids were young and I wanted to make sure I spent time with them. [00:21:00] It's a little harder when you have a young family.

Priscilla (2): Yes, for sure. At the six years, you're now, going retail you're not going direct to consumer or you're doing both, in terms of , how are you getting into the market?

Todd Hanson (2): Yeah, I am doing both. So we are on our website, we're selling direct to consumer. In the meantime, I'm also growing, our retail distributors as well. So distributors are a little different than retailer distributors, kind of a middleman between the retailer and the manufacturer myself.

And they just , help get you more exposure. Is there a right way or a wrong way? I don't know. , We're going through 'em in kind of a parallel standpoint. Right now, my direct to consumer , is higher. But I think that's gonna flip real quickly where my distributors and my retailers will be the larger portion of my company.

Priscilla (2): so now I know you're going global. You're going, we're going into Europe now. Very exciting.

Todd Hanson (2): I'm very excited. 

Priscilla (2): very exciting. , At what point do you think, okay, this has gotta go [00:22:00] global. What is the thinking behind, going global. Most people feel like the US is such a big market, and I'm interested to know, why you made that decision, how you came to that decision.

Todd Hanson (2): I was pushed, if you want to know the real answer. I have a distributor in Europe that called me and asked about. Our product for Europe just because , it's a rather unique product. I don't have a lot of competitors in this space, , at least today. And, they're trying to do the same thing I'm doing.

They have a problem, they're trying to solve it. Our product solves the problem. So that's how I ended up going into Europe. I was really hesitant. , I pushed them off for about a year before I actually said, okay, , let's do this because. Going back to my original thing, you gotta move before you know everything.

, I'm concerned about servicing if there's a product that has , a problem or how do I provide customer service overseas? , And the reality is it's no different than providing service to customers here in the States. If they need a part or a replacement or a, you know, warranty claim, you handle it the same.

It might take a little longer 'cause you're shipping overseas now, [00:23:00] but trying to, get my mind around that. It's okay to go global. And there's definitely some advantages to it, but it's another level of risk. You have to be comfortable with risk.

It's an investment.

Priscilla (2): What was your hesitation? Because you said for one year they're telling you, , hey, Todd. Come on. Come on, Todd, let's go to Europe. . What made you hesitate with that idea?

Todd Hanson (2): a couple things. being overseas I never got a chance to meet the distributor face to face, people within the states that I'm working with. , I've met 'em, I've talked with 'em, I've shaken their hands. I think that's part of it. I didn't know what laws I might have to follow, , what regulations might be there for a product like mine.

And what I found is when I was talking with a distributor is they really eased my mind by understanding our product. Help me learn about, , what our product needs to have as far as standards specifically. 'cause ours , it mounts onto a vehicle what are the laws?

And the reality is it's different in many of the countries. [00:24:00] So they help me figure out where to be , So that's exciting. You are never gonna know everything, and I still don't know everything. I still don't know what problems might come up, when they come up just like every other problem, we figure out what it is, how to solve it,

Priscilla (2): Yeah, that's interesting 'cause when I hear it, I immediately think it. Sounds like, , you've gotta go start all over again in this new place. And I'm thinking you all that you've done so far the initial like, oh gosh, but I have to go start all over again. 

Like you said, everything is different, laws, , marketing, all those things to start all over again , in a different place.

, And the partnership, I think is key. 

Now I'm wondering from your point of view at this point. What does the company look like? And in terms of now if you bring on these global partners, , okay, maybe do I give equity? Do I get investors? At what point am I doing those kind of things or making those kind of decisions?

Todd Hanson (2): Yes, that's been a, hot topic as of late. You know, as we're. And, there is more [00:25:00] financial strain on the company. The cost to move products is higher. , Where I'm at right now is I'm still a hundred percent owner. I don't have any 

investors. 

Would I consider taking on an investor?

I thought about that a lot and I would if I had the right partner. And the reason I say that is I think you can move a lot faster with the right. Partner that doesn't necessarily act as just a bank, meaning the right partner has contacts and resources and expertise that you don't have that can enhance the company.

, Good example of that would be like, look at Elon Musk, right? He's popular around the world. He owns Tesla, or is he's part owner of Tesla, but he actually only owns 9% of Tesla. So he's a very small owner in the overall big picture of the company. But he's moving fast because he is got the right people around him.

So I think, having the right person around you , having the right investor, I would certainly consider having one. I've been, , very [00:26:00] particular , on making sure that we're a good fit. Because now you're not just taking care of your business. , You're helping them, right?

You have an extra set of eyes making sure that you're doing everything, not just your way, but the way they like to see it as well.

Priscilla (2): Yeah. You've added another layer of okay, yes, you're answerable to the customer, but now you've got somebody else who's got a stake in the business 

that, 

when you make a decision already the decision is hard, but now you've gotta factor into how will that decision, play out for that other person.

It's interesting ideas, things that people. Grapple with as founders.. So I'm so grateful that you shared that. Todd, I wonder, Todd, when you're looking forward now with the expansion that you're doing and what you've already built, what are you excited about going forward and what are you thinking?

Okay, these are hurdles that I see going forward.

Todd Hanson (2): Alright. Mostly excited for some of the new products that we'll have coming out based on customer feedback. I'm excited to share some, new things that customers have been [00:27:00] asking for. That I think , we'll start ramping up in sales, not just on our main product line, but all the accessories that go along with it.

So that's what I'm really excited about. And then we just went to one of the major automotive accessories shows in the world, called SEMA, Specialty Equipment Manufacturers Association. It's a large show in Las Vegas, Nevada. The contacts we've created there was fantastic. I'm , super, super excited about all the people we've met there and the feedback that we got from them as well.

So we know we're on the right track. And it's good to get, like I mentioned earlier, get that positive feedback to keep your energy going. What am I most worried about? Oof. I think we're gonna have to add another half hour here, but. probably the uncertainties of costs. , Being in the US there's a lot of,, tariffs and, other costs that have changed the environment for us quite a bit.

We're fortunate where we can roll through 'em and the hardest part probably is not knowing what those are, and , as they change. So that impacts your business along the way. That part makes me a little nervous. You mentioned a little earlier about maybe an [00:28:00] investor excited about that, but also very nervous about it at the same time, 

so I just wanna make sure , it's a good fit if we do bring on a partner, boy, and just maybe keeping up with the growth, , the leads and the, opportunities that we're starting to see now. It's, just gonna take a lot more time to manage the relationships that I haven't had, , these large of a relationship before. that makes me a little nervous.

I know I'll make it through, but I just don't want to drop the ball.

Priscilla (2): Oh, this is so exciting I'm excited just listening to what's going on over there. And to think that , you started off and you're this founder with an idea, and now the ideas out there, people wanting more, , you've got the main line you think of adding to that main line.

You're going to Europe, you're finding partnerships there. A lot of stuff going on over there. 

I'm thinking It, is very exciting and I'm thinking of the growth of yourself as a founder. What is your approach or your thinking behind managing the growth? 

Todd Hanson (2): [00:29:00] The thing I have to keep reminding myself is

, I'm gonna have to learn more as I go I'm still very early , in

the potential size of the company and which includes some of the meetings I'm gonna have coming up here. I need to understand not just my business, but my customer's businesses that's gonna be a part that I have to keep in mind. I'm always gonna have to keep learning.

I don't know everything. What I found works best for me is I'm upfront , with my businesses and say, Hey, I don't know everything, but tell, me about what you're doing. What, you need me to do. And then let's see how we can make this work together. 

And, I think confessing for me.

That, I don't know, everything has been helpful

Priscilla (2): Yeah, that's amazing. This has been a masterclass, Todd. I've enjoyed every moment of this and I'm just gonna be watching what's going on over there at Compass Carts. Something must be brewing over there. 

Todd Hanson (2): Lots of things. Really lots of things.

Priscilla (2): it's all very exciting and it's really lovely to see your journey and to know that actually it looks like you're still at the beginning.

It feels like a journey, but I think the [00:30:00] journey is just starting. 

If I can just give you five rapid fire questions. 

Todd Hanson (2): You got it. 

Priscilla (2): you just tell me what comes to mind. Okay. One belief about being a founder that you had to unlearn when you actually started doing entrepreneurship.

Todd Hanson (2): That things move quickly. ' cause they don't, they don't move at the pace. I'd like 'em to move out.

Priscilla (2): That's a big one. That's a big one. A decision in the last 12 months that you think made a huge difference in the outcome of Compass Carts today? I.

Todd Hanson (2): Making the decision to go to that last trade show that was a major expense. , A lot of risk. If it failed, , it wouldn't have been, good. But, it fortunately was the right decision. Yeah, and I'll tell you the reason , I hesitated on that is I felt small and I know the size of that show.

Some of the booths there are over a million dollars just for the booth. Now, ours was not,

but I felt very small going to a very big show. And,, I learned that's where I needed to be. That was the right to say.

Priscilla (2): I see. The [00:31:00] way that you're navigating risk, that could be a show on its own,

so we'll get, 

Todd Hanson (2): hey, i'll be glad to come back if you want more.

Priscilla (2): Thank you the best customer experience that you've personally had with a customer and what you learned from it.

Todd Hanson (2): I've got one very distinctive one, but there's a lot of 'em. One of my , very first customers, they placed an order with me, before I was in production. , I just took a very small deposit. , They waited two years from the time they gave me a deposit, so they actually got it.

And, the customer saw me about a year later after he had it. , We're at the same trade show. he goes, Todd, I gotta talk to you. He says, I got a problem with your cart. I'm like, okay, that I'm expecting someone's gonna have a question. Sometime along the way, I was with a customer.

I said, gimme a few minutes. He says, well, I'm gonna go look around. I'll stop back. I said, all right. So now in the back of my mind, I'm, oh, okay. What? What do we gotta deal with you? Right? Great customer. He comes back, he goes, Todd, he says, the real problem I have is I can't get it away from my wife. She's using it all the [00:32:00] time. I am like, oh, that was such a relief , when you said that, and his excitement and he's been such a great customer. 

Priscilla (2): The belief in you and what you were building to wait two years and to be blown away two years later, that, wow, this thing is amazing. It says a lot about what you've built.

Todd Hanson (2): Yeah, it's very different. It's creative, and it solves a lot of problems. And that's why we've been so fortunate. I think

Priscilla (2): what's the one thing you wish every early stage founder would stop doing and what you wish they would actually do instead? 

Todd Hanson (2): This may be contradictive of what I shared earlier in that, getting feedback on my product, I sought feedback early and it was helpful for me. But I think feedback from people who you trust and value, if it's negative feedback can stop you. , If you have an idea, maybe it's better to pursue it further before you get too much feedback. I think if you believe in the [00:33:00] idea and you've done enough homework to think that this is an idea, and , you know, maybe you're starting a coffee shop, right? If you've done enough homework, and this is a real passion of yours passion will all drive. But if you get the wrong feedback and it destroys your passion, that's not good.

So a little contradictory to what I shared earlier, but. for some people it might be better to move forward before you share too much,

Priscilla (2): Yeah. Thank you for that. I think that's really important. I think of especially very young founders where you don't yet have that. Knowing who you are and being certain that you can bet on yourself and like you said, your kids are older. You're like, okay, this is not taking anything away from the kids.

Or, I believe in this and I can really go for it. So appreciate you sharing your story, Todd. It wouldn't be right for us to not talk about Compass Cart's does. 'cause I had to go on your website , and see it visually to see, okay, there's so many cases that you can use this.

Todd Hanson (2): Thank you. This is the kind of a proud daddy moment talking about my product. So what Compass carts is, is that it's [00:34:00] a cart system that works with any vehicle that has a two inch receiver. He, think of it as the hitch holler that you've seen on the back of maybe SUVs or trucks going down the road and, you know, they got coolers and everything on that, but now you can take that and just slide it off the side of your vehicle and now it becomes a cart.

And now those coolers never had to be lifted. They never had to be carried, you just wheel 'em to where you need to go. That's really what Compass carts is everybody says what's your elevator pitch? Right? What's your 30 second elevator pitch?

I'm better off just giving 'em my website and saying, here's my 30 second, elevator pitch, you , see the video and see how this works. 'cause that's when the aha moment seems to work. For your listeners, check us out at compass carts with an s.com. So compass carts.com and you'll get an idea of , what we offer.

And then, , what makes our cart so unique is it's not just a hand cart or a cart that we typically think of. It's also a trailer so it can connect to a bike, such as, like the e-bikes are so popular now, so you can connect it to an e-bike, you can connect it to an A TV or [00:35:00] garden tractor. , We've got some other cool things coming.

We've got a kayak arm coming for it. So you can put your kayak behind your bike and bring that with you. So if you got a, maybe you want to go to a spot remote fishing spot, or maybe you wanna Canoa River or something, or kayak or river, now you got a way to get stuff back to where you're going.

And then the other one, Priscilla. , Here's an example of listening to your customers.

Todd Hanson (2): We're gonna come out with a kennel. Customers are asking for a way to bring their larger animals. their larger pets, they're larger dogs with them. But most of the carriers today only handle the small to medium sized pets.

So our product's large enough. So we're just gonna put a kennel system on the top that's easy to take on and off. It's just an accessory, so you can still use it for your. You know, weekend trips, but then if you wanna go for a little ride with your beloved puppy or dog, you can 

Priscilla (2): very exciting. And you were saying you don't have the elevator pitch actually for the times that we are living in. Your product is perfect for social media [00:36:00] where if you see it, you can imagine trying to explain something on social media. Okay.

Todd Hanson (2): You're right. Yeah. How do you explain this in a radio ad,

Priscilla (2): Oh, good luck with that. It was perfect for the way that people are buying and the way people are marketing today's world, where if sometimes all you need to do is if you see how it works. That's it, that's all you needed to do . Thank you so much, Todd. To the audience, I'll link campus carts, so you can go on and check out what they're doing over there.

It's really exciting. And please, I wish you would write all these lessons somewhere so we could just go on and just follow and learn what it is that you're up to. I don't know if you're active on social media.

Todd Hanson (2): , you can find about myself on LinkedIn mostly. But you can also find a lot about the company on the social media platforms.

Priscilla (2): Okay. Thank you so much. Please, audience do that. I think this has been a really rich conversation. Thank you, Todd, for allowing me to go double the time and you're still here and you're still sharing. I appreciate it. Thank you so much.

Todd Hanson (2): this has been a blast. I'm glad you invited me to join you and and you're a pleasure to work with. So we're gonna have [00:37:00] to stay in touch.

Priscilla (2): Oh, for sure.

Todd Hanson (2): Alright, thank you.