Apr 22, 2013 8 Questions With: Potluck
One of Imprint’s portfolio company founders, Levi Maestro of Becomb, had been working with a design agency called Potluck. Through this relationship, we became aware that Potluck’s founders, Eric Lai and Ko Nakatsu, had their own penchant for entrepreneurialism and had successfully launched an incredible business via the Kickstarter community, called Hiya. We were impressed with the unique product concept, the story behind its development, the brand’s attention to detail, and consumer enthusiasm. A flawless embodiment of what a Kickstarter project is all about. We can’t wait to see how Hiya scales as well as their second product concept, Versir, aka “Houses for Objects”.
Describe how the Hiya concept was born.
The concept was from Dr. Tetsuo Nakatsu (Ph.D organic chemistry). He was inspired about cold brewing around 2004 while visiting our Tea Master in Japan. Cold-brew tea is much less bitter than hot brew, and he tried a few experiments with the tea master. He invented some prototypes around 2005-2006 with a faster way to cold brew. He has been working on the best cold brewing condition for years now with his associate. He was also working on several other inventions at the time like novel ways to clean lakes, environmentally friendly way to solve oil spills, non-toxic grease removers, perfectly nutrimental foods, etc., and so invention is his true passion. His son, Ko Nakatsu and his business partner Eric Lai branded and packaged the cold-brew method to create the tea brand Hiya.
How was your Kickstarter experience to launch the brand and community overall?
One of the most surprising (and exciting) part of the project was the global support for Hiya. We had backers from 26 countries, and 47 states! From Alabama to Wyoming and Latvia to Malaysia! It was truly a humbling experience to reach so many people in different places.
This community of people was extremely supportive of our project and we stayed organized to keep everyone involved. To complete the project to our standard, we kept an eye on the small details like packaging, shipping costs and methods, as well as how we handle customer service.
What have you learned as an entrepreneur so far?
Learn everything about company-building inside and out, including things that are boring. For example, we read all kinds of articles and documents from the state to understand the process for registering a company. Instead of using an attorney or a service, we filled out the appropriate paperwork and registered the LLC ourselves and it cost us less than $100. Because we knew what documents needed to be filed, it also helped us identify scammers who go after small businesses pretending to require certain documents.
Share your ideas with people. Everything good has come out of not hoarding our ideas and sharing them freely. For example, we were talking to a colleague about the difficulty in finding a ceramic producer based in the US for a project. He introduced us to a friend, who was connected to another friend who we’re working closely now to produce the pieces.
What are you currently working on for the growth of the business?
We created an online store at www.hiyatea.com. Sales are steady and the international interest is amazing. Other than that, we are considering partnerships with high -nd hotels, retailers, and distributors. People from all over the world are interested in distributing. We want to make sure that whomever we partner with understands our vision.
We’re experimenting with a few methods for reaching directly to customers including a subscription service where we ship Hiya every month. We’re also looking into bringing in help for sales and marketing to reach more people and new markets.
What other projects are you currently working on?
We run Potluck, a strategy and design firm, where we work on projects for clients like Adidas, Logitech, Young Guru, and iGO as well as a number of startups. We’re also working on our own brand of household goods called Versir, which we just launched on Kickstarter last month. Our first line of products is called Houses for Objects and we have some new ceramic products coming down the pipeline. We want to continue to explore crowd-funded projects to test and grow a business.
As a kid, what did you want to be?
K: Ever since I was ten, every kind of doctor inspired me in how they helped people. I wanted to be a dentist, orthodontist, pediatrician, and eventually a neurosurgeon in college. I even worked as an EMT on ambulances for a bit. I realized though, that I can also help people in other ways using creativity.
E: I remember always wanting to be some type of inventor or scientist. I didn’t really know what that meant at the time or anyone that had that title, but creating things was just something I wanted to do. Growing up, I was always tinkering and building things out of household items or whatever I could get my hands on. I was always excited to make things that did not already exist. I still am.
What is your favorite place to travel? Why?
K: At the moment, New York to see my parents. I appreciate family more as I get older.
E: I traveled to Hawaii for the first time last year and it was incredible. The overall vibe, people, culture, art, surf, Spam, and energy all seemed to be in the right place.
What is your favorite post-work destination?
K: “Post-work”? Someday it would be an urn.
E: Riding my bike around LA. It’s great to be outside and absorb the different parts of the city.
