Nick O’Brien (CFO) is a graduate of Vanderbilt University. He majored in Economics and History and minored in Philosophy and Classical Civilizations. Nick has actively worked in tech & startups since he was 18. He oversees marketing, growth, and finance.
Isaac Lichter (CEO) – author- is a graduate of Vanderbilt University with a major in Engineering Science and minors in Compsci, Economics, and Engineering Management. He oversees product engineering and manufacturing.
Andrew Medland (COO) is a graduate of Vanderbilt University. He majored in Medicine, Health, and Society, with minors in Art History and Italian. He oversees distribution, supply chain, and social impact.
What is Alloi all about?
Alloi is about raising the bar for what we expect from the products we interact with most. When we discovered copper’s antimicrobial properties, our first reaction was “why isn’t everything coated in copper?” Humans have created so many amazing technologies and products. Yet, we still let the items we come into contact with every day spread disease, infecting us and the people around us. We harness the natural properties of metals to create products that not only prevent this but look amazing and function flawlessly while doing so. We hope that people will come to expect this level of protection from the products they use, as well as leading the charge towards this new reality, in which our everyday products work double duty to protect our health.
Tell us a little bit about your background and how you started your company?
Absolutely! I grew up in Evanston, IL, just north of Chicago, along with my co-founder, Nick. We went to school together from 1st grade through college at Vanderbilt University, in Nashville, TN. It was there that we met our third co-founder, Andrew Medland. While at Vanderbilt, Nick and I founded an on-campus startup that created more convenient and hygienic hydration solutions for students. When Andrew and I became roommates, we often discussed startup ideas.
Entrepreneurship is something that we’ve all been passionate about for a long time. When the idea for Alloi (formerly Aeris) struck, we were ready. The timing was crucial for this idea. Andrew and I both got COVID-19 in early March of 2020, before American life was brought to a halt. As we saw firsthand how quickly the illness circulated through the Vanderbilt community, we knew it was something the world was unprepared for.
When I first read an article titled “Copper Kills Coronavirus?”, we were skeptical. We had no knowledge of copper’s germ-fighting abilities despite the article claiming that this fact had been well-known for millennia. After substantial research, we learned that copper had unquestionable antimicrobial properties that were underutilized at every level, including for both personal objects and public surfaces. We realized that if we could harness these properties and bring this ancient technology into the modern era, we could forge our own career paths.
What was the biggest problem you encountered with your business and how did you overcome it?
We’ve encountered plenty of unforeseen problems along the way (part of what makes business exciting), but our biggest challenge by far has been perfecting the product. When we first had the idea, we were incredibly excited and wanted to start production right away. As our roommates watched with skepticism (and some concern), we began ordering various chemicals and supplies to set up what we thought would be our ultimate production facility: the garage of our college house. We managed to get a semi-functional system together. But it quickly became clear that while our process might work and there was interest in our project, the corner of the garage was not the place to make it happen.
We found a contract manufacturer who was in a much better position to mass-produce than we were and worked out a deal with him. We thought this was the end of our production headaches – we could not have been more wrong. Last-minute switches with some of the components to the case caused huge problems that hadn’t been present with our prototypes, and our entire initial production run was essentially useless. We made some adjustments that we thought would solve the problem, and tried again, only to find that we had solved the initial problem just to create a new one. So, we changed some more things. And then made a few more tweaks. Until finally, after hundreds of hours of work, dozens of iterations, and thousands in lost revenue due to products that were not ready for customers, we had a product that was fit to sell.
What were the top mistakes you made starting your business and what did you learn from it?
We made the mistake of rushing into things. Any good idea can be incredibly exciting, and to an entrepreneurial person, the desire to move quickly is almost always a good thing. However, we would have fared much better if we had slowed down, gotten our feet fully under us, and thought through every aspect and contingency of our plan. As soon as a product launches to the public, and you start serving a customer base besides close friends and family, there are so many more variables to consider – customer service, reviews, public impression, etc. We would have benefited from having a better product before introducing these. There is such a thing as too much preparation, and I would never advocate for letting overthinking or planning get in the way of doing, but make sure you know your plan before you execute.
Another mistake we made was to be too trusting. I like to always assume the best of people, but when you have business partners, investors, customers, or employees relying on the success of your company, you can’t afford to take chances. We had numerous issues with our first manufacturing partner that led to us leaving him, and because we had a great relationship, after the first several production runs, we started to develop a cavalier attitude towards our contracts. When things turned bad, this left us with little to no remedies, and while we were lucky to escape relatively unscathed, things easily could have been very bad. No matter who you are working with, and how well or how long you have known them, put everything in writing, draw up a contact for every interaction, and have a lawyer look over things wherever possible.
What is one thing that you do daily to grow as an entrepreneur?
Learn as much as possible. In order to start a company or create a product, there first needs to be a problem to solve, and the best way I’ve found to do that is through observing the world around me. I try to spend my free time scrolling through my news app or Twitter feed rather than Instagram and subscribe to publications and listen to podcasts that will keep me up to date on the interesting things happening in the world.
What are three books or courses you recommend for new entrepreneurs?
- How to Not be Wrong: The Power of Mathematical Thinking by Jordan Ellenberg
- Innovation Stack
- The Lean Startup
What is the one thing you wish you knew before starting your business?
People are shockingly willing to help you, especially as a young entrepreneur. We’ve had the opportunity to speak and work with so many people much farther along in their entrepreneurial journey than us and forging these relationships has paid massive dividends. Most of these people we had no prior connections with, but after building a relationship sparked by a cold email or DM, they’ve become valuable partners. There’s never harm in reaching out to people you think can be helpful, and most times they’ll be receptive.
What has been your most effective marketing strategy to grow your business?
We were able to get dozens of stories on local news, and articles in publications such as Fast Company and Forbes almost immediately after launching. While some of it was certainly luck, a lot of it was because of our story. Yes, an antimicrobial copper phone case may be cool, but an antimicrobial copper phone case created by three college kids in their garage during quarantine so that they can give back to frontline healthcare workers is awesome! When talking to news outlets, investors, and now in our ads, we do our best to highlight not just the product, but the story behind it and what we’re hoping to achieve. We think that makes it much more interesting, and so far, people have seemed to agree, which has made marketing much easier.
If you only had $1000 dollars to start a new startup, knowing everything you know now, how would you spend it?
Spend $100-$500 on getting a prototype of minimum viable product put together and save the rest. There are so many seemingly justifiable things that are tempting to spend money on when starting, but unless it will be impossible to proceed without them, they are often a waste of money. Save your funds for the inevitable unexpected issues that will arise, and until you can be sure you are deploying them in a way that will help your business.
What’s your best piece of advice for aspiring and new entrepreneurs?
Just do it. I got the idea to start Alloi from an article in Fast Company about copper’s antimicrobial powers that was undoubtedly read by thousands, if not millions of other people. Yet there seems to be only one copper products company that sprung from it. Getting started is the hardest part and there are always reasons not to but taking that first step will always be better than not.
What is your favorite quote?
“Ask for forgiveness, not permission” – Told to Nick and me by Robert Grajewski, former head of the entrepreneur center at Vanderbilt.
- Gusto for payroll management (dealing with taxes, especially payroll, alone is not fun)
- Klaviyo for email marketing
- Carro for partnerships
How is running a tech company different than what you thought it would be?
Even after 14 months in business, it is exceptionally rare that things go right. Not to say that the company overall is struggling or headed in the wrong direction, but each new project, idea or everyday task will often develop unforeseen problems or roadblocks. Some are solved quicker than others, and we’re getting better at accounting for this, but I would have expected that most tasks would be more straightforward. I’m sure with time and experience they will but dealing with new issues every day is also what makes running a company interesting.
How can readers get in touch with you?
We’re on Instagram and TikTok @goalloi, and Facebook and LinkedIn as Alloi. Our DM’s are always open.
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