About this Episode
In this insightful episode of the Rural Entrepreneur Podcast, host Chris Herbert sits down with Paul Hogendoorn, an experienced entrepreneur with a diverse background in technology and business development.
The episode explores Paul's unexpected journey into entrepreneurship, his innovative approach to patents, and his insights into rural entrepreneurship. Paul shares his experiences from starting a business in a rented industrial unit to obtaining multiple patents and mentoring young entrepreneurs.
He also discusses the unique advantages of rural entrepreneurship and reflects on personal lessons learned throughout his career.
Key Themes and Takeaways
Unplanned Entrepreneurial Beginnings: Paul's story illustrates that entrepreneurship can begin unexpectedly and evolve organically. This highlights the importance of being open to opportunities and the value of turning hobbies into successful ventures.
Innovation and Patents: Paul's approach to obtaining patents showcases the importance of innovative thinking and finding efficient solutions in business. His experience emphasizes that being different and solving problems in unique ways can be a significant advantage.
Rural Entrepreneurship Advantages: Paul's insights into rural entrepreneurship reveal the inherent entrepreneurial spirit in rural communities. He emphasizes the importance of leveraging natural traits like trustworthiness and work ethic for business success.
Embracing the Entrepreneurial Journey: Paul reflects on the importance of enjoying the entire entrepreneurial process, including its challenges. He stresses the value of having a supportive life partner and sharing the journey with them.
Digital Presence for Rural Entrepreneurs: Highlighting the role of the internet in today's business landscape, Paul advises rural entrepreneurs to use digital tools to overcome geographical limitations and reach a wider audience.
This episode offers a blend of practical business advice, innovative strategies, and personal reflections, providing valuable insights for both aspiring and seasoned entrepreneurs.
Interview with creative innovator and entrepreneur Paul Hogendoorn
00:00 - 08:36: An Unplanned Path to Entrepreneurship
In this segment of The Rural Entrepreneur, host Chris Herbert talks with Paul Hogendoorn about his unexpected journey into entrepreneurship.
Paul shares how his initial interest in working on cars led to the founding of a business, highlighting the evolution of his ventures, including FreePoint Technologies and OES.
The discussion provides insights into the nature of entrepreneurship as an art form, where value is created from nothing. Paul reflects on his transition from a technical hobbyist to a successful entrepreneur, driven by passion and innovation.
Key Points:
Background and Inception of Business Ventures: Paul describes how a rented industrial unit for car maintenance inadvertently became the birthplace of his first fix it and repair business. This coupling of a hobby to a business venture marked the beginning of his entrepreneurial journey.
First Foray into Product Development: A pivotal moment occurred when a customer challenged Paul to design a control system. This led to his first product development, providing a rush of excitement and setting the stage for future ventures.
Evolution from Services to Products: Paul's business evolved from offering repair services to designing and manufacturing products. He compares this process to creating art, where he brought his visions to life through technology and business development.
The Artistic Nature of Entrepreneurship: Paul emphasizes that entrepreneurship is akin to artistry, involving the creation of something valuable from nothing. He shares how this perspective has been a driving force throughout his 40-year career.
This segment offers a unique view into the entrepreneurial mindset, illustrating how unplanned paths can lead to fulfilling and successful business ventures.
08:36 - 17:27: Patents Path and Building a Mutually Responsible Business
In this segment, Paul Hogendoorn discusses his journey with patents and the responsibilities of being an entrepreneur. He shares his unconventional approach to design and problem-solving, which led him to explore patenting his unique solutions.
Key Points:
Innovative Approach to Patents: Initially, Paul faced challenges with the traditional patent process, which was expensive and cumbersome. However, he adopted a more efficient method by filing provisional patents, significantly reducing costs and paperwork.
Purpose of Patents: For Paul, patents served as a defense mechanism in the technology field, protecting his company from accusations of infringing on others' intellectual property. This strategy was crucial for operating rights and business credibility.
Responsibility Towards Employees: Paul reflects on the sense of responsibility he felt towards his employees. He learned to view the company as a shared responsibility, where everyone contributes to its success. This perspective helped him manage the pressure of ensuring job security and growth for his team.
Building a Business Family: Paul emphasizes the deep connections formed with employees, who often became like family. He shares how these relationships extended beyond the professional sphere, with lasting personal bonds and mutual investment in each other's lives.
This segment offers insights into the practical aspects of patenting innovations and the emotional journey of building a business that supports and nurtures its employees. Paul's experiences highlight the importance of innovative thinking in business operations and the value of creating a supportive work environment.
17:27 - 32:07: Paul Hogendoorn on Innovation, Entrepreneurship, and the Essence of Business Success
In this insightful segment, Paul Hogendoorn discusses his current venture, TPI3, and his approach to innovation and entrepreneurship, as reflected in his blog posts. He emphasizes the importance of trusting one's inner compass and the crucial role of paying customers in entrepreneurship.
Key Points:
Trusting the Inner Compass: Paul advises entrepreneurs to trust their instincts and inner compass, even when surrounded by skepticism and conventional advice. He stresses that being different and solving problems uniquely is an entrepreneur's strength.
TPI3 - Insight, Imagination, and Inspiration: Paul's current venture, TPI3, is based on the principles of insight, imagination, and inspiration. He explains how these elements are crucial in generating innovative ideas and driving a business forward.
The Role of Government Programs and Funding: Paul discusses the Canadian Scientific Research and Experimental Development (SR&ED) tax incentives program, praising it for supporting companies that follow their vision rather than just seeking government incentives. He argues that true entrepreneurship involves pursuing what you believe is necessary for your company's success.
The Importance of Paying Customers: Paul highlights that the most valuable asset for an entrepreneur is not a great idea, a patent, or even a team, but rather a paying customer. He shares his experience with the SR&ED program, which helped his early ventures survive despite the challenges.
Entrepreneurship vs. Dependency on Funding: Paul cautions against relying too heavily on government funding for venture development, emphasizing that real entrepreneurial success comes from finding paying customers who value your solution.
This segment offers a deep dive into the mindset and strategies that have guided Paul Hogendoorn's successful entrepreneurial career, providing valuable lessons for aspiring entrepreneurs.
32:07 - 46:52: Embracing Rural Entrepreneurship and Reflecting on Life Lessons
In this segment, Paul Hogendoorn discusses the unique aspects of rural entrepreneurship and shares personal reflections on his entrepreneurial journey. He emphasizes the natural entrepreneurial spirit in rural communities and the importance of genuine relationships in business.
Key Points:
Natural Entrepreneurship in Rural Areas: Paul notes that rural entrepreneurs often possess inherent skills and a strong work ethic, making them naturally entrepreneurial. He recalls how his early customers from rural backgrounds were the first to trust him with significant projects.
Advantages of Rural Entrepreneurship: Paul highlights the advantages rural entrepreneurs have, such as trustworthiness and a genuine approach to business. He suggests leveraging these traits as natural marketing advantages.
Internet as a Tool for Rural Entrepreneurs: In today's digital age, Paul advises rural entrepreneurs to use the internet to create a strong online presence, allowing them to reach a wider audience despite geographical limitations.
Personal Reflections and Advice: Paul shares his philosophy of enjoying the entire entrepreneurial journey, including its challenges. He stresses the importance of having a supportive life partner and the value of sharing experiences with them.
Final Thoughts: Paul concludes by encouraging entrepreneurs to cherish the journey of building a business, likening it to creating a piece of art or raising a child. He reflects on the importance of sharing more of the entrepreneurial ride with loved ones.
INSIGHTS FROM PAUL: Challenging Times Are the Best of Times for Entrepreneurs | Understanding the Entrepreneur in Your Life
This segment offers a blend of practical advice for rural entrepreneurs and profound life lessons from Paul's extensive experience, providing valuable insights for listeners on both professional and personal levels.
About Paul Hogendoorn
Paul Hogendoorn has been working in the manufacturing sector for 40 years, having started and built two of his own companies. He has
worked with over 200 manufacturers all over the world, ranging in size from 5 people to 10's of thousands, helping create effective solutions on the plant floor, in the front office, and in the corporate office. Paul was a technology developer and a business builder, and is now a coach, a strategic thinker, a communicator and a mentor - from the shop floor to the top floor.
About the Rural Entrepreneur Podcast Series
The Rural Entrepreneur Podcast Series delves into the stories of rural entrepreneurs, exploring their struggles, triumphs, and the driving force behind their perseverance. The conversations are profound and insightful. If you're interested in being a sponsor or guest, feel free to contact us or book some time with Chris.
