Q1: Kindly give our readers an introduction to your business. Please include what your business is all about, in which city you are located and if you have offices in multiple locations/ cities.
Ans:
▪ Hello, I’m Brad Woods, Founder and CEO of The Virtual Foundry. We’re all about making metal 3D printing accessible and easier to use. Our main office and factory are right here in Stoughton, Wisconsin.
▪ The Virtual Foundry stands out because we’ve developed a unique approach to metal 3D printing. Our Filamet™ allows you to use almost any standard FFF 3D printer to create metal, ceramic, and even glass parts. This is achieved by combining the desired material powder with a binder, which is then removed after printing, leaving a pure metal, ceramic, or glass object after sintering in a kiln.
▪ This method democratizes metal 3D printing, making it more affordable and accessible than traditional methods that require expensive, specialized equipment. We offer a wide range of materials, giving users the flexibility to create parts with specific properties for various applications.
Q2: Kindly give us a brief description about yourself (it should include your brief educational or entrepreneurial background and list some of your major achievements).
Ans: I’m Bradley Woods, and my journey has been driven by a passion for innovation and problem-solving. I have a background in art, materials science and engineering, which really fueled the development of Filamet™. One of the achievements I’m most proud of is making metal 3D printing accessible to a much wider audience through our unique filament technology.
Q3: What inspired you to (start a new business venture) or (to make significant changes in an existing business)? How did the idea for your business come about?
Ans: The Virtual Foundry was born out of a desire to simplify metal 3D printing. I saw a gap in the market where the existing technologies were expensive and complex, limiting their accessibility. The idea for Filamet™ came from my background in computers, art and a drive to find a more user-friendly way to create metal parts with the flexibility of filament extrusion.
Q4: What three pieces of advice would you give to budding entrepreneurs?
Ans: If I could offer some advice to future entrepreneurs, it would be to stay curious and persistent. The path of innovation isn’t always smooth, and you’ll face challenges, but it’s crucial to keep learning and adapting. Most importantly, focus on solving real problems and building something that truly adds value.
Q5: What would you say are the top three skills needed to be a successful entrepreneur?
Ans: From my experience, I’d say the top three skills for a successful entrepreneur are resilience, adaptability, and a strong understanding of your market. You’ll inevitably face setbacks, so the ability to bounce back is crucial. 1 Being able to pivot and adjust your approach as things evolve is also key. Finally, knowing your customers and the landscape you’re operating in is fundamental to making informed decisions.
Q6: How many hours do you work a day on average?
Ans: 60
Q7: To what do you most attribute your success?
Ans: Persistence. I’ve often joked that the key difference between succeeding and failing is simply whether or not you have given up.
Q8: How do you go about marketing your business? What has been your most successful form of marketing?
Ans:
▪ Word of Mouth (by a wide margin)
▪ I’ve never done any single form of marketing that provided any directly attributable sales.
▪ Trade Shows are also very important. Our technology can be difficult to understand, but once people can actually look at it, it all makes sense.
Q9: Where did your organizations funding/capital come from and how did you go about getting it? How did you obtain investors for your venture?
Ans:
▪ Friends/Family. A friend financed the first leg of my project.
▪ Convertible Notes sold in the community
▪ Kickstarter campaign (~$30k)
Q10: What is the best way to achieve long-term success?
Ans:
▪ Persevere, learn and adapt.
▪ -Repeat…
Q11: Where you see yourself and your business in 5 – 10 years?
Ans: Hopefully we will have been acquired by a larger business.
Q12: Excluding yours, what company or business do you admire the most?
Ans: Kwik Trip, they are always in the right place at the right time and all stores are remarkably consistent.
Q13: How important have good employees been to your success?
Ans: Vitally important. I hit a point very early where I was overwhelmed. It would have been impossible to get past this point without at least the first competent employee.
Q14: How long do you stick with an idea before giving up?
Ans: I have no problem changing my mind about a topic as I learn more about it. Often it isn’t about giving up or not, it’s about redefining the idea until it’s a concept that can succeed.
Q15: How do you generate new ideas?
Ans: I have a constant flow of ideas for new products and solutions to new problems that a product or material can resolve.
Q16: How do you define success?
Ans: Bills paid and still having money in the bank.
Q17: How do you build a successful customer base?
Ans: Time and attention. Most customers need some help to succeed. Once they do, they rarely need to come back for more help.
Q18: What is your favorite aspect of being an entrepreneur?
Ans: Independance
Q19: What has been your most satisfying moment in business?
Ans: The moment people realize what it is that my invention does, and the problems that it can solve.
Q20: In one word, characterize your life as an entrepreneur.
Ans: Busy
