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On this episode of Unconventional Genius, I talk to an entrepreneur who is disrupting the home automation market. Alex Capecelatro is the Co-Founder and CEO of Josh.ai, a company that is looking to make the truly smart home a reality through a voice activated home automation system.
During our conversation, Alex tells me about both the technological and operational side of Josh.ai. He shares what sets Josh.ai apart from other smart home systems and how he is leveraging his business and technology acumen to disrupt the home automation market.
Making the smart home smarter
Alex Capecelatro has developed an artificial intelligence platform, called Josh, which connects with already existing smart devices within your home and allows you to control them all by simply using natural language. What once seemed like something out of a science fiction film is now a reality. Alex explains how his company is making the smart home smarter by integrating the internet of things into one user-friendly device.
While there are many home automation devices currently on the market, Alex says that what sets Josh.ai apart is their whole-home approach. Instead of just creating a piece of hardware, Josh.ai is looking to integrate with the already-available connected devices within the home to make the user experience easier and more comprehensive.
The strategy behind developing a home automation product
Alex Capecelatro compares the Josh.ai go-to-market approach with that of Tesla. He says they started with high-end installations in larger houses with smart devices already included. This allowed them to learn and adapt the system so that they can be better and more affordable for larger markets.
They also found a niche that allows them to partner with other smart device manufacturers rather than competing with them. Instead of infringing on an already crowded market, Josh.ai is integrating with them. Hear more about Alex Capecelatro’s development strategy during this conversation.
Getting investors excited about home automation
Trying to raise money for a tech product can be difficult, especially if you are presenting a new product. Alex Capecelatro details how his company was able to raise a lot of money from investors. He says it started by mitigating risk for investors citing his extensive experience and research that gave confidence to investors.
Another advantage Josh.ai had for raising capital was their focus on solving a problem in an already established market. Rather than creating a new category of products, they were simply improving one. This allowed investors to feel more comfortable backing Josh.ai.
How to come up with your next big product
Alex Capecelatro is creating an exciting and unique product in the home automation field. As an entrepreneur, how can you come up with your next product or service idea? Alex says his idea came from being a consumer in the smart home market and learning about the features he wanted.
Alex says, “Focus really intently on the user and the user’s problem.” If you only focus on the competitors, you’ll constantly be playing catch up. Instead, focus on giving users the best experience possible, solve their problems, and you’ll be successful.
If you are with a consumer technology company planning to launch a new product at CES or are even looking ahead to CES 2019, the Max Borges Agency can help you succeed. To learn more, check out: www.maxborgesagency.com.
Topics Featured In This Episode
- [2:42] Introduction of Alex Capecelatro, Founder and CEO at Josh.ai
- [3:19] Alex describes Josh.ai is and how it is disrupting the home automation market
- [5:47] What sets Josh.ai apart from other home automation companies
- [9:35] The ideal customer and how installation is handled
- [12:31] Marketing to installers by leveraging the ability to integrate with existing tech
- [13:39] Current and future home automation features of Josh.ai
- [14:44] The types of homes that install Josh.ai and the potential for market growth
- [16:31] Why investors are excited to invest in a company like Josh.ai
- [19:04] How the home automation market has responded to Josh.ai
- [20:53] Alex Capecelatro gives advice to entrepreneurs looking to start a new company
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