Mastering the Art of Sleep Technology: Q&A With Zimin Hang of Chrona Sleep

YEC Next
Tue, 14 Jun 2016 12:15:13 +0000

Zimin Hang, Co-Founder, Chrona Sleep

Mini Bio

Zimin Hang is the co-founder of Chrona Sleep, a device that turns your pillow into a "Smartpillow," bringing greater comfort and the benefits of emerging sleep research to your bed.

Name: Zimin Hang

Title: Co-Founder

Company: Chrona Sleep

Years in business: 1

Business location: St. Louis, Mo.

Number of employees: 4

Chief product: Chrona Smartpillow

Website: chronasleep.com

First of all, how is business these days?

For not having any products to sell, it's absolutely wonderful! We're making leaps and strides on product development. It's taking longer than we'd like, but every time we iterate, we get more excited about how much better the Chrona experience is going to be. We've done several rounds of alpha testing and we're moving into beta now.

What led you to start your own business?

I'm driven to make a positive impact on humanity, so finding ways to do that best (while still having fun and being able to be financially independent) is what eventually led me to start my own business.

What sources did you use for startup capital?

We started with a small family and friends round, then we launched a Kickstarter to get a supportive product community behind us. We also applied for grants (highly recommend Arch Grants—it's non-dilutive!) and accelerators to get us as far as possible without raising private equity. We're pretty close to the point now where we need to raise a round to get us into production.

What do you think is your biggest business strength?

My biggest strengths are my adaptability and my desire to learn.

What do you enjoy most about owning your own business?

My favorite part is meeting and working with people who share a passion, especially those on the Chrona team who are growing alongside me, both as individuals and as a company.

What’s your least favorite part of running a business?

For every one inspiring human being I meet in business, there's five or ten who are the opposite: cynical and self-absorbed. My least favorite parts are the moments after meeting these entrepreneurs or investors where I have to remember that I'm also building a product for them.

What do you think are important entrepreneurial skills to have?

It's important to have self-awareness, an empirical approach to building, and an ability to learn and adapt.

What are some challenges you’ve faced in business and how did you overcome them?

It's been difficult getting people to believe in the product and team. Our decision to launch a Kickstarter campaign and run controlled studies at Washington University School of Medicine was very much a reaction to the lack of interest in Chrona when we started. Even though the consumer interest, market trends, and research publications were all in support of our hypothesis for Chrona, this mentality really pushed us to prove our assumptions and also our abilities to execute as a team.

What do you wish you’d known before you started out?

I wish I had known what founding a company and the role of CEO was really about, and that's creating an environment in which your idea and team are able to flourish. Yes, building the product is very important, but what ended up happening with me is that a lot of the organizational matters became huge impediments, especially when conflicts arose.

What is the smartest move you have made with your business so far?

The smartest (and most difficult) move I've had to make was parting ways with my co-founder. It was a challenging process but ultimately it opened up the team culture and everyone was able to make the company their own.

How do you find new customers? What do you do to make sure they become return customers?

Finding customers is all about making that human connection. This is easier for us at Chrona because sleep is something that everyone does, but in the instances that a potential customer sleeps well already, then it's about finding others in their life who don't.

What’s your management style with employees?

I try to be highly empirical and iterative. Everyone has different needs so I start with a rough guess and then adjust what I provide and request based on what they need (or don't need).

What are some other companies or entrepreneurs you admire, and why?

I admire Valve because of how open and independently capable its team is. And Elon Musk, because he is so purely humanist and a true force of nature (maybe not humanitarian in the way of his management, but that's what it takes to build what he's building).

Do you have an inspirational quote?

"Character is who you are when no one is watching." —John Wooden

What new initiatives are you working on?

Focus is on building the product. Everything else is a distraction.

What advice would you give to someone hoping to start a business similar to yours?

Talk to as many people as you can in different industries and ask them what they think of your idea and what they think of you. Ask them about the joys and mistakes they experienced, and what they think you'll be good at and what your weakness are. This will help you decide if starting a business is the right move and what kind of co-founder/team you need.

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Photo courtesy of Chrona Sleep