JP Errico has developed an incredible amount of IP in the medical space. On the way, he has built, financed, sold, and taken companies public. His venture, electroCore, has attracted funding from top-tier investors like American Investment Holdings, Easton Capital Investment Group, Tullis Health Investors, and Knoll Capital Management.
In this episode, you will learn:
- The pros and cons of taking investments from strategics
- How Electrocore is targeting the vagus nerve to improve and enhance our lives
This episode is brought to you by Gelt. As a referral from the DealMaker’s podcast you can skip the waitlist and get priority just mention Dealmakers as your referral on the schedule a call form here.
.Tech Domains is sponsoring this episode. To unlock the special offer for the DealMakers audience, which includes 1-year domain for $10, or a 5-year domain for $50, go to go.tech/dealmakers.
For a winning deck, take a look at the pitch deck template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.
The Ultimate Guide To Pitch Decks
Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here).
Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below.
About JP Errico:
An accomplished inventor, JP received his undergraduate degree in aeronautical engineering from the Massachusetts Institute of Technology and worked at the Air Force National Laboratory, Lincoln Laboratories. He holds both law and mechanical/materials engineering graduate degrees from Duke University.
JP trained as a patent attorney in New York and is the author of a treatise on international intellectual property law. Through ongoing collaboration with investing partners, JP, along with fellow investor and board member Thomas J. Errico, MD, previously founded and sold or took public numerous med-tech ventures, including Fastenetix, K2 Medical Systems, AD4-Pharma, E2, and SpineCore.
Products conceived by these start-up companies have generated more than $15 billion in sales to date and delivered over $500 million in liquidity events to their investors. He also served as the CEO of SpineCore from the inception of the company through its sale to Stryker in July 2004.
JP is a named inventor on more than 125 issued US patents and is a named inventor on more than 230 pending US applications. Additional patents and patent applications outside the US on which he is a named inventor number greater than 250.
In addition to his current role as Chief Science & Strategy Officer, JP continues to make significant inventive contributions in all aspects of electroCore’s key patent portfolios, along with the clinical and market validations of the company’s products and their indications.
See How I Can Help You With Your Fundraising Or Acquisition Efforts
- Fundraising or Acquisition Process: get guidance from A to Z.
- Materials: our team creates epic pitch decks and financial models.
- Investor and Buyer Access: connect with the right investors or buyers for your business and close them.
Connect with JP Errico::
Read the Full Transcription of the Interview:
Alejandro Cremades: All righty hello everyone and welcome to the deal maker show. So today. We have a incredible gift. You know I guess that they you know has not only build scale finance and done all of that but also exited. You know we’re going to be talking about the private side of things taking companies public. Doing billion dollar exits I mean really impressive and quite inspiring so without furtherdo. Let’s welcome our guest today J P Erico welcome to the show.
JP Errico: Thank you, Glad to be here appreciate it.
Alejandro Cremades: So originally you were born there. Ah in Massachusetts so give us a little of a walk through memory lane. How was life growing up and also going to catholic school.
JP Errico: Yes, so my father was a physician and had the opportunity to work in an obgyn practice up in Massachusetts which was away from his family up in Massachusetts they were. They were originally from New Jersey um and I was born up there during a ah couple of years that he spent up there but they returned back to New Jersey when I was young enough not to remember so while I was born up there I really grew up in New Jersey
Alejandro Cremades: So I guess a you know it sounds like you know there. Ah you had a ah nice childhood and 1 thing led to the next and you ended up really developing that law for problem solving and engineering. So how did you get into the whole engineering thing.
JP Errico: You know it’s interesting. I was always good at math and science. Um, and I remember in fifth grade I asked my teacher my math teacher where somebody who was good at math and science and like math and science should go to school. And she said that mit was the best place in the world I’m certain that if she had said Caltech or georgia tech or someplace like that that would have been the place that was in my mind that I wanted to go but she said mit and that’s what ah where I decided I wanted to go and I was fortunate enough to be accepted and so I went to mit and majored in engineering. Aeronautical engineering and then decided to go after ah, a law school degree because my mother had gotten a law degree so she had some influence on me as well. So I was sort of going in 2 different directions 1 in engineering and and 1 in the law managed to get a graduate degree in engineering at the same time I was. Studying law actually wrote a book on international patent law at the same time and that’s how I became a patent attorney.
Alejandro Cremades: Now that didn’t last long because eventually your uncle you know, comes knocking So what happened there with your uncle. So.
JP Errico: Ah, yeah I was only ah, actually a practicing patent attorney for a few months before my uncle called me and he’s a world-renowned Spin Surgeon actually ran the spine service at and Nyu in New York for 30 years and it was during that time when he was coming up with new ideas. He wanted to talk with somebody. And since I was a patent attorney and a family member. He was actually my godfather the 2 of us began sitting down and talking about new products and and the direction that the spine field was going and it was around that time that I realized that I was actually a pretty inventive person as well. So he and I in the first year that we were working together developed. Something on the order of I think 30 or 40 patents that were ultimately issued by the patent office and began discussions with many of the large companies in the medical device field who were in the spine world and orthopedics and that led to. Us developing a few companies and those companies licensing the technology off and seeing them through to products that could help people and it was really quite gratifying to meet people that I hadn’t met before who had actually had products that I was part of the inventive team to develop in their bodies. Um, so it was it was a very gratifying and fulfilling and financially rewarding business to be in. We would develop the ip work with large companies to see that technology actually embodied and then marketed to people and it was ah was quite quite a.
JP Errico: Quite a great time in my life I really enjoyed it. Ah, those products my understanding is that those products have done over $20,000,000,000 in sales. At this point it’s pretty pretty incredible.
Alejandro Cremades: So what are we looking at in terms of sales.
Alejandro Cremades: My god that’s ah, that’s a lot of Zeros and nJP now now now the other thing too is the impact because they have been you know, used by hundreds of thousands of individuals. You know I’m sure that you know having an impact you know making a difference you know I’m sure that that.
JP Errico: Um, it is this.
Alejandro Cremades: Probably felt very good to you and and to your uncle.
JP Errico: It is. It’s really remarkable I remember I was sitting out in California at ah at ah, but a lunch place met somebody I hadn’t met before and he was telling me about how he had been through a really very challenging time in his life after he had been hit by a car. He’d been a pedestrian hit by a car. He had serious back issues and he told me that he had had several levels in his back fused and I said really I’m sure that surgery was you know, quite quite difficult. But do you remember what screws. They used when they put you back together. You know the the screws and rods and and other things and he said yes In fact I do remember it. They told me that they were using products by a company called cynthes and I I smiled and I said you know it’s funny I think the products you have in you are actually products that I help develop. Um I hold the patents with my uncle on on those products and so it was really kind of remarkable I mean he was actually almost brought to tears over the fact that it had changed his life. He had been in so much pain prior to that and now he was able to get back on his feet and walk and run and and. Get back to what you’re supposed to be doing when you’re 25 years old
Alejandro Cremades: That’s absolutely remarkable and hey like everything you know like when you you know, create Value. You get to extract value too because one of the companies that you created you know they’re you know was spinecore using those same different ips and initiatives that you were doing with your uncle and that ended up having a really nice outcome. You know it was like your guys his first day Exit So walk us through what happened there.
JP Errico: Sure so you’re absolutely right? We developed the technology of the the initial technology in the late 1990 s and around 2001 we decided to actually take that technology and develop it into a product that we ourselves would bring to the market as opposed to simply partnering with another company. Um, we went out and raised some initial capital from friends and family who saw what we were doing and wanted to be part of it and then we went at and got some venture capital from some venture capitalists who worked with some private equity people. Um, but things moved very quickly from 2001 by 2002 We were working with the Fda to get approval to start a study by 2003 we were in the study and rapidly enrolling patients and sometime in the early part of 2004 we were approached by a company that wanted to buy us. And it was for a lot more money than we had invested into it at that time at that point including all of the different capital that we had raised we were into it for about $15000000 so we had spent fifteen million over a 3 year period done a tremendous amount of work. And the offer on the table to buy us was three hundred and sixty million dollars which you know if you do the math that’s something on the order of 24 times more money than we had spent and it was interesting because the Ceo of the company that was buying us sent me an article in which he talked about.
JP Errico: The importance of small companies and the intellectual property that they develop and how critically valuable that is to large companies and in the article in the opening line of the article. It actually cited that it was on average 24 times more expensive. For large companies to develop technologies then for small companies and I laughed because it was exactly almost to the exact number 24 times more expensive for that. But that company to buy us than it was for us to develop the technology ourselves so it was a great experience happy to have been through it. You know. There was struggles along the way but they were well worth it.
Alejandro Cremades: And how was that approach initially I mean did they reach out to you guys called be a email was it a phone call Linkedin message I mean I don’t even know if Linkedin was around at that point you know or ah, maybe like even a letter on the on the mail snail mail. So so how how did that approach happen.
JP Errico: So interesting. Um, they happen to be that company happened to be a licensee of 1 of our other products they had done very well with it and we were actually going out to dinner to sort of ah a late Christmas dinner in the in the new year to just. Rekindle our relationship and meet some new people and they’re their head of their division. Their their president came up to me and to my uncle who is my my business partner and said we’re really interested in this other product that you’ve got in this other company. We’d like to put a bit in to buy you if you’re interested. Um, there were other companies that came to the table shortly thereafter also asking but we ended up doing that deal.
Alejandro Cremades: That’s incredible now. Obviously 360000000 as you were saying that’s life changing.
JP Errico: It is of course I didn’t take all that or we had investors we had private equity equity involved and the deal was structured as many deals in the in the medical device and biologics and pharmaceutical spaces are with what are referred to as contingent value rights. So. The actual upfront payment was one hundred and twenty million dollars of the 3 60 um and the balance of the two hundred and forty million dollars was structured in contingent value rights which means that getting that money is contingent on certain milestones being met. Um. And I would say that the lesson that I learned from that experience is that when you structure deals in that manner you want to make certain that you retain the ability to control the success of those of those contingent events. You want to be able to make certain that you meet those milestones without interference or control by influences that might otherwise try to stop it and so you want to you want to make certain that you do that the right way.
Alejandro Cremades: Yeah I mean you typically see that too on deals. You know where they structure as an earnout based on like milestones and things like that and I fully agree with you because you know that ultimately is a risk and you got to do as much as you can to the risk and being able to unlock that. So absolutely what about. What about here you were saying that you guys raised from private equity firms. How was that they like because obviously you know the p firms they’re like sharks. You know they’re all about numbers. You know vcs they typically invest more in people. But how is it like you know like dealing with the private equity firms. You know here in this year
JP Errico: I was a little challenging. It was challenging I will say that there were points along the way where I became very disillusioned by the whole process. Um I would I would really point to one moment we had. We had gotten this offer in across the across the transom from this company. Wanted to buy us for three hundred and sixty million dollars and at that point my investor group including lots of friends and family et cetera. We owned about 2 wo-thirds of the company and but the venture capitalists and the private equity people they were opposed to us selling I mean imagine you’ve you’ve put. $15000000 into a company and you have an opportunity to sell for 360 that seems like a gigantic win. But sometimes these private equity groups. They don’t want to do that they want to continue to invest because they believe that the value of this company could ultimately be a billion dollars and so I remember very clearly having a conversation in which they tried to convince me. That I should stay on and we should stay independent and that we could ultimately create a billion dollar company and I asked I said okay, that’s very enticing very alluring but tell me how much will I in my investor group own of the company. At that time when we have that billion dollar exit versus the three hundred and sixty million dollars exit and they were proud to tell me that it was very possible that we could own as much as 25% of the company at that point and so I did the quick math in my head and I said well 25% of a billion dollars is 250000000 but.
JP Errico: 2 thirds of 360000000 is ah is 240000000 and so I turned to them I said so basically you want me to give up 240000000 to get 250000000 but in the process take on a tremendous amount of risk and what could be 5 to 10 years worth of effort.
JP Errico: Why would I do that I understand from their perspective they were going to go from making 120000000 to making 750000000 so it was a huge increase for them but not for us and so ultimately I I convinced them that it was better for everybody involved if we if we sold.
Alejandro Cremades: So amazing outcome. Obviously you know great great returns for everybody now k two you know k 2 comes knocking. You know as the next opportunity because as they say once an entrepreneur always on a entrepreneur. So what happened next? okay.
JP Errico: Yeah, so it was actually around the time that we were first negotiating and building um to the sale of spincore that a group of people that I was close with and that what my uncle was close with came to us and said that they were thinking about starting a company. Um, and did we have any intellectual property that we might want to invest into what they were doing and so we got involved in strategically planning how the company was going to be formed and how it was going to be built and we weren’t going to take an active role in driving the operations of it but we were going to help them raise their first capital. And help them with the intellectual property and that company was it was such a great experience to be sort of on the outside of another group building something because I had written all of my experience had been with my own group but watching them function and how they work together and how they thought about things because. Was coming at it for more from the science and the engineering and the financing side they were coming at it from the sales and marketing side of it and it was great to see how their strengths built their company in a sort of a different direction. They were very successful in what they did they ultimately that that company was called k two medical. They ultimately were acquired by a private equity group. The management team stayed on fully invested and ultimately the company went public and it was ultimately coincidentally bought by the same company that bought spinycor so it was ah it was a great exit for them I think it was ah a.
JP Errico: Billion 4 or something I built one point four billion so a great exit for them as well.
Alejandro Cremades: That’s absolutely unbelievable I mean second company you know second like massive exit like that I mean did it were you like a little bit scared of hey you know like things are going too. Well here you know I I don’t want to get too cocky.
JP Errico: No, because you know what I’m not talking about are the few failures that I had along the way. Um, and there were some You know we started a ah pharmaceutical company looking to develop an oncology product with some intellectual property that I had come up with and we had some. We had some.
JP Errico: Good success is along the way but and I still think that the technology is ah is a good idea but you know as with these things it’s it’s something of ah a roll of the dice and the product that we the specific product we developed just ended up not being quite as as powerful as we wanted it to be. Um, and other products were better. Another example was some technology that we were given by the acquirer of spiny corp they wanted us to develop it. They felt that we were better better suited to developing it. It was in the gastric bypass field. We developed some other intellectual property. We got. Through animal work that looked really positive but a competitor in the space ended up having some catastrophic failures with their product that actually ended up killing some people and even though our product had avoided the the features of the product that would have. That caused those problems it put a taint on the whole industry and as a result even though he had invested. Ah you know a significant amount of money into it a few million dollars at that point we really just had to close shop because the the Fda was just no longer going to be interested in products like that because of what. Another competitor had done to us so you have to be you have to be careful of all sorts of different things that can trip you up along the way.
Alejandro Cremades: Now in this case, you know 1 thing that you definitely got right? was developing relationships with the strategics. What have you learned about this.
JP Errico: Um, I think that developing relationships with strategics can be very powerful. Um, you know one of the major investors in ah in another company which is I’ve spent a lot of time on and is now publicly traded is a company called Electriccorp. When we originally started that company in 2005 late 2004 early 2005 um, that company raised probably $30000000 from friends family and close associates and people who wanted to be invested with us and our our core group of partners put in lots of. Ah, lots of that but we went out and spoke to Merck and Merck ended up being an anchor strategic into a medical device company now Merk is a pharmaceutical company. They don’t sell medical devices and so it was never it was never intended to be. Something where their investment was going to lead to them buying us. But it also I think had something of a chilling effect on other strategics wanting to be invested in us so we had ended up having to do it all with ah with investment raises from. High net worth individuals and Merck and a small private equity group that decided to come in so we ended up raising close to two hundred and fifty million dollars to get to the point where we could take that company public with.
JP Errico: With ah without ever actually going out and raising traditional venture capital.
Alejandro Cremades: So just so that people you know, end up getting it. You know in a way that is that is simplified especially for the people that are not so technical. What is the yeah business model of electro core. How do you guys make money there.
JP Errico: So electricorre developed a neuro modulation device. There’s a a technology called vagus nerve stimulation which has been around for about 35 years it was developed in the late 1980 s by. Ah, company out of Houston Texas called cyberonics and they had an implanted device much like a pacemaker. In fact, they used to refer to it as the pacemaker for the brain. Um, it was implanted into the chest wall like a pacemaker but instead of the leads going to the heart. The leads went to a nerve that sits in in your neck. It’s actually right next to your car crodid artery and that technology was used to treat epilepsy and ultimately they also got an approval to treat refractory depression but it required surgery and it was about a $30000 investment to get that get that implant in place. We started studying and and based on some research that I had done I realized that that product could be used to treat other things and that what we needed to do was focus on other places where cyberonics hadn’t been looking one of which was in anaphylactic shock another was in asthma. And that ultimately led us to treating very severe forms of headache cluster headache migraine headaches and going through the Fda and getting clearances to start marketing. The product. So currently, we are our electricorp is selling 2 products one is called gamma core.
JP Errico: And it has the Fda clearances to treat migraine headaches, cluster headaches and and other very severe forms of of headache and they do that through a salesforce that calls on the the va calls on um on medical practices to either prescribe or to actually buy and then. Sell through their practices and we just ah, recently at the end of last year decided to launch a wellness version of the product a vagus nerve stimulator that is for stress and and managing your stress resilience and your your whole. If. You want to call it your sympathetic axis that when you’re in sympathetic overdrive. You’re very stressed at’s your fight or flight response. Um and helping to manage yourself out of that into the rest digest rebuild and restore mode which I think everybody in this world needs right now I think are. I think our world is in sympathetic overdrive and we need to ah we need to all take a chance to to take a deep breath and and relax and our product true vega really does a great job with that I would encourage anybody to go to the true vega.com website. Check it out I think you’ll you’ll see some great testimonials from people who’ve used the product. These are real people really use the product and and the the thing that they always talk about is how much it gives their it gives them their life back that they felt that their their lives were hijacked by stress by not being able to sleep by not being motivated by the.
JP Errico: Fatigue of of carrying all that anxiety around and it just it helps them manage that so much better.
Alejandro Cremades: Now in this case, you know for you I mean you started there as the you know like you had the role of a chief executive you know for about 8 years and then you know like as they say you know founders you know the role in a company you know is going to It’s going to transform. It’s going to transition. You know as the company you know my church as the company goes from 1 chapter to the next how has your role changed because you you were the chief executive officer then you know you you transition all the way now to being a board member. So how has that you know journey been for you.
JP Errico: Um, you know as with all Journeys there’s ups and downs. Um I feel that my strength in being an executive or chief executive or in the c-suite has always been on managing people and managing technology and managing finance. When it comes to marketing and sales. Um I I didn’t have that background didn’t have didn’t have grow up in the field learning that side of the business. In fact, when I when I talked about k two medical. It was great to partner with people who had those as their as their strengths. Because those I didn’t think were my strengths. Um I think I’ve learned a lot about those areas along the way. But when the company reached the point where we felt it was. We were close to getting our approvals and needed to go out and deal with insurance companies and deal with distributors and deal with. With pharmacies and pharmacy benefit organizations. Those were those were things that I had never done before so I was I’m very fortunate I have a wonderful wife. My wife has has been in the pharmaceutical field as ah in hr so she gets to know everybody? Um, and so she made some introductions to me. Ah, for people who could come into our company learn it and then ultimately succeed me in in running the operations and becoming the chief executive officer. Um, and that’s what we did. So I I transitioned from chief executive officer into chief science and strategy officer.
JP Errico: Which is a role that I held and and gave me the opportunity to take the company public I really spearheaded that that opportunity while our Ceo really kept the day-to-day business going. Um I had the opportunity to interface with the bankers and the lawyers and the investors and. And go through that process. It was a fabulous fabulously interesting process that takes about eight or nine months it worked out very successfully. We raised close to $100,000,000 I think a little over $90,000,000 in our Ipo. It was a screaming success and. And I enjoyed it a lot I I would caution everybody though if you’re thinking about going public remember that going public is a financing event. It is not an exit when your company is bought. That’s an exit when you have the opportunity to sell your shares you know, hopefully at a profit that is. An exit. It’s not an exit to go public. It’s ah it’s a milestone one that should be celebrated one that should be enjoyed. Um and you’ll learn a tremendous amount I always suggest getting people who’ve been through it to help guide you but it’s something that you have to go through to understand and it’s.
JP Errico: It’s a wonderful experience but don’t think of it as as an end. It’s just a new beginning.
Alejandro Cremades: And I love how you say that you know it’s interesting. You know there’s been other people that have come to the to the show and have shared the um the ipo experience like eating shrimp you know in in private jets with the bankers going from 1 place to another. You know what? what when you were saying that you enjoyed it I mean what? what were the parts that you enjoyed the most you know of that the process of going public.
JP Errico: You know I Love talking about the technology and I love talking about our business I Love talking about the potential of this therapy to do so Ah So many things? Um so any opportunity for me to talk to people at any level whether it be you know. Literally ah a customer walking up to a booth and talking to me about what the the therapy can do to the leaders of ah of an insurance company to bankers who are interested in investing or finding investors for us to investors I Just love talking about. In fact, somebody once said, that.
JP Errico: I don’t think JP has ever sold anything. He’s proselytizing. So I do feel like I’ve got that preacher or teacher spirit in me more than sales I like to be to get other people to be as enthusiastic about what I’m interested in and what and show them. How it affects their lives and how they should be excited and interested in what we’re doing sometimes I’m successful. Sometimes I’m not but that’s that’s why I found that process so exciting because it was meeting so many new people and people who were open and interested to hearing our story. That’s why I found it really it was exhausting. Don’t get me wrong and and there was no flying around on private jets and eating shrimp. It was it was commercial. It was economy flights but it was 2 or 3 a day for you know, two or three weeks flying to different cities meeting with people and. And I just found that the meetings were the exciting part. Obviously you know hotels and and taxic cabs and you know getting to airports and struggling through security lines and ah, that’s not the fun part but the fun part is succeeding at what you’re doing and getting all of these people. Interested in what you’re doing and interested in willing to invest.
Alejandro Cremades: I Love it now. Imagine you were to go to sleep tonight and you wake up in a world where the vision of electro core is fully realized what does that world look like.
JP Errico: That’s a wonderful question. Um in that world. There are so many people who are feeling less pain who are experiencing cognitive clarity. Brain fog has been lifted. Um, there’s less. There’s less Autism. There’s less Schizophrenia. There’s less depression. Um, there’s fewer people suffering with autoimmune diseases. Um. That’s what I think the the ultimate promise of this therapy is and and and whether it be something that Electricorre does or it’s one of our competitors whether it’s that company cyberonics which is now called Levanova whether they advance the technology in in the world that I want to wake up In. Where electricor has been successful all of those other companies have been successful and the and the world has been has has grown and advanced because they’ve understood how vagus nerve stimulation can be beneficial I. I was just talking to some people and I said I really feel as if I am incredibly blessed I feel as if this journey of developing this company somewhere along the line a wormhole in space time opened up and the instruction manual for life.
JP Errico: Written 1000 years in the future has landed in front of me open and I had like a minute or 2 to leaf through it and look at it before it evaporated into the ether and so I had the opportunity to see it just a couple of pages of it and read it and understand it and that’s what I want to bring to the world. Want to bring to the world that little bit of understanding how human beings and frankly, how life works and and and explain to them how veggus nerve stimulation. We’ve known about it as ah as intuitively for 10000 years Ayurvedic Medicine Ancient Chinese Medicine and acupuncture ancient egyptian medicine all of those things were based on the idea that the human body has 2 2 places 2 modes that it can exist in it. It can exist in that fight or flight sympathetically driven mode. Or it can exist in arrest and digest and restore and rebuild mode if you spend too much time in that sympathetically driven state you are going to find yourself in pain. You’re going to find yourself anxious and depressed. You’re going to find yourself having difficulty sleeping you’re gonna find that you’re. Gastrointestinal trackc isn’t functioning properly. You’re going to find that your metabolism is disrupted. You’re going to find that you may even come down with cancer and you may have joint problems and rheumatoid arthritis if that lasts too long. You have to be able to shift back efficiently shift back into that mode.
JP Errico: Of rest and digest and restore and unfortunately a lot of western you know western society and western culture is geared around 20 so 24 enty four seven access with our cell phones constant screen time demands of work that never end. Um, financial stresses. Um, you know trying to manage your children. All of these things leave us in a permanently stressed state and more and more we’re we’re pulling back from the social interactions and the enjoyable things that we need to we need to have in our lives and so. I think what vagus nerve stimulation allows us to do is to very briefly shift back into that rest digest and restore state and hold onto it for a period of time necessary that our bodies can heal and our bodies can get centered and we can be back into that. And I don’t want to sound woowoo and new age because there’s a tremendous amount of real science I mean I’m an mit guy I want real science I want to understand the mechanisms so we’re there but that world that you’ve described or that you’ve asked me to describe is one in which people have. Come back to recognizing how important that is and that they’re using various techniques various technologies. Hopefully some of it is is technology that electricor has to get back into that healthy state. It will make you smarter. It will literally make it will change your iq. It will make you smarter.
JP Errico: Will make you more capable of managing life stresses. It will make you more capable of having the energy that you need to in order to to live life to the fullest. So I want people to feel amazing I think that that world in which I wake up in in the future and people are using this technology and and doing it.
Alejandro Cremades: I Love it now. We’re talking about the future here. So let’s talk about the past and doing so with a lynch of reflection imagine I was to bring you back in time and I bring you back in time to that moment where you’re a patent attorney you know right? before you know you receive that phone call from your uncle.
JP Errico: That’s what it’s going to look like.
JP Errico: Okay.
Alejandro Cremades: And you’re able to just enter the office and just have a sit down with that younger self and you’re able to give that younger JP 1 piece of advice before launching a company. What would that be and why given what you know now.
JP Errico: Take all your money invest in Amazon um, um, I’ve thought about that one a lot because there’s been a few times along the way where I had some extra money and I didn’t do that and I wish I had but in all seriousness I would I would tell myself.
JP Errico: That not everybody who appears to be a friend is and not everybody who appears to be disinterested is an enemy and everything will happen if you keep working at it. Um. Early on so it was after that that that time that you’re talking about early on I realized that so long as you’re not breaking the laws of Physics So long as you’re not doing that. Everything is possible. The only thing it requires is energy. And so the question is how much energy are you willing to put into it in order to make it successful because you can do it and you have to believe in yourself. But you have to do it with a level of dedication that you. You really have no idea what it’s going to take until you’re in it. Um, it’s tremendously fulfilling. It’s like being a parent honestly, it’s It’s like having another child I have 4 children 4 living beings. Um I have a couple of other children that are in the form of products and technologies and companies and. They all take a tremendous amount from you but they give back such an incredible gift. Um, so be willing to put the time in be willing to put the energy in be willing to sacrifice because it will come back to you. It will be come back to you in a positive way.
Alejandro Cremades: I Love that So JP for the people that are listening. You know that will love to reach out and say hi. What is the best way for them to do so.
JP Errico: You know I have a website JP errico.com happy to have everybody go there and check check that out. It’s it’s still in the process of being built. It’s always being renewed. Um, there’s also a great way to to hear this story if you have interest in Veggu nerve stimulation and in. In how we can become healthier beings. Um I do a podcast called the Health Upgrade Podcast it’s it’s my cohost is ah is a is a great health care provider by the name of Dr Novaz Habib so go So the health grade up upgrade podcast and and frankly if they want to. Ah, get to me you know, ah go go to those websites and and leave me a message I’m also on Instagram as you know, not surprisingly the vns guy so it’s the v n s guy um guy and love to hear from people would love to hear people’s stories and. And if they have questions they can direct. You know, direct message me and I’m I’m usually pretty responsive. So I’d love to talk with them about anything whether it’s be business finance or frankly health I love I love talking about it.
Alejandro Cremades: Amazing. Well hey JP thank you so much for being on the deal maker show. It has been an honor to have you with us today. Thanks.
JP Errico: Ah, Handra appreciate the ah the opportunity at really had fun.
* * *
If you like the show, make sure that you hit that subscribe button. If you can leave a review as well, that would be fantastic. And if you got any value either from this episode or from the show itself, share it with a friend. Perhaps they will also appreciate it. Also, remember, if you need any help, whether it is with your fundraising efforts or with selling your business, you can reach me at [email protected]