Michael Petersen is lifting the hood on the car repair industry for the benefit of car owners

Designing Successful Startups

Guest Bio for Michael Petersen

Michael Petersen is a distinguished Founder, Engineer, and CXO who is recognized as a visionary Global High-Tech Product and Marketing Executive. His expertise lies in turning innovative ideas into profitable ventures.

Currently leading Raise a Hood, Petersen is spearheading the transformation of the automotive repair industry. His startup synergizes crowd-sourced insights, expert guidance, and machine learning to vastly improve vehicle maintenance for consumers and independent shops. A notable achievement is the creation of GUS, a patent-pending AI engine that blends traditional machine learning with the wisdom of veteran mechanics.

Petersen’s impressive career trajectory includes influential roles at Ford Motor Company, Dell Computer, Motorola Solutions, and Zebra Technologies, contributing significantly to specifically in the field of engineering, product design, and product management. He holds an MBA from the University of Michigan, an MS in Automotive Engineering from Purdue, and a Bachelor’s in Mechanical Engineering from the University of Minnesota.

An individual of diverse interests, Petersen is passionate about teaching racing schools and adventure motorcycle riding. His active involvement in communities and non-profit organizations highlights his dynamic, all-encompassing approach to leadership and innovation

Summary

In this conversation, Michael Petersen discusses the motivation behind creating Raise A Hood, a platform that aims to improve the vehicle ownership experience. He highlights the challenges faced by average Americans who drive used vehicles and struggle with high maintenance and repair costs. Michael explains the need to connect customers with trustworthy repair shops and provide them with relevant information to make better decisions. He also shares insights into the funding process and the importance of grit and perseverance in building a successful startup. Overall, Michael's goal is to make vehicle ownership more affordable and convenient for everyone.

Takeaways

• The majority of Americans drive used vehicles and face high maintenance and repair costs.
• There is a need to connect customers with trustworthy repair shops and provide them with relevant information.
• Building a startup in the automotive industry is a complex problem that requires a deep understanding of technology, engineering, and commercial leadership.
• Grit and perseverance are essential qualities for startup founders to overcome challenges and achieve success.

Links

Link to Jothy's site: http://jothyrosenberg.com

Link to Raise a Hood site: https://www.raiseahood.com/

Link to Podchaser to leave a review: https://www.podchaser.com/AdventuresOnTheCanDo

Chapters

00:00 Introduction and Background

00:45 The Problem with Vehicle Ownership

07:09 Funding and Investment Rounds

09:31 The Minimum Viable Product and B2B Strategy

13:02 The Average Age of Cars and Market Size

15:09 Company Size and Location

16:20 Investor Landscape and Geo-Location

40:20 Future Plans and Leadership

42:28 Closing Remarks