25A – What’s Next?

Existing Market

After goals have been met regarding growth of revenue and product exposure I want to push into providing new products that will imitate current products but because of our customer satisfaction and engagement they will purchase our products to satisfy their need. The products will be extremely similar and not show signs of cheaper production.

I was able to talk to three people that enjoyed the outdoors and have been exposed to a situation where they have a need for a product similar to mine. In the conversations I asked them if the product I am offering would be handy to them (non-diabetics) and if not what product could I develop that they would like. Each of them said it would be handy in some sort of medical kit for them but to develop a good cooler for the outdoors and of course that is basically yeti. I asked what other products should we look at developing and they mentioned different types of cups, back packs, and other outdoor travel gear that requires rugged and waterproof designs.

After my conversations I want my company to have the appeal of a nonprofit to a community but still have the full attention with complete transparency that a for profit company can have. I want to see my company hosting events for different organizations and promoting different research to help cure different medical conditions that every can experience. I want to see my company at the forefront of promoting medical research and advancement all by creating this environment of extremely hard work, truth and comfort.

I want to see this company develop and turn into something that becomes an organization that resembles the entrepreneurial drive of Elon Musk (same, but different - The Interview) without the social backlash.

New Market

The focus of the business was going to be a B2C driven force but when looking at developing a B2B force it can change the entire advantage of our business. We are looking at taping into a community created by the businesses vision and values.

When trying to sell to individual distributors instead of individual consumers that may become more difficult unless we brand our items with theirs and they purchase in bulk that can meet a similar revenue goal and along with the purchase of our product we provide them with customized marketing strategies to promote our product within their business.

I was able to interview 2 people and explained to them the original idea my business and how it would create its own niche market within individual consumers and explained the new idea of selling the products we develop to other companies to promote and sell as their own. After explaining the human capital the original business is expected to poses they concluded that the new business design would not be able to function effectively because I only lead with 1 product and my name and the community revolving around it was going to assist with any sales and growth.

The new market would not work because I am basically selling a name and incentive to my customers. This can only be achieved when interacting with individuals and not business entities. I could not promote the company the same because the face would be hidden and the same values could not be easily translated through the new distributors. What I found interesting along the way is that most companies employ the same survival tactics that my company will eventually utilize. We will eventually have to mimic products and slightly alter them to appear as ours and cause consumers to change to our product because of our name and keep current customers in a lifelong relationship because of the customer interaction and engagement we want to offer.