Beyond Products
Question 1: Evaluate the different market opportunities available to Peter, taking the financiers’ perspective. What would be your recommendations as a business angel?
The success of the flow binding shows that people are looking for a better solution than the now available bindings. Hereby, it is clearly very important to keep the soft boots, as they provide the snowboarders the necessary comfort, together with the ease of the step-in bindings. However, attention need to be taken into account to avoid the disadvantages of the flow bindings.
As a business angel I would trust Peter on this matter, as he has been a semi-professional snowboarder. He knows the important characteristics the bindings must have in order to be the most user-friendly and the most efficient. Next to that he has experience as product developer, which makes him the perfect person to develop the best product. Both the necessary features as the design should be of a good quality in this case.
Moreover, multiple opportunities are provided within the market. Each will be discussed in more detail.
• A great opportunity is the fact that the product first can be tested by professionals before commercializing it. This provides you with the opportunity to be sure that the binding is better than the existing ones at the moment and can give you some tips to fully optimize it. These people are fully aware of the advantages and disadvantages. However, some attention need to be given to the fact that they are most of the time sponsored and thereby can be biased towards their gear at the moment.
• Once it is completely ready, you can first test the sales on a smaller market, Europe, before the need of fully globalizing to the US, Japan and Canada. This opportunity is not negligible as this can give you a view on the sales volume and periods.
• Moreover, the different fairs can provide you with the opportunity to convince a lot of people in a short time period, if you deliver a good promotion. Here,
The success of the flow binding shows that people are looking for a better solution than the now available bindings. Hereby, it is clearly very important to keep the soft boots, as they provide the snowboarders the necessary comfort, together with the ease of the step-in bindings. However, attention need to be taken into account to avoid the disadvantages of the flow bindings.
As a business angel I would trust Peter on this matter, as he has been a semi-professional snowboarder. He knows the important characteristics the bindings must have in order to be the most user-friendly and the most efficient. Next to that he has experience as product developer, which makes him the perfect person to develop the best product. Both the necessary features as the design should be of a good quality in this case.
Moreover, multiple opportunities are provided within the market. Each will be discussed in more detail.
• A great opportunity is the fact that the product first can be tested by professionals before commercializing it. This provides you with the opportunity to be sure that the binding is better than the existing ones at the moment and can give you some tips to fully optimize it. These people are fully aware of the advantages and disadvantages. However, some attention need to be given to the fact that they are most of the time sponsored and thereby can be biased towards their gear at the moment.
• Once it is completely ready, you can first test the sales on a smaller market, Europe, before the need of fully globalizing to the US, Japan and Canada. This opportunity is not negligible as this can give you a view on the sales volume and periods.
• Moreover, the different fairs can provide you with the opportunity to convince a lot of people in a short time period, if you deliver a good promotion. Here,