1 / 9

COOL-IT

COOL-IT. Innovation Fueling Champions Levi Spain. The Industry. The Pursuit of Perfection. Meet a need. The show cattle industry is highly competitive Exhibitors are willing to do almost anything to get an advantage They say hair is money…

marlis
Download Presentation

COOL-IT

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. COOL-IT Innovation Fueling Champions Levi Spain

  2. TheIndustry The Pursuit of Perfection

  3. Meet a need • The show cattle industry is highly competitive • Exhibitors are willing to do almost anything to get an advantage • They say hair is money… • Nine times out of ten the calf with the most hair will win • Countless hours are spent maximizing hair growth • Supply and demand • With such a strong demand for an outcome we set out to develop a product that will provide a innovative solution • By doing this we created a product that gives exhibitors the advantage they are looking for

  4. OurProduct

  5. Interactions • The Exhibitors • We talked with over twenty different exhibitors about the needs they had and applied that knowledge to our product design • The Distributors • Sullivan’s Supply • Showstoppers • Weaver • Other Entrepreneurs • We were able to contact a guy who had done something similar to us and gave us insight to what we could expect and how to best deal with the larger companies

  6. CanvasChanges • Partners • Key Activities • Key Resources • Customer Segments • Value Proposition • Channels • Customer Relationships • Revenue Streams Customer Segments Value Proposition Key Activities Key Resources Partners

  7. LessonsLearned • I learned many different lessons throughout this process • The best way to learn is by doing • Class learning isn’t always accurate with the real world • Working with a large company • We spoke with three different large companies and learned how they operate • They move at a much slower pace than a entrepreneur • Looking out for the best interest of their company • Want the competitive advantage over the competition • Business Lessons • If you have a product that fills a consumer need companies will want to work with you • Understand the consumer and the needs they have • Establish goals/ expectations upfront

  8. Results • We had some specific goals in mind at the start of the project • $20,000-40,000 upfront payment • This gives the company full rights to our product • 12-17% royalties on the profit of each unit • With a minimum of 1500 sales per year • Outcome • We partnered with Sullivan’s Supply because they had the most to offer us • Largest market share • Product development/ marketing • As of right now they have said that there should be no problem meeting numbers in the range we are thinking. • They are still doing product development so could not give us the final numbers until they finalize the development.

  9. Wheredowegofromhere? • This Product • We are very pleased with the response we received from all of the companies • There is a need in the industry we believe we can fill • Moving Forward • We have a number of products that we are developing and will offer to the companies in the next few months • Biggest takeaway • There are some real challenges when developing a product for a company. Overall it is really fun to work to understand the industry and meet a need within it • Patience and persistence

More Related