Challenges:
There are significant challenges that lie ahead...
Now that we have secured the patent rights to the TunaFin's innovative FinDrive system, we are entirely focused on the imminent launch of our crowd funding campaign on KickStarter.com. The real challenge that we are faced with is getting the idea, writ large, into the mind of the consumer, and onto his Christmas wish list, so to speak.
TunaFin, LLC needs to secure funding to move the design process forward. At this point, I have a resilient and well functioning design, but the production of the component parts is as yet still being done in an early prototyping manner. There are parts that will need to be made in much larger batches to support the expected demand for our upcoming crowd-funding campaign, and this will require an investment of capital.
The model that I would like to pursue going forward is (again) through crowd-funding. This is a well proven method for getting new products, where corporate backing is not presently desired, into the market place. Some of the universally recognized benefits to going this route are as follows:
1) Funding is secured for the production of prototypes for consumer feedback.
2) Concrete knowledge about consumer tastes and preferences are gathered.
3) Consumer interest can be gauged and marketing strategies honed.
4) Company value is bolstered and the return on investment is maximized.
5) A valuable list of early adopters and product evangelists is generated.
6) Potential investors can be identified through customer contact information.
7) And final design modifications can be implemented before product launch.
These benefits have the primary effects of increasing knowledge, reducing risk and maximizing return for the IP. Upon the conclusion of such a campaign, and the attainment of a few other milestones, we would be ideally positioned to offer the IP for sale or license.
Some of the other milestones that I envision for the optimization of investor return are; the production of a film about TunaFin and its journey to the market, to be screened at the Save The Waves Film Festival; the operation of a booth at one or more of the surf industry expos, and I want to win the grand prize at the IPSO Munich trade show competition. I have worked to generate valuable contacts with respect to each of these areas, and I am confident that TunaFin will be well received.
Finally, It is important to note that what is needed most, at this point, is the money to move forward with a narrowly focused, results oriented strategy. We will need to build new prototypes to put in our crowd-funding campaign and to offer for jury consideration at ISPO Munich. We need to launch the crowdfunding campaign, while concurrently running several demo events to help build interest and drive traffic to the Kickstarter.com site. And we need to begin production of the TunaFin film, offering it as part of the overall crowdfunding strategy.
Now that we have secured the patent rights to the TunaFin's innovative FinDrive system, we are entirely focused on the imminent launch of our crowd funding campaign on KickStarter.com. The real challenge that we are faced with is getting the idea, writ large, into the mind of the consumer, and onto his Christmas wish list, so to speak.
TunaFin, LLC needs to secure funding to move the design process forward. At this point, I have a resilient and well functioning design, but the production of the component parts is as yet still being done in an early prototyping manner. There are parts that will need to be made in much larger batches to support the expected demand for our upcoming crowd-funding campaign, and this will require an investment of capital.
The model that I would like to pursue going forward is (again) through crowd-funding. This is a well proven method for getting new products, where corporate backing is not presently desired, into the market place. Some of the universally recognized benefits to going this route are as follows:
1) Funding is secured for the production of prototypes for consumer feedback.
2) Concrete knowledge about consumer tastes and preferences are gathered.
3) Consumer interest can be gauged and marketing strategies honed.
4) Company value is bolstered and the return on investment is maximized.
5) A valuable list of early adopters and product evangelists is generated.
6) Potential investors can be identified through customer contact information.
7) And final design modifications can be implemented before product launch.
These benefits have the primary effects of increasing knowledge, reducing risk and maximizing return for the IP. Upon the conclusion of such a campaign, and the attainment of a few other milestones, we would be ideally positioned to offer the IP for sale or license.
Some of the other milestones that I envision for the optimization of investor return are; the production of a film about TunaFin and its journey to the market, to be screened at the Save The Waves Film Festival; the operation of a booth at one or more of the surf industry expos, and I want to win the grand prize at the IPSO Munich trade show competition. I have worked to generate valuable contacts with respect to each of these areas, and I am confident that TunaFin will be well received.
Finally, It is important to note that what is needed most, at this point, is the money to move forward with a narrowly focused, results oriented strategy. We will need to build new prototypes to put in our crowd-funding campaign and to offer for jury consideration at ISPO Munich. We need to launch the crowdfunding campaign, while concurrently running several demo events to help build interest and drive traffic to the Kickstarter.com site. And we need to begin production of the TunaFin film, offering it as part of the overall crowdfunding strategy.