The company has successfully completed a feasibility study. The result of this feasibility study is a comprehensive and achievable business plan. Ahead of this study, the company had clear and accurate technical knowledge, but there was a lack of in-depth market and commercialisation knowledge. The primary business goals of the study were to develop a business plan with a focus on market, go-to-market strategy, customer insight, competition, risk management & financials. The technical goals of the project were to develop strategies for mass manufacturability, scalability, Intellectual Property, and product completion. In pursuing these goals the company had to develop strategic relationships with partners that would work to implement these strategies successfully. The company also hired a high-profile recruit, a former Irish International Rugby player whose network in professional sports(ex-international athlete), combined with his experience in sales in Sports Analytics makes him the perfect employee to develop and implement the sales strategy and help grow this company successfully.
The primary business goals completed in this project were:
>Customer & Business Model Validation
>Quantify the Size & Reachable Market
>Establish a Sound Go-to-Market Strategy
>Accomplish accurate 5 Year Financials
>Complete a Risk assessment & Contingency Plan
The primary technical goals completed in this project were:
>Assess Mass Manufacture Strategy & Implementation.
>Define & test a minimum viable product
>Establish effective & comprehensive IP strategy
Interviews with potential customers, users, competitors and industry experts were key to achieving the company’s research goals into the market. These interviews gave a broad understanding of the purchase trends of the target market, purchase influencers, price points and other key market information that led to the development of a market research report and a following Go-To-Market strategy that is summarised in this report. The interviews mentioned above, along with user studies, comparative studies and validation studies were key to defining the minimum viable product. This information was used with the technical partners to develop a project roadmap towards a commercialisation ready product that is ready for manufacture and suits the exact needs of the customers.
Through this feasibility study, this project has evolved from a good technical project, into an excellent business opportunity. It is clear from the results of this feasibility study that there is a great opportunity to continue this project and establish an innovative company, with disruptive market technology and revolutionise the sports analytics industry.
