It’s been a busy week at the Lab for all teams. At Team Reyedr its full on; I’m approaching the tail end of our target for thirty three 1 on 1 interviews. Though validation takes up much time, for me as CEO this is one of the best aspects of my job when I connect with passionate bikers and our future customers. The other external aspects of my role that I enjoy is networking, and the opportunities it presents for collaboration. Internally, I enjoy working with my team and their relentless dedication for execution, despite the pressure. While Jens is busier than usual with development targets for demo day; Simon and Gary have been busy producing a new product video on top of their ongoing tasks: Simon’s UI design improvements and Gary’s ongoing efforts to improve the website. It’s indeed very exciting to see our idea coming to life!

 

Business Model

Our venture is conceived as a born-global firm; launched to exploit a global niche from the first day of operations. North America is our main market followed by the EU and Oceania. Initially, our business model will be developed around international sourcing and production, collaboration, online sales and 3PL distribution. As we ready to scale for growth, retail channels will also be added.

Our core activities will include:

  • Hardware and Software product development; Vendor development and Supply chain; Online support.
  • Marketing & Sales: customer engagement, acquisition and retention.
  • IoT platform: open source API development and app functionality plug-ins, IoT partnerships development.

Being a start-up, collaboration with external stakeholders is key: Investors; IT developers; component suppliers; ODM/OEM manufacturers; 3PL supply chain; API alliance networks.

Outsourced manufacturing through offshore ODM/OEM firms with suitable technological and production capabilities will result in lower costs due to an asset light model.

 

Risk & Mitigation Strategy

When carrying out a risk analysis for strategy and operations, we also considered potential risks from the macro environment; presented below in our contingency plan.

Table_Risk_mitigation_Strategy
Risk & Mitigation Strategy

 

Accomplishments Week 10 (GBUR)

Good:

  • Mentor Appreciation Dinner at Deloitte on Thursday
  • Ken’s pitch for Reyedr at the Deloitte dinner was awesome (we still think he was the best!)
  • Facebook page more than 1000% visitor increase after a few comments of a Facebook post about BMW helmet
  • Only four 1-on-1 interview left to reach the target
  • Another discussion with the NZ author of the trip advisor book (to use some of his routes in the REYEDR App). He can also provide several rides for Aus & USA. Presently working on modalities of click through profit share. Looking positive.

Bad:

  • Hardware prototype won’t be the way we wanted it (but final product not affected)
  • New website needs to be finished soon to include more information
  • Video production in short time for HAXLR8R and teaser on website and in forums
  • Need to prepare Highway 1 hardware accelerator submission – just in case
  • Long weekend and nights ahead until at least 22nd to achieve what’s possible to produce a software MVP, which includes features planned only for release in October
  • Less time for pitch practise for Kal this week, needs to practise more in the coming week

Ugly:

  • Internet today was not working for a while
  • The app design, working in simulator and Android device, looks different in iOS
  • Newsletter still not done, needs too much time, this week there wasn’t enough

Rock:

  • Xero login still not sorted
  • Jens couldn’t sell his car yet (more of a headache for Jens, than a rock)

 

If you missed any previous weekly roundups (link to our archives below):

 

Week 1 What is REYEDR?

Week 2 The Market

Week 3 Our Mission

Week 4 REYEDR Community; Revenue Streams

Week 5 REYEDR: at the cusp of key Macro Trends

Week 6 Validation; Marketing & Sales Strategy

Week 7 Route to market

Mentor profile: Alan Crofts Strategy & Business Design

Alan_Crofts                     Alan_s_Bike

Alan Crofts is an ex techie who escaped from a commodity trader in London, to a slightly calmer life in New Zealand. Alan’s time in New Zealand has been spread between corporates  and start-ups with experience in sales, engineering, new product development and service design. He was worked a lot with the export community both in New Zealand and oversees and is passionate about market validation and really understanding your customer. As the only non motorcyclist on the team he is allowed to ask the slightly awkward questions.

At one point Alan was going to be wine maker which didn’t quite work out but on the plus side it did allow him to take a Wine Diploma which mostly involved tasting lots of nice wine, a tough gig especially for a boy from Glasgow!

 

 


 

Regards

Kal Gwalani, CEO

mango teQ Limited

CEO & Founder