When setting up my sailboat for a day on the water, I
encounter 12 or more fasteners that involve a cotter pin and a retaining ring
to hold the cotter pin in place. These retaining rings are the exact design of
a key ring with wound metal that needs to pried apart and fed through a hole in
the cotter pin. The rings for the sailboat however are only about ½ to ¾ inches
and are extremely difficult to pry open, especially when trying to do it
quickly because someone is holding steady a 25 foot mast. I believe I could
design something that can be worn on the finger like a ring that would aid in
prying these rings apart and make setting up the sailboat faster and less
painful.
I believe anyone who encounters these types of fasteners
could benefit from my device. I know they are prevalent on sailboat hardware,
but am sure they are used in other applications as well. Even someone who has
difficulty with their own key ring could benefit.
The need for a device like this is not new, but the product
I have in mind is a new concept.
I imagine people, myself included, have tried different
techniques in prying the metal rings apart with screw drivers, knives, and
fingernails. All could lead to injury and discomfort, as well as slowing down
the process. I am 100% sure that this opportunity exists for myself, and will
be fabricating something for personal use regardless of the outcome of this
assignment, but realistically I am only 50% sure others would see the benefit
or like the design of my creation.
Customer #1 was extremely open to the idea of my concept and was willing to offer advise on how it would better serve her. She definitely has the need I believe exists and is eager to try out the product. Her need developed when she started to encounter these fasteners on a sailboat, but prior to that, she did not have the need.
Customer #2 does not share the need, but after explaining the product to him, has an interest in it because he has an interest in sailing in the future. In my opinion however, he would not have thought of the need until he experienced for himself the handling of these fasteners, which may or may not ever take place.
Customer #3 has limited experience with the fasteners, but seems open to the concept of a device that would make things easier. He also believes anyone with a key chain could also benefit.
I still believe strongly in my original opportunity. I received favorable feedback from customers who had direct knowledge of why I was creating the product, but also from a customer who didn't yet know he had a need. I learned that my target market could be greatly expanded by researching where else these fasteners are used, and simply bring attention to my idea. I definitely have a more defined sense of direction for my product. I absolutely believe entrepreneurs should adapt their opportunities based on customer feedback. Without a willing customer, the opportunity doesn't exist.
Great job with the interviews. I loved how you presented the pin during the interview. That made it a lot easier to understand the need for the product. Personally, I think it is a brilliant idea, and I would definitely be interested in getting one.
ReplyDelete- Ryan
I love that you found a unique opportunity like this. It sounded like an idea that was specialized only to those who sail but if you can find a way to determine other activities that use these same fasteners it would be very advantageous. I think one of the most challenging things after determining what the opportunity is, is to figure out how to spread the word of the problem. It sounds like something that many people already have makeshift ways around. However, if you can convince them of this need you could change the industry with a simple product.
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Hello Jeff, I am not a sailor myself but I feel as though you explained your concept pretty well. I like that you presented your opportunity in your interview and made sure that the customer was able to comprehend it. It's important to get feedback prior to fully publishing your idea so that you know if it's a very big need within the market and if people will understand the need to buy it. Once you obtain both you have the ability to make a successful product.
ReplyDeleteHi Jeff,
ReplyDeleteI think that you did an excellent job explaining the existing issue and your potential solution. It poses an additional challenge to present an idea that some people may not be familiar with. Great idea to present the cotter pin in your interviews as it clarifies both the existing problem and allows for a greater understanding of your potential solution. On a side note, I loved how you suggested that Customer #2 learn sailing as he already has a parrot on his shoulder. I very literally laughed out loud!! Thanks for sharing your post!
Hi Jeff! I think you did a great job on this assignment. You are clearly very knowledgeable when it comes to this opportunity and the fact that you already have a solution in mind is awesome. Your interviews were done well and you were able to gather through information. Even though I do not share this need, I can’t wait to see what you come up with to solve this problem.
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