After three months of an intense but pleasant experience, we can say we have our product “Runeys”. Runeys helps runner and walkers who want a safe place to put their keys and valuables while running or walking by providing a product which allows the keys to be attached to the individuals shoe, keeping the keys safe, providing comfort and securely unlike the Nike Running Shoe Wallet the aesthetic and material properties make our product more desirable and secure.
In this case, I want to tell you more about the process itself than the idea, which I will talk more in detail in my future posts. Someone said “is not about the idea is about the execution” and I think this really apply to our company. The first big problem you face like a team is finding the “million dollar idea” and after one week trying to figure it out, you realize that for the purpose of this project we need something simple. Something we can produce and sell in 3 months and with a 1.000 pounds investment. These constraints force us to eliminate a big amount of our ideas and the next issue was “we don’t want to create something that simple neither”. So we decide like a team look for more ideas but this time they must be related to something we all like and that was traveling and sports.
It was brainstorming time and we started pitching our ideas to the rest of the team. During this meeting, you can see all of us more enthusiastic about the ideas because it was related to things we know and like to do. This is how we came with our first idea “YourTravel”, that was a series of light, compact, connectable containers they can put their cosmetics in while Travelling. It looks like a pretty simple product to make, not much technology involve on it. So we start to talk with people, we did some great 3D prototypes and we were very happy like a team. So we keep going forward with the process talk with more people see what they think about it, did all types of canvas and everything was in place. The next step was start looking for companies that can manufacture our product and define our production cost and selling price, yet here is where the problem appear. We call some manufacturers and they were asking around 5.000 to 10,000 for the mold and at leats 100.000 units, so it was time to let our great idea go.
Based on the last events an emergency meeting was call and we have to define our new idea. We came with more ideas but the one we like the most was our second option from previous discussions. We start to talk in more detail about it and it took as few minutes to realize that we will have the same production problem with it. This previous problem helps us to look for different options to solve the problem and that is how we came with the pocket shoe. To be honest, my first impression was, I like the problem we are solving but I am not sure if our product is the solution. So what better way to clear that doubt than going and talk with people.
We went to talk with people, and most of then have the same problem what gives us a strong evidence that there was room for a solution. Additionally, a lot of them also find our solution really practical and convenient, so this information gave us the necessary input to proceed with our prototype phase and gave me the confident to trust the idea that now I believe is a great product. So for the prototype, we start doing some drawings and play with some materials to get a prototype we can show people and have feedback. After the feedback, we knew what people are looking but not the way to achieve that. We were discussing how can we do it and the process we need for it. However, it was not until we decide to go to the lab and start playing around that we came with our silicon prototype.
Like I mention before is not only about the idea is the process that gives value to your product and the way we do it will determinate the success of it. The entire process from discussing ideas like a group, to talking with people and prototyping gave us a clear idea of what are our value proposition and how can we reach our market. During our pitching in Dragons Den beside our idea, it was our entire process that makes the judges confident about our idea. It was a great experience pitched for the first time, it gave us energy and confidence to move forward and make Runeys the best product. Now that we have our idea is time to produce it and sell it. Hope you will be one of our first customers and run free with no worries with our Runyes.
Create to innovate 