Question

Topic: Strategy

Golf Training Aid With Over 200 Tour Players Using

Posted by Anonymous on 11/6/2010 at 11:45 PM ET 250 Points
Hello Friends,

I've invented a golf training aid that I have had some good success with. We are a small company and have built everything from the ground up by ourselves. Lots of work, learned a lot and are starting to get some traction in the market. We have had excellent saturation of the tour pro market. 93 guys on the PGA put the tool in their bag this year. Won't mention their names but 2 of the top 5 instructors in the world said it is the best aid they have seen.

With the product being as good as it is the sales have been tough. It is the kind of product that makes sense and doesn't promise miracles with a hype marketing approach. What I think we need is to raise 200K-mass marketing- maybe an infomercial-overseas manufacturing-solidify relationships with retail stores-and continue to saturate the tour and teaching pro market.

At this time we are small and building from the ground with a small team. Just need the resources-aka funding-marketing.

Are there companies that invest and help smaller ventures and products grow and reach the masses. We have a few feelers out, but could always use a couple tips from folks that have been around. I can see one of the bigger companies like Taylormade, Titleist, Momentus, Eyeline, etc be a strong partner. On one hand I would like to partner up, but on the other I want to keep things going. I still play the tour and have aspirations of continuing my play, but running a small business takes ALL of my time. I will keep working it until we make it. Starting to get a little tired and looking for a possible partner.

Cheers and thanks for the feedback

Brian
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RESPONSES

  • Posted on 11/7/2010 at 5:13 PM Accepted
    I've been involved in a few projects like this ... preparing business plans and related documents to generate investor interest. The thing that usually sours the deal is that the entrepreneur values the opportunity more than the dispassionate, objective investor.

    For example, you might think that an investment of $200,000 is worth 20% of the company, while an investor would think it's worth 60%.

    People with money to invest recognize that without their contribution, you'll go nowhere. They also know there are a lot of great ideas out there that would benefit from an infusion of cash to really succeed.

    Entrepreneurs, on the other hand, are focused entirely on their product and their market. They only see the need (for cash) and tend to discount the risk. They're convinced that their idea is a "sure thing" lacking only the investment capital.

    Getting the entrepreneur and the investor together is not easy. (I've even tried it with a couple of golf-related products, and the investors' passion for golf wasn't enough to offset their pragmatic assessment of the risk or the perceived value of their [financial] contribution.)

  • Posted by Jay Hamilton-Roth on 11/7/2010 at 6:53 PM Accepted
    If you can get some pro testimonials, consider a YouTube video. It won't cost much, but once you have it, then you can point people to it (which will drive them to your website). That'll help people who are looking for the "next thing" to find you. If your aid become successful, expect to see it copied by competitors (and you'll receive nothing for it) - even if you have a patent (defending a patent takes $$).

    An acquaintance of mine works with people like yourself to handle manufacturing & distribution. Contact me off-forum for their contact info.
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