Case Summary: The Umoro One Bottle

Executive Summary: The Umoro One Bottle
In recent years an increasing number of people have become more concerned and self-conscious with their health and nutritional lifestyle because they see everyone else posting pictures of their new diet and results over social media platforms. They want to make a change so they start by making new year’s resolutions at the start of the year and become over ambitious and make big promises to themselves that they will join a gym to slim down by a certain time, but by the third week or so of the new year they make excuses for themselves or start becoming unmotivated to exercise because they are not seeing immediate results due to the fact that they do not have the proper training or knowledge in physical education. In the process of making these healthy changes people do research to equip themselves with all sorts of gym accessories, thinking that it will aid them, such as water bottles, shaker bottles, gloves, workout clothing and new shoes but in reality those things are unimportant. Those that do have the strong will and are continuously motivated to make that change in their lives often bring two bottles to the gym. One for just water and another shaker bottle to mix their protein powder with water for post
workout supplementation. The Umoro one is attempting to change the status quo in this health movement by making a two in one shaker/water bottle. It stores supplements within the lid and it is able to keep it dry till whenever you are in need of it. “When needed the user can push the launch button and the powder drops into the bottle along with the agitator which acts as a mixer preventing clumps in the drink and provides a water-tight seal between the supplements and water. In order to achieve that desired body, proper supplementing and timing is important” (J. Rosete, personal communication, March 6, 2013). The Umoro one bottle allows customers to do that in a hassle free manner by being able to use it at the gym, office or where ever you are in life.
This product, The Umoro One, is the creation of two fitness enthusiasts Joseph Ng and Justin Rosete. The two social entrepreneurs met through a mutual friend and saw an inefficient problem that needed to be solved in the health and fitness world and wanted to make a difference. “The company began a little more than 10 months ago. Joseph is our director of operations and I am the designer” (J. Rosete, personal communication, March 6, 2013). The idea was first drawn up by Joseph Ng, who is a competitive fitness model and saw an opportunity to create this product but needed someone to help him design the physical product. They both dawned on the trouble they faced with existing bottles and wanted to make a change for the better. Both of them “wanted to create a revolutionary change where the bottles can squeeze out of its niche market” (J. Rosete, personal communication, March 6, 2013). Building on top of being social entrepreneurs, regular bottles are made up of cheap plastic that could be harmful to the body and environment that may release chemical compounds over time and can cause ill health. The Umoro one is made of a couple of materials, “the two most important ones being used are the body which is made of Eastman Tritan Copolyester while the top is made of Polypropylene and High-density Polyethylene. All of which are BPA free and make consumption safe for customers” (J. Rosete, personal communication, March 6, 2013). As with all things considered, plastics are not sustainable but if used considerably and not short term. The Umoro one bottle is designed to be a one-time purchase, don’t need to purchase again type of bottle. This results in saved disposable bottles which are made in mass and are made of Polyethylene terephthalate which is not reusable.
This product is shifting the equilibrium to a higher stage bringing a suboptimal solution which is defined as a need that is not being met and with the introduction of a new product or service; more of the need is being met causing an outward shift in the suboptimal equilibrium (Wise, 2013).
Before the introduction of The Umoro one bottle, people would bring at least two bottles to the gym, office or where ever they are scheduled to be which was not efficient and a waste of space. After the creation of the initial prototype for testing with customers, it received many positive feedbacks but also negative. The team took in those negative feedbacks and changes were made to make a more positive
experience.
Currently, the product is not being sold in mass yet as it is still looking for investors in order to proceed to the manufacturing phase. The project is actually starting to get notice as they recently posted up a 3 minute elevator pitch video on kickstarters.com. An elevator pitch is defined as the summary used to quickly and simply define a person’s product or service (Wikipedia, 2013) which is determined by succinct, easy to understand, greed inducing and irrefutable. The video shows how easy to understand the product is to use and incorporate into everyday life as it demonstrates people using it in the gym, office and other environments. The product is greed inducing because it offers people the convenience to carry less and properly supplement themselves anytime during the day. It also induces greed because they are offering a deal if you pledge more than $40 they will send you two bottles instead of one for $25. The video is succinct simply because it is short and gets to the point. This method of putting their idea out on kickstarter.com and asking for donation to start their product in production is known as crowd funding. Crowd funding described as the collective effort of individuals who network and pool their money, usually in means of the Internet, to support efforts initiated by other people or organizations (Wikipedia contributors, 2013).
In the industry of health and fitness there are many companies that branch off into anything and everything possible ranging from nutrition to clothing’s and accessories flooding the market with products in order for them to gain maximum revenue which overwhelms the user with choices and confused as to what to buy or which product suits him/her. “In the early stages or testing a few Umoro one bottle prototypes were made and handed out to various users of different age and genders” (J. Rosete, personal communication, March 6, 2013). The preliminary feedback was a mixed review but after absorbing those feedbacks and addressing the negative, Joseph and Justin were able to change those negative into positive feedbacks and received a better rating the second time around in their customer product testing. Positive feedback is defined as information from the consumers that positively influence the company (Wise, 2013). With the responses acquired from clients, they were able to finally zero down into their problems and create a final product in which they themselves and the customers were satisfied about.
As of now the company has been able to pledge $34,860 of their $50,000 goal in order to be funded by investors. Joseph Ng and Justin Rosete possess social entrepreneurial attribute as they want to help people to reach their personal goals of a healthier lifestyle by creating a more convenient and efficient way of supplementing their bodies in a timely matter. A social entrepreneurship is the start of a business that’s main concern is the impact that it has on its consumers and sees money as only an additional bonus on the side of helping others (Wise, 2013). Besides creating a product that helped customers, they agreed to use materials that were environmentally friendly which would not damage the atmosphere and contribute additional waste to the already polluted earth.
In order for an idea to be successful the pain aspect of a problem must be very high so the product or service will sell itself. Joseph and Justin saw a pain in the gym as they witnessed many of their friends bring extra bottles. “The problem that needed to be solved was an issue of waste and convenience as users are required to carry separate bottles and forced to think creatively on how to carry supplements. Often these methods are considered not office suitable and we wanted to solve the unnecessary need of all these troubles” (J. Rosete, personal communication, March 6, 2013). Pain is the inconvenience or inefficient process way of doing things and has the opportunity to be greatly improved. In that pain process they were able to identify an opportunity as they knew that the health trend would never die or slow down because who doesn’t want to feel great about themselves. For one to identify an opportunity they must observe trends, solve a problem and find a gap. Joseph identified the opportunity for Umoro one by observing trends in the gym, locker room and through competitive modeling competitions. He saw fellow gym enthusiasts carrying multiple bottles for multiple purposes and thought it was unnecessary. He solved the problem by brainstorming ideas and coming up with this 2 in 1 shaker bottle that allowed people to carry their supplements in a water-tight sealed compartment in the top of the bottle. Furthermore he had the perfect gap between his and other competitor products on the market. His product was at the ease of a button while other products still required users to unscrew compartments of the bottle and then pouring the supplement into the water which could cause a mess. An opportunity is measured by how attractive, durable, timely and if it creates or adds value for the end users (Wise, 2013). This product is attractive simply because Joseph and Justin understand the importance of staying healthy and can make that connection with others as it can be used for all purposes. For an idea to be durable the marketplace has to be long lasting and the demand for the product must be constant or growing. The opportunity for Umoro one is durable as society will never stop caring about their health because who doesn’t want to live long enough to see their grandchildren? On the other hand the introduction of this product is a timely matter because the health trend will always be on the rise so any time is good, but the real question is who will be the one to come up with it first and create the actual product for the mass people. Finally, the opportunity adds value to the customer by the ease of use and multi-purpose factor. If a product or service does not add or create value for the end user then no one would use or buy what you are offering. Joseph and Justin can be associated as an agent of change as they are exploiting an opportunity of the current status quo and attempting to make a better product for everyone to use. An agent of change is described as someone that sees an opportunity and builds up onto it (Wise, 2013).
The Umoro one bottle solves the agony of carrying multiple bottles around throughout the day for different purposes. It allows people to incorporate a healthy life style and enabling them to properly nourish the body in a timely fashion in which customers can get the results they desire. The 10x Rule refers to a creative destruction where the current product must be exponentially better than the previous (Wise, 2013) which is exactly what The Umoro one bottle will do. This product offers exponential amount of benefit to the customer as “we are keen on making a difference for anyone who struggles with proper supplementation. We also believe in the importance of staying healthy. Supplements are as they are named, made to supplement a diet. This can play a defiant role in how people manage their health” (J. Rosete, personal communication, March 6, 2013).
One problem that comes up in the dynamics in this team of two young inspired entrepreneurs that could possibly affect them in the future is that they do not have a complete talent triangle. The talent triangle comprised of three management styles which defines three necessary areas of expertise in a successful business. The first of the three is business acumen, most often the CEO, president or CFO because he or she has the skill, knowledge and experience to make key business decisions. This is what the team lacks because they do not have any previous experience of owning any other business, but “when necessary they seek consultation from knowledgeable friends” (J. Rosete, personal communication, March 6, 2013). The person with the business acumen is often responsible for ensuring that the venture focuses only on the core competencies that add direct value to their start up (Wise, 2006). Next is the operational experience which holds the titles of COO, CTO or VP of R&D. This person makes decisions that relate to the venture’s implementation and execution of its business plan. They not only build what the startup will sell, but they are also responsible for making sure it is shipped and supported (Wise, 2006). The team is also lacking in this aspect of the triangle as they may not have the connections for distribution and efficient coordinating of delivery methods. Lastly, domain knowledge is the understanding of the industry’s key value. This person ensures that the supply chain is not interrupted and possesses the necessary relationships in the market to make sales (Wise, 2006). Domain knowledge personnel often hold the title of VP Sales, VP Business Development of Director of Corporate Development. They are adequate in this corner of the triangle as Joseph is a competitive fitness model and holds a tight knit of relationship with people in the fitness industry. With this strong network of contacts it enables him to fulfill the most important part of a successful business which is to generate sales. If the triangle is unbalanced it is hard for a venture to be successful, but not impossible and The Umoro one will more than likely prevail as their product is able to sell itself.
In conclusion, the start-up has received a great amount of positive feedback, but in order to reach higher grounds of success they must carefully recruit someone with the proper expertise in business acumen and operational experience side of the business. This cannot be just anyone that is an expert in those aspects but someone that they trust along with the same beliefs, values and goals of the company as them. This person devotion of time and energy must benefit to the success of The Umoro one. Bibliography
Wikipedia. (2013, March 04). Elevator pitch. Retrieved from http://en.wikipedia.org/wiki/Elevator_pitch
Wikipedia contributors. (2013). Wikipedia, the free encyclopedia. In Wikipedia, The Free Encyclopedia. Retrieved from http://en.wikipedia.org/wiki/Crowd_funding
Wise, S. (Director) (2013, Jan-Apr). Entrepreneurship. Introduction of
Entrepreneurship. Lecture conducted from Ryerson University, Toronto.
Wise, S. (2006, May 17). The talent triangle. Globe and mail