Wild Racing 1 Page Business Plan
Overview
Wild Racing has a clear business objective to develop, produce, promote and distribute motocross gear and accessory products. These products have been developed over 2 years with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to launch a new product for the motocross community. Whilst our existing products have been useful for testing the customer problem, new products are required to fully capitalise on our business potential. Our growth path is clearly oriented around the addition of new products, the development of these new products and the subsequent marketing of these. It is understood that costs will be associated with product development and marketing and these have been allowed for in our desired budget.
The Customer
Wild Racing has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as producing quality, bright, flashy gear to help get riders noticed. This is a critical issue for our selected target market of motocross racers.
The Value Proposition
Wild Racing is uniquely positioned to deliver value to motocross racers. "Wild Racing will help racers obtain sponsors and finical help with racing, it's hard enough for racers to find sponsors but with our flashy design our product, motocross gear, it will help them stand out amongst the other racers." In order to be deliver on this value proposition, we figured out scouts for sponsors, such as what they look for and if you look like every other rider on the track you less likely to catch there eye, we can deliver you what you need to stand out. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the motocross gear and accessories market. We consider our key competitors to be: Fly Racing, Fox Racing, and Troy Lee Designs. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Fly Racing, Fox Racing, and Troy Lee Designs because I myself, the creator of Wild Racing, am a motocross racer, I know what they like, I know how to pitch it.
Key Strategies
Over the next 6 months our focus will be to get the new product out there and get into stores. This task will be undertaken in the context of our broader strategy to sponsor a motocross team and release more products. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Launch New Gear, Obtain 200 Customers, Sponsor a Pro Racer
About this document
motocross gear and accessories Business Plan
This document was created by Kody of Wild Racing using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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