Innovation and strategy, which led them back to the company’s mission of helping Thompson and his team honed a customer-oriented approach for Allen Thompson, Director of Product Development We were relentless and obsessive with our desire to understand the customer and serve her needs. The focus on the customer was the key to success. They turned to business accelerator StarterStudio, located in Downtown Orlando, and learned about BMC methodology. In the face of failure, company leaders decided to learn from their mistakes. Worse, the bat experienced frequent connectivity issues, and users were often distracted on their phones instead of keeping their heads in the game. After investing $250,000 to launch its smart bat technology, customers rejected the product in favor of current, cheaper and better alternatives for measuring speed and counting hits. The owners believed RIP-IT would knock it out of the park if the company created the world’s first smart baseball bat. But the company was facing challenges developing new product models. Unforced Errorīy 2014 the company had two products sold in stores around the U.S. But a home run is rarely hit without a few foul balls first. Today the company is one of the most trusted brands in women’s softball. When his daughter’s vision was impeded by a batter’s face guard designed for men, RIP-IT’s founder, Mike Polstein, did what any father with an engineering background would do-he designed and built one in his garage.
Historically, softball equipment for women was the same used by men, only smaller, and often fit poorly. RIP-IT started with a father’s concern for his daughter’s safety on the softball field. Invalidating assumptions about each of the segments of the models by conducting Models that clearly identify its stakeholders, segments, strengths, financialsĪnd value added to their market. The BMC is a framework to develop business Despite RIP-IT’s male-dominated leadership, the company was able to use BMC methodology to better understand its female customer and create a product used by three million softball players across the United States. But through the use of the Business Model Canvas (BMC) methodology, the company avoided a $250,000 mistake and grew its annual revenue by 60 percent in just four years. RIP-IT, a sports equipment manufacturing company based in Orlando, found itself losing money on a new product launch. RIP-IT Director of Product Development presenting on how the company uses the Business Model Canvas methodology When RIP-IT found itself losing money on a new product launch, the company turned to the Business Model Canvas methodology to better understand its customers, deliver valuable products and increase its bottom line.
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