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Ajit

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    Hi

    The answer to your question on exit strategy by outsider will depend on who is asking the question. If investors are asking then it is logical since they want to know their exist route.

    But other than investors the answer to this question will really evolve over the time in the life span of the product and strategy. Let me know if you feel you need more info.

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    Hi

    This is a very common situation. However you should try to answer few things

    where is this potential competitor based ? If in New Zealand then you will face stiff competition. But if he is outside then you still can have a look at it.

    What is the overall market size of the product or idea ? Bigger the market size , better for the situation since it can absorb the competition ?

    If the market size is not big then re look at the idea first think of the value proposition and see if there is a differentiation which can be created

    Investors will look at this as potential threat because already an existing player is available and this will make the funding difficult.

    If the idea is still in conceptual level then you can think of other opportunities as well.

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    Hi

    Its a very good concept. Instead of relying on any one, use social media extensively, all formats of social media including Linkedin. If you have the web site then start promoting the same. Create You tube videos on use and demonstration and circulate on social media. If you google it then you can get details of all retirement homes and hotels. It is a painful process but certainly effective with right marketing material.

    But more importantly dont restrict your self only to New Zealand. Currently this problem is for the whole world. The whole world can become your market and there is no ban on cargo movements. With digital marketing you can cover whole of world as market.

    And why only hotels and retirement homes but ordinary consumers will also use this.

    Third is think big always which will help you to expand the vision. Keep a thought at the back of your mind that when covid problem is over specially post vaccine then what happens to your business ? how will you maintain continuity ? ajit

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    Hello

    You mentioned that you are manufacturing , supplying the sensors but few lines below you mentioned that you are in R & D stage ??? This is confusing. If you have the commercial traction already then you can certainly start the fund raising process… The market for you is certainly big and not only in New Zealand but across the world. You need to get the business plan, model and pitch deck but you need to make a big picture. Also create a model which is realistic and not over optimistic because in you would get diluted way too fast if you can not create valuation as promised. If you have competitors and of they have raised money then then that would become a benchmark for you as well as investors.
    Raising money is all about building a real story, realistic execution-able assumptions , clear picture of valuation build and exist plan for investors.

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    Hi

    Apart from doing analysis of your web site, have you done the analysis of the traffic ? what is the bounce rate ? from which area they are visiting ? who are your competitors and what is happening on their web site… ? Conversion through web site is one thing but fundamentally is your product pitched correctly in terms of price, range, market etc… I dont know your product or web site but is it restricted to New Zealand or only certain part of country… The ratio of conversion of sales through web site is very small just in single digits… so How big is your market size…

    ajit

    Up
    1
    Down

    Hi

    Apart from doing analysis of your web site, have you done the analysis of the traffic ? what is the bounce rate ? from which area they are visiting ? who are your competitors and what is happening on their web site… ? Conversion through web site is one thing but fundamentally is your product pitched correctly in terms of price, range, market etc… I dont know your product or web site but is it restricted to New Zealand or only certain part of country… The ratio of conversion of sales through web site is very small just in single digits… so How big is your market size…

    ajit

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