Buisness Plan v3
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A community for sharing and socializing action sports videos.
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Next version of the business plan
Transcript of Buisness Plan v3
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Section Title
Pg. 1A community for sharing and socializing action sports videos.
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TABLE OF CONTENTSOur VisionOur NameOur ProductOur TeamMarket SizeMarket TrendsOpportunity SizeCompetitorsOur StrategyOur RevenueOur FutureExecutive SummaryIndex
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1.(831)[email protected]
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OUR STORYOver a year ago, Zack Parker (CEO and Co-Founder of ishBowl) noticed that he was having problems finding quality action sports videos on the web. The problem wasn’t that the videos weren’t out there, but it was a matter of not knowing all of the different sites to go to if you wanted to watch a bunch of different videos. Zack asked his brother (ex-professional surfer) and his best friend (Editor-in-Chief of Surfing Magazine) if they saw this as an issue that was plaguing online action sports videos. They agreed so Zack recruited Shane Heath and spent the next few months researching their market. The two sat at surf contests, skate parks, and surveyed filmmakers within the industry. All of these surveys validated their initial thoughts. With a little bit of seed capital from one of the early Facebook engineers, a team was formed and ishBowl was created.
LET’S SEE IT.
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people watch action sports videos online182,000,000
hours of action sports videos are watched per year4,7000,000,000
is spent online each year in the action sports market per year$56,000,000,000
OVERVIEWMORE CONTENT,MORE MONEY,& A GROWING AUDIENCE
There are 182 million people that watch over 4.7 billion hours of action sports videos each year online through thousands of different fragmented websites.
*maybe bring up market trends like:personal cameras made for action sports marketincrease in uploading, through blogs, personal websites ect. All of these numbers are increasing. Sharing content to the web is easier = more fragmentation
* Travel and tourism is up - I think we have growth numbers.$56B is spent online each year in the action sports market on travel, products, and advertisements.
ishBowl looks to capture a portion of that market through an affiliate and advertising model.
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Our Mission
hours of action sports videos are watched per year
is spent online each year in the action sports market per year
OUR MISSION
OUR VISION
ishBowl aims to consolidate all of the action sports content from the web and create one community for sharing and socializing action sports videos.
ishBowl aims to drive the progression of action sports by building a platform to watch, share, and discover the highest quality action sports videos from the web.
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OUR NAMEWhere did the name ishBowl come from? - Shane and Zack always kept a whiteboard full of their favorite words while they were playing the name game. Shane Heath (Creative Director) loved the word “ish” because he thought that it was a versatile word and that it was easily brandable. Coincidently, the first guy to apply for a job was named “Ish”. The word “ish” ended up making it up on our list of favorite words and was serendipitously placed next to the word “bowl”. Within a matter of seconds Shane screamed out “ishBowl!”. We went through our name checklist and it passed all of the tests. It was short. It was spelled how it sounded. It was available on Facebook and Twitter. The domain name was available. The domain name was cheap. The rest of this ish is history.
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OUR PRODUCT
ishBowl already has over 8,000 quliaty action sports videos!
Consumer BenefitsThe ishBowl video platform aims to put an end to users needing to search through various websites to find action sports videos. ishBowl is like Twitter, but for action sports videos. ishBowl’s “following” technology allows us to deliver videos directly to users without them needing to search for video content. ishBowl’s users simply need to “follow” their favorite athletes, brands, and filmers and we deliver all of those relevant videos directly to the user’s video feed.
Brands, Athletes, Agents and FilmersAfter meeting with brands, agents, athletes, and filmers we have discovered a major pain point; video content is floating around the internet about their athletes or their brand and they have no way of knowing that it is out there, unless they manually search for the content. This is a big problem and ishBowl has developed our “Scout”, which is our premium (paid) strategy to allow brands, athletes, agents and filmers manage all of their video content in one location. We have built a technology that alerts each specific user when their athlete, brand, or name is mentioned in a video on YouTube, Vimeo, and other major action sports websites. This allows these users to come to one location to receive notifications within their ishBowl account about videos that have been posted around the web. Then, these users can send these videos out to their social networks directly from ishBowl.
Brands, athletes, agents, and filmers content will be automatical-ly pulled into ishBowl from their own YouTube or Vimeo accounts without any action required from these users. However, if they want notifications about videos not associated with their account they must pay for
Intellectual PropertyishBowl’s product was built and designed from scratch by our team. All of the intellectual property that has been contributed to ishbowl.com is owned by ishBowl LLC. ishBowl has used YouTube’s API and Vimeo’s API to be able to pull videos into ishBowl without needing to pay for the storage and bandwidth costs to serve the videos.
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FOLLOW PEOPLE.Follow athletes, brands, filmers, and interests.
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WATCH VIDEOS.The newest videos of relevant
content are delivered to the feed.
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UNFAIR ADVANTAGEThe ishBowl team grew up in the industry and have all been involved in action sports since a young age with over 55 years of combined action sports experience.
The ishBowl team’s inner circle of friends are highly influential people within the action sports industry (professional athletes, sports agents, magazine editors, and web/social media influencers.)
ishBowl has relationships with some of the biggest companies in the industry (Nike, Oakley, Rip Curl, Red Bull, and more).
Bottom line:The ishBowl team understands the action sports market because they eat, sleep, and breathe action sports.
OUR TEAM
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Previous Experience // CEO and Founder of a 25-person team at Walu International. He’s the ish because he has deep ties in action sports and the tech industry.
Specialties // Networking, Business Strategy, and Brand Development.
Previous Experience // Co-Founder of a social networking site for the airline indus-
try. He’s the ish because he has 15 years development experience and he has built a
social media platform from scratch.
Specialties // Back-End Engineering and Database Technology
Previous Experience // Creative Director for Walu International. He’s the ish because he developed a top 25 awareness campaign by a charity in the USA called “Give A Crap.”
Specialties // Branding, User Interface, User Experience, and Front-End Design
ZACK PARKER, CEO
CTO
CREATIVE DIRECTOR
ASA DENTON,
SHANE HEATH,
Capitalize ishBowlestablish LLCHire Shane Hire AsaVersion 1Blah blah
date 1date 2date 3
afdsdf
asdf
We have a team of advisors with vaying experience and expertice incuding an ex-face-book engineer, co-founder of Volcom Stone, and president of a user experience agency.
See all on page 50
Mile Stones
Advisors
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THE MARKET
52%??Said that they spend too much time searching....??
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“I hate going to 14 different blogs to see if anything new
has been posted.
It’s annoying and I don’t have time.”Matt Wilkinson
ASP Top 15 Surfer
THE MARKET
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MARKET SIZEThere are 175 million people that participate in or follow action sports in the USA each year . ishBowl’s worldwide action sports market is 350 million people with the assumption that the total number of participants and followers worldwide is at least the same size as the US market. According to Internet World Stats, 65% of the people in the countries with the highest level of action sports participants have access to the Internet . ishBowl sees this trend only moving upwards with the advancements being made with smart phone technology. According to Reel SEO, 80% of those with access to the Internet are watching online video .
ishBowl’s total market is 182 million people that participate or follow action sports, have access to the Internet, and watch videos online.
ishBowl conducted a survey with 53 action sports participants and on average each user said they watched 30 minutes of action sports content online each week. Therefore, the total number hours of action sports content consumed online by our 182 million users each year is over 4.7 billion.
WHO IS THE 90%?
WHAT’S THEIR PROBLEM?
Our audience is 90% male and in the 12-35 year-old demographic.
It turns out that the original problem that co-founder, Zack Parker, was having was happening in this market. The ishBowl team contin-ued to get outside the office and talk to their market and when they started hearing the same thing from the different parties involved they knew they had to take action.
During this time we spoke with:• Top sports agents in the action sports industry (Approx 9)• Professional athletes (Approx 12)• Brands (Such as GoPro, Oakley, Nike, Sanuk, Rip Curl, Osiris, NHS, and more)• Filmmakers (Approx 15)• Action sports enthusiasts (Approximately 100)
Athletes, brands, filmers, and enthusiasts are all having the same problem of not being able to easily find quality and relevant action sports content. The content is out there, but there isn’t any type of structure for how to discover or showcase video content.
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graphic here
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VIEWING GROWTH
CONTENT GROWTH
The days of buying action sports DVD’s are over. There is so much content that is readily available online that the issue is about how to consolidate the content in a useful way that makes it easier to discover. Over 2010 and 2011 the amount of video content being viewed online has increased by 45% and 38% , respectively. ishBowl is seeking to be the dominant player in the action sports online video market.
The invention of personalized video cameras (GoPro, Contour, Sony Action Cam, and Jakks Action Shot) has increased the number of action sports video content creators. Last year, GoPro sold over 800,000 cameras and now have plans to take the company public next year raising between $300-$500M.
Content creators no longer need a high-end video camera to capture action sports content. More and more people are relying on their smartphones to capture content from the device that comes with them everywhere. Smartphone usage is now above 50% in the USA and is showing no signs of slowing up
MARKET TRENDS
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The amount of video content viewed has wwwincreased by 45% over the last year.
The amount of GoPro cameras sold in the last year.
45%
1,000,000+gopro logo
eye icon
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CURRENT COMPETITORS
ACTION SPORTS CONTENT CHANNELS
The ishBowl team grew up in the action sports industry and watching action sports videos, so the team was already aware of the major competition. However, with a bit more research we realized that there were some social video companies that we needed to both emulate and be on the look out for.
Currently, these are the key players in the action sports video industry. Each of these channels is a traditional media channel that pushes content at a user without giving them an option to customize the media based on their interests. These are the “core” action sports locations that ishBowl’s target demographic go to in order to find the most relevant and quality action sports videos. Based on surveys and feedback from ishBowl’s users, people eventually find all of the content they need, but it is after visiting multiple sites. This fragmentation creates a ton of friction each time a user goes to a new site to seek out more videos (they could end up on Facebook, Gmail, Twitter, etc.), which leads to less overall views of action sports videos.
Disclaimer: ishBowl currently views these as our immediate competition for our audience, but ishBowl also feels that we can work directly with these different distribution channels. Currently, ishBowl has most of these channels on our site. Once ishBowl establishes our position within the industry we see these different media channels “managing a page” on ishBowl (similar to Facebook, Twitter, or Instagram).
ishBowl is in partnership talks with the world’s largest action sports content distributor, Grind Media.
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ishBowl is in talks with the head of content partnerships and channel strategies at YouTube.
FUTURE COMPETITORS
YOUTUBE AND VIMEO
ishBowl views these companies as our future competitors. These companies allow you to follow different people, topics, or animals. They are trying to launch as the “Twitter for video”, but we feel their needs to be focus. When Twitter started it was only used by the tech community (it was used by mainly computer engineers and “untrendy” people). ishBowl feels that the problem with these social video sites is that they launched being an “everything” video site. With ishBowl’s specific focus on action sports we feel that we can increase engagement that these social video companies are struggling with.
YouTube and Vimeo are substitutes to using ishBowl, but we do not consider them direct compet-itors. Most core enthusiasts go to more fragmented action sports focused sites to consume their content. These enthusiasts like to feel like they are in a community that is for them. They don’t shop at Walmart, but they go to their core skate, surf and snow shops. When the ishBowl team was at surf contests and skate parks interviewing their core demographic the team found that these enthusiasts were having trouble finding enough relevant and quality videos on the “core” sites, but on YouTube and Vimeo the relevant and quality action sports content was too difficult to find.
Disclaimer: The ishBowl team loves YouTube and Vimeo. Without their platforms, then the ishBowl platform would be much more difficult to create. ishBowl knows that YouTube and Vimeo do online video better than everybody else, but we want to add an extra filter to their current services and utilize their technologies to serve a targeted demographic.
ishBowl has used YouTube’s and Vimeo’s APIs to build a social video site based around action sports. ishBowl is at the vortex of our 3 different competitors and substitutes.
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ishBowl has used YouTube’s and Vimeo’s APIs to build a social video site based around action sports. ishBowl is at the vortex of our 3 different competitors and substitutes.
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“I see this as one of those things that we couldn’t afford not to be a part of.” TAYLOR PAUL
Editor-in-Chief at Surfing OPPORTUNITY
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52%Said that they would use it ????
Pick a stat here
TAYLOR PAUL Editor-in-Chief at Surfing OPPORTUNITY
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Is spent each year in the surf, skate, and snow industry.$17,500,000,000
is spent each year on adventure tourism travel.$245,000,000,000
OPPORTUNITY SIZEThe sales in the action sports industry has also been on the rise.
Target rings-
Endemic ad size- premium
Adventure sports and adventure ad market
Global ad market- sub premium through ad sense
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is spent each year on adventure tourism travel.
Charts and graphics
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““Would I get our company to use this? Yes.
Would I get our athletes to use this? Yes.
Would I get our company to help promote this? Yes.”
Dylan Slater Director of Marketing at Rip Curl
MARKETING&
SALES
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MARKETING&
SALES
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MARKETING ishBowl’s marketing strategy can be broken down into three distinct categories: online marketing, offline to online marketing, and offline marketing. The reason ishBowl is placing any emphasis on anything offline is because in action sports, branding is everything. As the old saying goes, “It’s not about WHAT you know, it’s about WHO you know.” This is especially true in action sports. If you aren’t “in”, then you won’t get into the market... period. Luckily for ishBowl, they already know the WHO. Now it’s time to blow this ish up.
ishBowl plans on using social integration with Facebook and Twitter as the primary means of online marketing. ishBowl feels that through this social integration they will be able to attract users through the following techniques:
ishBowl’s relationships within the action sports industry have enabled them to have connections with the key influencers.ishBowl’s marketing strategy to reach millions of users without needing to pay for advertising is to utilize real life partnerships in the action sports industry with key players that have existing distribution channels (social media, industry connections, and media connec-tions). ishBowl has been working with brands, athletes, and media channels to build a product that each of these potential users can benefit from. From there, these users can promote ishBowl out to their followers via social media, websites, and personal connections.
• Posting to people’s Facebook timelines (if given consent) when they make comments, like a video, or post a video.
• Allowing users to share a video to Facebook or Twitter directly from ishBowl. This will mention that a video was shared from ishBowl with a link back to our site.
• Providing multiple access points for users to be able to invite friends: an invite option right after registration, an “invite friends” tab on the right side of the page, and an invite friends option right when the “getting started” section
SOCIAL INTEGRATION
OFFLINE TO ONLINE MARKETING
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GRAPHIC SHOWING HOW SOCIAL MEDIA TRANSLATES TO GROWTH
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Ricky CarmichaelBubba StewartMatt WilkinsonNat YoungPaul RodriguezMikey Taylor
IN DISCUSSION WITH
ATHLETESishBowl has a unique opportunity to be connected to very influential athletes in action sports. Through part-nerships with these athletes ishBowl will obtain credibility within the action sports industry, connections with key brands, relationships with other distribution partners (magazines, blogs, and websites), and other influential athletes.
ishBowl is a platform for brands and sports agents to manage, organize, and share their content from one location. ishBowl’s “Scout” service enables brands and agents to receive notifications on ishBowl when their athletes or their brand is mentioned on YouTube, Vimeo, or other mainstream action sports websites. Then, these brands and agents are able to share directly out to their Facebook and Twitter from ishBowl. This will in turn drive traffic from the posts back to ishBowl. Currently, these brands and agents are spending 10+ hours each month manually seeking out videos of their athletes.
ishBowl is working closely with these partners to build a platform for the brands, agents, and athletes to use.
ishBowl plans to work closely with these partners to build a platform for the brands, agents, and athletes to use.
Combined social media reach
BRANDS
Current Partners
In The Works
Osiris’ brand and 40 athletes have a combined social media reach of 850,000 people.
Rip Curl’s brand and 40+ athletes have a com-bined social media reach of 2.2 million people.
850,000
4,000,000+
2.2M
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Ricky CarmichaelBubba StewartMatt WilkinsonNat YoungPaul RodriguezMikey Taylor
IN DISCUSSION WITH
DISTRIBUTION CHANNELS
GRASSROOTS
OFFLINE MARKETING
ishBowl is working with key distribution partners in order to ensure we are building a product that they need in order for us to reach millions of potential users.
ishBowl will utilize key relationships with bloggers to help recruit and engage enthusiasts that are not getting their news from mainstream action sports media. ishBowl will systematically use our connections with athletes that can open up doors to different bloggers to write stories on us and feature our website.
ishBowl will engage in partnerships with surf, skate, wake, snow, moto and MTB clubs at universities and high schools. Giving product demonstrations at club meetings is a great networking opportunity with our target market. Regional contest series’ in action sports. ishBowl’s key demographic attends these events every weekend. There is a huge opportunity to be the online sponsor of these events hosting product demonstrations at the events.
The partnership will also provide a ton of great press and public relations for ishBowl within the action sports and tech industries. Also, partnering with YouTube provides leverage going into any future relationships with any other partners or buyers. Lastly, it will put us on Google’s radar for an acquisition.
This partnership will allow ishBowl to gain access to the distribu-tion channels of 7 major action sports magazines and 20 action sports related websites. Grind Media also owns GrindTV which is in association with Yahoo and receives over 7M unique viewers ev-ery month.
Social media and web reach- Over 8M monthly
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MONITIZATION DESIGNADVERTISINGWith the industry having our back we will be build-ing the biggest thing action sports insustry has seen.• FULL SITE TAKEOVERS
• PRE-ROLL
• PROMOTED USERS AND VIDEOS
• BLAH
SERVICESWith the industry having our back we will be build-ing the biggest thing action sports insustry has seen.• SCOUT
• VIDEO ANALYTICS
PREMIUM USERSWith the industry having our back we will be build-ing the biggest thing action sports insustry has seen.• INTEGRATED WEBSITE BUILDER
AFFILIATE SALESWith the industry having our back we will be build-ing the biggest thing action sports insustry has seen.• PRODUCT TAGGING TECHNOLOGY
• LOCATION BASED TRAVEL SALES
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PREMIUM ADVERTISING.• FULL SITE TAKEOVERS
• PRE-ROLL
• PROMOTED USERS AND VIDEOS
• BLAH
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PREMIUM MEMBERSHIPS.• SCOUT
• VIDEO ANALYTICS
• INTEGRATED WEBSITE BUILDER
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INNOVATIVE SALES.• FULL SITE TAKEOVERS
• PRE-ROLL
• PROMOTED USERS AND VIDEOS
• BLAH
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MOBILE.• SCOUT
• VIDEO ANALYTICS
• INTEGRATED WEBSITE BUILDER
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SALESGrind Media- ishBowl is working on a revenue share partnership with Grind Media for the advertising sales for our site. Grind Media already has the existing advertising sales network in the action sports industry for ishBowl to tap into. “Scout” Sales- ishBowl will sell their premium service, “Scout”, directly to their existing contacts first. From there, ishBowl will begin
SHOW HOW SCOUT WORKS?
GRAPHICS HERE
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STRATEGYGrind Media- ishBowl is working on a revenue share partnership with Grind Media for the advertising sales for our site. Grind Media already has the existing advertising sales network in the action sports industry for ishBowl to tap into. “Scout” Sales- ishBowl will sell their premium service, “Scout”, directly to their existing contacts first. From there, ishBowl will begin
Sales projections
Maybe we show why scout is valuable
Show why grind is valuable
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We are here.At the “tip of the iceberg”
FUTURE
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Soon to be here.Action sports on all devices
In the future.All sports. All devices.
FUTURE
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EXECUTIVE SUMMARYVISION
TEAM
ADVISORS
MILESTONES
PRODUCT
MARKET
STRATEGY
GROWTH PROJECTIONS
REVENUE
WHATS NEXT/MAYBE THE ‘ASK’
