Innovation never ends

I happened upon this video (being a surfer and all) and was totally inspired by the product innovation. In real terms it is innovation at its core:

Problem – Solution.

They had to find and invent the technology to solve the problem. Rather than having some technology they were trying to find a use for. The video is worth watching, as the lesson is one any and everyone can take heed from.

It also reminds me that innovation will never end. Just when we thought the wetsuit solved all the problems it could (cold water / sunburn, wax rash) a human need takes it to the next level. Just like Bucky said: eventually we’ll be able to create everything from nothing.

[youtube=http://www.youtube.com/watch?v=Gqs_kLW7bSE]

Big props goes out to Billabong. If I was running Ripcurl, or a surfing startup, I’d be working on a wetsuit with an oxygen pouch!

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Arrogance = your opportunity

I bought this reasonably cool pair of board shorts for surfing this summer.

boardshorts

They cost me a whopping $80. Which is what I call ‘insult pricing’. It’s a pretty simple equation actually. The key players in the surfwear industry (Billabong, Quiksilver and Ripcurl) charge these prices because they can. They don’t have any ‘credible competitors’ in this board short subsegment of clothing.

In recent years surf brands have been hit by many competitors in other areas of the market which they used to ‘own’. Especially in t-shirts, from the myriad of streetwear companies, to the uber cool on-line players like Neighborhoodies and Threadless. Interestingly the shorts in this photo would cost >$5 to make. There is significant margin in the product. Such high margins often begets competitive entry into the market place.

The arrogance of said surf brands has invented an opportunity for a nimble entrepreneur to steal part of this market. And the way to do it is exactly the way Threadless have. Go online and build a community to design the uber cool boardshorts / shorts and sell them globally at a fair price. In fact, surf wear is so clichéd and over branded these days that I avoid wearing it. Most of the designs are very rank and have really lost their edge. I only use surf brands for surf equipment. The only reason I bought the pair in the photo is ‘lack of options’.

If anyone knows some one already doing it – let me know
If anyone wants to do it – let me know as well. I think it’s worth ‘investing in’.

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