NYX Resistance

Week two has been rather productive for NYX, we made great headway with our Value Proposition (VP) along with developing our first canvas. Our biggest struggle so far has been developing two variations on our current BMC.

What I've found rather interesting about this particular exercise is that unconsciously whether we recognize it or not, we tend to put ourselves in a box with respect to what we perceive our venture should look like. I came to this realization after attempting to make changes to our current model.

We talked about several ways we could alter the model, but to be honest, it almost becomes an exercise in frustration not to mention it is difficult to see beyond what we put down on our current canvas. I think this particular exercise really exemplified the importance of having an advisory board and simply going out and talking to people to gain an outsiders perspective.

I think it comes back to the whole issue of pivoting. Do we pivot? Do we not? I think in order to answer this question you need to be on a constant basis reevaluating your BMC. I really enjoy the layout of the BMC for this reason because it is essentially a living and changing business plan.

Lots of good food for thought. 

Although some of the issues I mention below are six months to a year in the future, I think it's important for us to think about the following three issues that pertain to our brand as a whole:

1) Product Line: Is their room for expansion?

Given the nature of our offering, the one issue I foresee in the future is product expansion. We've already talked about introducing a variety of different shirts with varying degrees of resistance; however, beyond that do how do we expand?

We discussed this a little bit during our team meeting today and came up with a number of interesting ideas. First of all, we thought about designing specific shirts for certain sports (football, hockey, swimming, etc). Each of these sports use specific muscles and for this reason introducing a line of shirts with varying resistance could be one way NYX could expand it's product line in the future.    

2) Brand Identity

After analyzing successful clothing companies like Lululemon and Under Armour, it is obvious that brand identity has played a large role in shaping and attracting a niche market. For NYX, I feel that we need to determine where our source of brand identity resides. I think one of our biggest challenges ahead is going to be discovering who we are and how we leverage our brand identity in a way that entices early adopters.  

3) Lifestyle Vs. Athletic/Performance - Perhaps Both? 

Another important decision that further builds on brand identity, is whether or not we decide to follow in the footstep of many successful apparel companies and focus on developing a lifestyle brand. Essentially lifestyle brands aim to sell their product by convincing potential customers that this identity (the brands identity) will be reinforced or supplemented if they publicly associate themselves with the brand. Companies like Louis Vuitton, Abercrombie & Fitch, and Lululemon have all taken this approach and have had great success. However, attempting to integrate a lifestyle into a shirt that is primarily designed for performance could be difficult. For this reason, I believe it may be in our best interest to somehow marry the two and see what it looks like.

As of September 21st 2011 researchers in the CERN laboratory near Geneva have discovered subatomic particles that actually travel faster than the speed of light. it was recorded these particle could hit speeds of 299,792 kilometers per second. This discovery would disprove Albert Einstein`s theory of relativity and there fore change all modern physics as we know it. This is a giant discovery as previously believed notions of impossibility are now entering back into the forefront as there is new evidence coming in. It makes Doc Brown and his Delorean seem a little more plausible. In terms of a business aspect that form, the possibilities to develop the next fastest way to travel, a new energy in a energy starved economy or even new ways to treat patients can all be funded and discovered. I dont have to explain why finding a new energy source would be a huge profit turner especially coming from Alberta where our primary resource for income in oil.

I recently came across an interesting new product that has hundreds of other uses other than the inventors intended for it. these uses present opportunities for companies to innovate and turn a profit. I present you Sphero, a remote controlled robot that is controlled via your I phone. As it sits the technology is only being used as a toy function when it can be infused with a camera and sold to the military as a piece of scouting equipment. Imagine if you could scope a room before stepping foot inside, or being able to gas out the enemies exactly where they are ensuring a direct hit. this technology can also be used in miniature form and used to diagnose problems where a human has great difficulty getting to. In short there are numerous uses this can be used for aside from the comical toy it is being used for at the moment.

I recently came across an interesting article written by Elaine Ilavsky in The Globe and Mail. She provides 5 interesting tips (that I've condensed) on how small businesses can grow and become "Blockbusters".


Tip 1: Own The Script - Learn to adapt and change your business plan as you go.

Tip 2: Create An Engaging Trailer - Be able to share your concept creatively with others in 20 seconds or less

Tip 3: Be The Indie Darling - Be diligent where you invest your capital. Keep your fixed monthly costs down (take your initial budget and take off a 0)

Tip 4: Hire A Team Of Experts - Recognize that at times you cannot do everything by yourself. Do what you do best and outsource other activities to experts.

Tip 5: Step Out Onto The Red Carpet - Get out and network with suppliers, consumers, and other industry professionals - Be passionate about your business and share your passion with others.





I found these 5 tips to be valuable and appropriate for the stage we're all at with this particular course. Probably the biggest advice I took out of this article was said in tip 4. I tend to be the kind of person that will often do it my self in an attempt to cut costs or so that I can do things the way I like it; however, overtime I've come to the realization that for certain things (especially legal issues) getting an expert involved will end up saving time and money in the long run. Nothing mind blowing, but some good food for thought.

In the video above, Sir Ken Robinson discusses the current education system and its negative effects on creativity. He goes onto argues that kids are born naturally creative and when they don't know any better they are far more willing to take a chance and make mistakes. In other words they aren't afraid of being wrong. In the same sense, if you're not prepared to be wrong, you'll never come up with anything original. However, the problem is by the time children reach adulthood, most kids have lost the capacity and are afraid of being wrong. Robinson argues that this is a product of our educational system that essentially teaches kids at a young age that being wrong is the worst mistake they can make.  Robinson suggests that we are in fact educating people out of their creative capacities through current educational practices.

I found this particular infobit extremely interesting and encouraging because as an entrepreneur we often learn the most by making mistakes. I think from a management perspective when running my own business it is important to remember that creativity is a process and that it is okay to make mistakes and let employees make mistakes so long as there is a lesson learned or an attempt at doing something different.

This is a great invention for any student. Especially if they have trouble concentrating. Free Logics new device allows you to monitor your brain activity by simply attaching to your leg or arm. Body Wave by Free Logic will tell you exactly when you have reached a peak performance state, if your being distracted, and can help you get back on track. It uses signals from your brain and sends it directly to a computer or mobile phone keep you updated instantly. It has also been known to help stress levels and help people cope with stress. The latest thing they are working on is to see if it would work for individuals who suffer from ADHD.