Research: Entertainment Industry

Part of being in an innovator is being good at networking. Within my specific industry I have researched the National Retail Federation as a good source of information regarding building my business.

The National Retail Federation contains over 1.6 Million US retail establishments with more than 24 million employees and 4.4 Trillion dollars in sales globally. The NRF has a broad reach and covers so many channels it provides some great insight into the retail industry and its wide scope.

The NRF also has a pretty comprehensive blog that tackles a variety of subjects pertaining to the retail industry. For example the post from today was centered around patents and obstacles associated with obtaining them.  The post also warns of "patent trolls;" people who's sole goal is to find and patent obscure items related with products and then sue the manufacturer.  Definitely an interesting read.

Another reason I chose to look at the NRF is because of their substantial research base that they provide for free on their website.

This research breaks down consumer trends for the past few years and really shed some awesome light on what motivates people to buy.  I've been using my time on the website to see when and where people are buying backpacks and back to school supplies. The website's content helps me see what makes a successful product fly off the shelves, timing and placement.

The NRF's research is what really sets it apart from other like-minded websites. Their free research helps small and large businesses alike look at their industry and grow their business accordingly.

I would absolutely suggest fellow entrepreneurs who are trying to break into a retail based business to follow NRF and stay on top of what they have to say.

Taking Imagination Seriously: Ted Talks

Recently, I was looking up videos from the TED Talks lecture series. While browsing the vast library I searched specifically under the heading "Innovation." The first playlist that popped up was under the heading "The Creative Spark." In this playlist I found 10 videos that all spoke specifically to the idea of being creative, how to hone your creativity and how to foster it. One video that initially stood at to me was Janet Echleman's Taking Imagination Seriously.

In this post Echleman talks about being denied entry into 7 different art schools and her struggle to find her style. Echleman goes on to discuss her search to be creative and express herself through her art.

The short story is that Echleman eventually was searching for inspiration and found it in a standard fishnet of all places. Echleman began by manipulating the fishnets and starting to hang structures made of fishnets around and watch as the wind manipulated the porous surfaces. The result was a beautiful shifting structure that has a calming effect on all that see it.

Echleman's sculptures are now hanging in some of the biggest and most trafficed intersections in the world. Currently New York City has approached Janet to create a fixture for Times Square.

A consistent message through Janet's speech was to never let your imagination become stifled. Even though she couldn't get into art school or was ever classically trained she still found a way to express her vision.  Her no quite attitude and story definitely inspired me as someone who's working in a field without much previous experience. 

If I learned one thing from the talk to apply to my life it's that if you keep searching and fighting for what you want eventually your dream will come to life.

It's been said multiple times that the name makes the man.
Well to put this terms of a brand I believe the Logo makes the name.

How many awesome companies are out there that don't even get a good look because of how awful their logo is?

Over the past couple months I have been contemplating many things with the brand non being larger than my brand's logo. I wanted to make a logo that speaks to the simplicity yet functionality of my products while still being unique and one of a kind.

So like any modern day artist I snooped around the internet to find some inspiration from some brands I respect.

Vans:
Vans is a company that's been doing it for a while in the shoe/skate scene.  They're original logo is a catchy, traditional logo that's easy on the eyes and unique.  All the while easily placed on apparel and products.

I really like the large block letters and the V looking like a modified version of the square root sign.  A timeless logo that without even reading viewers recognize the brand.

Vans is a great example of a company that's implemented their company name right into their logo. 

Billionaire Boys Club:

The next brand I looked at was rapper and entrepreneur Pharrell's line of clothing.  The company has a really cool logo in my opinion.  The logo is an astronaut's head in an artsy 2-D fashion. 

Occasionally accompanied with the Billionaire Boy's Club name, the logo is definitely strong enough to stand on its own.  And since it's conception in 2005 the logo is now easily recognized and respected in the fashion industry.  

I really like what Pharrell and his team did with the logo and definitely think with the right, simplistic design a logo can be strong enough to stand on its own with no text.

Haircut Time:

On a completely separate tangent I researched top logos from January and February on designyouway.com.  Out of these one that stood out nicely to me was one that was designed for Haircut Time.

I really like the incorporation of the text logo with the physical idea of the "Haircut Time" clock.  The matte green also looks nice against the all white designs.

Summary:

With the research phase behind me I took to Photoshop and Illustrator (which I am no Master at by any means)to try my hand at a logo.

In the end I was happy with the logo I came up with as a first draft. I really think I can more fully develop the idea out but, I think for right now it fits what I am trying to do with my brand.

Next steps for the logo include making the zipper a little more square in Illustrator as a vector shape.  I also would like to play with the colors a little bit and see if I can come up with something a little more eye catching.

For now though I like the inspiration I've found in others' logos and look forward to the future evolution of mine.

Market Research: A Quick Glance Around

While the designs for my backpacks are currently in the prototype stage a useful practice that every entrepreneur should do is look at the current market he/she is trying to break into. Since I'm looking at creating a brand and specifically start out with my own line of backpacks I'd like to use this blog to identify top competitors and what is pushing the needle with these companies.
I've identified 3 brands that really seem to push the limit within the backpack industry and are always at the forefront of back-wear style.

Brands:
Nike
Dakine
North Face

Nike-
Overview- If you're going to look at lifestyle brands within the fashion/sports scene you absolutely must take a look at Nike. The checkmark has been doing it longer and better than anyone else.
What's hot in the market- Within the world of Nike backpacks (which is a vast, vast world) the company is currently pushing quite a few "knapsack" style packs. That is, they are pushing the packs with the strings through them that you bring to the gym. This makes perfect sense as it is currently the middle of March and basketball season. Awareness among consumers about basketball is at one of its highest points. (The highest or equally highest being during the NBA Playoffs).
Smart move by Nike to bring what's on the consumer's mind to them at the right time.
Price range- $12-$16. Another beautiful thing about knapsacks...they're cheap which = higher sales.

Dakine-
Overview- Dakine has always been the extreme sport enthusiasts' pack of choice. From custom tailored skate backpacks to snowboard and beyond, Dakine has done a great job making practical packs that look good and function well.
What's hot in the market- While Nike is focused on the more mainstream side of things, Dakine is focused on the weather; snow in particular.  Dakine boasts a range of high end, quality backpacks for snowboarding, skiing and outdoor activities.  The brand seems to have found a way to balance both practicality and style.
Price range- $80-$230

North Face-
Overview- The outdoor enthusiasts pack/brand/supply outlet of choice, North Face has been in the backpack game for a while now.  With a long, eclectic line of products North Face truly is the one stop shot if you're a hiker, camper, climber etc...
What's hot in the market- Snow! Much like Dakine North Face is currently in it's winter push. Doing everything they can to market to the loyal snow lover.  With a line of backpacks that are freezeproof, water resilient and/or able to carry a tent, North Face definitely has the backpack game on lock.
Price range- $90+

Conclusion-
A quick glance at a diverse group of companies specializing in the backpack department reveals a couple things.
1) Stick to your demo. There were no basketball backpacks being pushed on Dakine's site. And vice versa there weren't any snowboard packs being pushed on North Face's site. This tells me to stick to you demo, market to the things your customers are looking for.
2) Timing is everything. If it's winter push weather specific gear. If it's a certain spots season, push those items.
Great lessons to be learned once digging a little deeper into what's really going on with these brands.

Brands on my Watchlist

In the American world we live in people have become increasingly desensitized to companies traditional marketing, operations and products. As an inspiring entrepreneur and hopeful future business owner this is an exciting and terrifying thought. The simplistically brilliant is standing out while the complicatedly busy falls by the wayside. For a brand to truly stand out you must be brilliant and make it look easy.

Below is a short list of 3 brands/companies that I admire and aspire to make my company model after.