Image by Paz Valls Garcia
JogAlong had a great opportunity this spring. We were invited to participate in a program called The Berlin Experience.
MBA students from Wichita State University‘s W. Frank Barton School of Business work as part of a team with MBA students from the Berlin School of Economics and Law on a semester-long consulting project. Led by Professors Dr. Chris Broberg, from Wichita State, and Dr. Sven Ripsas, from Berlin School of Economics and Law, the students research and present the best options for, in our case, JogAlong to enter the German market. There are also teams working with German companies on the best way to enter the US market.
Individuals on JogAlong’s team were highly diverse; we had an architect, a developer, an engineer, a salesperson, and an entrepreneur. From left to right in our ergonomic running pose are Chelsea Krueger, Kristina Baltazar, Mike Dresher, Mohamed Rida Hanti , Paz Valls Garcia, and Steve Heiden.
The level of research and the quality of the presentation were outstanding. The report broke new ground for us on specifics within the German market, as they interviewed German retail store owners who would be likely to carry a product like JogAlong and potential customers during their meeting in Berlin. Their approach to determining market size, potential customers, and suggestions for growth potential will be valuable to us as we move forward in Germany and other EU countries. A big thank you to the team for all their great work and to Dr. Broberg and Dr. Ripsas for including JogAlong in the program.
In JogAlong news, my March trip to the manufacturer was pushed back to mid May due to scheduling on the factory side. Our momentum has been good recently, but the process frequently tests our patience. A report on the latest prototype will have to wait until the next newsletter. However, we now have some solid numbers to work with from the tooling estimates and product cost standpoint, so that has allowed us to tighten up the financial model and business plan. It’s my goal now to make a few visits to investor groups before I leave. We also have some investment ideas that may involve you, so please stay tuned.