Venture Concept No. 2

Venture Concept No. 2:

(The work below is the same as my description in Venture Concept No. 1 because unlike most other students I have already spent years developing my idea which entails an official description from my US Patent.  I am currently in the marketing phase and as my idea stands I haven't had a need to adapt my venture concept.  

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The opportunity imbedded in my venture concept is focused upon a niche in the headset and portable audio market.  There is an unmet need in the headset market and it directly pertains to the tangling of most all headphone wires.  There really is no solution to tangling and hard to manage headset cables.  The people currently searching for a solution in the market are hungry to buy and open to adapting to a new idea.  This leads my invention to be very desirable.  Furthermore, the customer audience is very wide and diverse.  Essentially anyone who currently owns a headset or is looking to use a headset in the future is a customer.  This embodies a massive audience.  Apple sells their phones and iPods with headphones that tend to tangle very frequently.  This alone is a large market that can adapt my idea to improve the user experience.  Plus the nature of the need is located upon a current platform.  The headphone market already exists and is very competitive.  Beats headphones and Bose for example own a large share of the customer base. These two monster companies competing allow for very high returns if one is able to enter into the elite market.  The fact that I have a patent on my idea protects me from any of these companies using my innovation.  I can wedge myself in and implement my vision without worry of theft.  Adding to this, the headphone market is expanding.  Older generations are jumping on board with the technological age and accepting the new norms.  This expands the market in both directions, as young generations are a “give in” for adaptation of new technology.  Customers are very loyal to their headphones and the industry is not going away any time soon.  Music has been around since the stone ages and will only flourish more in the future.  So if the work is done right, the opportunity is massive because of the nature of the industry.  The window of opportunity is only affected because of the growing Bluetooth market. This market is negative because of the harmful radio waves associated with the function of Bluetooth as well as the lower quality that this alternative possesses. Sooner rather than later will help so the movement to Bluetooth can be avoided.  Customers are running to Bluetooth because there is not another solution to tangled headphones.
My innovation is the Recoil Device for Mobile Phone Headsets.  Here is a description brought directly from my United States Patent:  An enclosure which provides a storage of mobile phone headset cables as well as a means to extend and retract said headset cables is disclosed. The enclosure allows the headset cables to be wound internally onto a large diameter reel while a mobile phone connecting cable is wound onto a smaller spool, thereby allowing a greater length of headset cables to be extended. A button enables said cables to be retracted to eliminate slack while the device is in use, or to completely retract the cables when the device is disconnected from the phone. The retracted cable portions may be contained within the enclosure which further comprises a plurality of nests along external surfaces for the storage of ear buds, a microphone, and the phone connection plug in a flush manner, thereby avoiding the entanglement of exposed loose cables.  Furthermore, here is a description of the background of my invention:  Many people have grown accustomed to the convenience afforded by wireless cellular telephones. Many people, including young children, carry a cellular phone on their person at all times or know where they can get their hands on one at all times. To further the functionality of such phones, manufacturers have recently added the ability to sync a wireless headset using a BLUETOOTH® connection or equivalent protocol.
Even with the availability of such wireless earpieces, many users prefer wired headphone solutions due to their reduced RF exposure, higher fidelity, lower cost, and ease of use.One (1) drawback associated with the use of wired headphones is that the cord is unruly and annoying to manage when not in use. Many users place the headphones into a pocket or purse where they become knotted up. This causes difficulty the next time they headphones are need, and can damage the headphones and wiring over a long period.In some cases, to avoid tangling, the cord is just left dangling from the user's head even while they are not using it. This has obvious downsides such as posing safety hazards, diminishing the user's ability to hear environmental sounds, looking strange, and increasing likelihood of damage to the headphones due to contact or snagging.Various attempts have been made to provide cord take-up devices for earphones. Examples of these attempts can be seen by reference to several U.S. patents, including U.S. Pat. No. 3,798,389; U.S. Pat. No. 4,942,617; U.S. Pat. No. 5,422,957; U.S. Pat. No. 5,684,883; U.S. Pat. No. 5,832,098; and U.S. Pat. No. 6,480,611. However, none of these designs is similar to the present invention.  While these devices fulfill their respective, particular objectives, each of these references suffer from one (1) or more of the aforementioned disadvantages. Many such devices are not sized or designed for constant comfortable connection to a cellular phone or similar device. Many such devices do not work with a wide range of audio devices. Many such devices do not provide convenient attachment or carrying means adaptable to a user's preferences and particularly suited for portable connection to a cellular phone. Many such devices do not include provisions for microphone assemblies as are necessary for cellular phone compatible headsets. Many such devices do not provide convenient concurrent operation of headphones, microphones, and plug assemblies in a quick and ergonomic manner. Accordingly, there exists a need for a recoil device for mobile phone headsets without the disadvantages as described above. The development of the present invention substantially departs from the conventional solutions and in doing so fulfills this need.
Lastly the Venture Concept will apply to all of the customers looking to trade their headphones for something that will actually make the user experience more enjoyable. Ultimately this is beneficial to both the customer and myself because I am offering a legitimate solution.  It shouldn’t be hard to get customers to switch because my headset should cost roughly the same amount as a standard headset but offer a better solution. The competitors are other recoiling companies but they cannot use my dual spool technology so they have a disadvantage in the market.  Their headsets will dangle in the center while mine can be flush and stowed away in a pocket or on a belt.  My venture is currently diving into the market aspect.  The next thing that I want to accomplish regards making a static prototype, then a functioning one and eventually putting them up for sale.  In the next five years I want to be selling my invention even if it is just locally, that way I can get an idea if it is working and also receive feedback regarding the functionality of it.  In the next ten years I want to be producing on a massive scale and selling in stores like Best Buy to a major audience.   Ultimately, I want to revolutionize the headphone industry. 

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Provide a summary of the feedback you received from your previous venture concept description. You certainly want to include the student feedback, but you may also include the feedback you received from others during the "What's Next" exercise. You want to summarize all of the feedback, but be sure to place an emphasis on what people recommended you change about your idea. (In other words, don't just describe the positive feedback.)

The feedback I received was primarily positive and mainly agreed with my assertions.  Many individuals stated that they would buy or use the device.  I found this very good and also made note that many individuals wanted to use it when working out.  So this will be an audience I focus marketing on.  Negative feedback however was sparse but present.  Someone mentioned that corded technology will be obsolete which I think is incorrect.  Corded technology is going away because there hasn't been a solution to tangling, not because cordless is better.  Cordless actually is worse quality sound and poses several health hazards from radio frequency exposure to the brain.

Describe how you changed your venture concept, based on what you learned from the feedback.

Based on the feedback I got I do not need to change my venture concept which is why it has stayed the same.