Uncovering Hidden Opportunity

Uncovering Hidden Opportunity

Don’t be so Insecure

The go-to security measure for most software application is a username and password. We see it everywhere, yet, as hackers become more sophisticated our usernames and passwords become more insecure.

A client came to Taivara with a potential solution. They had existing intellectual property that used already-available information on a device to better ensure the user was who they claimed to be.

Can We Sell This?

The client wanted to turn that IP into a product. They asked Taivara to research the market and see if there was a demand before investing in a full build. Taivara’s Opportunity Assessment consultants dug deep into the cybersecurity field to uncover opportunities for the company.

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Looks can be Deceiving

The client’s initial assumption was to sell to enterprise customers. Large corporations are always under attack from cyber-threats and the have money to spend.

However, Taivara’s consultants found that the space was highly competitive. The cost of entry was high and established competitors could be dangerous. Taivara shifted the client’s thinking to a new, more promising, opportunity: Consumers and IoT devices.

A World of Opportunity

The consumer and IoT space was largely untapped. IoT was a fast-growing, but new, industry. The hands-free nature of IoT devices made them perfect targets for cyber-criminals and a perfect fit four our client’s technology.

The consumer market wasn’t as obvious. However, after careful analysis, we saw the vast opportunity. The average consumer isn’t thinking about cybersecurity, nor are they willing the pay the big bucks for it like an enterprise. However, rather than collecting big payments from a small number of enterprise customers, there was an opportunity to collect small payments from a big number of customers.

Both markets were a blue ocean.

The Next Steps

The new business model pleased our client. They appreciated that we challenged their assumptions and opened new doors.

They invited us to continue the project and test our assumptions with the new market.

The Next Step: Fit-Testing

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