How Do You Calculate a Product Cost?

Ultimately, this story is about making a better mousetrap. After seeing people struggle with lacing systems, BOA founder Gary Hammerslag used his experience in medical device wires to fashion a mechanical wire-and-real closure system that allowed for uniform, consistent fit. Two things are important here: First, consumers weren't thinking they needed something better. Second, Gary didn't try to devise a better way of lacing up winter boots, he came up with something entirely new, different and better. He saw a problem for which a solution wasn't even being considered, which means opportunity. The challenge, then, wasn't just to create a solution, but figure out how he could bring it to market. And therein lie some of the key lessons in this episode - Gary talks about working with OEM partners, preserving capital, and marketing to two different audiences.

For full show notes, links and images, check out this show's post at TheBuildCycle.com/Podcast

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