Our Roles:
- Consulting & Coaching
- Products & Services Curation & Sourcing
- Retail Channel Development & Management
The Challenge
The smart home industry continues to grow rapidly and some companies, such as MobileCo, are ready to take advantage of the products and services found in this niche. Within this industry, the emergency response niche is a narrow space that includes a vast array of start-ups and retail companies.
MobileCo not only needed to explore the space in a deeper way, but they desired to do so quickly. They needed to cut through the noise and find the right companies without understanding exactly what they were looking for.
The Solution
A Streamlined & Fast Health and Wellness Xelerator Program
Unfortunately, the traditional RFP (request for proposal) process can take a long time; time that MobileCo didn’t have. Instead, the team at Sprosty developed a streamlined health and wellness Xelerator program to both curate and coach start-ups in the space while connecting them with MobileCo.
Our team first sifted through the space, curating hundreds of companies for MobileCo to choose from. At the end of the selection process, MobileCo possessed a docket of 15 companies from large to early-stage start-ups. During the coaching phase, Sprosty taught each of these companies MobileCo’s needs, the opportunity for the company to expand, guidelines for decision-makers and more.
During the final stage of the process, each company presented their ideas in a practice round pitch to a MobileCo stakeholder. With this feedback, each company then presented a custom-tailored pitch to the rest of the team, detailing how they can best serve MobileCo.
The Result
As a result, MobileCo chose two companies to generate new product lines including one hardware and one software company. Soon after the Xelerator program, MobileCo developed a product that they have now taken to market. The Xelerator program designed by Sprosty cut through the traditional sourcing process, decreasing the “time to done” to only two months.
MobileCo now provides their customers with a new product while enhancing their bottom line with new revenue streams. They also now possess an understanding of this narrow niche, preparing them to offer new products and services in the future.
MobileCo was able to gain valuable partnerships with two companies. These partnerships resulted in taking a new product to market, which increased the company’s revenue streams.
In only two months’ time, MobileCo was able to cut through the noise and gain an in-depth understanding of the narrow emergency response niche.
MobileCo was able to source these companies without understanding what solution they required at the outset of the project.
*We take our clients’ confidentiality seriously. The results are real, the company name isn’t.