Guardian Goggles

An invention by Joshua Kinyon

Overview

My business, Guardian Goggles, will produce glasses designed to help people fight fatigue. By using eye-pattern recognition technology, Guardian Goggles will emit an alarm when people show the tell-tale signs of falling asleep. This product will be marketed to pilots, miners, and commercial truck drivers. Within these industries, fatigue causes massive expenditures, serious injuries, and even fatalities. I have a great deal of knowledge in the inner workings of my product and the industry as a whole. My main barriers include high start up costs and intense competition, but I know that this is an idea that can, and will succeed.

Market Research

This market is a very complicated one. It is a relatively new market, and thus, there is the potential for huge success if one can build competitive advantages. My customers would include individual pilots, miners, and truckers, with the hope that companies would eventually purchase and distribute the product to employees, making it an industry norm. I would face stiff competition from companies all over the globe. The idea of creating a product to stop driver fatigue is not new, but the way I'm creating this technology is. My product will be more accurate than products mounted to a dashboard, and more comfortable than current driver-worn technology. These competitive advantages would allow me to beat my competition. In addition, I would be put into a massive web of political issues and regulations by entering this market. Navigating this web without getting tangled in it is the key to my success in implementing Guardian Goggles.

Management Decisions

Excellent management decision making will be necessary to my company's success. My mission statement, "At Guardian Goggles, we create quality, innovative technology that helps to improve the safety of our highways and airways by fighting fatigue" provides a positive image for my company that succinctly summarizes what my company does. My company will contain a few subdivisions, each with its own executives, to help me manage the company. A corporation would provide me with safeguard from personal liability and would allow me to quickly raise capital. While I may lose control over some operations, I would be receiving enough benefits in return. Finally, my company would benefit from a company culture similar to Google's, where employees are given some time each day to do whatever they want while on the job.

About the Product

My product will be Guardian Goggles, a type of eyewear to prevent one from falling asleep while operating machinery. I will use a pricing structure where I markup the variable costs greatly to make up for moderately high fixed costs, making the product cost between $160-170. My product is the development stage, and will enter the introduction stage at a later date. I will protect my intellectual property by means of a provisional patent, as this allows me to development my product further and raise capital. Finally, I have conducted research on the interest level in my product. I will need to conduct more research and development to increase the accuracy and reliability of my eye-pattern-tracking technology.

Summary

This invention has the potential to change the world. By tracking eye patterns to prevent people from falling asleep, it undoubtedly makes our lives safer. The practical use of Guardian Goggles is massive, and it would be a wonderful idea to invest in the product, so that it can be developed and implemented.