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Hidden Nation: A Case Study In Engineering Entrepreneurship

The lee Prescotts journey into entrepreneurship began with his passion for BMX (bicycle motor X). he gradufrom uniersity with a B. sc. in product design !" years prior to establishing hidden nation. The companys prodrange is centered on high #uality$ specialist BMX frames and components which lee learned all about during his ecareer in specialist bi%e design. &ee %new from personal e'perience that those who compete at the highest leel inBMX circuit worldwide demand only the best frames designed and manufactured to the highest standards.

THE MARKET

The mar%et is mature and populated by discerning buyers. The BMX has wa'ed and waned since the !"s $throughout the racing circuit has remained strong$ featuring a number of racing styles and classes whether iflatland or trail completion. *irst and foremost lee$ is an engineer who has learned and understood e'actly whamar%et wanted and could not get . the reali+ation awo%e the entrepreneur in him but first he had to get the pro

right$ both in terms of design and performance and brand alues . the customers not only wanted high performabut also wanted to be associated with a distinctie and uni#ue niche brand where the best buy only the bfurthermore in such a ,elitist mar%et customers become sales representaties because they are proud to be associawith the brand .

THE DESIGNING AND ENGINEERING ISSUES

-ustomers in this niche specify their own bi%e design in great detail encompassing eery major and minor compoand assembly. The bi%e must be durable$ safe and fast . Therefore eery engineering decision lee made was madrien from the outset in order to meet the performance objecties.

eat treated$ (/01)lightweight $ hardened tubing was selected and supplied by 2eynolds tubes in the u% an

partnership established with a -+ech company in order to achiee the re#uired manufacturing standards withmar%etable cost3price structure. 4#ually as important as the frame were the stems and posts that lin% the frame torest of the bi%e . these were designed to specific criteria too$ with the aoidance of thread stripping $ minslippage and safety as priorities . the number of components are reduced to minimi+e possibilities of failure and aunnecessary production costs .

Marketing Strategy

5ow$ the engineer became more of an entrepreneur. aing seen the mar%et opportunity the engineer had to getproduct to mar%et. 6ntil this moment in his career lee had wor%ed in large organi+ations alongside sales mar%eting colleagues but now it was up to him to ta%e the product to mar%et. *irstly the brand had to be consideand the first steps ta%en to establish its position in the mar%etplace. -areful research showed that a connection wit

,alternatie style and off7beat innoatie solutions offered the right alues. The name ,idden 5ation impdifference and mystery .

inan!e

8ll of the aboe hae to be funded. a business plan was created and shown to a ariety of traditional fundresources $ ban%s $ enture capitalists$ business angels and business adisors from seeral institutions. &ee wasyoung$ too optimistic$ wrong about the product $ wrong about the mar%et . &ee got used to rejection but carried

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regardless. e bac%ed his own belief by remortgaging his own house and inesting 9 1"$""" of his own. e remafull time employment as head of design for a #ueue management company system wor%ing as hidden nation ineenings and reinest all the profits from trading actiity.

"i#$iography

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