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Technology Stocks : FirstWave Technologies (FSTW)
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To: Oeconomicus who wrote (6938)12/3/2002 5:55:18 PM
From: The Vet  Read Replies (1) of 9677
 
An OT aside on market numbers..

Way back in the dim dark ages I actually invented and produced an affordable electronic system for intensive care monitoring for veterinary surgeons. This device was great, and a huge advance on anything else on the market. I sold through a wholesaler who, for the first 3 months was pressuring me to increase production in order to meet his "huge" backlog of orders!

Suddenly in the fifth month of production he called me and cancelled his next 3 months forward orders. He had sold a total of around 1,400 of these devices in four months but on a more careful examination of the market by examining the government lists of registered veterinary surgeons (I was selling in Australia) it became painfully obvious that the total number of possible buyers only slightly exceeded 1,500.

I had in four months got 93% of the possible market but that was it. It didn't wear out, required no maintenance and only one was ever needed by each vet surgeon.

The lessons of not doing proper market research before commencing production were brought home with a thump. At the sales rates of that first four months a very comfortable retirement before I attained the age of 35 seemed assured but sadly it was not to be....
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