Beta Byte is a series underwritten by Bust Out Solutions for that early stage tech found somewhere between idea and traction.
What is the name of the company and product?
What problem does it solve?
For sports organizations, tryouts are hard. TeamGenius makes it easy by leveraging the best mobile and cloud technologies to replace the old time-consuming manual paper processes and provide instant access to the results and process from anywhere. We create additional value for Sport Ngin customers by integrating with their Registration and Team Management features, streamlining their process even further.
The “aha” moment was when we were showing off our first stand-alone version of the product. Most people said “Great, I’d love help with tryouts, but can I do it on my iPad?”.
What is the full launch/release date planned?
Full launch is planned for January 14th, 2016. This is the starting date of the National Soccer Coaches Association of America’s convention, which we will be an exhibitor at.
Who is on the team?
What is the specific technology or combination of technologies is used? Is there any IP?
TeamGenius mobile applications for iOS and Android are built in Xamarin with Visual Studio. The web application is .Net and the platform is built on Microsoft Azure. We also have a patent pending on the numerical method used to combine scoring sources of any type to produce the most accurate player rankings possible.
What is the size/scope of your market and how will you scale?
An estimated 38 million kids play youth sports of some kind. With our per-player pricing model that should average about $4 per player per year, our market size for the subscription license is $152m per year. On top of that, our Professional Services group will charge one-time fees for setup and custom reports, which may average $300 per organization. With an estimated 50,000 target organizations, this adds another $15m to the market size.
We look to scale by landing high value customers early, such as sports governing bodies and multi-region/multi-sport organizations. This will keep our costs per customer down while giving us the revenue to scale up quickly as we build out additional features.
What is your revenue model?
We will implement a per-player licensing structure with options to allow use for only 1 month during the year, or an annual license that costs more per player. These models should average about $4 per player, per year. We will also build out a Professional Services side of the organization for customers who want help in setting up complex assessment models and customized reporting.
What is your greatest strength?
Our biggest strength is the timing of the product. Customers will be made up mostly of non-technical folks, but in recent years have become very familiar with mobile devices and are getting comfortable with their data being in the cloud. There is also very little competition in the “tryouts software” space, and the integration with Sport Ngin’s new Team Management features adds value to both systems.
What is your biggest weakness?
Our biggest weakness is entrepreneurial experience. For the founders, this is our first time launching a new company. However, by taking a “Lean Startup” approach, we are learning and making adjustments as quickly as we can.
What is one resource you could use that would take this to the next level?
We could use a business development manager that can help drive direct sales after launch, maintain our social presence, and give guidance on how to scale from 0 to whatever the next milestone is.
Is there anything else you would like to add?
TeamGenius is for any sport and any level. The assessment management concept also has applications outside of youth and amatuer sports, which we are excited to explore at the appropriate stage of growth.