Not long after GoPro released its first product in 2004—a wrist-mounted, waterproof, 35mm still camera called the Hero—company founder and CEO Nick Woodman made a pilgrimage to the headquarters of home-shopping channel QVC in West Chester, Pennsylvania. The network was holding tryouts for new inventors eager to hawk their merchandise on-air, and after waiting in line with hundreds of other hopefuls, Woodman and his as yet untested creation were selected to appear.
“I was researching online and I saw an ad for QVC’s ‘Inventor Search’ competition, and it linked to an audition form and dates,” he says. “The only remaining date was at QVC’s headquarters in Pennsylvania in a few days. I figured I had a pretty good shot at getting on the show, so I bought a plane ticket and went for it. The line went outside of the building, and I was one of the last people to be interviewed. They loved my product idea and I made it on the show. That still ranks as an early career highlight for me and GoPro’s first break into the mass market. It was also an example of the power of having an ‘I am doing this’ attitude. Think it. See it. Then do it. Boom.”
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Still, the company faces numerous challenges, some more daunting than others. GoPro’s stock is down nearly 50 percent compared to last year, and the company “anticipates difficulty in meeting forecasted demand” due to “compromised” production. According to TechCrunch, it will be “difficult for GoPro to repeat its action camera dominance with both drones and virtual reality…This sentiment was echoed by investors on the earnings call that questioned CEO Nick Woodman’s thesis for the business.” Woodman expects a return to profitability for GoPro in 2017, which he told investors would be “more of an evolutionary year, rather than a revolutionary year.”
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Courtesy of GoPro
Right now, Woodman is focused on the GoPro Karma, a new drone released in October that retails for $799. When bundled with a Hero5 Session or Hero5 Black camera, the Karma will let users take aerial HD video with what Woodman describes as “Hollywood-caliber” stabilization. The Karma experienced a somewhat shaky launch, with the company having to issue a recall a month later, when the units began losing power in midair. However, anyone who bought and returned their Karma under the recall received a full refund, and was given a Hero5 Black as a thank you.
“We’re a storytelling company,” Woodman explains. “Stories help us celebrate and remember our experiences, validating and expressing who we are as individuals. No matter what your story is, we’re going to help you capture and share it…with others, or just for yourself. You’ll be amazed at how happy your own story can make you feel.”
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Courtesy of GoPro
He continues, “People deserve to see themselves doing what they love in life. In a very positive, chi-boosting way, GoPro helps people celebrate themselves in a way that reinforces their identity and brings them happiness. A GoPro’s most basic purpose is to make its owner happy.”
Source: Maxim