Betting on a VR Future and Knowing When to Pivot
In the wake of mobile VR's emergence in 2014, Luc established Good Yeti, Inc. with a vision to overcome the primary adoption barriers of this nascent technology. The goal was to democratize the experience of "presence" in VR and provide compelling content, thereby positioning VR as a powerful tool in marketing and promotional strategies.
Key Contributions
Mailable Mobile VR Headset:
Designer and Inventor of the first mailable mobile VR headset, making VR experiences more accessible to a broader audience.
SaaS Products:
Product Owner and Designer for several Software as a Service (SaaS) products to leverage VR in marketing, including:
A VR art gallery to showcase digital art in an immersive environment.
A VR science exhibit for educational and interactive learning experiences.
The first virtual reality focus group tool, revolutionizing market research through immersive user feedback.
Methodology
Radar Hypotheses:
Utilized to anticipate and adapt to emerging trends and technologies in the VR space.
SWOT Analysis:
Conducted to understand strengths, weaknesses, opportunities, and threats, guiding strategic decision-making.
Lean Canvas:
Implemented as a planning tool to quickly test and validate business models and value propositions.
Risk Management:
Prioritized and mitigated potential risks associated with pioneering a new technology.
UX Testing:
Conducted extensive user experience tests to refine VR products and ensure they met user needs effectively.
Blue Ocean Strategy:
Adopted to create new market space and avoid the competition-heavy red oceans.
Pretotyping:
Employed to test product concepts rapidly before full-scale development, saving time and resources.
Results
Product Innovation Recognition:
World's first mailable VR headset helped fuel a wave of VR promotional products in the US and Hong Kong
Industry Recognition:
Good Yeti's VR products, particularly the focus group tool, influenced maturity of additional research methods such as eye-tracking
Strategic Partnerships:
Established partnerships with leading educational, real estate and art institutions to expand the reach of VR experiences
Innovation Leadership:
Recognized as a pioneer in the VR space, with speaking engagements at innovation conferences such as Kellogg Innovation Network
Lessons Learned
when building strategy on high-risk technologies, predictions need to be base on user adoption barriers and adoption enablers
know when to exit; write out a clear mission statement and constantly review. If the business shifts against the mission, the business plan must be re-evaluated
make hard decisions early about team fit for essential roles