Results: Describe the expected results of these actions over the next three years. Please address each year separately, if possible
1) Canadian Growth / US Entry (Q3:2010–Q1:2011)
With a refined technology platform, a large supply of products, and a proven model, Ethical Ocean will expand its presence in Canada and make final preparations before entering and rapidly growing in the US market.
The Canadian expansion and final US preparations include:
1. Utilizing our initial market testing knowledge to invest in more targeted SEO and marketing to scale our traffic and presence on the web;
2. Developing a well-recognized and a well-regarded brand that is known to both buyers and sellers of ethical goods;
3. Developing additional site functionality to enhance user experience, continuing to build our online community to increase retention, and building brand trust through both online and offline marketing channels;
4. Developing a deeper understanding of the products that are in highest demand, and continuing to improve our product offering until we have consolidated the majority of the market, including offering the most internationally recognized brand names;
5. Hiring a second full-time employee, a VP of Technology, to prepare for launching the US focused version of Ethical Ocean; and
6. Registering Ethical Ocean as a US corporation and preparing the corporate governance structures to support the expansion.
To fund this growth and expansion, Ethical Ocean currently seeks an angel investor. By Q1 of 2011, Ethical Ocean will rapidly deploy in the USA. This will involve our President of Operations moving to our chosen location, either Silicon Valley or Seattle, where we will headquarter Ethical Ocean USA.
2) Stage 4 – Scale & Innovate (Q2:2011 – Q1:2013 )
With a successful deployment of Ethical Ocean’s brand and technology in the US, our team will focus on growth and innovation. This will include:
1. Conducting a targeted consolidation of the US ethical market, starting in the largest growing ethical regions of the US,
2. Leveraging a larger pool of marketing dollars to compete in both the SEO and traditional marketing spaces, and
3. Utilizing our understanding of top selling ethical products to evolve our business model to include inventory, allowing for higher margins, reduced shipping costs and more control over end-to-end operations.
To support this rapid growth and innovation, Ethical Ocean will seek Venture Capital funding around Q4 of 2011 to rapidly secure our position as the market leader in online ethical shopping.