We were tasked with what looked like a simple problem, audio tapes suffer physical and magnetic deterioration over time?
Our solution, is a company called Recovio. Our strategic angle was to provide a full package for small cultural institutions and recording studios looking for a solution to help preserve the value of their deteriorating audio tapes. We believe that these markets are untapped and our services will allow us to address these small institutions from every angle.
Our five fundamental services are:
- Documentation of metadata, and non-auditory reference info
- Evaluation of the deterioration or damage to the tapes in question
- Reconditioning of any physical deformations of the medium prior to digitization
- Digitalization of the tape (in its best condition) and metadata logging
- Secure physical and digital storage and access
One strong selling point of Recovio, was that these services would be offered at a modular and package level that would enable us to access customers at varying needs and price points.
We know that this industry of archival and digitization is vast, but we believed that providing a complete package on a small scale as we start will allow us to adapt to the changing market and remain open for opportunities along the course of our company’s development.
Business Model Canvas
Here is a brief overview of what we decided would be some of our value propositions, resources, and market segmenetations for our company.
Our market would be focused initially on Norwegian private cultural institutions or very small public collections as well as recording studios who may be in need of our services. Our modular service suite would allow us to approach each from a number of angles but with an emphasis of being the go to solution for the digitization and archival of their old tapes. However, we would additionally be able to work with new formats for studios that may need support hosting their files on the clouds. Based on our research, were the markets we’ve found to best to target and fit our model.
These markets are out of the range of the public sector and may be in need of the technical services that otherwise don’t exist on the private and small-scale. Our research suggested that a lot of public cultural institutions and libraries already have access to public services that would allow them to digitize at scale so we adapted our focus.
Again, we believe Recovio could provide these small institutions with the full suite of services to recover, digitize and store their valuable collections while also operating at a modular level for customers who may need just a little technical support in preserving their tapes. We felt our solution would fill a vacancy left by larger public operations who would be unfit to serve our potential clients unique projects and needs.
Going forward, we would like to make our whole package seamless and hassle free from start to finish. In addition, we also think there may be potential for growth in providing a dedicated cloud platform for recording studios who want to store and send files during recording sessions.
I think we felt this mini-course was a good excercise that, while may not have been strictly related to the content of the program, helped us advance soft social skills like group collaboration and task assignment, market research, and managing realism and viability within our proposal.