We’re Shaking Up Our Business Model, Here’s Why
We’ve focused on the B2B consultancy model for four years now, which while profitable, lacks scalability, and is high risk. You’re at the whim of clients and of economies; one client leaving can kill you. In a downturn, budgets for externals are the first to go, and that fact can destroy agencies.
After trying out several different business models with our clients, we were able to double revenue year over year, but once again, it is time to shake things up and continue our growth. Our consultancy has handled everything for our clients from creating initial product designs, to having our engineers build the product, to partnering with specialized manufacturers. Originally known as a design studio, we’ve also built a hardcore engineering department over the years, and have added business consulting services.
We’ve evolved our agency into a consulting, innovation, and product design firm. For us, design and engineering must work in tandem from day one. Until design touches the code, hardware, the user, and reality, you’re not going to have the feedback you need to improve and iterate the design.
And we are continuing that evolution by changing our focus from only B2B, to adding a B2C component to our business model. This was the original goal of Colorfy, to start with consultancy work and then build upon our own passion and have our own external voice, not dictated by our clients.
We’ve been honored to have to opportunity to work on and build products for major brands that have generated millions of dollars in revenue per year, and now it is time for us to get into the game, as well. The fact that we can create and build products from both a design and engineering standpoint, and have the ability to take an idea to market as a fully functional product makes us unique.
We will of course continue to work with our B2B clients, and help launch startups, but we will also focus on our own Internet of Things projects, starting off with our sustainable, connected clothing designs. Our goal is to build the next generation of garments by creating a line that will serve as the foundation of your wardrobe. We are in the process of designing and creating long-lasting, versatile clothing in a minimalist style, that blurs the line of business and casual while being made from the highest quality athleisure fabric. Our first product is a stylish, connected shirt that enables you to carry your daily essentials, and integrates personal health into your daily life through an AI powered tool that aggregates and stores a plethora of personal data, and integrates with your current fitness tracker. Other unique features include an optional camera accessory, think a Spectacles for shirts.
In addition to building the next generation of garments, our long term vision is to create the ultimate fashion technology platform that can be licensed by other companies to build their own smart garments.
We couldn’t be more thrilled to have your business and support and we look forward to sharing our products and more thoughts about our evolution down the road.