Prompt Cast
The Story of Springfree Trampoline: From Invention to Global Success
TLDR New Zealand engineer Keith Alexander and Canadian businessman Steve Holmes collaborated to create the world's safest backyard trampoline, Springfree, by focusing on safety, innovative design, and strategic partnerships with Costco, overcoming financial challenges and setbacks along the way.
Timestamped Summary
00:00
The episode discusses how a New Zealand engineer and a Canadian businessman collaborated to create the world's safest backyard trampoline, known as Spring Free.
05:47
Keith Alexander, an engineer from New Zealand, invented a safer trampoline, while Steve Holmes turned this invention into a commercial success.
10:43
Keith Alexander created a safer trampoline after realizing the dangers associated with traditional trampolines.
15:38
Keith Alexander designed a safer trampoline by replacing the steel frame with an inflatable ring and experimenting with springs and canvas.
20:17
Keith Alexander involved university students in creating a new trampoline design using fiberglass rods and canvas, which proved more promising than the inflatable version, leading him to consider commercializing the idea.
24:55
Keith Alexander received feedback from a company interested in his trampoline design, leading to the creation of a 10-foot version that could be disassembled, tested, and packed for shipping, eventually forming a relationship with a fiberglass company in New Zealand to build prototypes for customer trials.
30:19
A successful trampoline prototype leads to Keith Alexander and Steve Holmes discussing the details of the invention, with Steve offering $10,000 to have the trampoline shipped overseas, marking a pivotal moment in their business journey.
35:44
Keith Alexander and Steve Holmes work on creating a safe spring-free trampoline enclosure, focusing on soft materials and innovative design principles to differentiate their product in the market.
40:42
Keith Alexander and Steve Holmes introduced their innovative and safe Springfree Trampoline design at the Super Show in 2004, initially securing a significant order from Costco Canada and later transitioning manufacturing to China to reduce costs.
45:41
Springfree Trampoline faced financial challenges but survived and expanded globally through partnerships with Costco, despite setbacks like the CEO's sudden disapproval of their product.
51:10
Springfree Trampoline strategically opened retail stores near Costco locations, leading to increased sales and profits, despite facing setbacks when Costco initially pulled out.
56:25
Keith Alexander's design of the Springfree Trampoline focused on safety and statistics, leading to increased sales and a premium product with a 10-year warranty.
Categories:
Business
