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Broader pastures for TracMap

The agricultural GPS company is spreading its good news around the globe

Monday, April 19 2010 || Cool company || BY Caitlin Sykes

He sold his house and other assets to fund initial research and product development, building three proof-of-concept prototypes. Two were installed in the trucks of local contractors; in October 2005 he put the third in his own car and drove around the country talking to fertiliser spreading operators. His research, he says, confirmed the need for a purpose-designed device suitable for driving trucks safely and accurately on rolling hill country, and gave him a clear idea of the features required. The first commercial units were installed in 30 trucks in October the following year.

It hasn’t been all plain sailing. Due to a range of factors, for example, some of the early units stopped working properly soon after installation. Orders from potential customers stalled; cashflow faltered.

Thankfully the drivers loved the product when it was working — and the problems weren’t too widespread, says Brown. The situation ultimately worked in the company’s favour because it forced a redesign that resulted in a better unit, he says, and fronting up helped the company build a reputation for fixing problems.

With limited cash, speed to market and the quality of the company’s strategic decisions were all the more important. Brown says having access to strategic advice as a company in Dunedin’s Upstart business incubator was vital. The decisions early on to appoint a board and engaging Christchurch-based, hi-tech industry veteran Phil Holliday as a mentor were also key, he says.

Holliday says Brown’s deep understanding of the market has been an advantage. “I’m convinced companies that start off with a good knowledge of the market and an understanding of what those niche opportunities are in the market have a far better chance of doing well, and Colin is one of those.”

Brown says future TracMap growth is focused on growing its core market of New Zealand pastoral farms from its current position of 1000 units to 10,000 in the next five years, and developing markets for its agricultural aviation and aerial firefighting products through its New Zealand and North American distributors.

It also sees significant opportunities here and in Australia among utility services. And finally, work continues on the long game of scoping new market opportunities.

Balancing that long-term outlook with the more immediate demands of a fast-growing business is a challenge, admits Brown, but he’s philosophical.

“While we get frustrated at times about the day-to-day problems we strike, it seems, overall, we’re making incredibly rapid progress.”

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NZ Hi-Tech Awards Finalist
TracMap is also a finalist in the NZX Emerging Company category for the 2010 NZ Hi-Tech Awards - winners will be announced on Friday 7th May at a Gala Dinner Awards function at the Langham Hotel in Auckalnd.
Posted by Swaytech at 01:18 on April 19, 2010

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