Fourteen years ago, I was working as a litigator at an international law firm in Manhattan. These days, I spend my time managing my equine supplement company, Equine Elixirs. Every day is different, but you can generally find me researching and testing new product ideas, talking to customers about their horses, and conferring with engineers about designing custom machinery for our growing line of products.
In 2012, my husband and I traded the skyscrapers of New York City for the sand and surf of Palm Beach. Close proximity to Wellington gave me the chance to resume riding, which I had put on hold since law school. Though I wasn’t looking to buy a horse (isn’t that what horse people always say?), buy one I did. Enter Bella. I had no idea at the time how she would change my life. Sensitive as she is, it’s not surprising that she needed to be treated for ulcers, a common problem for most competition horses. After treatment, I felt that existing gastric health supplements didn’t work, were too expensive, and had lengthy lists of ingredients, many of which seemed unnecessary and I couldn’t even pronounce. I guess that was my “lightbulb” moment. I wondered if I could create my own product.
I Learned a Lot By Starting a Business from Scratch. I Learned Even More from Horses.
While still working full-time as a lawyer, I started a year-long journey of researching, testing (with Bella as the initial subject), soliciting feedback from other riders and trainers, and obtaining the necessary certifications to run my business. Shortly after the successful launch of Ulceraser, additional product ideas were starting to form. That was when I left the legal world, plunging headfirst into the world of equine supplements, and have not looked back.
Ulceraser was created because I had a need for a product that didn’t exist. The journey from that initial light bulb moment to where I am today hasn’t always been easy, but it has been rewarding. If you are considering turning your own equestrian-related product into a reality, here are a few things I learned along the way.
Learn What Buyers Want
An important aspect of creating a new product is to connect with as many horse owners and riders as you can. Is there a need for a specific type of product that’s not available? That was part of my thought process when I formulated Ulceraser. One of the first things I do when brainstorming a new product is ask horse people what supplements they are currently feeding. In other words, what body systems are they focused on for their horses? It’s important to know what people want. I also find it valuable to ask clients what they like and don’t like about existing products, so I can keep these factors in mind when creating my own.
The equestrian business is highly competitive. For new products to catch the eye of potential customers, they need to be unique and stand out. Don’t be a copycat.
You can employ this same tactic for any type of product you might have in mind. For example, if you have an idea for a unique type of horse boot, talk to other riders and find out what they like and dislike about different boots they’ve used. Their input will be useful as you start to fine-tune the design of your product.
Be Unique, Be Memorable, and Stick to Your Mission
The equestrian business is highly competitive. For new products to catch the eye of potential customers, they need to be unique and stand out. Don’t be a copycat.
When I began creating my supplements, I wanted to differentiate them from the countless other equine supplements on the market. This is where my mission came into play. I wanted Equine Elixirs products to be effective, affordable, all-natural, and appetizing for the horses. I wanted to avoid long lists of artificial ingredients that horses don’t like and won’t eat and raised the price of the product, all common problems in other products. Working with as many whole food-based ingredients as possible increases the absorption of ingredients, the effectiveness of the product, and the horses enjoy eating it.
Researching and testing are two critical aspects of our product development, but we don't celebrate until we know we have made a difference for the horses. That’s why feedback is so important—it’s how we gauge the success of our products.
A fun way to distinguish yourself from competitors is through something as simple, but as important as, your product name. We get a lot of feedback on our product names—Ulceraser, Positude, Tidbits, Calmakazi, and Immunox (spoiler alert—three more are on the way soon). People think our names are unique, funny, and memorable, which is great, because that’s the point. It can take months to come up with the perfect name. I usually write down every word I can think of that is synonymous with the type of product we are creating, and it snowballs from there. Another thing to consider is that the more creative the name, the easier it is to get trademark protection, which we secure for all product names.
Listen to People at the Top of the Sport
A critical step in developing a new product is requesting input from an assortment of potential buyers. For example, if you’re working on designing a new bridle, do you envision it being worn by horses in multiple disciplines and stages of training? Do some networking and get a wide variety of riders to try it on their horses. Their insight about the product will help guide you with any adjustments to your design.
One thing that I find useful is giving samples of new products to existing customers to test. Top riders and trainers have many types of horses in their training programs, and they can provide valuable feedback on how different horses respond to the same product. For example, a young horse just beginning his career may react differently than an older show horse in his prime. Researching and testing are two critical aspects of our product development, but we don't celebrate until we know we have made a difference for the horses. That’s why feedback is so important—it’s how we gauge the success of our products.
Know and Follow the Rules
When you have your finished product and are ready to go to market, just remember that there are many rules and regulations governing different business sectors. It is important to know what rules apply to your business. Make sure you have the necessary licenses and certifications to run your company. Some of these steps can seem overwhelming at first, but if you stay focused on your mission, seek help and advice when you need it, and emphasize the unique aspects of your product, you will be well on your way in the equestrian community!
Read this next: I Changed My Career So That I Could Afford to Ride the Way I Want
Feature photo by Giana Terranova. Inset photos by Jump Media.