When we think about evaluating an opportunity, we tend to think first about doing online research and writing a business plan. However the comfort of researching from home and the huge amount of data available on Internet can be misleading. In particular, it can lead us to underestimate the importance of primary data - e.g. data collected first-hand from the persons themselves (customers, suppliers, etc.).

Tired of spending hours at a time in front of my computer, I decided on impulse to visit a few e-bike shops in Vancouver. It proved quite interesting, because I was able to collect data that are usually not readily available online. I spent half an hour writing down general questions that I would like to ask to the shop owners. The questions allowed me to understand their positioning and their position in the supply chain.

Whereas the components of positioning are quite visible (price, store location, products and services, marketing, etc.), the supply side of the business is much more obscure. I am mainly interested in knowing where the retailer buys from, if he customizes the e-bikes locally before selling them (or even manufactures some parts), if he has some exclusivity deals, and more importantly whether he uses the OEM brand or his private brand.

E-Cycle store in Vancouver

Actually, I unexpectedly gathered other interesting insight from shop owners, such as how they select their suppliers in China and how to navigate Canadian bicycle/motorbike regulations. I believe that I would never have found this information on Internet, so this 2-hour city trip proved indeed very useful.

Additionally, meeting with e-bike entrepreneurs in person and touching (and driving!) the products boosted my motivation. Internet is great, but it cannot replace real-life contact.