Pälymorf started out as an idea created by two cousins in hopes of one day becoming a household name. Having a passion for technology, my cousin and I are avid consumers of Bluetooth electronics and electric bikes. Because of this, we decided to start our own business around March of 2021. We would always compete with who had the best smartwatch or smartphone and how it would track our workouts, so we knew we wanted to venture into the “smart technology” space. Additionally, we had strengths in different areas, and we realized that those strengths would complement each other in a business venture.

 

Trying to start a successful business is an endeavor that requires a lot of hard work, dedication, and persistence. It is a journey that is filled with challenges, setbacks, and obstacles that can make it difficult for entrepreneurs, like us, to achieve their goals. The struggle of starting a business can be daunting, but with the right mindset and strategies, it is possible to overcome the challenges and achieve success.

 

Our biggest challenge, initially, was finding quality products to sell and make a profit. Finding good manufacturers and suppliers of quality products became more difficult than we had anticipated, and we had to reevaluate our strategy. Additionally, trying to compete with mammoth companies like Amazon and Best Buy became a nightmare and we knew that we had to come up with a better strategy to find products that we could make a profit with.

 

Another struggle that we faced when starting was the lack of experience. Starting a business requires a diverse range of skills, including marketing, sales, finance, and operations. We had expertise in one or two of those areas but lacked experience in the others. With the learning curve being so high, it led to mistakes that cost the business a considerable amount of capital in the beginning, but we were able to learn and grow from it.

 

Many of our customers began asking for smartwatches that could monitor their health better as they engaged in physical activity. As a result, we started looking for smartwatches that were better and tracking workouts. And since we both are both into fitness, we wanted to help our customers achieve their goals and gain better insights into their health and wellness. That led us to take a trip to Austin, Texas for the Electrify Expo event.

 

We attended the Electrify Expo in Austin, Texas so that we could experience all of the electric vehicles from BMW and Mercedes, but we learned more than we intended. Though our initial idea was to show up and ride all things electric, we took note of company strategies and how people used the e-scooters and e-bikes. That event turned out to be an informational field trip for us. Our takeaway was that for us to penetrate the market, we had to be different and have our own product. So, our strategy transitioned into making being healthy, fun. We wanted to figure out how we could utilize the things that we think our customers would like to help them enjoy being healthy even more than they already do.  For those who want to be healthy but don’t necessarily enjoy being active, or can’t be too active, we wanted to make sure that they enjoyed it just as much as those individuals who turn it into a lifestyle. Pälymorf needed to be able to differentiate ourselves from others in the market to attract customers and stand out. This required a lot of creativity and innovation, which can be difficult to achieve, especially in thriving markets.

 

The way that we tried to achieve product differentiation was by creating our very own e-bike and incorporating features that our customers would find useful and fun, such as front and rear turn signals, a bigger motor and high-quality hydraulic brakes.  Additionally, we wanted to pair our bikes with other items that would make a ride more enjoyable. If you enjoy listening to music, we sell headphones, earbuds and speakers. If you enjoy tracking your heart rate while being active, we sell smartwatches that have that capability as well. And this is just scratching the surface.

 

Despite these challenges, we exhibit determination, perseverance, and have an evolving business plan so that we can overcome the struggles and achieve success. It is important for us to be resilient, adaptable, and willing to learn from our mistakes. By focusing on our goals and staying committed to our customers and our vision, we can turn our dreams into reality.

 

The fact that we can balance each other out will make us successful. We both know a great deal about what we are trying to do and where we see the business going. Because of that, we have split responsibilities, and we hold each other accountable for staying up to par. We cannot afford to be mediocre, and we hope that shows through the customer service and quality of our products. We strive to be exceptional, and we want Pälymorf to be a household name.