Reference no: EM132946727

Describe two sources of business opportunity that enabled Brian Dyskin to establish his business.

The RalBar^TM is an easy-to-play electric guitar developed and produced by a small business called Dyskin Guitars. The RalBar^TM consists of three strings and a specifically designed fretboard (finger board), and it takes minutes to learn to play the chords for hundreds of songs with just one finger. Dyskin Guitars' target market is people who would like to play guitar but do not have the time or feel they cannot learn to play a conventional (normal) guitar.

The RalBar^TM was designed by Brian Dyskin who combined his delicate manual skills as a dentist with his passion for luthiery (making stringed instruments). He had many ideas for different guitar designs but in 2010, following his attendance at the Melbourne Guitar Show, an idea came to him after trying to play a stick dulcimer (a stringed musical instrument) and having difficulty navigating the fretboard. This gave him the inspiration (idea) to develop a new type of guitar that was more versatile and easy to play. After experimenting with many prototypes (models), Brian developed the RalBar^TM and received an international patent (invention) for the unique fret layout.

In an attempt to find investors to enable him to develop this innovative instrument, Brian appeared on the TV show Shark Tank in 2015. While none of the Shark Tank entrepreneurs chose to invest in the business, the show generated interest in the RalBar^TM and people contacted Brian via his website, which resulted in numerous orders. The guitars are produced overseas and shipped to Australia.