Whether photographers, videographers or influencers: they all need technical equipment that enables them to create unique memories. Marcus Oswald develops the necessary technical equipment. His company, Pilotfly GmbH (PFY), builds high-quality image stabilizers, video lights, camera accessories and much more. The products are developed and tested in Augsburg. Production takes place in China. Since its foundation in 2015, the company has grown and the products are sold worldwide. Now there are new questions to be answered. For example, the question of how the exchange rate between the euro and the US dollar can be kept stable when the products are sold abroad.

Decision to become self-employed

But first a look back: when Marcus Oswald founded Pilotfly, hedging against currency risks was not an issue. He initially started as a sideline, built up an online shop and developed his first product. A three-axis gimbal system that stabilizes the hand when shooting video, ensuring a stable image. The early days were promising and just a few months after founding the company, he finally turned his hobby into a career. After more than 16 years in quality assurance at the Association for Electrical, Electronic and Information Technologies (VDE), he went his own way from then on.

However, the inventor from Augsburg would not have dared to take the step into self-employment without his time as an employee and without his wife. “I worked for VDE in Taiwan for five years and lived there. During this time I established many contacts with Asian producers. The most important support was and is my wife. She was born in Taiwan and it is a great advantage to have her by my side, especially when negotiating contracts with Chinese companies,” he says. Corporate customer advisor Steffen Schmidt is also a firm partner of Pilotfly. "It's just great fun to work with young, successful companies like Pilotfly. We can support young companies at Commerzbank very well with our offers, also with their international business,” he reports.

Customer acquisition via social media

However, customers can also rely on Marcus Oswald and his 25 employees. The Pilotfly products are popular and now known all over the world. In the beginning, Marcus Oswald primarily used social networks to acquire customers. He made the company known through advertising on Instagram and Facebook and sent his products to influencers. In addition, he established contacts with various "resellers" (editor's note: dealers who sell goods to their own customer network). The Augsburg company now sells around 45 products. From the patent-protected 45-degree gimbal system for stable videos to credit card-sized RGB lights for individual lighting. These are the current top sellers.

Challenges: Sanctions, Suez Canal and Corona

However, Marcus Oswald and his colleagues are currently experiencing first-hand that a top seller does not always have to be one. There are supply bottlenecks for wood, cables and electrical components. This is partly due to the trade disputes between the USA and China, but also to the Suez Canal, which was blocked at times. “Our HDMI transmitter Eagle Eye was our bestseller. The main component is a chip that used to cost five dollars. Now it costs a multiple. This is the death knell for the product. Fortunately, we have a broad product portfolio,” explains the entrepreneur. In addition, the Corona crisis is a major challenge for the industry. Many photographers have been struggling with a drop in orders since the beginning of the pandemic, he adds, but is still optimistic: "We expect incoming orders to normalize at the beginning of 2022".

The Commerzbank on the side

Then Pilotfly should return to the growth path. There are already new ideas for this. The company has had its own factory in the Chinese metropolis of Shenzhen since 2016. If possible, this should not remain the only one. "We would also like to produce in Europe and make ourselves less dependent on the Chinese market," says Marcus Oswald, adding: "But the focus is initially on other topics. Protecting myself against currency fluctuations and improving my accounts receivable management, for example. Large customers usually pay on time, but it is difficult to catch up with the many small customers who are late in paying”. For corporate customer advisor Steffen Schmidt, this is an easy task: "We will definitely find a tailor-made solution for Mr. Oswald and Pilotfly". Marcus Oswald has no doubts about that either: “Everything has always run smoothly with Commerzbank!”