Earlier this week I offered some reasons GoPro could be a game changer. It's rare for a hardware company to reach $1 billion in annual sales, as the camera-maker just has; it's even more rare for a company of that size to make a profit (as GoPro also does).
The question now is whether founder and CEO Nick Woodman can successfully expand the company from here. GoPro cameras are a hit within the niche action sports community, and they've begun to catch on in what's called the pro-sumer category: that narrow middle ground between consumers and professionals where tinkerers and geeks pay a premium for high quality.
Read MoreWho is Nick Woodman?
So what could keep GoPro from fulfilling its potential? Three things, mainly:
1. The lack of software and hardware platforms.
One of GoPro's biggest advantages right now is its accessories. These mounts, cases and related items make it easier to capture footage in the way you want, whether that means mounting it to a crossbow, a surfboard or a Honda. GoPro's even grown popular enough that there's a homegrown community of tinkerers who are making their own GoPro add-ons. Visitors to the annual National Association of Broadcasters have been picking them out.