Thanks for your valuable input on my comments.
Here's the thing. bBooth lists several extremely successful businesses in the Internet sector as a de facto reason that they will succeed. They mention weChat, WhatsApp and others.
Why do they even mention those companies? They're not even competing in the same space for crying out loud - there are miles between the very fabrics of their products. They're not on the same planet.
And it's the first and worst beginners mistake you can make as a Technology developer. That "They succeeded, so why shouldn't we?" But it's an easy mistake to make as it sometimes seems Internet companies hit it big over night. Why can't I hit it big over night???
There are MILLIONS, and I have to emphasize exactly that - MILLIONS. Of great new technology products launched every year. Only a tiny tiny fraction of a fraction of that reaches those astronomical heights. Your chances are greater winning the lottery than launching a product which will impact society the way Google, Facebook, Snapchat has done. You need to know exactly what you're doing. It's not just putting a product out there and watch revenue flow in. You have to know EXACTLY - what you're doing and have a great feel for your product - Truly be in tune with the very fabric of your product and your users needs and habits for you to be an integral part of their daily life. And if you're not a part of their daily life - You're not going to join their league. Simple is that.
You absolutely have to know what leavers to push, pull, how to gain a psychological grip of your user - Play with their reward system, to generate addiction, get those endorphins flowing - And to increase certain tools of measurements, be in with the data, be able to translate the data into actions, have short feedback loops, reliable technology, I mean - FLAWLESS technology, design and a crystal clear offering and value outcome.
And then maybe, just maybe will you be cashflow positive in a couple of years.
I'm not saying this to be negative or criticize your investment at all - It's just the way it is.
In terms of my other investment, which you mention - EXOL is a great company, with a great product that people actually like (including me, since I found out about them while shopping for similar products). Sure they're chasing $7 mill in revenue. But I'm absolutely certain that's a realistic goal for them that will happen in the next few years. In terms of bBooth, they're dropping fantasy figures that you won't see for a billion years currently.
Yes - I will reach out to Rory this week. I'll try and pitch a nice solution to all of this - free of charge.
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