Fluid Business model
One of the key mistakes we made at ReviewScale after the first 6 months of launch is that that we didnot align the company’s strengths to solve real customer problems and also make money at the same time. We were losing money.The business model which our consulting business friend suggested was to use a mix of consulting and use the product at the same time. Unfortunately the consulting proved to be too biased. Biased in the sense that we were trying to sell our review management system along with our consulting.
This proved to be more of a big software company eg : Oracle approach.
Unfortunately, we are not there yet from a cost effectiveness standpoint. Our billing rates were too high from a small business standpoint.
Another mistake we made was that we were competing with the Search Engine Consultants in North America. Lead generation is first about being found and then making the prospective customer take a suitable action. So now we were competing with the SEO consultants in the space. Not a very profitable industry considering the fact that the results were hard to predict.
What does this mean ?
We are listening more. We are still in the lead generation business. We might be pulling out of the the online reputation management business. We are not sure. We are going to be Fluid without a specific focus for some time.
I guess being unsure is ok as long as we continue on the path to evolve and adjust.
New needs
Our existing clients need a way to manage their leads and integrate with an existing CRM software through their most used phone - the cellphone. They were ready to buy a new phone - iPhone or an Android phone to handle this.
Our response
We will be spending the next little while focusing on solving this problem because we believe it is an industry wide problem.
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