Today's forecast calls for Blue Sky
"I hope that our shareholders and our stakeholders recognize that we’re here as guardians of your investments and these policies are important, and, unfortunately, when they are enforced, these are the results."
Opening of the movie reminds me of OTC investing and uplisting
"We had a combination of clients impacted by COVID that delayed or cancelled scheduled launches which would have triggered revenue recognition for us. We had clients that went out of business, presumably, due to COVID, and we had a client decide to save money and not renew and they currently have no app for their sales people, and another go to a far cheaper vanilla app lacking all of the features sales people have come to rely on in our app. We assume these are all COVID-related and we expect some of the larger ones still in business will return as clients , especially drawn by our new verbLIVE and that attribution feature that I spoke about a minute ago."
That was what I was thinking too before Rory ever said that
That one company moved to another app that was created by a direct sales person's husband. She's a nurse during the week and a mom with kids and a side gig in a MLM for 5 years. Husband zero experience in direct sales.Kudos for them for starting up a company. It's going to be a bumpy journey.
They got a little bit of VC money and what appear to be two customers
It's not sustainable, especially given what we know about the Direct Sales industry
Their free version you can have 5 customers. That is it. How can you grow your business with just 5? Next level up is $8.99. Enterprise you have to call.
Remember me posting about Krato before? They had a rough go of it so could give the other new company some advice
https://krato.com/
I thought they went out of business as but I see they have a new news release in Jan so there is still a pulse but look them up on linkedin. There are just a few employees left, unless they didn't update their account yet
https://www.linkedin.com/company/krato/people/
Actually thought it was a good company. You know they have 'Over 1.4 Million Lines of Code! '
A number of their customers came over to Verb
Funny their news is...
"Krato is thrilled to be recognized as the number two app provider by Social Selling News "
If Krato is struggling, how will this new company survive?
I was watching a training video from the other new company I mentioned at the beginning and you have to find a computer to sync your contacts
Oh and you can only do it with Chrome BTW. What kind of app is that?
Going to be hard to find customers, but there is plenty of room in this business anyway
I think they have 40ish employees
That is not sustainable, but we'll see
Was watching a video last night with Rodger Smith from Direct Sale & Steve Jamieson. Really like Rodger Smith and didn't know anything about Steve Jamieson until yesterday. Smart guys.
https://www.youtube.com/watch?v=fPj8nQHXVGE&t=346s
Steve was talking about the industry and how its been slow to adapt. McKinley has said this a number of time as you know as well.
A couple of interesting things he did say
One was the unemployment checks last year. For a lot of people, that check was more than people were making at their last job. He mentioned Uber drivers as an example. I know people that were offered to come back to work and they said no as they liked that check.
Do you think that had an impact on the Direct Selling industry?
You betcha
Do you think that had an impact to vendors in the Direct Selling industry?
You betcha
The other thing he said is people are making more money on Amazon and Shopify than they can in Direct Sales.
They are losing distributors over to those companies
I never thought about it until he talked about it
Something to chew on this weekend...
That puts Verb in a really nice position having solutions for those sellers
"I hope that our shareholders and our stakeholders recognize that we’re here as guardians of your investments and these policies are important, and, unfortunately, when they are enforced, these are the results."
Opening of the movie reminds me of OTC investing and uplisting
"We had a combination of clients impacted by COVID that delayed or cancelled scheduled launches which would have triggered revenue recognition for us. We had clients that went out of business, presumably, due to COVID, and we had a client decide to save money and not renew and they currently have no app for their sales people, and another go to a far cheaper vanilla app lacking all of the features sales people have come to rely on in our app. We assume these are all COVID-related and we expect some of the larger ones still in business will return as clients , especially drawn by our new verbLIVE and that attribution feature that I spoke about a minute ago."
That was what I was thinking too before Rory ever said that
That one company moved to another app that was created by a direct sales person's husband. She's a nurse during the week and a mom with kids and a side gig in a MLM for 5 years. Husband zero experience in direct sales.Kudos for them for starting up a company. It's going to be a bumpy journey.
They got a little bit of VC money and what appear to be two customers
It's not sustainable, especially given what we know about the Direct Sales industry
Their free version you can have 5 customers. That is it. How can you grow your business with just 5? Next level up is $8.99. Enterprise you have to call.
Remember me posting about Krato before? They had a rough go of it so could give the other new company some advice
https://krato.com/
I thought they went out of business as but I see they have a new news release in Jan so there is still a pulse but look them up on linkedin. There are just a few employees left, unless they didn't update their account yet
https://www.linkedin.com/company/krato/people/
Actually thought it was a good company. You know they have 'Over 1.4 Million Lines of Code! '
A number of their customers came over to Verb
Funny their news is...
"Krato is thrilled to be recognized as the number two app provider by Social Selling News "
If Krato is struggling, how will this new company survive?
I was watching a training video from the other new company I mentioned at the beginning and you have to find a computer to sync your contacts
Oh and you can only do it with Chrome BTW. What kind of app is that?
Going to be hard to find customers, but there is plenty of room in this business anyway
I think they have 40ish employees
That is not sustainable, but we'll see
Was watching a video last night with Rodger Smith from Direct Sale & Steve Jamieson. Really like Rodger Smith and didn't know anything about Steve Jamieson until yesterday. Smart guys.
https://www.youtube.com/watch?v=fPj8nQHXVGE&t=346s
Steve was talking about the industry and how its been slow to adapt. McKinley has said this a number of time as you know as well.
A couple of interesting things he did say
One was the unemployment checks last year. For a lot of people, that check was more than people were making at their last job. He mentioned Uber drivers as an example. I know people that were offered to come back to work and they said no as they liked that check.
Do you think that had an impact on the Direct Selling industry?
You betcha
Do you think that had an impact to vendors in the Direct Selling industry?
You betcha
The other thing he said is people are making more money on Amazon and Shopify than they can in Direct Sales.
They are losing distributors over to those companies
I never thought about it until he talked about it
Something to chew on this weekend...
That puts Verb in a really nice position having solutions for those sellers
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