Trying A New Business Model

when you're thinking about creating an Innovative and new business that doesn't always mean necessarily that the product has to be new and Innovative perhaps it can be the business [Music] model you know this story about the the fisherman who meets the American executive and the American Executive tells him you have to fish more fish so that you can buy more boats then you can get rich and then and the fisherman asks him what will I do when I get rich he tells him well you can take a vacation and go to the beach to fish and it's I always have the same conversation with Orie my client who is like working 24/7 and he never sleeps and he's just like working his ass to make his startup like a billion dollar company and that's fine I I mean if that's what he wants that's that's great but he never he can always imagine that after he sells his company for a billion dollar he's going to take a break and he's going to go to the beach and he going to exercise and sleep and I'm telling him dude nothing is ever going to change if you work your ass right now you're going to work your ass after you have a billion dollar company as well and and I'm trying to do the opposite I'm trying to live my life right now as if I have a million dollar even before I have so I go to the beach and I take vacations and I sleep because I know that nothing is going to change and the way that you live right now is the way that you're always going to live so doesn't mean that I don't care about the future or you know work hard to try to create a better future of course I am but I'm I'm keeping it in balance you know who knows what's going to happen next week next year if we're even going to be here so I'm really trying to live in the moment and the last few weeks they been really busy and even though I've been saying I'm going to you know take it down a notch last night the client that I've just presented to yesterday called me and said we really like your presentation and we we are heading to to the states next week so we need the presentation and website ready this week so I guess the craziness isn't going to stop I'm still going to keep working really hard in the upcoming days and weeks but again this late summer day is not going to be be here again so I really want to take an hour to enjoy it the water is just wonderful and I have a good time before I'm heading for another crazy day [Music] all right so I'm back from the beach took a shower and getting ready for a day full of meetings but before I kind of want to share with you our progress with prospr so I told you a couple of days ago we have decided to kind of change the business model so I want to talk a little bit about that so most of our competitors or other services available everybody's going with the kind of the subscription model where you have to pay I don't know $20 or a certain amount that you you pay that every month no matter how much you use the app and from us talking to you know customers and you guys we know that people usually send one or two proposals per month and sometimes they don't send any of them so it kind of feels weird to pay at least for me you know certain amount every month even if you're not using an app it's not like Spotify which I use heavily every every day or I don't know my Adobe Cloud so I don't feel right charging a subscription model so we've tried the the way that it works right now in the beta is that we charge per credit so that you get a one credit free when you start and then if you want to create a new proposal you pay $10 for another proposal we've been getting some feedback that it does not allow people to kind of experiment and try a couple of more um proposals before kind of realizing the value and I've been thinking about that and I kind of realized that kind of the magic moment and the real value of a proposal tool is when the client actually signs your proposal that's when it really means that the tool was valuable enough that your client signed it by the way this week two clients actually signed proposals using Prospero so that's very exciting for us um so what I wanted try is to try to make it kind of free as long as you can send how many proposals you want and if your client signs it then you kind of pay a fee which is a bit higher perhaps $20 um only if your client actually signed the proposal so if you know that you've just sealed a I don't know $3,000 deal then $20 makes sense and paying that only if you know that you're about to receive $3,000 it kind of makes sense so I want to show you what I did so with the new flow that we're developing right now we're going to remove the credits you'll be able to send as many proposals and create as many proposals as you want but if a proposal was assigned then the next time you're going to log into uh prospr it's going to be the dashboard is going to be locked and you're going to have the signed proposal fee and we're going to tell you that um since this example proposal was signed you're going to have to pay $20 and you have to pay $20 if you want to continue using the product so we're not even forcing you to pay the money you're only going to pay the fee if you want to continue and send more proposals I feel this kind of gives the the feeling that we really trust our product and that we believe it will do a good job for you we've just proved that it did a good job for you and you you only pay if you want to continue using it so I've been asking some the better testers about it and they seem to be happy with it even though it's kind of a weird business model I I haven't really used any service that uses this business model so it's kind of it's a bit scary to I don't know if people will understand or like it but we're going to try it I'm going to have another customer interview right now and I'm going to ask him about it and then a day full of meeting exciting [Music] he [Music] turn so today is basically over but I just had a meeting with the client for the VC firm I just presented to yesterday and they're pretty you know urgent about their uh presentation that they need for kind of tomorrow so I'm going to try to do that for them today but first I'll spend the afternoon with DOI perhaps taking to see my mother and then do it later on tonight don't like working nights but uh I've been to the the beach this morning so I can't say it wasn't a great day I will catch you guys tomorrow [Music]