My First Coffee Date? · Royalty Ronin

My First Coffee Date?

This is an update to my post a week ago "Is this Prospect Ronin Worthy?".

I mentioned last week that I reached out to the owner of a saas company that I am a customer of. It was real easy to do so because he does webinars every month profiling stocks that the users are interested in and I have been on a few of them live and now know him a bit since there were very few people on the webinars. I just said that I think all diy investors need his saas and that I would like to talk to him about spreading the word about his company.

The reason that I titled this "My First Coffee Date?" is because I really didn't act very Ronin like. I didn't act like an investor or the one choosing. However it wasn't all bad. I see the point of the coffee date is to determine if the prospect and their business is "Ronin Worthy" at this time. I think I did a pretty good job of getting information about what and how the business is doing. Researching the company beforehand I saw that they are still on Appsumo and another deal site selling lifetime deals. This surprised me since he was asking the current lifetimers to sign up as a monthly or yearly customer to help them from going under. I found out, not surprisingly, that most of their business and cashflow come from these lifetime deals, so they can't afford to stop them.

Like Travis and others said in my previous post, the company has to focus on UPGRADING their lifetime customers. The lifetimers only get the bottom deal and they do have two higher levels of service but right now there isn't much differentiating the tiers. The basic level allows you 20 watchlists, portfolios and alerts, where as the next tier allows you 100 of each. The problem is that 20 is enough for most investors.

The other opportunity that I saw for them to upgrade was that they were selling three different investing courses for $2k each. However I found out that they have basically shut this down because they are an investing software and their are restrictions on what they can do and these investing courses fall under that.

So the good news is:

1) I am not working with them. I am not trying to help save a company.

2) I think the owner could make a good partner if the business turns around.

3) The company knows that they have to upgrade their lifetimers and are adding quite a few enhancements to the software that will only be available to the higher tiered customers.

4) I survived my first coffee date, and may have even enjoyed it a bit.

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