Ann: May 2017 Operational Update, page-158

Brassmad

Please read the post I wrote when asked further about it, where did I try to discredit Airselfie?

Please read the highlighted part in relation to Airselfie.

Agenda? ...and actually not a hidden agenda but fully disclosed past relationship an )if any)_ with Airselfie.

I didn't have to do that, I have no legal requirement to do so, but I did to be transparent, perhaps something IOT can take a leaf out of, what do you think?

1. In the market of selling/implementing new ideas/building businesses and finance online.
   
   Never been in the drone space per se, but for mine it's just another product, yes we chatted with Airselfie a while back about their plans after kickstarter, and sales market/sales going forward. We did pass in the end, but there were many reasons, not all Airselfie related.
   
   Knowing more about selfie drones and the market now, it seems to have become congested very quickly, and will end up IMO being a case where the seller needs to keep reducing cost and/or sale price to gain any market traction.
   
   Its a bit of a conundrum product I must say.
   Drone buyers don't want to buy cheap selfie drones.
   
   
   
   I see small selfie drones as a little bit like small money lending.
   
   Payday loans
   I give you $500
   You owe me $700
   You cant pay me $700
   So my costs continue to mount chasing you for the money back via debt collection.
   **The business up front is reliant on how good your backend is, your debt collection procedures., that is where profit is won or lost.
   
   
   Selfie drones
   You give me $300
   I give you a selfie drone
   You try to work out how the hell this thing collaborates, try to read the instructions,
   The product either doesn't meet your satisfaction, you lose it, smash it, its faulty, or all of the above, either way its now coming back to me to fix, replace, spend time communicating to you, the list goes on.
   
   So my costs continue to mount trying to rectify warranty issues or other continual issues instead of selling.
   **The business up front is reliant on how good your backend is, your ability to rectify issues quickly and the most cost effective is crucial to survival, other wise prices need to come down and costs increase in the backend.
   
   This si why when IOT take a week to respond to a client's needs via Amazon I get so irate, as I've looked into the future and know this part of the business is almost more crucial than the selling of the product.
   9
   ReportQuick replyReply with quote
   IOT (ASX)
   Price at posting: 2.5¢
   Sentiment: Sell
   Disclosure: Not Held