I long held the same belief as you, that we needed a partner in order cover the costs of marketing and to use their distribution channels in order for our products to have a higher rate of success, without it we would most likely fail.
However I have spoken with Steve and spoke on this exact topic, he was very confident in his ability to market the product via influencers and emphasised the fact that besides the royalties that the influencers get, we keep all of the profits. Even the likes of P&G are now utilising influencers and celebrities, it’s a totally new world for marketers. I believe management have long seen this, in fact it was the basis on which they created their successes and are now creating a business model around it, the goal is to create 5 business units, IF this roll of the dice bears fruit and even if we get 2-3/5 blockbuster products just imagine the affect on the SP as opposed to going with a partner who drip feeds our royalties.
I don’t argue the fact that goal posts are being shifted but management are indeed creating one hell of a team, and a new business entirely with OBJ, looks like they Cleary see the potential and want the entire pie, not a slice, especially with the FULL TIME employment of Mr.Peros who steered Foreo to nearly $2bill in sales within only 5 years, this excites me.
This is how I see the current situation and I will be grilling management on timelines surrounding Mr.Peros I would implore everyone to do the same. Transparency is very much lacking indeed
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