Update: 9/28/15
Update on how things are going,
Public directory:
Amazing well, we are so close to finish, we are actually a little head of schedule. depending on how this weekend goes we could possibly open the beta testing up early next week (don't' hold me on that), our developing team will be working over time to finish up small functionality. Creating a search feature isn't a small hurtle.
Our sales and marketing team, have begun to reach out to business and we are getting fabulous feed back.
Campaigns begin next week as well, This past weekend we attended a few small events, all went good.
The Revshare:
I spend some time this weekend talking to a few members who took the moment to ask me things about certain aspects of the current status of the revshare. I shared with them our vision and where we wanted to take the company. Hopfully they all saw the vision, and some asked me why not share it with the group, and at first i took the stance of 90-95% of our community is only here for 1 thing, and thats to make money off the revshare aspect. I figured only thing that's talked about is constantly how much everyone is making. And thats fine.
So allow me to share a little of what checklisting is and what we will do with it.
Checklisting is a online review site for local business. We cater to small business with a emphasis on give each business that personal touch. Business listing will not be filled with tons of ads or suggested similar business, we believe that takes the focus of the particular listing.
Anyone can come to the website and look for places to go, eat, shop, play, events and just things to do. currently there is a big focus on restaurant, *** we plan to expand out to allot more categories.
This is just a little piece of what we have in store for the company going forward, i won't go into details about profit potentials, but just know its profitable.
So my goal from the beginning was to always take checklisting, beyond just any revshare. Never did i start this without have a goal in mind.
Revshare may not have been the best way to go about it looking back, but what was done was done. and i've tried to maintain a non controlling type revshare allow everyone to do what they wanted with there earning rebates. some chose to build some chose to simple cash out every second they got the chance to, all fine in our book Either way it was up to everyone to do what they wanted.
The goal was to have everyone see the potential with the public directory and slowly ween off the revshare aspect. buy allow members to build there accounts, in turn those build accounts when it came to the directory profits, would earning a residual percentage from the profits of the public directory. this percentage would have been the value of a members account minus any withdraws made.
But like all good things...We know how it goes.
So that leads me to the current situation. Everyone may noticed there has been a few modifications to aspect of the revshare recently. This was all to protect the integrity of the platform till our directory was up and running. We where hoping for it to go long enough then gradually transition.
But drastic measures had to be taken.
I will be honest with the community, there has been in the past week more withdraws than there has been deposits. I won't sugar coat anything. The revshare is a revshare and that's just the nature of things.
Modifications:
Everyone will noticed that earnings have gone down some what. and as everyone that knows about a revshare platform should know, and for those that don't know is that this is a reflection of "sales" and activity within the community.
So as members do less compounding and more withdrawing that reflects. a great deal on the earnings.
So we have done 2 things.
1. Very few members build up to purchase pro and elite packs. focus has been on the smaller packs. so we have removed the elite and eventually the pro packs. Individuals that still have those adpacks will continue to earning till the time comes to mature.
2. We have raised the number of starter packs, in hope that this will encourage members to compound.
Everything that has happen we figured would eventually happen, but not at the speed that it happened at.
The public directory is our main focus and that is where we will transition everything over too eventually. Every member will be given an option before proceeding to continue with checklisting.
Thank you-
Alex Sengphong