Job seekÂers should be focusÂing on online video as the next tv netÂwork. As the four major TV netÂworks conÂtinÂue to announce ratÂings declines the sources of new online video conÂtinÂue to grow. YouTube has comÂmitÂted in excess of $40 milÂlion dolÂlars to indeÂpenÂdent proÂducÂers to creÂate proÂgramÂming and has added live streamÂing and subÂscripÂtions as they build their 1 bilÂlion plus user platÂform. CurÂrentÂly over100 hours of video is uploaded to YouTube every minute.
In today’s digÂiÂtal world everyÂone can be a producer.
With the introÂducÂtion of a wearÂable video camÂera, MeCam, the marÂket conÂtinÂues to expand.
MeCam, curÂrentÂly only offered online, is shortÂly to be workÂing on disÂtriÂbÂuÂtion deals with major retailÂers and expects to see sigÂnifÂiÂcant disÂtriÂbÂuÂtion increases.
We caught up with Drew MarÂtin, the invenÂtor of the MeCam, and learned about his plans for this newÂly released product.
You can lisÂten to Drew’s InterÂview here and read it below:
Roy: My name is Roy WeissÂman from MediaJobs.com. Today we are speakÂing with Drew MarÂtin from MeCam. MeCam is the hands-free wearÂable video camÂera that capÂtures your life; live life to the fullest and let MeCam capÂture it for you. WelÂcome Drew.
Drew: Thank you.
Roy: How are you this morning?
Drew: I am great thanks. How are you?
Roy: What made you start this serÂvice? When did you start it? Where did this come from? Did you have any expeÂriÂence? Tell us a litÂtle bit.
Drew: Just as with any kind of entreÂpreÂneurÂial endeavÂor, this is not where I enviÂsion myself five years ago. EveryÂbody kind of has their own path to where they end up. I just turned 30 so I am pretÂty young, but I feel like I have gone through a lifeÂtime of careers, espeÂcialÂly with everyÂthing that has hapÂpened in between gradÂuÂatÂing colÂlege and now as far as finanÂcial world and atmosphere.
OrigÂiÂnalÂly out of colÂlege I was a finance perÂson and workÂing in bankÂing, and then it wasn’t fulÂfillÂing for me per se, and it wasn’t what I found to be my callÂing or what made me hapÂpy. I did some othÂer difÂferÂent career paths but someÂhow I endÂed up investÂing into a spyÂware comÂpaÂny, so spyÂware such as small camÂeras, nanÂny cams, which are is a pretÂty large market.
From there I thought this techÂnolÂoÂgy is very cool; howÂevÂer, it is realÂly being pigeonÂholed into only marÂketÂed as spyÂware, which kind of has a creepy conÂnoÂtaÂtion and is not realÂly acceptÂed by the mainÂstream public.
I thought why don’t I take this techÂnolÂoÂgy and put it into someÂthing that is a litÂtle bit more acceptÂable to the pubÂlic. That is how MeCam was born. It took me about a year to develÂop, and I launched it in JanÂuÂary 2013, and six months down the road, thankÂfulÂly, it is sucÂcessÂful and peoÂple are reactÂing well to it and buyÂing it, and we are getÂting users every day and here we are.
Roy: Did you have a backÂground in camÂeras or optics or anyÂthing like that?
Drew: No, not at all. I think that we are very lucky to live in a day and age where you don’t have to have experÂtise in a field to necÂesÂsarÂiÂly go into it and start a busiÂness out of it. With the interÂnet today, with the globÂal marÂket place, I think that you are able to eduÂcate yourÂself about anyÂthing you want to do, and if you have the gusÂto and the motiÂvaÂtion, you can go and do it.
No, I didn’t have any backÂground in camÂeras or techÂnolÂoÂgy. Like I said, I came from a finance backÂground. After I did finance, I had a couÂple of retail stores in ManÂhatÂtan, which taught me about what it takes to run your first busiÂness, more so about being preÂpared for the unexÂpectÂed if you can.
Every litÂtle busiÂness that you do, you learn someÂthing new. You take that lesÂson and move on, whether you sucÂceed or fail but no backÂground at all in techÂnolÂoÂgy. I eduÂcatÂed myself and I conÂsidÂer myself not an expert but very familÂiar with this space now.
Roy: Do you think of MeCam as in the camÂera marÂket or in the wearable’s, the techÂnolÂoÂgy wearable’s market?
Drew: It can go into both. It is not a prodÂuct that I feel peoÂple are going to go into a Best Buy and they are going to go look for camÂcorder or point and click or point and shoot camÂera. It is not meant to necÂesÂsarÂiÂly replace othÂer camÂeras, but it is supÂposed to be in addition.
I realÂly think that it will be part or if part of this new wave of wearÂable techÂnolÂoÂgy, which I think we are going to see a huge proÂlifÂerÂaÂtion of in the next two to four years, espeÂcialÂly with the launch of Google Glass and othÂer wearÂable techÂnoloÂgies such as smart watchÂes and things of this nature.
Roy: Now how would you say from a finanÂcial perÂspecÂtive, what would you say the size of the marÂket is for a prodÂuct like this?
Drew: It is realÂly hard to gauge. As with any new marÂket, it is hard to realÂly gauge it. I think the posÂsiÂbilÂiÂties are realÂly endÂless because there are a lot of pracÂtiÂcal appliÂcaÂtions for it. When I launched this prodÂuct, I had a totalÂly difÂferÂent demoÂgraphÂic enviÂsioned and uses; I thought it was more for a young perÂson to take their life and go to conÂcerts and fesÂtiÂvals, stuff like that.
HowÂevÂer, since I have launched it, peoÂple have always been reactÂing well to it. PeoÂple have been using it for work a lot in their difÂferÂent fields, from real estate agents tapÂing walk-throughs, to peoÂple in sales recordÂing them, teachÂing their employÂees, etcetera. There has realÂly been a lot of uses for it.
HowÂevÂer, just to give you an examÂple, a comÂpaÂny like Go Pro, which is about sevÂen to ten years old, in between there. It got evalÂuÂatÂed at around $2 milÂlion, with FoxÂCon investÂing in them.
If you want to go with that, that will give you a betÂter idea of the marÂket. That is a litÂtle bit of a bigÂger camÂera and highÂer price point, but that is now our company.
Roy: What is Go Pro? Can you explain that for everybody?
Drew: Go Pro is a, you can also say that it is a wearÂable camÂera. It is a camÂera that has been catered to extreme sports — surfÂing, snowÂboardÂing, skiÂing, mounÂtain bike ridÂing, things of this nature, and auto racing.
They have a whole bunch of difÂferÂent kinds of fitÂtings, it is a small camÂera, small high guard camÂera, and it also has a lot of difÂferÂent mounts, so you can now mount it to your surfÂboard, and you can mount it to your helÂmet, and you don’t exactÂly wear it like a MeCam on your body or clothes, but there are a lot of difÂferÂent mounts. You can wear it on your head if you like.
They were kind of an innoÂvaÂtor of this wearÂable camÂera techÂnolÂoÂgy, but they realÂly focused more on an extreme athÂlete and sport demoÂgraphÂic, whereÂas with MeCam I am more focused on the averÂage consumer.
Roy: With Go Pro, how much does that sell for?
Drew: They are between $300 to $400.
Roy: How much is MeCam?
Drew: MeCam retails between $50 to $70.
Roy: On a MeCam, how much video can I store on that?
Drew: MeCam you can store, the batÂtery life is realÂly the bigÂger issue; it lasts around an hour and a half. I offer difÂferÂent memÂoÂry sizes, between one hour to up to four hours. It goes one hour, two hours, or four hours. I offer difÂferÂent memÂoÂry options.
Roy: The Go Pro lasts how long?
Drew: I’m not sure, maybe three hours. It is just a funcÂtion of size and how big the batÂtery can be because MeCam is only two inchÂes in diamÂeÂter, so unforÂtuÂnateÂly it hasn’t been great advances in batÂtery techÂnolÂoÂgy; I think you are also going to see some changes in that in the next couÂple of years. Because even with things such as a smart phone, I think that most peoÂple agree that the batÂtery is the biggest issue. This is also with MeCam, just for the size of it, and there are limÂiÂtaÂtions on the batÂtery and on the size of the batÂtery, which limÂits how long you can tape.
Roy: You nevÂer realÂly gave me a cent dolÂlar valÂue. What do you think the dolÂlar valÂue of the marÂket is for camÂeras like this?
Drew: On a yearÂly basis?
Roy: Yes, on an annuÂal basis?
Drew: I’d probÂaÂbly say a $5 bilÂlion marÂket, every year.
Roy: That marÂket is the marÂket for camÂeras, video cameras?
Drew: For everything.
Roy: All cameras.
Drew: Right, because you are getÂting to a point where all camÂeras can do the same kind of thing, right? All your digÂiÂtal point shoot camÂeras are now video camÂeras, right? You have your DSLR camÂeras that are able to take great picÂtures but also shoot HD video, so you have to include where the marÂket used to be segÂreÂgatÂed into point shoot camÂeras and video camÂeras. That marÂket is mergÂing into one, right. That is where we headÂing with I think all devices.
Roy: Oh, yes.
Drew: ExactÂly, that is where we are heading.
Roy: That’s why you are thinkÂing it is $5 milÂlion, overall.
Drew: Yes.
Roy: OthÂer than Go Pro, is there anyÂone else doing someÂthing simÂiÂlar to the MeCam?
Drew: At the price point, no. There is no real comÂpetiÂtor at the price point. There are othÂer camÂeras that will do someÂthing simÂiÂlar, but they are three times the price.
Roy: The MeCam sells for how much?
Drew: $50 to $70 retail.
Roy: $50 to $70, can I get it in the store now?
Drew: As a new launch, startÂup comÂpaÂny, I had some deciÂsions to make, and so my busiÂness modÂel perÂsonÂalÂly was that I wantÂed to keep the prodÂuct very inexÂpenÂsive, and in that way introÂduce it to the pubÂlic and eduÂcate them on what MeCam is, what it does, the culÂture of MeCam, and to do that by keepÂing it affordable.
When I did that, it has limÂitÂed me because the marÂgins are small except for doing stuff like retail, so right now I am a direct conÂsumer and I sell at outÂlets such as fab.com and The FanÂcy and othÂer sites like that. I am not in a physÂiÂcal brick and morÂtar retail right now. HowÂevÂer, I am launchÂing a new MeCam in the upcomÂing months, probÂaÂbly in August or SepÂtemÂber, which will be in retail.
Roy: Will that be more expensive?
Drew: Yes, it will be slightÂly more expenÂsive, but it will be a lot more techÂnoÂlogÂiÂcalÂly advanced camera.
Roy: What do you think that will go for?
Drew: I’m thinkÂing it will sell between $120 and $150. I’ll always offer both, but the next one will be comÂpleteÂly Wi-Fi with an appliÂcaÂtion to your phone.
Roy: Wow. It sounds like everyÂthing is conÂnectÂing to everything.
Drew: Well, this is where we are headÂing. The thing about MeCam is that since I’ve launched it, I have gotÂten a good user base and I realÂly valÂue my customer’s feedÂback, and so my iniÂtial users have givÂen me a lot of great feedÂback and so I’ve takÂen that input and put it into the design of my next MeCam.
Roy: Now, with Google GlassÂes, does that record video?
Drew: It does.
Roy: That is yet anothÂer potenÂtial comÂpetiÂtor, but that is very expensive.
Drew: Yes, $2000.
Roy: Right. I was just readÂing an artiÂcle about the next thing: why wearÂables are the next secuÂriÂty maelÂstrom; now everyone’s going to be wearÂing video camÂeras. That is one of the biggest conÂcerns with the Google glassÂes that peoÂple are wearÂing them or recordÂing with them, recordÂing the peoÂple around them. Do you think that is going to become an issue that is going to slow the growth of what you are doing?
Drew: I don’t. I think that we live in a day and age in which we are being videoÂtaped, phoÂtographed 24 hours day, espeÂcialÂly if you live in a place like ManÂhatÂtan or live in a major city, you’re always are on video, whether you know it or not.
I think peoÂple will learn to act approÂpriÂateÂly and you have to change your behavÂiour to your enviÂronÂment, to your surÂroundÂings. It is not likeÂly to say: Google glassÂes can record so we’re not going to buy it.
This is not how the conÂsumer is going to react, I don’t believe. It startÂed with smart phones, and I think that was a good step into peoÂple adjustÂing and getÂting used to being held accountÂable of how they act because they’re always on video tape. UnforÂtuÂnateÂly, it is going to be part of our lives and someÂthing we have to get used to because it is not going away.
Roy: Maybe peoÂple will be wearÂing disÂguisÂes going down the street.
Drew: Maybe!
Roy: It will be like HalÂloween, 365 days a year. That way nobody can be recognized.
Drew: Maybe that is my next prodÂuct is someÂthing you can wear, where you’re invisÂiÂble to the camera.
Roy: That’s it! That sounds right out of sciÂence ficÂtion. A friend of mine who is a sciÂence ficÂtion freak, we were talkÂing about it the othÂer day, and I said, someÂone should write an artiÂcle about the interÂsecÂtion of sciÂence ficÂtion with realÂiÂty. He goes: why? RealÂiÂty is more insane than sciÂence ficÂtion ever was.
He said what is hapÂpenÂing today is movÂing so fast that it is ahead of sciÂence ficÂtion. No one’s readÂing sciÂence ficÂtion; they are readÂing reality.
Drew: Sure.
Roy: Maybe you can be the next one to introÂduce the non-visÂiÂble outÂfits you can wear, so peoÂple wearÂing video camÂeras won’t be able to see you.
Drew: I agree.
Roy: It’ll be the self-vehicle.
Drew: Nobody is going to steal that one; it is going to be ours, right?
Roy: That’s it! We’ve copyÂrightÂed it. It’s on tape. You are curÂrentÂly sellÂing to Fab and FanÂcy. Do you expect to be expandÂing to major retailÂers with the new camera?
Drew: Yes, it is not only local retailÂers. It is just that when you have a prodÂuct like this there is a lot of opporÂtuÂniÂty for interÂnaÂtionÂal disÂtriÂbÂuÂtion, and at first, I was realÂly against it, and I was more focused on this new direct conÂsumer model.
UnforÂtuÂnateÂly, if you realÂly want to grow your brand, brand awareÂness, and just your volÂume of sales, etcetera, retail is a necÂesÂsary evil, and you are not going to grow unless you go into retail.
Roy: CerÂtainÂly retail stores are dying to have good prodÂucts, so peoÂple won’t just buy them online.
Drew: They are. You even need marÂgins to do someÂthing like AmaÂzon and stuff like that. It is hard for the conÂsumer to underÂstand what it takes to deal with a brick and morÂtar retail store and serÂvice an account like that.
Let’s say you get a $3 milÂlion order. GenÂerÂalÂly you can spend $2.5 milÂlion to serÂvice that order. It is not like: oh, we’re rich. You have got a $3 milÂlion order that is not how it works. A lot of these stores have a ‘no ask return polÂiÂcy’ up to a year, so you deal with a lot of charge backs, and there are a lot of downÂsides that come with dealÂing with these largÂer comÂpaÂnies because as far as smallÂer comÂpaÂnies they kind of own you, but that’s just part of doing business.
Roy: Your expeÂriÂence in retail pays off in this respect, underÂstandÂing all the issues around retail distribution.
Drew: It does because unforÂtuÂnateÂly a lot of small comÂpaÂnies that don’t underÂstand and will think of hitÂting it big will go out of busiÂness. It is enough to put you out of busiÂness, and very quickÂly, if you don’t know what to expect, and if you haven’t worked with these largÂer brick and morÂtar and othÂer big retail stores.
Roy: I think you brought up a realÂly good point when you said: I sell $3 milÂlion worth of prodÂuct but it costs me $2 and a half milÂlion to do it. I see peoÂple underÂesÂtiÂmate the marÂketÂing costs in sellÂing a prodÂuct. They think: oh, your prodÂuct costs $50. I’ll sell it for $75.
They don’t underÂstand there is an enorÂmous amount of cost in the marÂketÂing. Many times a prodÂuct might cost $20 and you have to sell it, even from your sense, to the store for $75 because of you marÂketÂing costs. They want conÂtriÂbuÂtion to their adverÂtisÂing, or whatÂevÂer. It all adds up. You’ve got a budÂget for all those things.
Drew: These are all learnÂing expeÂriÂences from when I launched I had no idea what marÂgins for conÂsumer elecÂtronÂics were, and what retailÂers are lookÂing for. That is what you learn, which is part of startÂing any busiÂness; you have your growÂing pains and you learn someÂthing new every day, which part of it is exciting.
Roy: Could you give it any sense? You said you launched this in JanÂuÂary, right? That was when you first got it going? Could you give us any sense of what kind of sales you are doing, or any kind of meaÂsure from or a sense of how well it is going so far?
Drew: Every day is difÂferÂent. I have probÂaÂbly sold about over 5000 units in the last five or six months, maybe more, maybe 7000. It’s at a pace, where I’ve been able to manÂage it.
It’s a pace where I am able to grow and reinÂvest those profÂits from the comÂpaÂny and grow it like that. If I had launched it in JanÂuÂary then had to order 10 000 units the secÂond day, I would have probÂaÂbly gone out of business.
SomeÂtimes slow and steady growth is more desirÂable than a celebriÂty endorsÂing it, and you blow out 20 000 units in the secÂond week, and then you’re a sucÂcess but you probÂaÂbly can’t delivÂer on that order for a while and then you alienÂate your new customer.
What’s nice that I have had very steady growth, and I have been able to realÂly interÂact with my cusÂtomers perÂsonÂalÂly, which they have realÂly appreÂciÂatÂed and getÂting their feedÂback, and just realÂly focusÂing on cusÂtomer serÂvice. I think when you do a prodÂuct like this cusÂtomer serÂvice is paramount.
Your cusÂtomer expects it and realÂly appreÂciÂates it. You are tryÂing to develÂop a cusÂtomer for life rather than tryÂing to pawn your prodÂuct off on them.
Roy: OthÂer than your site, how many othÂer sites would you say your prodÂuct is sold on, online?
Drew: Just a couÂple. I like to keep in charge of my invenÂtoÂry, and so what I do have is, is it’s out there in a lot of blogs and stuff like that, which will backÂlink to my site. I think it has been amazÂing how many blogs are out there that are willÂing to help an entreÂpreÂneur out and do some cross promotion.
Because let’s say you have 30 blogs that pick you up, and every blog has their own 20 to 30 000 folÂlowÂers, right, because there are so many out there, and not everyÂbody is going to folÂlow every one.
It is realÂly a unique marÂketÂing opporÂtuÂniÂty that we have today where 10 years ago it didn’t exist, and I probÂaÂbly wouldn’t be able to have this comÂpaÂny or launch it the way I did.
It would have takÂen a lot more monÂey, and you would have, short of going straight into retail, there was no real way to launch a prodÂuct like this withÂout going full blown. Like I said, we realÂly live in a unique day and age where, I think, anyÂbody can do anyÂthing they want.
Roy: Do you have an affilÂiÂate proÂgram where they can earn commission?
Drew: No, I don’t.
Roy: They are just doing it for the fun of it because they think it’s cool.
Drew: Blogs are lookÂing for conÂtent, and so this is, I think, an excitÂing, new and innoÂvÂaÂtive prodÂuct; some peoÂple have agreed; some haven’t. They are lookÂing for conÂtent to put on their sites.
Roy: Do you spend a lot of time reachÂing out to a lot of these blogs to get this visÂiÂbilÂiÂty attention?
Drew: ForÂtuÂnateÂly, they end up reachÂing out to me a lot of the time, but anyÂbody who emails me, I speak to them. Nobody is too small; every perÂson who reachÂes out to me I reach out to them in a timeÂly manÂner, even critÂics because you reach out to me, and here we are.
ForÂtuÂnateÂly I haven’t realÂly had to spend a lot of time; at first, I did with press releasÂes and stuff like that. PeoÂple end up reachÂing out to me, which is great.
Roy: I think you’ve done pheÂnomÂeÂnonÂalÂly in just six months, realÂly from day one. Where would you like to be in a year from now, financially?
Drew: I’m not worÂried about finanÂcials per se. I think that finanÂcials are nice; I am not worÂried about monÂey besides monÂey to grow the company…
Roy: I just mean in sales.
Drew: With sales…
Roy: To make optiÂmum sales, what would you like to be doing?
Drew: I think I’ll reach a milÂlion dolÂlar sales by the end of this year, through the holÂiÂday seaÂson, so by next year I hope to be growÂing at least 100% every year, if not more.
Roy: Two milÂlion or three milÂlion maybe next year?
Drew: Yes.
Roy: SureÂly if you get retail disÂtriÂbÂuÂtion that should rockÂet distribution?
Drew: Yes, the figÂures may be misÂleadÂing but, yes, you are right. It will defÂiÂniteÂly driÂve up your revÂenues. Whether it’ll driÂve botÂtom line or not, is difÂferÂent, but it’ll defÂiÂniteÂly driÂve up revenues.
Roy: You menÂtioned bringÂing in a new camÂera in three to six months. Do you see any new prodÂucts? How do you see the busiÂness growÂing? ObviÂousÂly getÂting more disÂtriÂbÂuÂtion, but what perÂcentÂage of your growth do you think will be from disÂtriÂbÂuÂtion verÂsus adding more than one or two new products?
Drew: I think with adding the prodÂucts the growth comes, and this is just from speakÂing to peoÂple and peoÂple emailÂing me and telling me what they want.
I think that my next prodÂuct is what peoÂple want, and it addressÂes all the short comÂings of my first prodÂuct. I am not going to say it is perÂfect. It’s my first offerÂing, and I think it is great for the price, and I think peoÂple will find a lot of uses for it, but the next prodÂuct is defÂiÂniteÂly a huge improveÂment, and I think all of my growth next year is going to come from that.
Roy: Your one new product?
Drew: Yes, and I think my new prodÂuct will help the curÂrent prodÂuct sell as well. I think they kind of pigÂgy back off each other.
Roy: Between those two prodÂucts, you think you are going to do your two to three milÂlion next year?
Drew: HopeÂfulÂly, yes, that is the plan.
Roy: Have you raised any fundÂing for the busiÂness at this point?
Drew: I am raisÂing my first round right now. I haven’t needÂed it before; I blue tracked it myself, and as I said, unforÂtuÂnateÂly, I wasn’t been able to launch it with not an exorÂbiÂtant amount of monÂey, but I have been able to hold on to ownÂerÂship my own company.
Right now I am lookÂing for quite a qualÂiÂty strateÂgic investÂment. A lot of peoÂple have offered me monÂey, and I haven’t takÂen it, but I am lookÂing for more peoÂple who can help me grow the busiÂness where I am lackÂing, where my weak points are as a CEO, in growÂing this comÂpaÂny to the next levÂel. I’m takÂing on a strateÂgic investÂment right now and talkÂing to people.
Roy: Can you say how much you are lookÂing to raise?
Drew: It depends. I haven’t even come to a solÂid figÂure, potenÂtialÂly $500 000, around there, nothÂing huge.
Roy: If someÂone was sitÂting there with monÂey, burnÂing a hole in their pocket …
Drew: Yes if they are interÂestÂed in the idea and they want to help build a busiÂness, then yes, I am willÂing to speak to anybody.
Roy: There are sureÂly a lot of brick and morÂtar retailÂers who are lookÂing for an edge, so conÂceivÂably you might find one or two of those or three of those who wantÂed to invest in your busiÂness because they see it as a prodÂuct that they could own, not actuÂalÂly own, but have someÂthing that would be unique in their stores, that would be very valuÂable to help them grow their busiÂness and difÂferÂenÂtiÂate themÂselves from the online issues.
Drew: I agree. That is how they are going to surÂvive in the next five years.
Roy: Now do you have any employÂees now?
Drew: Yes, I have a couÂple of peoÂple, peoÂple to help fulÂfill orders and thing like that. I have a conÂsultÂing team and peoÂple who hanÂdle my social media and things like that.
I haven’t made any major hires at this point, and that is why I am lookÂing for strateÂgic investors, peoÂple who have built comÂpaÂnies before because it doesn’t seem like it, but that is the hardÂest part of this.
You develÂop a prodÂuct. ThankÂfulÂly you’ve had some sucÂcess. PeoÂple are reactÂing well to it. It is sellÂing, and now what? GetÂting to the next step is where a lot of comÂpaÂnies fail, and so I am lookÂing for that help in to buildÂing the comÂpaÂny and takÂing the next step.
Roy: Sounds like a Shark Tank proÂmoÂtion! Would you get one of their strateÂgic investors to help you?
Drew: Exactly.
Roy: ExactÂly. Have you thought about, now you have built this busiÂness up, it’s four or five years down the road or maybe three years down the road, do you have an exit strategy?
Drew: That is always hard to say because along with buildÂing a comÂpaÂny you don’t know where the marÂket is going to go and what kind of pivÂots you can take.
I think that with MeCam what I’m focusÂing a lot on that stage is going to be the conÂtent and my users. I have this hardÂware, and I’d like to focus on allowÂing my users to make the most of that conÂtent, and so develÂopÂing some softÂware to help them manÂage it, and make that user friendly.
It is kind of intimÂiÂdatÂing right now. You don’t know what kind of pivÂot a comÂpaÂny will take. Best case sceÂnario, yes, I’d love for someÂbody like Go Pro to buy it in three years. That is an ideÂal sitÂuÂaÂtion, but you nevÂer know.
Roy: That is also part of getÂting strateÂgic investors; someÂtimes someÂbody invests in you because they are thinkÂing that they would have the inside track on buyÂing the whole comÂpaÂny at some point, if they wantÂed to.
Drew: Yes, of course.
Roy: At this point you are just tryÂing to realÂly build the busiÂness. I think to sell this many units of a prodÂuct that nevÂer existÂed before, I think is fanÂtasÂtic. It is like anyÂthing else.
You see peoÂple start busiÂnessÂes, and some peoÂple strugÂgle, and some peoÂple introÂduce a prodÂuct that is in demand, and it starts growÂing, as I like to say, despite their efforts, and those are the kinds of prodÂuct that resÂonate with the marÂket, but in the same token, it is also imporÂtant to keep in touch with the marÂket or you could easÂiÂly drift away, but it sounds like you have a prodÂuct that peoÂple love, and to sell 10,000 of them just from a couÂple of webÂsites and minor word of mouth is obviÂousÂly significant …
Drew: I haven’t realÂly spent any direct monÂey on adverÂtisÂing, which is nice.
Roy: Which is easÂiÂer this or the retail busiÂness that you had?
Drew: I’m not going to say it is easÂiÂer because every day it’s someÂthing new, but the retail busiÂness is an extremeÂly hard busiÂness. It’s a sevÂen day a week busiÂness. I litÂerÂalÂly worked sevÂen days a week for two years.
It is very tough. I feel for anyÂbody who has a retail busiÂness, and I know what they are going through. If you are also able to be physÂiÂcalÂly interÂactÂing with your cusÂtomers, which is great, every day is fun. For me, this is more excitÂing and a litÂtle bit easier.
Roy: Is there anyÂthing you want to menÂtion that I haven’t asked you about that you want to bring up on the call here?
Drew: No, I just think that if there are any aspirÂing entreÂpreÂneurs out there just to do it. PeoÂple are like: oh, how did you do this? I say no, I just did it.
I will sugÂgest: don’t quite your day job before you have a built prodÂuct and cusÂtomers, and ideÂalÂly you want to have cusÂtomers before you build your product.
We live in a very unique time and I think peoÂple should take advanÂtage of it because plenÂty of peoÂple will look back and have regrets, and it’s like ‘I’ve always wantÂed to do this.’
We live in a time that anyÂbody can do anyÂthing. I am always availÂable if anyÂbody wants to reach out to me.
Roy: How would they reach you?
Drew: They can email me at info@mecam.me. You can go to my webÂsite: mecam.me. All my inforÂmaÂtion is there as well, and you can learn more about the prodÂuct and hopeÂfulÂly buy one.
Roy: What I love about this interÂview is this is a great examÂple of a year from now, you could be pheÂnomÂeÂnalÂly bigÂger. You have got a prodÂuct that is getÂting some traction.
You are about to introÂduce a prodÂuct that you can sell to retail, and it is a great examÂple of a comÂpaÂny that is realÂly poised to take off. LitÂerÂalÂly you could be doing milÂlions and milÂlions of dolÂlars next year.
Once you get in some strateÂgic investÂment from Best Buy or someÂbody like that, and before you know it, you have an order for 100,000 of these, but done right so that you could get it done and not have any issues.
I think that this is a great examÂple of the kind of comÂpaÂnies that we like to talk with, and we totalÂly wish you the best. It sounds like you have a lot of excitÂing things to do.
Drew: Thank you I appreÂciÂate it and I appreÂciÂate the time, and yes, I am always available.
Roy: Well, thank you very much Drew.
Drew: Thanks Roy.