I finally got some validation that I am on the right path. This was a good quarter. We got lots of customer visits and we learned a ton about the experience, how to make it better and segmenting our Agents. The graph above tells part of the story. I have testimonials and notes from talking to every group that comes in and I feel excited about what we are doing. People like completing Missions!
Generate revenue - This really got moving. While we don’t get much cash from Groupon, we are validating that people will pay for the experience. Some will even come back. We are ramping up marketing to generate interest.
New Zone- We found a new home right in downtown Derry. Being close to home has turned out to opening new opportunities and the downtown vibe is great.
Content- We added no Missions in this quarter. There is no excuse here. My execution has been pathetic.
The move was a disaster trying to work with the town. While I am happy that I fancied up the walls and painted them, it still burned a lot of time. I am proud of the small pivot we made to define the roll of Ops and Intel, but I still haven’t updated the video or modified our on-boarding process, which needs help. People really like the product and we are getting a good feel for how to make Missions exciting and interesting. I grade me a D+ and the business a B+. We made progress, but only a few customers are bragging about the experience, that will be the sign that we’ve got it.
Marketing. I decided to run a Valpak ad. BIG mistake.
Content. Like I said, no excuse.
Blocking and tackling. Some of the easy stuff I just can’t get through. I’m falling further behind. Having customers is good, but I am losing critical time.
Mission Experience. People are starting to really enjoy what happens here. Getting referrals and repeats has been a huge indicator of a good outcome.
Bomb Mission. We’re almost done, I think this will be a big hit. I can’t wait to re-target and get a sense of LTV.
Marketing. I’m starting to pay attention and I think there is a real opportunity to grow organically at the new site. Coupled with partnerships, I think we have a lot of potential. I’m excited to work with Snowbird Creative.
Chamber of Commerce. HUGE help. We even solidified a grand opening July 25 @3PM.
Jury is out
Financing- NEED something by year end. I am hopeful for the Capital Network to help get me closer to the Boston scene. I think our numbers are starting to tell a story.
Market Niches- I think we have nailed the Nuclear Family and Baby Boomers with PMF. Can we build more content to extend? Can we hit other niches as well?
Demonstrate potential- While I believe this can be a great business, I am not so sure we will be able to demonstrate a model and metrics that will survive the future.
Q3 Outlook & Objectives
Grow revenue per customer and total visits while shifting away from Groupon for a lower CAC.
Demonstrate LTV by rolling out more content and creative ways to get people to come back for a second and 3rd mission. Ideally build a membership model. Sign partners and sponsors.
Other markets. I really want to roll out Missions for STEM school learning as well as firm up packaging for corporate off-sites and special events (birthdays, family reunions, challenge nights)
I am really enjoying talking with customers and getting ideas about where we are going and what we can do better. My favorite quote came from a mom and her 12 year old son after they completed a Mission. They walked out of the Zone and 30 seconds later walked back in asking to do a second. She asked me, "I don't have any money because my husband took my credit card, but can I pay you with Venmo?" That is a good sign.
Missions on Platform - 3
Average Revenue per customer - $14.10
Burn - $7,600 (per quarter)
Paid Customer Visits this quarter - 176