Today I had a meeting with VCs, I always think we're closer to a deal and then we meet up and a little more distance is put between us, or maybe it's just me being impacient -- we're actually doing quiet well. But yes, these are hard times and as I was waiting in the lobby I caught a glimpse of the FT.
The bottom line for VCs is that Mekwa will need to prove it's an engaging service.
Engagement can be translated into two variables:
1. ARPU (model how much revenue can be generated per user)
2. CP Contamination potential (engaged users will become advocates/champions of the service. Passion is contagious, as is happiness.)
So Mekwa will need to prove it instills passion in its users.
Ok, so how can we, with very limited resources, prove that the system is engaging? Specially in a moment when we need some funding in order to improve the system. Make it less frustrating for the user, specially on the iPhone front. Numbers. VCs want numbers that ca be projected into a model of the future. Arghh...
