Attention Investors: Read this Executive Summary

eGurueGuru subscriber Posts: 7
edited January 2007 in Elevator Pitches
MYPERFUMESFORLESS.COM SUMMARY

Comments

  • eGurueGuru subscriber Posts: 7
    Dan,
    Big Four stands for the four biggest players in the public accounting industry, PwC, D&T, E&Y and KPMG with PricewaterhouseCoopers, LLP being the biggest global professional service firm.  This used to be the Big 8 but many folded (Anderson/Enron case being the most recent as you would remember)
    Hope that helps
  • JeffJeff subscriber Posts: 1
    Wow...now this is a hot executive summary. The presentation is substantive yet succinct, and these guys seem to have great qualifications as a management team. The competitive advantage concerns me a little in that it seems to be based on best pricing, which can be a slippery slope, but I have a good feeling these guys have a handle on this one. Great job! I`d love to follow the progress....Jeff
  • eGurueGuru subscriber Posts: 7
    Jeff,
    The compliment is most appreciated.  The goal is two-part...first being to raise the minimal funding necessary.  If we do not get the funds then we should have that saved up in a year or so.  Success is definitive, just trying to expedite it here. 
    The second is to provide a sampler summary as I have personally seen so many I would not consider looking at as an investor.  A template if you will touching on the important points that any investor would want a synopsis on.
    As far as the competitive advantage, believe me, many have searched for hours (I did myself in the 15 months of planning prior to launching) and no one does have this pricing structure.  I know that "best" is something even search engines like google stay away from but then again it is.  What would be your suggestion in how to get the point across to your investor without giving the slippery slope connotation attached with the phrase "best pricing"?
    Would love to hear everyone`s thoughts on this....
  • stonesledgestonesledge subscriber Posts: 608 Silver Level Member
    You definately have covered the bases. It is very strong and in depth. Great Web Site by the way. I can`t find that Ellen Tracy perfume any longer, but you have it! I`ll have to order! Way to Go!
  • eGurueGuru subscriber Posts: 7
    hey Stonesledge,
    thanks for the comments.  you know what I just thought about this now...since the community here is so insightful and helpful...I will grant free memberships to community members that sign up on the site to become customers.  I tell ya what - sign up and I will activate your membership - Just give me a hint that it is you. 
    A lot of times customers request products they do not see and over half the times we are able to locate it for them.  Make sure you use this "request" function if you do not see something you like.
    Happy shopping!
  • JeffJeff subscriber Posts: 1
    eGuru...I want to make sure I have it right...is your competitive advantage based on "best" pricing only? Or are there other advantages? I see that Stonesledge found a perfume on your site that she couldn`t find anywhere else. Might the fact that you can find offerings on your site that are hard to find anywhere else also be part of your competitive advantage??
    Do you gain the ability to do best pricing by requiring the membership fee of $39? If so, I`m not sure I love that. Could be seen as a major impediment to a lot of customers. Hmmmm...let me ponder that one....
    Jeff
  • eGurueGuru subscriber Posts: 7
    Hey Jeff,
    Appreciate the thoughts.  The #1 advantage is in fact that these prices will not be met elsewhere.  Our "regular" prices are very competitive as it is.  Would you say the 39 is too much? or the mmship concept all together is impeding in general?  We have gone back and forth with this one and not sure the direction we want to commit to.  As we stand, our membership conversion is 10% (one in 10 customers becomes a member).  Members later email us and tell us that they use the site to shop for personal items, presents for all ocassions, etc. therefore it makes the price worth it.  We also have numerous small retailers that buy a lot regularly in bulk...we send a lot of them shipping rebates and other small tokens of surprises in the mail (all unannounced).
    The other thing is our selection.  There are over 1000 products on the site (and counting fast).  The industry is such that it is difficult for every vendor to have everything.  For the most part we do a good job in getting our loyal customers what they are looking for (our strategic placement allows us to explore the market first hand and get the product wanted - see our "request it" link).  
    As explained in our site as to how we are able to offer these prices, we charge a mmship of 39 annually (like Sam`s club concept) in return for shipping unlimited quantities of any product at our cost.  We are pretty much saying, give us your loyalty and we will do the work for you for free.  Those that do not want to purchase the mmship are also more than welcome to purchase at very competitive "regular" prices.
    Please continue the dialogue - we appreciate all of this.
Sign In or Register to comment.