I know last year we were suppose to see a complete makeover of the site, also a presence on twitter again also marketing of the site with rebranding that didnt happen, so will this football season be when pm finally breaks out?
So How Is The Site Coming Along 635 views
We will be making a lot of updates over this summer. We are getting ready everything for football season.
First I have to say it, god @Evo you can be so toxic. You're simply making a fool of yourself by insulting me at repetition. It's just uncalled for.
Now let's get down to business, I won't sugar coat anything, I miserably failed in what I initially intended to do.
Let me start with some context
When I bought the majority of PM (October 2018, I bought 80% I had 33% before), I was in for like 100k-120k usd. Now with PM revenue that's more or less 3 years worth of $. So let's say that I would do nothing with PM, it would take me 3 years just to break even (not counting for the hours of support and programming). I think this is important for you to realize if you want to try to understand my decisions.
What happened to the version 2.0
When I sold my previous business, I thought that I could make a 100% fresh version in like 4-6 months. God was I wrong. The problem is not in creating the new version, but in keeping what's already there. Transferring all games, all picks, all posts, all profiles, etc. in a new structure. I had severely underestimated the amount of time required to do that. Not only that, but the god damn feed problem is soooo frurstrating for me to deal with.
I was pretty far in the new version, those that added me on Skype saw where I was and the progress was nice. But, after more or less 500 hours of work, when I saw how much more needed to be done, I was very discourage. Keep in mind, I'm still not paying myself for all that work AND I have more than 100k invested. Like anyone, I need money to pay the bills. That's when I found out about a grant in my city for entrepreneur to start a new business. I applied and after 2-3 months of filling forms and waiting, I was accepted. As you might expect, the government won't back any gambling related products. So I decided to start a new business that would help Pick Monitor, but that would be totally independent. It's goal is to create a sports data API / Widgets (to eventually replace the one I'm using because i'm sick of the current providers and all the mistakes we got).
So that's where I'm at right now.
What's coming soon
Since I'm now full time on that new business, I found a programmer to add new features in the existing version (shout out to Ming). Bare in mind, PM was the first project of Patrick the previous owner so it's really hard to get anything done. It's carrying what we call a technological debt which increase the time required to implement each feature.
The next release will be this month, probably in 2 weeks. There's a token system that is being implemented. It will let you win tokens for daily login, forum posts, awards, daily picks and you will be able to trade those tokens for free picks / subscriptions.
The pricing structure will also change to give more breathing rooms to the business handicappers to make a profit. The prices will go up, but it will be offset with the token system for active members (if you participate every day you will get more or less 30$ worth of free PM picks / subscriptions). Those with active subscription will be grandfathered so no need to worry about that.
My big picture goal with this feature is to give incentive to stay active .
Finally, early August there will be a contest feature added. It will allow me and other admins to create contests with prize money!!
For those that are angry at me for not delivering, I understand but I won't apologize. Trying and failing is part of the entrepreneur cycle and I won't be sorry for that. As a side note, I could be doing nothing and waiting 3 years to make my money back before investing more time and money and that would be ok. However, I love Pick Monitor, what it stands for and I intend on steadily improving it in the years to come.
I'll be on later today if you have questions / comments.
I am commenting before I even read Michael’s response. Business is a grind. What should take a day can take a year. lol. No BS. I’m just trying to get my ROI up by the time PickMonitor breaks out. Good luck, gentlemen
Thanks for the long post Michael =)
I really think some true Finnish lady power is needed here ;D I can take care of Twitter without any real compensation to make the site more popular hence benefiting us all! Any other ladies here posting picks?
Michael you should take Ladybet up on her offer. More exposure would be a good thing.
Totally agree with Eppley. If LadyBet is willing to promote Pick Monitor, it can only help you out :) btw, welcome LadyBet, your attitude is a breath of fresh air... good luck :)
Just asking Michael, where is the 30-40k revenue coming from?
@GamblingGods Really appreciate. I've been an entrepreneur for the past 6 years and it's a real grind. Sometime you think a challenge is impossible and it turns out to be easy... and sometime it's the other way around.
@LadyBet, I would GLADLY accept your offer and you would of course get compensation from any result based off your work. Email me at [email protected] or skype [email protected] and we can chat in more details about how we can make this happen.
@Charlie 100% from subscription. Best way to help the site is to get one!
Thanks Michael! Let's chat next week when I'm fully back from my holiday:)