It is always prudent to not only carefully plan every positive move on the road to triumph but also to anticipate and plan for every possible threat and ensure that these threats can NEVER derail the train on its way to our destination of ABUNDANT SUCCESS.
So what are the key threats?
- Lack of funding
- Being beaten to the market place by a similar or superior service
- Encountering regulatory problems
- Not gaining traction with bands, artists and/or fans
- Not attracting advertisers
- A global recession
- Being unable to organize a quality coin listing.
So let me realistically deal with each in turn:
1. Lack of funding.
If a company had a successful ICO, then perhaps they have been saved from continual fundraising. But frankly, those that did raise a substantial sum in the past few years at an ICO are often cursed as well as blessed. Clearly the blessing, is having the significant sum of money. But the curse is often multilayered:
- They had taken money from hapless investors who started trading their coins BEFORE there was software completed, let alone a functioning business. There were no motivated buyers for the coins since there was no business accomplishment to motivate them. Consequently, the price of the coins tumbled.
- They did not have adequate discipline in spending their jackpot frugally. The very best teacher of frugality is VERY limited funds. We know!
- They did not hone fundraising skills for when the money will run out. Thankfully we have these abilities.
So, what are the chances of us not raising adequate funds? They were much greater when were at a purely conceptual stage. As we have advanced in implementation of the business, the risk has progressively reduced. We are now at a lower risk stage with the software being completed and about to be tested by our FENIX Global Celebrity Ambassadors and a limited number of fans (by invitation only), with the same happening in August in China, with artists coming on board and about to come on board en masse.Indeed it is this last occurrence that I think is most pivotal and will probably almost eliminate the risk of not being able to raise adequate funding. Because
as soon as investors see the imminent number of artists, there will be much less to be concerned about.
This stage is almost here and I think major funding is perhaps almost here alongside it.
2. Being beaten to the market place by a similar or superior service.
This is very unlikely as we are already in the first stages of launching the business. And close to starting proper promotion and distribution. The notion of a superior service is frankly difficult to conceive as we are committed to all possible revenue going to artists, we have developed a diverse set of cutting edge tools for artists etc etc.
3. Encountering regulatory problems
We have been very careful to ensure our corporate structure is situated in an appropriate jurisdiction- Singapore, we are vigilant about making our FENIX token a TRUE utility token in every respect, we are vigilant about not making return on investment predictions or other unfounded predictions, we are vigilant on setting up the most protective and responsible environment for people that buy coins with us and finally we are assiduously avoiding marketing in jurisdictions where the risk of regulatory issues is higher. We will continue to be vigilant in the forgoing and all other pertinent areas.
4. Not gaining traction with artists and/or fans
There are several reasons why we strongly believe this is NOT a threat to the FENIX business:
- The positive reaction of artists, musicians and bands at the preliminary ambassador stage is OVERWHELMING! In short, FENIX and its revenue model & musician tools are what they have been WAITING for. And with bands, INEVITABLY come fans
- We have multiple ways of getting LARGE numbers of bands on board, as mentioned in my prior blog this week. To reiterate:
- There are multiple distributors of content for say150 platforms and perhaps 150,000 bands. IF every band had 1,000 fans that received the software, that’s 150 million people!
- We are designing an automated system for taking the content of 100’s of 1000’s of bands and automatically creating apps for them., We will then send these completed apps to bands to get them to join. They can use the app as is or improve upon it.
- We almost cannot keep up with the enrolment of our FENIX Global Celebrity Ambassadors who are evangelists within the musician and wider artistic community to enrol other musicians and artists. This network expands virally quite rapidly.
5. Not attracting advertisers
As our partner Lance Ford likes to say (and he is somewhat of an advertising guru): advertisers ALWAYS follow audience. If you have a sizable audience you WILL have sizable advertising. Furthermore, music (and the arts) is highly attractive to advertisers. It sociodemographically segments the population and allows optimal targeting. Finally, a “grassroots”music/arts service is an advertisers’ dream.
6. A global recession
Without making any predictions about the likelihood or otherwise of a global recession, it is fair to say that this is something that most businesses have to be concerned about. Perhaps less so with FENIX:
- People listen to music and enjoy art in good times and bad
- The listening to music is free. So this will not be affected by people’s disposable income.
It might be argued that advertising spend will be affected. Perhaps, but we do not believe in a substantial way.
7. Being unable to organize a quality coin listing.
Not a real threat for us, although for some.
We generate considerable enthusiasm with exchanges. One prominent exchange communicated as follows:
“Hello Allen! (sp)
You and Fenix single-handedly restored my confidence in Blockchain and ICOs. I get what you guys are doing and honored to know we can be a part of your ICO journey. I will send you the MOU 1st thing in the morning.”
We are a mass global play. Exchanges want accounts. We can supply them potentially in very large quantity.
So given the forgoing, we feel quite comfortable in precluding any theoretical threats from becoming more real.