It’s not every day we get to chat with someone who’s technology was acquired by Blackberry, which makes today’s interview particularly special. We talk to Dean, a eCommerce entrepreneur with a background in software engineering. His excellent Amazon loan is already 32% funded, and investors need to act fast to get in on the action. Without further ado, let’s get started.
Hi Dean, thank you very much for taking the time to talk to us. Could you please start off by telling us a little about your business background and the company you run now?
Yes. My background is in software engineering. In 2009 I formed a Competitive telecom carrier and VoIP provider in New York. I grew the business from 0 to 12 million dollars annual sales in 5 years. I was honored to be listed in INC 500 most growing companies in the United States for two years in a row. At the end of 2015 I sold my business to a listed US company which was later acquired by Blackberry.
In other words my team designed an innovative enterprise system for Fixed Mobile Convergence that ended up being part of Blackberry Enterprise Service Solution. After my successful exit, I formed a design studio and internet marketing firm in order to create high-end brands and use technology with ad platforms to promote and sell the products.
Since the formation at the end of 2015, we’ve been working as consultants to promote a brand in health and personal care with sales $20,000/month. That brand reached
$150,000/month after 9 months.
How come you ended up starting this business and why have you chosen this particularly niche?
The success of our design studio forced us to establish an end-end e-commerce machine. In my opinion the timing is perfect. You have to take into consideration that:
- Retail is moving from malls to internet. Online shopping continues to grow. For most things, the online experience saves time and money without having significant disadvantages. What’s more, it’s not weather-dependent and can be done at any hour of the day.
- Online Shopping has become more personal and effective. These faster and faster shipping times are bringing us closer to the near instant gratification we experience when shopping at brick and mortar stores.
- Market Depth in E-commerce is expected to reach $50-55 billion by 2021 from the current $6-8 billion. That shows massive growth but still, I believe e-commerce is in its infancy. We have selected multiple niches and for each niche we hire an expert to share his expertise. We then create a recipe which involves high-end product design, manufacture, packaging, promotion, perfect after sales customer experience.
What do you hope to achieve with your loan and why did you choose Bitbond over a bank?
Dealing with Trade no matter how big or small you are, you need a financial back-up. This loan will be an additional tool for us…. We plan to add two more products to our Sport & Fitness category. The new products will go live in 3 months and we will start making profit after 5 months. We expect to settle it in 8 months period.
So, why BitBond over a bank? Banks don’t understand the market, they don’t care how the market works so they follow very strict and old school polices. For example in US in order to approach a bank you have to be in business at least 14 months. New businesses are not able to approach a bank, not even to issue a credit card. On the other hand Bitbond is delivering a modern platform followed by investors that are looking for new, innovative companies & Ideas in a win-win situation.
In BitBond’s environment, borrowers bypass the dinosaur banking system, or more polite an aged financial system for fast time to market, and investors can make some profits picking the right vehicles to success.
What is your favorite feature on Bitbond? What features do you think are missing?
It’s easy, strait forward, a fantastic idea. What is missing is time. The power of Bitbond is the power of their members. As it’s maturing and more borrowers and investors are coming in, then the ratio of success will improve as borrowers will get funded faster and investors will have more investment opportunities to pick up.
So the missing feature, is “network maturity”. I believe BitBond is doing an amazing job, disrupting business financing and investment possibilities.
What would you want potential investors to know about your loan?
Some Figures. Our commerce firm is just 8 months old, in this period we managed to have $120,000 in sales from 1 brand, we sold 6,398 units, on 5,508 orders. Our net profit is 27%, we spend on Pay Per Click $23,000 and ROI is 144%.
Our goal in six months is to reach $100,000 monthly sales for the same brand. We are in the works for 2 new brands in different product categories.
What do you think the future holds for bitcoin? Is it the modern-day equivalent of the internet or will it fall flat on its face?
The idea of digital money had been a dream since the birth of the internet. Numerous attempts to this direction didn’t end well. Bitcoin as a concept is almost 10 years old looking that is here to stay.
Governments are trying to force regulation to the system and exchanges because they lack control over the virtual currency. Bitcoin has to face a lot of challenges. In my opinion its here to stay but it will take years maybe decades until it gets acceptance.
As a business does your place of work accept bitcoin? If not, what do are the chances of that changing?
No, not yet. As I said earlier bitcoin needs time to overcome challenges of an old economy. As communities like BitBond will gain momentum, that will help to establish confidence and start using bitcoin in parallel with the local currency.
Thanks for an excellent interview Dean. Investors who would like to support Dean’s Amazon loan only have a few days left to do so.