They are both 1) insightful and 2) entertaining.
I’m taking a stab at making these updates more of those, so if you have thoughts on if you prefer this new format or the format of the last few emails – hit reply and let me know.
Now on to this months top briefings:
Once our funding closes, we’ll be expanding from Denver & Austin to a total of 15-20 cities over the next 9 months. Know any rockstar VP of Sales or VP of Operations candidates? Tell them to apply here!
As a side note, this month we were rated one of Denver’s top 10 startups to work for! We put in the long hours but we also love to have fun together.
Even our (highest volume) customers want to meet and hangout with us!
We’re scaling across the US. How would you do it?
To expand growth in the next 9 months to 15 cities we are looking to identify cities similar to Denver and Austin, launch using our proven sales and hiring strategies, and operate using our already built infrastructure.
To find the top cities to launch into we’re putting a lot more effort into city selection to find markets who want our product as is instead of needing additional features to use us.
Our initial idea is by starting with Facebook Ads and Email Blasts to 50 cities we’ve identified as best fits based on criteria identified below. We’ll decide the cities we launch into based off the top 15 cities with the most signed up & interested realtors.
How do we plan to organize the top 50 cities and narrow them down to the top 15?
We’ll take into account population, average home price, existing customers/relationships in the region, average cost of standard photography, etc.
Leverage our existing relationship with Matterport. They’ve already shared some of the top cities they are seeing traction in, including Miami and Nashville. Because these markets are already bought into the technology, we can come in and simply compete on price. Something our current customers have already expressed to us as a reason they’ve switched to using our service.
Once we have the realtor sign up numbers from the top 50, we’ll call the realtors who signed up to ask them questions about the market including how many realtors are using similar technologies, what are the current photography companies in the city, and how far do they typically travel outside of the city to serve home buyers and sellers, etc.
We’re looking to make a much more comprehensive plan – what suggestions do you have or how would you go about choosing cities to launch into?
(If you’re not technical, this may bore you)
One of the problems we need to solve to see VR adoption amongst consumers is:
- Getting the home/3d model quality high enough to the point where most realtors would use VR to have their clients tour homes (saving them time, money, frustration, etc.)
The plan over the next 6 months is to automate the process of taking existing models created by the 3D Scanners in the market (Matterport, GeoCV, Occipital, FARO) and making them higher quality that consumers want to tour through.
To do that the tech team must figure out how to take a 3D model of a home, create floor plans from the model, turn those floor plans into text descriptions of the entire house, and recreate a higher fidelity model of a home.
As part of that, we have been receiving multiple people asking for VR models to be produced of homes that don’t exist yet. Because of those (paying) requests, the tech team has built a way to take existing blueprints and turn them into 3D models.
Our tech team is ~1 month away from having that problem fully automated. Here is what that process looks like right now.
Key Performance Indicators:
Walkthrough replaces the time-consuming process of touring multiple properties with a simple and affordable virtual reality experience. (view investor slide deck)