The Votes Are In!

When Shark Tank aired I posted 2 survey questions on my blog. I promised to share the final results and, after 2 months, I'd say we've got enough votes to have reasonable conclusions. Here's how they finished:

Question #1: I believe InkFlip is...
Brilliant  311 (31%)
A Good Idea 594 (59%)
Stupid 92 (9%)
(total votes = 997)

Question #2: The Sharks decision on InkFlip was...
Wise 469 (53%)
Uneducated 217 (24%)
Ridiculous 83 (9%)
Stupid 110 (12%)
(total votes = 879)


You can, of course, draw your own conclusions from the results. From my perspective here is what I have taken away:

Question #1: The InkFlip service is a better (cheaper, more convenient, green) way to do something we've all been doing for a long time. It takes a proven fulfillment model (i.e. NetFlix) and applies it to a new industry. I believe the fact that 90% of voters classified InkFlip as either "Brilliant" or "A Good Idea" is a very positive boost for the business. Personally, as the guy who came up with it, I can tell you that it's very encouraging and I'm quite thankful. Entrepreneurs are like artists. We have ideas and visions. We build them out and then, those who are brave enough, put them on display for the world to see. It's the reaction to our creation that determines our success or failure. I'm more than pleased with this reaction.

Question #2: Based on my inability to answer the "customer acquisition cost" question I can't say I am at all surprised that 53% of voters felt that the Sharks made a wise decision to not invest in InkFlip. Since the other 47% felt their decision was either "Uneducated", "Ridiculous" or "Stupid" I guess the poll was pretty evenly split. 




Overall, I find it interesting that 90% like InkFlip but better than 50% felt like the Sharks made the right decision to not invest. Today I am certainly glad I didn't give up any of my company to the Sharks - not that I had the option : )  It turns out that there was an additional vote... where America voted with it's hard-earned dollars. That vote is the only one that really counts and it's been an overwhelming YES on InkFlip.com. New customers are still coming on board every day, and every day I'm receiving re-orders in the mail. I can't thank you all enough!

Best - Andy

2 comments:

  1. Great for you, Andy. I like the concept. I saw you on the show and that is how I came to your site. My question would be how much does it cost for you to acquire a customer? I guess I was free. LOL.

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  2. Thanks for sharing your experience. I am thinking about applying but still working on the prototype for an idea I came up with 2 years ago. What should I do to prepare? Did you already have a website and everything else in place first?

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