Virtusphere offers a new Gaming Experience

Guest Post

Virtusphere,  a company that I first viewed on Shark Tank, demonstrates what’s possible in both gaming and military applications.

Entrepreneur’s, Ray Latypov and Jim Dimascio introduced the product on Shark Tank asking for a $1.5 million dollar investment in exchange for a 10% stake in the company.  The Shark Tank Investors loved Virtusphere, but they couldn’t quite put their hands around the deal because the company hasn’t proven a buying market yet. It simply is too premature for the Sharks to invest.

The Entrepreneurs face a classic problem that many face. That is that they have the idea, they have a product, but they haven’t really defined themselves and focused on building a stable company. They are still trying to figure out what they can do to get something to stick.

Fortunately, they have sold units, in fact, around the world. Still, the website is more of a Popular Mechanics type of thing, rather than a defined, “Here’s the deal” type of business.

What Virtusphere needs most is to pick a target market, find a great marketer to work with them and create a solid branded message.  How are they going to sell their product at a price people will buy it and allow them to make a generous profit? It’s focus time guys.

You have to love when you see a deal like Virtusphere. They are real, they have a real product, they just need the right people to partner with them to get the job done. Everybody knows it, but where is the right partner?

Unfortunately, they don’t disclose any pricing information on their website, so it’s tough to tell what it would cost for each application. That information would help greatly to determine which target market they should first be focused on.

If the company is focused on putting the product into Government or institutional applications, they will need to be prepared for a longer sales cycle. For that reason alone, it might be wise to focus on the gaming environment with private companies in order to expedite their sales cycle.

Regardless, this Virtusphere cool toy, let’s hope they can take their company to the next level.

 

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