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Contxto – Many startups initiated the year with big plans. Three months in and coronavirus has changed all of that. And there has been no greater need to adapt to the circumstances than now. So, one Colombian startup is doing just that.
In a phone call with Contxto, Rebus Technology unveiled that within the span of just one week, it’s developed and launched not one, not two, but three products that tender to remote events and needs. From them, multiple sources of revenue emerge.
These products are aimed at audiences throughout Latin America. Nonetheless, translation is underway to create an English version of them and should be launched in the US sometime this week.
What’s interesting is that some startups take months to create a single product, but three within a week? Desperate times, I guess…
Just what is in Rebus Technology’s secret sauce that allows it to create multiple solutions in such a short term?
So, what are they? Read on and find out.
Rebus Tech earlier this year…
A quick refresher, Rebus developed a plug-in that helps event organizing sites like Event Brite generate additional revenue streams by selling merchandise as well as experiences like meet-and-greets with beloved artists.
And it had even raised an investment for US$415,000 in January of this year.
But, as everyone is well aware, events across the globe have been postponed or canceled as a result of the coronavirus pandemic.
So what’s a startup that relies on events to do in these circumstances?
“We can sit by or we can make the most of this situation,” said Rebus’s Co-founder, Juliana Villalba, over our call.
Following a brainstorming session, and one intense week, the Colombian startup came up with three products.
Related article: Latin American startups versus Covid-19
Many companies are currently concerned with preparing budgets, reviewing their taxes because it’s that fun time of the year. Likewise, board meetings are commonplace for all of this to play out.
However, for these critical matters even Zoom and Google Hangouts have their limitations. And it’s also where Rebus’s new platform for events comes in. Through it, users can register who’s arrived, share the meeting’s agenda, receive everyone’s digital signature to validate and officiate the reunion, among other perks.
In exchange for these services, Rebus charges for every person that attends the meeting.
Villalba told Contxto that as of a week of its launch this product has generated 5 customers for it and 70 leads.
This solution goes along the line of Rebus’s previous product, the plug-in for events.
However, now the startup is introducing a platform where music artists and independent filmmakers can show their stuff.
Musicians can hold concerts from where they choose and host them over Rebus’s system. And it adds on interactive features like a chat system where viewers can request songs, ask the artist to play a certain instrument, etc.
And like the previous product, Rebus charges per viewer.
To push for further sales, the platform also leads fans to a page where they can buy merchandise to make the most of this virtual event. Or, if the artist offers paid virtual lessons on how to rap, for example, they can also find these offerings on the system.
Moreover, independent filmmakers can also use the platform to showcase their movies.
This solution was launched last weekend and has created 118 leads for the Colombian startup.
Social distancing pop-up store
Its third product works as an online catalog of local services.
So if there’s a manager at a large, old-school company and all of a sudden everyone on their team is working from home, it can be overwhelming.
As a result, this pop-up store serves for other businesses and freelancers to offer the manager their consulting services to soft-land all these changes.
Alas, the question remains, how do you get 3 products in a week?
Co-founder Villalba emphasized that the startup’s horizontal structuring gives everyone in its 25-person team an opportunity to share their ideas, contribute to product development, and be much more agile to react to these changing circumstances.
And all at a distance of course.
Rebus shall continue to develop its plug-in so that once live events are back on, its original product will be set for launch. But now, it has much more in store to manage these tough times.
What’s Villalba’s final tip for adapting and launching products within such a tight timeframe?
“Perfection is the enemy of speed.”
Post-launch, tweaks will certainly come along. But entrepreneurs can no longer afford the luxury of taking their time to create their solutions and generate revenue.
Slow and steady does not win the race now, kiddies.
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