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Phil Argent: Right, hello, James. Now, this is episode five of us sharing how we are building this platform.

James Thorn: Hello, Phil, brilliant, looking forward to this one.

Phil Argent: Right, okay. Now, what we are going to talk about briefly, for eight minutes approximately, is how the success of data is having a direct affect, not an impact, it is having an affect, on the strategy that we are trying to roll out, so this is a conversation more about what you think is the effect of our success, because-

James Thorn: Yes, I think we are going to talk about, it has become so obvious over the last few weeks, now we are getting so much more traction on the platform, so many more users coming in, and the data we are getting is so valuable.

When we reflect back to the quarter before, beginning of the year, when we were just getting started, we had very, very little data to go on, which made making decisions or making priorities of the business plan, or features, or development, extremely, extremely tough. But now we’ve got users, a lot of active users on the platform, and we’ve also got some really open agents.

I’ve just come off the phone to one of them, who would literally tell you exactly their thoughts, what we need to do, how this is helping them, what part needs to be slightly improved, what benefits they are getting from it, and that data just, it helps us so much with the business plan and going forward.

Phil Argent: Okay, so what you are saying is, as I understand it, is that obviously, we had an initial start point where what we sort of said is, “Well, what we are going to do is we are going to build this model. We are going to try and get some users on the platform. We are going to put the analytics and the data tracking in place, and then we are going to basically assume that there is going to be upturn in the performance of the data?”

James Thorn: Right.

Phil Argent: I understand that. Now, what I want us to talk about is the effect, the effect of that strategy. How is the idea changing over the last five days? Is the idea changing, or is the business changing?

I mean, obviously today, we have got Natalie who has joined us within a business development role, which is going to be key to testing out one of our business growth ideas.

James Thorn: Yes.

Phil Argent: We are a team of four, plus we have an investor, plus we have, I think it is round about seven other people working in a freelance capacity around it-

James Thorn: Working for us in [Crosstalk 0:03:22], so you are not…?

Phil Argent: Yes, so there are kind of like 11 or 12 people that are all circulating around this idea at the moment, which is extraordinary in itself, so what is the effect from your perspective?

James Thorn: I’d say, you mentioned there the idea changing is the concept change. I wouldn’t say necessarily, but I’d say the way we are executing it, and the way we are moving forward, getting traction, the core value and what we set out to achieve, communication tool, is still the fundamentals, but the way we are getting it to the market, and the way we are getting users, and the way we are shaping our development, and what features actually make it better, that comes from the data. I wouldn’t say the actual idea changes, it is the execution of getting us where we need to be with users.

Phil Argent: Okay, so what I understand is the effect of our success, the effect of the strategy that we carried out, has basically led us to a point where actually, the idea is not changing, but the execution of the idea is changing slightly, is that we are thinking slightly more ambitiously?

James Thorn: Yes.

Phil Argent: We are sort of thinking wider as opposed to narrower. But the other interesting thing is that the idea, from my perspective in terms of understanding the strategy, is that one of the things that I am circling around is that the idea is fundamentally so simple. We won’t just explain all of that idea, right? Is that fundamentally, the idea is so simple that it is something that touches quite a lot of people. Okay, so what-

James Thorn: [Crosstalk 0:05:19].

Phil Argent: What we are trying to do is the-

James Thorn: Solves one of the biggest problems.

Phil Argent: Yes, so the effect on our strategy is that we are trying to keep a firm grip of the original idea…

James Thorn: Yes.

Phil Argent: Whilst the idea expands. Now, that sounds to me-

James Thorn: Evolves.

Phil Argent: Yes, so that sounds to me like the whole thing seems to be coming out of the ground and mushrooming, as such. The idea still remains the same, but we’ve got this big umbrella of opportunity, and question, and strategy, that is kind of lurking over the top of it.

James Thorn: With all that going on, the only way we can make the right decisions, or go in the right direction, not only to grow our users but obviously, to provide a better platform for our current users, you know, that data just guides that way.

If we carry on getting users, and getting data back, the more data we get, well, dare say it, but the easier we’ll see what direction to go in next.

Phil Argent: Right, okay, but I’m going to say that I think that the more data we get, the more that would indicate the path, the direction of travel that we should go in.

James Thorn: Yes, yes.

Phil Argent: Sure, but at this early stage, that it is potentially too easy to look at the wrong data, let’s say, and looking at the right data is the question at the moment. Looking at the wrong-

James Thorn: Yes, and that is always a key point, you know.

Phil Argent: Looking at the wrong data, making assumptions around the wrong data, will lead us to basically looking at a different strategy that affects the business in a different way.

James Thorn: No, that is it, isn’t it? I know at some point, you have always got to make a decision, look at the data, and then make a decision on top of that, but the more data just only can make it more easier.

Phil Argent: Right, okay, so one last question about the effects on strategy, okay?

James Thorn: Yes.

Phil Argent: Now, I’ve got a view that basically, business success comes when there is a quite a lot of conflict in the opportunity, because the conflicts of a business is a business, a growing business, is one that is constantly in conflict because-

James Thorn: Yes.

Phil Argent: It is drawing down on resources. It is drawing down on options. As a business starts to evolve and become successful strategically, let’s say, that there seems to be, I think, quite a lot of decisions that have to be made very quickly, particularly in our case at the moment. Just the question, is there any conflict in the way you are thinking about the next 12 weeks?

James Thorn: I wouldn’t say so. I think we know what needs to happen over the next quarter, next 12 weeks. I think going further from there is where we really need to focus on a business plan, but I like to think over the next quarter that will become clearer and clearer.

My goal for the next quarter is just users, user count, agents, getting them on to the platform. From my perspective, that will then help the other elements of the business come together.

Phil Argent: Okay, alright. Okay, James, so that is it, I’m afraid.

James Thorn: That is it.

Phil Argent: That is a wrap. We have run out of time.

James Thorn: That is a wrap. (Laughter)

Phil Argent: Okay, so in effect, the summary is like this is episode five. We are getting traction on the platform.

James Thorn: Yes.

Phil Argent: What we wanted to do was just share some notes.

James Thorn: Some happy estate agents.

Phil Argent: Yes, yes, yes, fantastic, and some happy tenants.

James Thorn: And some happy tenants.

Phil Argent: Okay, alright, James, that is a wrap, man. Thanks very much.

James Thorn: Brilliant. Let’s go for it.

Phil Argent: Ta-ta. Take care.