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I think this greatly depends on whether you currently have 3 customers paying $100/mo, or 300 customers paying $1/mo. If it's the former, then getting to $10k/
by Guest19023892 5y ago
I think this greatly depends on whether you currently have 3 customers paying $100/mo, or 300 customers paying $1/mo.
If it's the former, then getting to $10k/mo seems possible. You have 3 people paying $100/mo, so there's a decent chance another 97 people are out there looking for your service, and you just need to focus on finding them. It also means you have a much higher budget for customer acquisition. You can burn $100 in ad spend to find a customer and quickly scale up.
Now, if you have 300 people paying $1, it's a more difficult problem. You need to find another 9,700 customers. Trying to acquire a customer for a few dollars is a far more difficult task, and likely not possible. You're also going to have a lot more support issues as you scale with such a large number of paying users.
I imagine you're somewhere in the middle. I'd start by finding my customer acquisition cost, and trying to bring that number down as low as possible. Then, I'd make sure the lifetime value of my customers is greater than the acquisition cost (potentially by increasing monthly rates). Then, I'd start dumping money into advertising and marketing and try to scale up. If these numbers don't work, then the business might not be sustainable.