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With revenue that is below your spending needs, how do you decide if you should invest more work into the product or move to something else?
by mixedbit 13y ago
With revenue that is below your spending needs, how do you decide if you should invest more work into the product or move to something else?
- thibaut_barrere 13y agoBasically I looked at my growth curve - and in october I understood that I was in the "learning to sell" phase thanks to Rob Walling (MicroConf Europe): https://www.wisecashhq.com/blog/images/build-learn-scale.png https://www.wisecashhq.com/blog/images/build-learn-scale.png At this point (and I discussed that with bootstrappers), the sane thing to do is focus on increasing the angle of the curve, learn how to sell better etc. My axis of progress include things like improving the copy-writing on the home page (not catching enough) to increase conversion rate, improve the sign-up process, offer free email courses (on how managing cash flow with WiseCash will affect your life for good) to people going by my blog, offer useful articles, etc. I split my time between freelancing and this work these days, and I make sure my company remains afloat by using WiseCash (which is fairly meta, when I think of it).
- simonswords82 13y agoYou should totally split test too, even if it's just basic things like button text, you'd be amazed what it can do for your visitor to trial conversions. I'd also recommend experimenting with not taking card details up front, and seeing what that does to your trial/sign up metrcs.
- thibaut_barrere 13y agoI plan to do split testing etc but after I rewrite my whole copy to make it clear what the value brought is. Thanks for the suggestion though.