I have a great dashboard for showing sales, revenue, time to upgrade, etc. I love analytics. Luckily as well, the lifetime value of the customer isn't $9.95 as while I have only had paid options available for 1 month, already people are coming back and purchasing again, which means my lifetime value of a customer keeps getting higher.
As for est potential market I can say that just by looking at Google searches over 20k+ per month search for the product / thing I am offering. Obviously I don't rank #1 for all of these search terms plus it doesnt calculate the other methods. Honestly I wouldn't know any further on how to estimate the potential buyers, only that I am in a growing space and other companies worth millions are already in there.
Delegation, 100% agree with there :)
An unfair competition advantage is always a hard one to answer. The advantages I have at this point in time (but can be copied) are freemium model, feature set and future feature set. I am focussed on one particular aspect where as other companies in the space are spreading out to other areas, diluting their focus. As time progresses it will be harder to catchup to code wise but not impossible.
I put customer service above all else and due to this receive so much praise and recommendations which is why I am getting repeat sales and increased users. Again repeatable but they are unlikely to take customers as loyalty is certainly being built.
I love talking to customers, you are right they give such an incredible amount of information and I have tailored and improved my product because of this. Someone actually contacted me due to bugs in the software. After she was so blown away by the customer service she is setting up a rolling purchase order to use our service for their 17 local tv shows. I didn't even know but it shows that you should treat each customer with the same amount of dedication. She wasn't even a paid customer at that point either. Obviously once that is setup my income increase significantly but larger corps take so long to get these things rolling. (I know, working in them for so many years)
Haven't heard of pitching hacks but will certainly check it out.
The idea itself isn't new. I haven't invented something that no one already has (just yet anyway, coding the next move). The idea involves actually taking the current industry to the next level but requires I get all the basics done first, which is where I am almost complete on. I am suprised how quickly I got to this level actually.
Also as far as I am aware having researched many companies in the industry, I am the only 1 that can target multiple platforms on the web simulatenously. Most only target Facebook. I also only focus on 1 aspect at the moment. That is I suppose my strength in the market. And I am also the only one offering a solid freemium model which is why I am gaining quick popularity.
Actually I am working 100% on this startup, day and night. No other income. It is a fully setup company, family trust, pty ltd (similar to inc, in the US).
I have had job offers of over $200k but startup life is for me. Getting a job is lower on the list than going bankrupt :)
Thanks, I am currently working on the recurring revenue as my major priority. At the moment I certainly believe I must act on what will give me the revenue to help expand.
Thanks for the suggestion on AngelList. I assume you are talking about Angel.co - I just typed in angellist.com into my browser and it took me there. I will have a look around.
I have thought about outsourcing though am concerned since it's an in house developed product and I am working on it all the time I would prefer someone who I know and can trust and who is focussed on it and not freelance work.
However I dont have any experience in outsourcing small sections of a larger project, so a learning curve ahead if I choose that approach. Then if bugs appear the coder who developed it might not be available hence I would have to take time learning newly written code to solve issues.
Thanks for the book recommendation I will check it out.
Thanks for the suggestions. I am fairly good on everything. I may watch a movie at night and spend a bit of time exercising, family time as well. No game consoles, no fancy shopping (cash prohibiting there :) ). Other than that I work 7 days a week, and most nights. I have to have a break occassionally :)
Also just thought I would add so you could get better understanding of my business, is that other similar companies in the same industry have been funded by VC's.
So certainly a fundable idea maybe even more so as the others don't a significant recurring revenue stream due to their model.
It does have a lifestyle business aspect to it, but as stated they are people looking for the monthly option already. So there will be lifestyle + recurring revenue depending on the businesses needs.
I have a great dashboard for showing sales, revenue, time to upgrade, etc. I love analytics. Luckily as well, the lifetime value of the customer isn't $9.95 as while I have only had paid options available for 1 month, already people are coming back and purchasing again, which means my lifetime value of a customer keeps getting higher.
As for est potential market I can say that just by looking at Google searches over 20k+ per month search for the product / thing I am offering. Obviously I don't rank #1 for all of these search terms plus it doesnt calculate the other methods. Honestly I wouldn't know any further on how to estimate the potential buyers, only that I am in a growing space and other companies worth millions are already in there.
Delegation, 100% agree with there :)
An unfair competition advantage is always a hard one to answer. The advantages I have at this point in time (but can be copied) are freemium model, feature set and future feature set. I am focussed on one particular aspect where as other companies in the space are spreading out to other areas, diluting their focus. As time progresses it will be harder to catchup to code wise but not impossible.
I put customer service above all else and due to this receive so much praise and recommendations which is why I am getting repeat sales and increased users. Again repeatable but they are unlikely to take customers as loyalty is certainly being built.
I love talking to customers, you are right they give such an incredible amount of information and I have tailored and improved my product because of this. Someone actually contacted me due to bugs in the software. After she was so blown away by the customer service she is setting up a rolling purchase order to use our service for their 17 local tv shows. I didn't even know but it shows that you should treat each customer with the same amount of dedication. She wasn't even a paid customer at that point either. Obviously once that is setup my income increase significantly but larger corps take so long to get these things rolling. (I know, working in them for so many years)
Haven't heard of pitching hacks but will certainly check it out.
Thanks again.