44 lines
1.3 KiB
Markdown
44 lines
1.3 KiB
Markdown
YouTube video "Designing the Ideal Bootstrapped Business with Jason Cohen"
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# Make Sure There's a Market
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- get 20 or 30 people to give you a check for something that doesn't exist yet
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- because it solves a pain they have
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If you can't scrape together 75-150 customers over some months, it's never going to be a business.
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LinkedIn direct reachouts, AdWords...
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# Pricing/Value
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It must be valuable, so $70+/mo. on average.
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Use pricing tiers or a high price with coupon codes.
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Give bloggers coupon codes.
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If you're one person ("boutique"), don't hide it.
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Annual prepaid: essential. Take the money and re-invest:
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- better design
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- development
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- advertising
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There's a lot about pricing here, but the main point is that perception of savings is powerful: coupon codes, discounts for annual subscriptions. Also, price elasticity is lower than you expect. "Raise the damn prices." Double, then double again until sales go down.
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ARPU - average revenue per user
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Tiers
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- 3-4 tiers
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- a crazy big one, 'business tier'
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No free trials: money-back guarantee instead.
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# Type of Business
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B2B ONLY.
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Only recurring revenue, so no "sell to brides" or "services for event organizers"
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- continuous pain
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- continuous value
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A tool to handle ever-changing conditions, like SEO.
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Not real-time/time-sensitive.
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