Is growth better than revenue?
Is growth better than revenue?
Every entrepreneur is different and they have different visions for the businesses that they are building. I do believe that there’s no one specific way of achieving business success, but there are certainly some principles that bring you closer.
I was talking to another tech entrepreneur last week and he has a successful Amazon FBA business. Alongside this, he created a SAAS product and has been trying to grow it.
He has the free version of the product out, and it has some users too but there’s no revenue to speak off.
We had a chat about his business plan and he revealed that his target was to grow. Grow, even if he had to give away his product for free. He’d try to make money from it in other ways once it had sufficient presence.
That shocked me a little. Probably like me, you’re a bootstrapped entrepreneur too. You are here because you want to provide a service and get paid. If you don’t get paid for it, you want to stay out of the market.
I do have free versions / trials of some of my apps. First, I design the complete paid version with all features, and then I think about what I can remove to afford to give away a part of this app free.
This entrepreneur did the opposite. He designed the free version and is figuring out what to offer to get people to pay.
Pretty counter-intuitive, eh?
It doesn’t agree with my work principles. He may find it too late that people don’t want to pay enough for his product, or worse, at all.
If you’ve already sunk a lot of time and money to create a free version and you have no fair idea about how the final service must look, there’s a big chance you will never get to it.
‘Product Market Fit’ is something you look for while you are selling the product.
At least that’s what I’ve been doing all through my marketing.
How do you structure your lead marketing? Do you get your users through a free giveaway? I do that all the time and it works. Give away a nice tool or product for free to attract leads, but sell to the leads right away.
Make money up front, finance your marketing with the money you make.
That’s the simple and most effective business model, anything else just increases your chances of failure.
Let me know your opinion on this.
CourseFunnels - $25 discount going away today
CourseFunnels now has AI!
CourseFunnels is the most powerful and easiest-to-use coaching software for you. You can build your entire coaching business online with just CourseFunnels. All you need is an idea and some content.
CourseFunnels handles everything you need to do to run your coaching business
> Create a great-looking study area for your students
> Create sales pages and funnels for your courses
> Do email marketing to your students
> Grab leads and do course/content giveaways
> In-built AI Content Creator
CourseFunnels makes everything very easy.
Not to mention it has access to dozens of free plugins from the CloudFunnels marketplace.
You could be paying 10 times for a competing product and not getting the same value that you get with CourseFunnels.
Time to stop doing that!
Go here - https://getcoursefunnels.in
Special : Get $25 off with the coupon - cEvzhK8EhWnB. Going away today.
Got questions? I have you covered with round-the-clock personal support. Just talk to my online chat guys (people, not bots).
This is a limited-time offer. So grab it now before it goes away.
Cheers!
Your best friend in the business
Cyril “Jeet”
Of Teknikforce
