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6 Comments

Growth or profitability?

Yeah I know "ideally both" But right now I'm 3 months into NFT Hunt.
During month 2 i was focused on Growth and grew 50% that month >10% week over week.
During Month 3 I was focused on Profitability and was able to cover my server bills $30/month
I recently tried both the same time within the last 2 weeks and have grown about 5 % week over week and so far made $26

Should i substitute monthly ? or do you have any tips on combining both?

  1. 2

    Congrats on the launch and getting your first customers!

    Personally, I would recommend growing them users then monetizing once you reached a certain number. That was I did with my product: GrowthHunt.co

    I also have a couple case studies on the site on funnels and strategies to convert and monetize free users.

    Here is an example of an indie founder turning his onboarding funnel to a game and boosting his conversion rate to over 50%.

    You can find more case studies if you're interested. All the best!

    1. 1

      Thanks thinking of focusing on Growth once i reach 1,000 Users

      Also thanks for the links
      What acquisition strategies do you use?

  2. 1

    In my opinion, it sort of comes down to your personal finances. If you're not strapped for cash, grow baby grow. That being said it's most definitely crucial to have a plan in pace to monetize in the future.

    Drawing a line in the sand at 1K users and then flipping the monetization switch on makes sense to me - trust your intuition.

    You're also right on the "ideally both" piece...if you find it hard to focus on both simultaneously, one tactic I see a lot of indie hackers take is to split your week up. Spend 3 days on growth activities, 2 days on monetization. Multi-tasking is overrated!

    1. 1

      I figured i can break even within a week i.e $30 so the idea is to work on profitability first week of each month then within the next 2 and half week focus on growth then within 3 days look to get some form of profit will see how it works then post on IH :)

        1. 1

          Thanks for your tips :)

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