How do you know when to move on from a project that makes money?
How do you decide between working on an existing project or moving on to the next one? The current one I’m working on makes about $100 MRR, has been increasing about $10 every month, and I have a few ideas to make it better but the core functionality is already done. It’s really just more polish.
I had the hypothesis that I should start off with a base functionality of something better, like maybe $2-3k MRR, so polishing and optimizing makes sense (improving 10% of 3k makes a bigger difference than 10% of $100).
What do you guys think?
I’m just wondering if you’re absolutely sure the current project is as limited as you seem to think. It would be a shame to drop something prematurely, or that might work well elsewhere (adjacent market for example) or if explored in new directions or with different channels etc 🙂
Thanks! I gave the project about 6 months to 'rest', and I'm looking at it now with fresh eyes and ready to make a lot of improvements I couldn't see before cos I was too close to it. :)
I decide primarily based on the whether the solution that provided to the customer provides 10x return (here returns means not revenue but the emotional point, time & gratification). If I believe I can do it, I will stick to it otherwise I wlll go after another project.
I've launched my first project 4 months ago. So far, I was able to get ~100 paying customers https://apps.apple.com/us/app/bird-search/id1593852437 and still I've not given up because I know I can do much better than and can bring a difference on the user side.
I've launched my second project primarily for the sake of generating more revenue, I tried everything for a month and I failed it to generate any revenue. I felt I can't justify to that project on the solution side, so I had given up.
Cool!! Thanks for your perspective :) All the best with bird search.