Revenue was $3,682 for the month of October. Profits were negative. 💀
Indie Worldwide revenue was $3,682 for the month of October 📅
$2,000 sponsorships
$1,682 membership dues
Expenses $2,486.24
Profit $1,195.76
But then I had to pay my 2021 tax bill...
💀💀💀
October was a scary month indeed.
What’s costing me $2000/mo? 😱
Paying freelancers for graphic design, video editing, marketing tasks, and data entry.
This month will stop or reduce all of the above.
Still paying for too many software services on top of that which I'm in the process of auditing/canceling.
What is Indie Worldwide?
It's a membership club for bootstrapped startup founders.
You tell me a bit about yourself, and I introduce you to other members on a weekly basis.
You also get access to the most badass slack group on the internet and $20,000+ in freebies and discounts.
Indie Worldwide only recently became my full-time business.
Up until a couple of months ago most of my revenue came from freelancing which subsidized the community.
After auditing my expenses for the last couple of months I've realized that I need to be much more disciplined about spending now that this is my primary source of revenue.
My goal for November is to at least break even...
❌ Cancel unnecessary expenses
❌ Stop high-effort/low-reward tasks
✅ Simplify product offering
✅ More marketing
Happy Halloween! 🎃
Super awesome post, Anthony. Thank you for sharing. I was through a process last month where I cut down on a lot of my expenses, moved my hosting, etc. - it's a healthy process, and it shows you a lot of great alternatives for a better price or free.
Let me know if you need any help with finding alternatives, I've reviewed quite a lot of marketing tools 😅
Thanks Phillip, any tools in particular you've found to be a great value?
It depends on your use case 🙌 Tell me what tools you're using or looking to replace, and then I'll give my input.
My favourite tool at the moment is Gleap.io
I'd love to learn more about where you hire people and the % split between your expenses (e.g. graphic design, video editing, marketing tasks, and data entry). I'm looking to outsource some of my tasks and I'm unsure with what to start with.
Video Editing: reached out to me via Twitter, paid ~$100 per podcast recording for video + audio editing
Graphic Design: was a member of Indie Worldwide already, saw their launch post and decided to buy. $400/month unlimited designs.
Marketing Tasks: Also discovered through Twitter, ~$600/month designing a marketing campaign and working on our positioning/copy/landing pages
Data Entry/VA tasks: $13/hour off of Upwork. You can definitely hire people for much cheaper, but they're usually not as detail-oriented or efficient. Have worked with this person repeatedly over the years.
All of these are relatively good deals IMO, but it's not an efficient use of money at my current run rate.
I’d love to see how we can reduce your costs significantly using AI. I did this for a $2.5B+ I’m positive we can do it for you! https://cuanto.io
I just need to cancel shit I don't need, don't really need an AI to tell me that, but thanks 😅
I feel that on a deep level 😂
@AntCas You have done right, and hope you will get the result, and your MRR will be positive in November.
What is your customer churn rate means is your customer leaving your product fast?
If this is with you can, you can win back your customer again and fast by retaining them for free.
https://churnfree.com/ is a tool that helps businesses grow and retain their customers. You can test this product for your product they are offering a 14-day free trial no card is required for the signup.
I hope this tool will help your business growth because it helps many others and can save up to 46% churned requests.
Best of luck with the November Goals!
Thanks Bucky I'll check out your tool
sure you will get the positive result you may know most of the business are flob because of not focusing on the previous customers.
flob?