We built an MVP, these are our KPIs after one year
by Miks UlmanisOur product:
Ligalio is a legal document generator for businesses. It allows entrepreneurs to create high-quality privacy policies for websites and mobile apps quickly. The privacy policy can be obtained in less than 20 minutes and is available in text and HTML format.
https://ligalio.com
Ligalio 2022 recap:
We did a lot of testing and improved our privacy policy generator. Here are some of our stats:
🚀 4.4k website visitors: top sources are Google (SEO + Google Ads), Indie Hackers and LinkedIn.
🚀 238 registered users: mainly from special promotions, incubators, events, and organic traffic. We also got valuable feedback from many of our early adopters.
✏️ €8500 prize money: during the last 12 months, we participated in 3 different startup competitions and in all of them finished in the top 3.
👢 100% bootstrapped: So far, our operations have been very lean, total investment €3k. It was possible mainly with state grants and local incubator support.
Plans for 2023:
➡️ Product market fit
➡️ Geo expansion
➡️ Revenue growth
➡️ Improve UX and branding
➡️ Fundraising
How did you do during 2022? And what are your big goals for 2023?
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1
Congratulations, that's great!
What strategies did you adopt to get results from LinkedIn and are you posting on any other social media platforms?
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1
Congrats! 🥳
My team and I will be taking our learnings from 2022 and turning them into a MVP app.
We were able to grow our client services during 2022 so as we head into 2023 we'll be turning our entry branding services into an app. Starting with an internal rapid prototype (will test with our clients from last year) then expand to an external prototype (will start onboarding clients we've gained this year).
KPIs include Revenue vs Costs, Tests w/ Feedback, Outreaches Sent, Blogs Posted, and Referrals
Primary goal is $300,000 in revenue (as we transition from services I'm hoping $50,000-$100,000 can be attributed to recurring revenue)
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2
Thanks!
It's great that you have an existing user base to test new products.
Interesting to see also the KPIs that you track. As I read in one of YC's posts, revenue must be the main metric. In the beginning, it might be tough to look at this metric, but with time it improves if you put in the work. 🤗
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