Okay! Refreshingly, the PTM Stripe account is showing over $100,000 total revenue since inception! This is an exciting milestone for a business that started with a nervous $5000 investment in a business development course online a couple years ago.
Here are some takeaways:
With regards to the Ups and Downs, I can't stress enough the power of just continuing. Not to be contradictory, but I'm also seriously considering taking the skills I've gathered (Marketing, Project Management, Start-Ups) in this project and applying them to a potentially even more lucrative endeavor.
Final lesson. Keep at things and allow them to grow—transform and transition as necessary. But be self-aware of defeatist attitudes and actions. They are never useful.
It's very clear that you only get so much out of producing things at a bootstrapped level with cheap or free resources.
The approach that seems to have worked best so far is to budget only a certain percentage of revenues for operational expenses. 30% is the number I've aimed for. I strayed from this heuristic in recent months due to extenuating circumstances but I'd like to return to it. It seems to offer a good way to balance wanting to invest more with acting responsibly with cash flows. Plus limiting the expense budget to a percentage of sales allows there to be motivation for increasing sales in order to increase expenses for qualities sake, while at the same time leaving increased cash profits to sustain the business owner.