Questions

Where should I (developer) as a single-member software company focus my time & efforts to build a current business into a real one with employee help?

Specifically, this company sells WordPress plugins on a monthly subscription with continued updates, new plugins, and feature additions / ground-level feedback. As the only member and developer, my time over the past 2 years of it's existence has been re-building it's infrastructure & products over and over. We have 15-20 active customers who've continued using & enjoy the products, but growth has ceased and work piling up. I'm not great at sales, nor finding leads to begin with. My strengths are all tech-related; of the 2 marketing partners in the past, both bailed to do their own things. Can someone with experience in creating a software startup from $100-500/mo to hiring several employees with unlimited technical potential as the sole human asset share a blueprint, or the faintest hint at where to go from here? My passion to see it succeed has keep it alive (if $300~/mo counts) thus far, but it's killing me seeing it stagnate - especially when the product-providing muscle is free'ish. If you've got experience with this & solid advice to share, we can do a call(s) to get more detailed about it. Thanks!

4answers

My focus is business strategy and development, I am also a geek-at-heart! There are a few things to dig into to get rolling.
With your strength in tech - tap into virtual resources or even crowdsourcing to get the work done from a marketing and sales lead perspective leaving you to focus on what you do best.
I am happy to have a call with you to discuss steps! This is a critical time for your company and your passion is evident.


Answered 6 years ago

I am not sure I have any silver bullets, but would be more than happy to hear a bit more about your situation and offer advice. My company was in a similar situation a few years ago....so I can at least empathize.


Answered 6 years ago

I don't have specific advice about your specific question but do have some thoughts on deciding when to quit / scale or try something new (i.e. Opportunity Cost)

Most individuals make these decisions daily, but don't truly understand how to evaluate.

Here's my framework.

What's the potential upside? (Ex: $100K / year) x probability (20%) = 20K in potential.

If you think about that framework apied to other ideas like a new startup or getting a job, then you can better assess the opportunity cost.

For many people, making $40K/yr vs potential of $200K at 50% chance is actually more sensible then staying where they are at - but they decide to stay.

I always look at the opportunity cost of both new ideas + risk of distracting me from executing on existing tasks/projects - hence why I say "no" more now then ever (2 new babies + growing Startup)

Hope that helps.


Answered 6 years ago

You are WordPress developer so I assume you have well designed and well developed website. Have you seen any change in traffic patterns on your website ?

Take a step back and try to answer "Do my potential customers know about me?" "How will they find my product?". Answering these questions may open up options for what to do next.

Finally, read up articles by Neil Patel; he is a growth hacker worth reading.

Happy to talk further.


Answered 6 years ago

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