Lifestyle.io - News and discussions on bootstrapping and lifestyle businesses
  • 3 min read on blog.asmartbear.com with 7 comments by jmcgra about 4 years ago
  • Interesting that he essentially suggests what Amy Hoy does, which is to continue consulting to inject cash into the business.

    I know many of us in the consulting biz are doing products as a way to get out, but I've heard time and time again that it takes significant amounts of time to scale up recurring revenue. You know, the long, slow, SaaS ramp of death: http://businessofsoftware.org/2013/02/gail-goodman-constant-contact-how-to-negotiate-the-long-slow-saas-ramp-of-death/

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    Another important thing he points out is how important it is to find a way to spend $X on marketing to get a $X+Y return.

    p.s. that video was great, half way through it now.

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    Yeah, his numbers are way higher on individual performance than I'm used to people talking about. Are our expectations too low, or his too high?

    Glad the video was useful to you! I'm hoping one day I can build out a "resources" section of this app which has not just news, but all-time best talks, slide decks, software, etc. That's the dream, anyway.

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    Yes, when he said "spend X and get 4X return" I thought "don't discount getting 1.5X people!".

    That video also reminded me of a good article about I read by Gabriel Weineburg (of DuckDuckGo fame) about how what moves the needle now, will not always move the needle in the future. The point being that as your numbers increase, things that were worthwhile in the past start to be irrelevant to your growth. I'll post it as an article.

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    and +1 for resources section!

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    I'll try to get that going ASAP. I've been working on some improvements here this weekend, including caching, for an impending series of interviews I'm going to be posting. I'll be posting this to Show HN around that time.

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    I do like the idea of injecting cash into the business with consulting at first, but it seems like there comes a point where consulting is no longer necessary and having a variety of products works well (SaaS, books, workshops, etc). That sounds very appealing to me.

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