Just over six months after reaching $1000, I have reached $2000 total income.
- 0 → $1000 – 18 months
- $1000 → $2000 – 6 months
Monthly revenue has still been growing slowly despite me breaking the installation flow in December and not realising until February. In this time I have also tripled the monthly price for new users from $2.99 per month to $9. There are other plans that I have in mind to provider further value for higher paying customers from $29 per month.
The value the customer gets from my product is now higher, and the bugs that were in there initially have been mostly removed. This means that charging higher is possible.
Considering the maths, if the goal is to make $1000 dollars per month that would be:
- 335 customers at $2.99, or
- 112 customers at $9, or
- 35 customers at $29
It’s obvious that you can earn more money by charging more, but looking at it clearly like that shows how much easier it is. At roughly 65 customers currently, and only growing by a few per month at the lower prices growth is way too slow.
Taking a job
I have also gone back to full time employment. This is not giving up on becoming financially independent, more of a pause.
It’s almost trivial to go into a job as a developer/engineer and make £50-60k per year, but making that much from a product takes a long time.