Year 1 - 5 figures
Year 2 - 6 figures
Year 4 - 7 figures
Why? We knew the industry and knew the problems before we started. We had someone nearby who was desperate for a solution and confirmed they were willing to pay the high rate we were looking for. Technically, we had an interest in the types of technical problems they had and had spent years playing in those areas on side projects.
While working on an MVP we continued selling the vision to other prospects using nothing but balls and a PowerPoint presentation. We landed a second customer for year one and worked hard to keep them happy. Our MVP was barely that and we iterated based on the feedback we got from the first two customers.
Our fee structure puts us in a position where we only make money when our customers do. That makes it very easy to prioritize features based on how valuable they will be to our customers. This creates a nice tight feedback loop. When combined with our fanatical customer support, we have many die hard fans who do a lot of marketing for us in an industry where many of the prospects are good friends with each other and use trade shows as a chance to get together and drink with old friends and brag about the cool stuff they are using to help them with their business.
Comments
When?
Year 1 - 5 figures Year 2 - 6 figures Year 4 - 7 figures
Why? We knew the industry and knew the problems before we started. We had someone nearby who was desperate for a solution and confirmed they were willing to pay the high rate we were looking for. Technically, we had an interest in the types of technical problems they had and had spent years playing in those areas on side projects.
While working on an MVP we continued selling the vision to other prospects using nothing but balls and a PowerPoint presentation. We landed a second customer for year one and worked hard to keep them happy. Our MVP was barely that and we iterated based on the feedback we got from the first two customers.
Our fee structure puts us in a position where we only make money when our customers do. That makes it very easy to prioritize features based on how valuable they will be to our customers. This creates a nice tight feedback loop. When combined with our fanatical customer support, we have many die hard fans who do a lot of marketing for us in an industry where many of the prospects are good friends with each other and use trade shows as a chance to get together and drink with old friends and brag about the cool stuff they are using to help them with their business.