February 2019 Income Report

04 Mar 2019

This is part 44 in my series of blog posts documenting my attempt to take Saber from Side Project to Profitable Startup. If you've not yet read the previous parts, you should definitely start from part 1.

Wow, so February was bad. I haven’t calculated all the figures yet, as I like to write this intro before I figure out the actual numbers, but I do know that for the first time since August 2015, I didn’t get any new paying customers at all this month. In fact, it’s the only time this has happened since I started working full time on Saber. I did, however, manage to loose three paying customers, so yeah, not great:

The Figures

  February 2019 January 2019 Change
Monthly Recurring Revenue $4,186 $4,303
Paying customers 54 57
- Personal Plan 15 17
- Startup Plan 28 29
- Corporate Plan 11 11
Unique users on landing page 956 1,065
New Free Trial sign ups 5 25
Free Trial sign up rate
New Paying customers 0 2
New Freemium Customers 2 6
Lost Paying Customers 3 5
Free Trial to Paying conversion
Free Trial to Freemium conversion
Profit £347.90 £211.63

What a shitty month. I’ve already mentioned the complete lack of new paying customers, so now I want to draw your attention to the number of new free trial sign ups. All five of them. I honestly have no idea what happened, traffic was about standard, I changed nothing on the landing page, yet for some reason, sign ups were abysmal.

I was focused so hard on the big update that I didn’t find time to do any blogging or promotion, but on the plus side, the new update is now live, so I can finally start focusing on marketing.

Revenue & Profit

Well, revenue is down again, and still hovering around the $4,200 mark. I think at this point it’s safe to say the $5,000 MRR goal by April is not going to happen, unless I can somehow grow revenue by over $800 in one month.

Goals

So while I didn’t do any blogging this month, I did get the big update live, and while there’s a couple of supporting things still to do, such as improving the onboarding process, my primary focus this month is marketing and promotion.

Thanks for reading

- Matt

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Continue to Part 45 - March 2019 Income Report

March was one of those weird months were very little happened. On the plus side I did get a new paying customer, and actually saw a tiny bit of growth, so March definitely kicked February’s ass.

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