Profitability For Startups

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Dev Cham

November 9, 2019

Smart Start Startup Smart Story

Your Business Model 

Be Less Adverse To Price Increases

If you have an freemium model, then raising price will actually increase your paid subscribers. It’s a sales booster. There is a fear of losing, and are afraid that price will go up again. Don’t change current subscribers.

Offer Premium As a Trial to Free Customers

Processing payment once a year vs. few times a year. You will save on transaction fees. Small but still good, specially if you scale.

Freemium Gets The Word Out

A freemium model when is useful really gets the word out. This is when your product is appreciated by the influencer.

Saving Money – Even Small –

Processing payment once a year vs. few times a year. You will save on transaction fees. Small but still good, specially if you scale.

Cheaper Marketing With Giveaway

Giveaway a promotion that is tied to increasing subscriber instead. If you share with your friend with your referral code – we will put you in the giveaway funnel.

Be Careful – Know Your Legal Rules

Like for example: Area in Canada requires giveway’s to be written in French as well. France requires reimbursement for postage or internet usage.

Intuition Driven to Data Driven

Need to figure out when to start switching from Intuition Driven to Data Driven.

Five Magical Moments

Think of five 5 most magical moments in your customers initial journey.

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