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Founders Institute - Revenue & Costs

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by

Justin Wilcox

on 7 April 2015

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Transcript of Founders Institute - Revenue & Costs

Justin Wilcox
@Justin_Wilcox
Customer
Dev
Labs.com
Revenue
&
Costs
Revenue Models
One-Time Payment
Freemium
Subscription
License/White Label
Ad-Supported
Sell to a Brand
Free product, pay for service
Pay per use
Donations
Affiliate Sales
Selling data
Which 1 is best for you?
1. They wanted too much $
2. Our tech wasn't great
Problems
Which revenue model would you pick?
How much should we charge?
Sell in App Store
First photo translator
What price point would you pick?
Supports 18 languages
What would you charge now?
Our Approach:
Freemium
First language free
$2.99 for all languages
Charge $1.99/add. language
Final Answer:
Paymium
App is $4.99
$3.99 for all languages
$1.99/add. language
Or was it?
Enter Word Lens
What would you charge now?
Our Approach:
Freemium
First language free
$2.99 for all languages
Charge $1.99/add. language
Our Approach:
Final Answer:
It's ok to not know
You won't know the best $
Hack, hack, hack
What if customers paid you to develop your app?
Seed Revenue
What if the problem you were solving was so compelling...
...customers paid for the promise
Partner with a Brand
Speaks translation for you
Costs:
Don't do it
Nothing you need costs very much
If it does...
hack it
$ is a precious resource
Customer Interviews
AYTM.com
Hustling is
free
Is $340 worth it?
Probably
Should you pay it?
No way
Wherever people are waiting...
they'll talk to you
Mechanical Turk
Marketing Campaigns
If you have to spend $ to get your first customers...
...
you will
fail
Bloggers
TV, Radio, etc.
Reporters
Social Networks
Cold calls
Free
Hack #7
Google News API
Conclusion
Revenue...
hack it
Costs...
hack it
Web Startup
where we messed up...
Mobile Apps
Crowdfunding
Hacking
stand up if...
a hacker
most
dangerous
stand up if...
person in the room
$
$
most
room
the
in
person
dangerous
lose
to
nothing
customers
investors
employees
marketing
legal
}
beholden
}
most
dangerous

person in the room
hacker
take risks
you
Hack #1
Hack #2
Hack #3
Wait and see
don't follow traditional rules...
most
dangerous
person in the room
13 launch articles
Hack #5
hacker
has
nothing

to lose
most
dangerous

person in the room
Hack #4
Crowdtesting
mTurk + Google News
2 Videos
How?
Branded Video
Hack #6
Business Models
1 Hack
2 Hacks
3 Hacks
Actionable
Hacktionable
4 Hacks
5 Hacks
6 Hacks
7 Hacks
Bounce Pre-Orders
Before the product built
350 Email Addresses
Full transcript