#299 - Podsqueeze just hit $100,000 in annual revenue!

Wannabe Entrepreneur

Hey there! Have you ever wondered what it's like to reach a major milestone in your startup? Well, in this episode, I'm excited to share with you the recent achievement of my own startup, Pod Squeeze, hitting $100,000 in annual revenue. But it's not all smooth sailing. I'll be diving into the challenges we faced, including a decline in monthly recurring revenue and a 20% churn rate. To combat this, I'll be discussing the introduction of yearly plans with a discount. Join me as I reflect on the financial implications and potential valuation of the company. Plus, I'll be sharing an awkward moment with my co-founder and the valuable lesson I learned about navigating disagreements and leveraging each person's expertise. Tune in as I highlight the importance of discussions and compromises in co-founder relationships.

Links

Try PodSqueeze

Join The WBE Community

Sponsor the podcast

But WBE Merch

Buy The Bootstrapper's Guide

DM me on Twitter

Mentions

Tools, websites, links, books, and videos mentioned in the podcast episode:

Twitter: 00:01:24, 00:10:40

Podsqueeze: 00:01:24, 00:13:47, 00:14:49, 00:16:04, 00:17:07, 00:18:20, 00:19:30

Stripe: 00:04:01

Descript: 00:14:49

Zen Caster: 00:14:49

Spotify: 00:14:49

AppSumo: 00:18:20

Timestamps

Implementing features to mitigate churn [00:02:48]

Discussion on the implementation of features to understand and mitigate the 20% churn rate.

Introducing yearly plans [00:06:06]

Explaining the decision to introduce yearly subscription plans and the initial success of attracting subscribers.

First yearly agency plan [00:09:21]

Excitement over the first agency plan subscription, with a user committing to pay $1300 upfront for the product.

Reaching $100,000 in annual revenue and the potential valuation of the company [00:10:40]

Tiago discusses the recent milestone of his startup, Pod Squeeze, reaching $100,000 in annual revenue and speculates on the potential valuation of the company.

Comparing the financial benefits of entrepreneurship to a 9 to 5 job [00:11:46]

Tiago compares the financial benefits of running his own company and potentially selling it to the salary he could make in a 9 to 5 job.

Considering the possibility of selling Pod Squeeze and the reasons behind it [00:13:47]

Tiago discusses the advice he received from a friend about selling Pod Squeeze, the competitive nature of the industry, and the potential threats from big companies creating similar products.

Navigating Awkward Moments in a Partnership [00:20:42]

Tiago discusses the challenges of navigating awkward moments and the importance of growth in a partnership.

Managing Expectations and Autonomy [00:21:54]

Tiago reflects on his initial desire for his co-founder to focus solely on their startup and the need for both of them to have autonomy in their respective roles.

Defining Roles and Trust in a Co-founder [00:24:25]

Tiago discusses the importance of defining roles and trusting each other's expertise in order to make their startup succeed.