Vlog: The Road To 1K MRR

[enkay]

About 1.5 years ago I launched an invoicing web app called Simple Invoices. I didn't do much marketing other than telling a few friends about it but somehow it got picked up on Product Hunt anyway.

It has a few paying users and together they processed over a million USD in transactions during the month of September.

I want to grow this business and I've decided to document the process in a YouTube vlog. I've just released the first 3 videos and I thought people on this forum might find it interesting.

I'm open to feedback on both the videos and the website/app so please let me know what you think.

Here are the links:
The Road To 1K MRR: https://www.youtube.com/playlist?list=PLuGvAVaurcFsIdmtwxHdaryijoAmjQs0y
Simple Invoices: https://simpleinvoices.io

Thanks!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mistersam]

Hello enkay,

Nice initiative, i'll follow your video journey, hope you'll be regular.

Just one question : don't you think that your monthly plan is too cheap for the SimplesInvoices service ? Maybe you should offer another plan (25$ or 30$) with better functionalities...

Good luck

 

[enkay]

Hello enkay,

Nice initiative, i'll follow your video journey, hope you'll be regular.

Just one question : don't you think that your monthly plan is too cheap for the SimplesInvoices service ? Maybe you should offer another plan (25$ or 30$) with better functionalities...

Good luck

Thanks for the feedback!

Pricing is always a bit tricky. You don't want to leave money on the table but you also don't want to turn away customers. It seems like other invoicing services have their entry level plans in low 10s so I have to remain competitive. I also think it's a great value at that price and there is money to be made even at a $10 price point, it's another industry but about a third of Buffer's MRR comes from their $10 plan.

Source: https://buffer.baremetrics.com/plans

I would be interested to offer a more expensive plan but considering the product direction is to keep things simple, I was thinking of removing the branding at the bottom of invoices for a higher price instead of adding more features which would make the app bloated. That being said I'm not too eager to do that either as these "powered by" links can bring in quite a bit of referrals. I would have to measure that first and make sure that the referrals are not bringing in more than the increased price point would.

Source: https://www.groovehq.com/blog/powered-by

Let me know what you think of the content, whether or not you find it interesting, or informative, etc.

Thanks!

 

[eekern]

I will follow, cool intiativ !

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Tiago]

Looking forward to following your journey!