840 karma · joined January 11, 2009
It's based on facebook, it's one of the business challenges we are aware of, but can be extended to other social media websites and on the websites itself.
we are starting small and then we will replicate and expand as we go.
I can force a portion of users to do pay and check the percentage Of the churn rate.
I can't thank you enough!!
I like your approach and I plan to do it as a last resort. my point is that I expect at least 30% churn rate when I start charging my customers.
So I prefer to reach 1000 or 1500 sellers signups before starting charging.
$25 is too much for an emerging market like Egypt. I prefer to charge $5 or $6.
I need at least $25,000 to push this startup to it's real potential. It will give me 18 months, a point I would be able to monetize comfortably without worrying about churn rate.
After 18 months, and after burning $25,000... this is the point I would reach the break even point, and I might get profitable as well. It's well calculated! Ecommerce is booming in the middle east!
I am providing long free trial - up to 1 year! Still my sellers/users know very well they will be charged after a trial ends. I have 10+ paying customers.
It won't work if I get a job. I am working alone on this, and I have to work full time on this. otherwise I would not be able to achieve such progress!
I do everything! I code, I sell, I provide customer service!
facebook had a serious trouble monetizing it's service. so no revenue or monetization method is not enough for deciding that this business is not worth it.
This will have a negative impact of high churn rate for sure. But if I will shut it down, then churn rate would mean nothing - it will be shut down anyway!
my business model is charging 2 cents per order processed. Or $6/mo flat rate subscription.
The income is close to zero. I am charging nothing out of it.
Adam is the father of all humans according to Islamic beliefs and his son killed his brother.