BC STARTUPS
Saved by @zmbnski

Let's talk about defining a price for one-time payment products.

When I saw that @gumroad supported Pay What You Want, I had no doubt that this would be the pricing strategy for CSS Scan.

I'd always recommend PWYW with a minimum price instead of a fixed pricing. Why? [...]

 It turns out that some people just value your product more than others!

👉 With PWYW you're not only receiving the value that you expected but also donations for a good work.

Plus, with a minimum price, you'll at least earn the same amount you were supposed to if it was fixed.
💡 You only need 1 person paying more to already make it worth.

It's not easy, though. CSS Scan started at $1.99. It was selling like water, so I raised the price to $2.99, and after that, $3.99 - in about 3 days.

❗️ What I didn't expect was that 30% of people were paying more!
I realized that the price could still be higher by looking at the average of the sales prices. E.g., when it was $3.99, the average price of it was actually at $4.69!

I left it at $3.99 for 3 months. Based on the $4.69 average, 1 week ago I decided to raise it again to $4.99.
🧐 Now let's look at the data!

📈 Previous conversion rate: 6,5%
📉 Current conversion rate: 5,7%

It received 1403 views this month. Doing math:
(1403*6,5%)*3,99 = $363
(1403*5,7%)*4,99 = $399

🤔 So there's actually a growth in revenue
⬆️ $363 to $399
🎉 +$36 or +10% per month
About 30% of the people pay more for CSS Scan.

😀 76 paid more than $5
😮 63 of it paid $10 or more
😱 5 of it paid more than 5x the price ($20)

👼 And there's 1 person that was a true angel and paid $25 when the price was at $3.99 - that's ~630% more!
Based on the pricing at $3.99, the countries that PWYW worked more, by average price paid were:

1. 🇿🇦 South Africa: $5,09
2. 🇦🇺 Australia: $5,05
3. 🇺🇸 USA: $4.91
4. 🇫🇷 France: $4,52
5. 🇩🇪 Germany: $4.51
6. 🇮🇪 Ireland and 🇧🇬 Bulgaria: $4,49
Nowadays, it's $4.99 and the average price is at $5.69 so there may be still space for raising it, but anyway I think it has achieved a fair price. What do you think? Should I raise it? Let me know by replying this thread!
🙌 Lessons learned:

- PWYW can be a great pricing strategy for one-time payments

- A lot of people are willing to pay more for your work

- I think initially underpricing could work more than overpricing it bc lowering the price after people already paid more it's unfair IMHO
- If you're using PWYW, take a look at the averages to know if you can still raise the price 👀

💫 That's all for today!

🇧🇷 I'm a Brazilian indie maker and If you want to stay updated on my journey, follow me here, I'll launch a new product next month: Beachguide! 🚀
👉 CSS Scan is a browser extension to instantly check or copy the computed CSS of any particular element you hover over.

🙋‍♀️ More than 1288 developers are already using it!

🌟 Check it at:
https://t.co/qmNzkkHSIk

More from Startups

Andrey \uf8ff Azimov
Andrey  Azimov
@AndreyAzimov
The best way to know if people like your product is NOT:

- Have a lot of emails in the waiting list
- Become #1 on PH
- Become #1 of HN or Reddit
- Have people that saing "I'll pay"
- Have a lot of free users

The best way to know if they're actually pay for it.

The only thing that matters is your product providing a value, and you can't know this until people will pay money for it.

We can have a first signal of a product/market fit after the launch by check how many sales we've got in the first 24h. Some scale:

200+ This has a high potential.
100+: This has a potential.
50+: Some people need it.
10+: People almost don't need it.
0+: People don't need it.

This is for a single time payment product. For a subscription probably it should be less because people hate subscription.

And obviously, you should have a lot of traffic like 3-5k+.

Here is a stat for my products (macOS apps) for the first 24h after the launch:
STARTUPS
Corey Haines \U0001f4a1
Corey Haines 💡...
@coreyhainesco
There are some amazing founders and indie hackers that have made 🤯-worthy progress this last year.

The stuff you can do in a year is seriously astounding 👇

👉 @TransistorFM reaching $22k MRR in one year: https://t.co/BuKmXEeEtH

I was one of their first customers and the progress @mijustin and @jonbuda have made working mostly part-time has been crazy.

Now both are full-time. Follow them on @buildyoursaas

👉 @talk2oneup reaching $10k MRR in one year: https://t.co/SOoGkKA19r

@daviswbaer joined as a co-founder and through many different marketing tactics, pricing changes, and product updates, they've managed to carve out a niche market in a really competitive industry.

👉 @hostifi_net $9k MRR in one year: https://t.co/TknroGZWoK

After getting fired from his full-time job, @_rchase_ embarked on a year focused on building products to replace his salary in a year.

The dude seriously SHIPS and even took investment from @earnestcapital


👉 @ClosetTools $11k MRR WHILE WORKING FULL-TIME AND WITH A FAMILY: https://t.co/pKQ7pFvpZY

With a strong product, continuous improvement, and SEO, @unindie has really been inspirational.

There are no excuses.
STARTUPS
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Guilherme Rizzo
Guilherme Rizzo
@gvrizzo
✨ I'm building a crowdsourcing website to catalog data from all the beaches in the world!

Such as if the beach is dog-friendly, have free wifi or 3g coverage, what are the main activities there, and many more... 🐶📶🏄‍♀️

Let's build this in public (thread) 👇


🚀 After some code optimizations today, the Poll component is ready!!

👉 How it works: It's flexible and accepts different types of Polls, e.g.: Yes/No or Ratings (from Great to Really bad), etc...

🙋‍♀️ Users will be able to vote and the most voted option will be chosen.


🙌 Just had an amazing conversation with @rylandking we're partnering for a better world for beach lovers!

👉 You'll be able to find in-depth information for surf such as best spots, surf schools, and many more via SurfTripList!

SurfTripList+BeachGuide 🏄‍♀️🏖️🚀

💫 This is how BeachGuide is looking now on mobile, almost launching! Just need to finish the API and implement front end connections to it


Ps: logo its not mine and it will not be the official, only testing
STARTUPS
Tyler Swartz
Tyler Swartz
@SWARTZcenter
1/ Pro Tip: Best way to find a job at a startup…

Hint: it doesn’t start with a job board…

a thread

2/ Go to @crunchbase and set up a filter for the following:

1. Amount raised: $5M - $10M
2. Announced on: today - 3 days ago
3. Headquarters location: your preference
4. Investor Name: @Accel, @Greycroftvc, @Sequoia, @a16z etc...

It should look something like this.


3/ When a company raises money… they are going to use the capital to build out their team.

It isn’t rocket science!

4/ When successful venture firms with track records like, @Accel, @Greycroftvc, @Sequoia, @a16z sink money into a startup. Their chance of success increases astronomically.

5/ Filtering for recent fundraising allows you to get a pulse for when a company is going to add positions to their job board (if they haven’t already)
STARTUPS , STARTUP
Mac the VC
Mac the VC
@MacConwell
1/ I feel like breaking some rules today. Let's get transparent and have an open discussion about management fees in VC to help other emerging managers. The standard fee structure is 2% the size of the fund every year for 10 years or the life of the fund.

#vc #startups #funding

2/ This means if you are an emerging manager raising a micro/nano fund of let's say $10M, then you get $200K a year for operations. That $200K pays for legal, fund admin, accounting, expenses, and your salary. basically that 2% doesn't go very far

#vc #startups #funding

3/ This is in contrast to a larger fund, let's say $100M fund where 2% is $2M a year. This is why some LPs (those who invest in funds) are looking for smaller management fee which is unreasonable for micro funds which many diverse managers are raising

#vc #startups #funding

4/ Now at RareBreed Ventures we structured our fees to be 2.5% for the first 5 years and 1.5% for the last 5 years. This comes out to the standard 2% but front-loaded in earlier years

#vc #startups #funding

5/ This means when we hit our target of $10M (if you want to be an LP our min investment is 10K and you can go to https://t.co/dm6ywrNFnU). We'll have 250K for the first 5 years giving a little more cushion for operations and allowing me to bring on a hire

#vc #startups #funding
STARTUPS

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Neyyattinkara Krishna Kshetram
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Neyyattinkara Krishna Kshetram is considered as the Guruvayur of Trivandrum. Thrikkayyil Venna (butter) is main offering to Neyyattinkara Unnikannan. Kshetram is supposed to be built by Marthanda Varma.


Sthala Puranam says that, Anizham Thirunal Marthanda Varma was surrounded by his enemies, Ettuveettil Pillamar, while he was near the place where Temple is situated now. The king prayed to Padmanabhaswamy to protect him.  At that time, a small boy was seen there and he


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Hare Krishna
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Further Examination of the Motif near PRRA Reveals Close Structural Similarity to the SEB Superantigen as well as Sequence Similarities to Neurotoxins and a Viral SAg.

The insertion PRRA together with 7 sequentially preceding residues & succeeding R685 (conserved in β-CoVs) form a motif, Y674QTQTNSPRRAR685, homologous to those of neurotoxins from Ophiophagus (cobra) and Bungarus genera, as well as neurotoxin-like regions from three RABV strains

(20) (Fig. 2D). We further noticed that the same segment bears close similarity to the HIV-1 glycoprotein gp120 SAg motif F164 to V174.
https://t.co/EwwJOSa8RK


In (B), the segment S680PPRAR685 including the PRRA insert and highly conserved cleavage site *R685* is shown in van der Waals representation (black labels) and nearby CDR residues of the TCRVβ domain are labeled in blue/white
https://t.co/BsY8BAIzDa


Sequence Identity %
https://t.co/BsY8BAIzDa
Y674 - QTQTNSPRRA - R685
Similar to neurotoxins from Ophiophagus (cobra) & Bungarus genera & neurotoxin-like regions from three RABV strains
T678 - NSPRRA- R685
Superantigenic core, consistently aligned against bacterial or viral SAgs
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Trump is gonna let the Mueller investigation end all on it's own. It's obvious. All the hysteria of the past 2 weeks about his supposed impending firing of Mueller was a distraction. He was never going to fire Mueller and he's not going to


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Democrats & DNC Media are going to LITERALLY have nothing coherent to say in response to that.

Mueller's team was 100% partisan.

That's why it's brilliant. NOBODY will be able to claim this team of partisan Democrats didn't go the EXTRA 20 MILES looking for ANY evidence they could find of Trump campaign/Russian collusion during the 2016 election

They looked high.

They looked low.

They looked underneath every rock, behind every tree, into every bush.

And they found...NOTHING.

Those saying Mueller will file obstruction charges against Trump: laughable.

What documents did Trump tell the Mueller team it couldn't have? What witnesses were withheld and never interviewed?

THERE WEREN'T ANY.

Mueller got full 100% cooperation as the record will show.
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