4 Signs Your Business is Dying

4 Signs Your Business is Dying

My talk from BaconBiz 2014.

I've written about this more here: https://baremetrics.io/blog/signs-your-business-is-dying

https://baremetrics.io

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Josh Pigford

May 30, 2014
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Transcript

  1. 4 Signs Your Business is Dying & How to Revive

    It
  2. Josh Pigford @Shpigford

  3. None
  4. None
  5. None
  6. baremetrics.io

  7. Death / Revival How to spot it & what to

    do
  8. Dying ARPU is < $20

  9. Single-digit ARPU’s are a death sentence

  10. Why?

  11. Support

  12. Support work is a cancer to progress

  13. 1000 @ $3/mo

  14. 30 @ $100/mo

  15. High ARPU means less support for more money

  16. Little money ! Little loyalty =

  17. ARPU Comparison TrackThePack: $2
 PopSurvey/Temper: $30 Baremetrics: $65

  18. Revive Charge More

  19. B2B & <$20 Grossly undervaluing product

  20. Won’t pay more? You aren’t solving a big enough pain

  21. Dying Revenue ceiling is < $100

  22. Good measuring stick for value

  23. Can’t charge > $100? Not providing enough value

  24. Low value means low loyalty & high churn

  25. The more you can charge one person, the more you

    can charge the rest
  26. Ceiling Comparison PopSurvey/Temper: $100 Baremetrics: $700

  27. Revive Provide more value

  28. Dying Churn is over 25%

  29. 1 out 4 customers bailing is not sustainable

  30. Not an easy fix Fundamental issue of low value

  31. Churn Comparison Temper: 25% Baremetrics: 9%

  32. Revive Increase engagement

  33. More engagement means it’s less disposable

  34. Dying 1 year and < $2000 MRR

  35. Good indicator you aren’t solving a real problem

  36. Not a time to suck it up and push through

  37. Too many easier (and more profitable) pains to solve

  38. Revive Lost cause

  39. Change product offering, charge more or shut it down

  40. So where’s the hope?

  41. If you keep doing what you’re doing, you’ll keep getting

    what you’re getting
  42. Throw as much as you can at the wall and

    see what sticks
  43. Nothing sticks? Be honest with yourself and move on

  44. Trudged away on PopSurvey & Temper for 3+ years

  45. Baremetrics surpassed 3 years of work in < 5 months

  46. Which would you work on?

  47. Don’t waste your time on things that don’t make an

    impact
  48. Josh Pigford @Shpigford josh@joshpigford.com

  49. shpig.me/bizdying