PriceWell Open Startup

Share this post

Open Startup Report - September '22

open.pricewell.io

Discover more from PriceWell Open Startup

PriceWell is an Open Startup. Metrics are published monthly. Follow our journey to $10k MRR 🚀
Continue reading
Sign in

Open Startup Report - September '22

Matt Reid
Sep 26, 2022
Share this post

Open Startup Report - September '22

open.pricewell.io
Share

Hi all. We had our first negative growth month. Stripe released features that mirror our feature set exactly. A customer churned and explained that he could now do everything he wanted with Stripe alone. See later in the email for how we are going to fix this.


KPIs

Revenue Growth

-18.93% (last 30 days)

Churn Rate

23.3% (August)

Burn Rate

Cash: £776.49

Monthly Expenses: £84.42

Burn Rate: 9.1 months

How we're going to improve the numbers

Focus on the product. We need to build features that Stripe don't offer and can't copy. Luckily we get requests from customers for such features and here they are:

  • Proper gated content (a lightweight memberstack)

  • PayPal subscriptions (support paypal checkout from pricing tables)

  • PayPal subscription management (single place to manage subscriptions whether they were from paypal or stripe)

  • Paddle support

Right now we're going to focus on the top 3 and get them out as soon as possible before focussing on marketing them again. This means marketing activity is paused for the moment until the new features are live.

Share this post

Open Startup Report - September '22

open.pricewell.io
Share
Previous
Next
Comments
Top
New

No posts

Ready for more?

© 2023 PriceWell
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing