This is part 30 in my series of blog posts documenting my attempt to take BugMuncher from Side Project to Profitable Startup. If you've not yet read the previous parts, you should definitely start from part 1.
I’ll warn you in advance, this isn’t going to be my most interesting update, simply because I had a really busy month, and wasn’t able to focus as much time as I’d have liked on BugMuncher.
On a side note, it’s crazy to think this the 30th part in this series of blog posts, and that it’s approaching 2 years since I started working on BugMuncher full time. But anyway, bring on the numbers!
This Month (June 2017)
Monthly Recurring Revenue
Average Month on Month Growth
- Personal Plan
- Startup Plan
- Corporate Plan
Unique users on landing page
New Free Trial sign ups
Free Trial sign up rate
New Paying customers
Lost Paying Customers
Free Trial to Paying conversion
As you can see, really not a great month, in fact one of my worst. But unlike April, I don’t feel too down about it. It was a very quiet month, low page views, low signups, low conversions, and low churn. Although there was a very small amount of revenue growth, June felt more like stasis.
On the plus side, expenses are way down, and income and profit are way up. But that’s simply because I didn’t buy a new laptop this month, and an up front payment for 12 months reached my bank account.
Home office allowance
Barnstaple Work Hubs
This was a pretty standard month with expenses, I did buy myself a sandwich again, but it’s been a while since I last did that, and hey, a man’s gotta eat.
Unsurprisingly BugMuncher’s revenue growth has flattened off, and once again the 10% growth target is racing ahead.
Plans for July
I said last time that I’d like to write more blog posts, and I did. One more, and it was only a short one, but I’m calling that a success. I also hoped to launch the public API, and while I have finished the development of it, I haven’t made it live yet, so that’s a job for early July.
Other than that, I’m really not sure what my plans for July are. I feel a bit at a loss at the moment. I’m tempted to revive the custom survey questions update I killed a while back, but I’m also feeling a little burned out on BugMuncher. I might instead try to build a quick MVP of another project I’ve been wanting to try for a long time. A change is as good as a rest after all :)
Thanks for reading
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To borrow a phrase from Patrick McKenzie (or patio11 as you may know him), this month I put BugMuncher in to maintenance mode. This basically means I didn’t put much time in, and when I did it was only for customer support and bug fixes.