From Rags to Revenue: 5 years of a developer startup
summary
Payments automation startup grows to A$160k/month, hires a fifth employee, raises 720k May 2020 and hits profitability in Nov 2021 while operating an API plus accounting-integration product that charges transaction fees. Development centers on a stable core built with IdentityServer, early traction comes from targeted surveys and cold emails, and growth only accelerates after hiring dedicated sales and improving onboarding. Mistakes include billing bugs and duplicate charges, fixed with refunds, process changes and a cash-flow spreadsheet.
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chapters (26)
- 0:00Start
- 8:22Dotnet Consultant
- 9:37Learn the Basics
- 11:21Benefits to Consulting
- 12:02Responsibility and Accountability
- 14:30Domain Knowledge
- 15:44What Do You Build
- 18:29The Business Model
- 19:30Pay-as-You-Go System
- 20:24Passion
- 21:07Competition
- 21:30Business Model Validated
- 26:03Giving Yourself Time
- 32:11Start Out with a One-Time Sale Product
- 39:27Sending Out Surveys
- 40:20Fears around Making Mistakes
- 41:02Duplicate Payments
- 42:53Ups and Downs
- 43:08First Xerocon Conference
- 46:57Emotion Tackling Strategies
- 50:54The Purple Cow
- 54:15Quick Tips about Raising Money
- 55:40Total Revenue
- 56:03Gross Profit
- 56:59Example of Attracting Investment
- 58:48Build some Relationships
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