43 lessons growing from $0 to $1+ million in revenue, twice, by Joseph Walla of HelloSign and HelloFax
Stashed in: Monetization
Top 2 are the best:
1. Charge for your product as soon as possible. Really.
Every founder I talk to has a good reason for not charging for their product and it’s usually a bad reason. I remember office hours with Paul Graham. We explained that we were focusing on product now, but would focus on revenue later. He was confused, that somehow we saw a tradeoff between focusing on product and focusing on growth. Building product should equal growing revenue. People show they value your product by paying for it.
2. Revenue tells you what features to focus on
Charging is a powerful indicator that you’re building something people want. If you’re not charging, you’re likely spending money (development time = money) building features your users don’t really want. People who pay you have opinions about what to build next. Making them happy will lead to more people like them paying you (with this caveat: Don’t build a Galapagos product)