we should talk less about revenue and more about profit.
revenue is the vanity metric of this era.
it looks great in a headline. it makes for a good tweet. “we hit $10m ARR.” but it rarely tells the truth.
Having a prototype is 10x more valuable than a design. Having a design is 10x more valuable than having a little doc. Having a doc is 10x more valuable than having an idea in your head.
It's always cool to be able to share these kinds of projects we do at Wrap My Bike!
Running a services business is way different, compared to running a platform or website. Still learning every day.
When a customer tells our #wrapmybike designer that they have 'carte blache', but it has to be flashy... 🤩
Did our designer hit the mark with this Doodle Art wrap, or what?
My #Wrapped2023 podcast top 5
Mostly interested in business, tech, science & sports (even though the latter didn't make it into top 5)
Big fan of the 'no small boy stuff' mentality. Keep doing what you're doing @ShaanVP & @thesamparr
I'm aiming for the top 1% next year 😉
The silent global pandemic: overweight & obesity.
With +50% of EU adults being overweight, it's not going in the right direction for Europeans either.
The micro and macro economic advantages behind a healthy population are undeniable. Let's all eat better and exercise more! 😉
🇺🇸🍰 75% of the US is now overweight and it doesn't seem to be stopping anytime soon
Interestingly, it seems to almost directly correlate with rising incomes since 1975
Added this ⚖️ data to my site now:
https://t.co/NyasLqC7Cd
@wattsinabox_eu Some headaches that come with subscription boxes: inventory mgmt, original box contents, production planning (lead times (3-4m) > box drops (2-monthly)), high startup costs due to lead times, design & variety, customer retention, high CAC (no LTV to go from at the start), ...
Amen 😅🪦
Extra founder graveyard ideas:
- To-do list/agenda/better email client app
- Subscription box (in hyper niche markets)
- App for booking co-working spaces/business travel
- Fitness app
- App for car sharing
- Virtual business cards
- Copywriting tool on top of GPT API
There are some ideas that are graveyards for founders
- Marketplace for homemade food
- App for event discovery
- Social network around interests
- App to aggregate medical records
- Booking site for medical tourism
- Personal CRM
What else?
inb4
We started @wattsinabox_eu out as a subscription performance cycling socks business, but already pivoted to pure e-commerce after just a couple of months.
I think subscription offerings can add to your e-comm's baseline, but very hard as a standalone business. (1)
@SullyOmarr It feels like the output is worse whenever I see the T icon while ChatGPT is formulating its answer. I also feel like it has a harder time keeping its identity and role (if you've defined one) when you chat during that time.
Learned to ship almost anything for Wrap My Bike at @nohandlebarsco the last couple of weeks
12 freshly wrapped Abus Gamechanger helmets? No problem.
Next step, worldwide shipping for the WMB skins!
After being acquired by a big corporate, I had forgotten how fun entrepreneurship is.
Getting my company back and running it my way has been worth every penny and sacrifice.
Now, @nohandlebarsco might not work in the end, but at least I'll fail on my own terms.
Stay hungry! ;)