4 Signs Your Business is Dying

My talk from BaconBiz 2014.

I've written about this more here: https://baremetrics.io/blog/signs-your-business-is-dying

https://baremetrics.io

Transcript

1. 4 Signs Your Business is Dying & How to Revive It
2. Josh Pigford @Shpigford
6. baremetrics.io
7. Death / Revival How to spot it & what to do
8. Dying ARPU is < $20
9. Single-digit ARPU’s are a death sentence
10. Why?
11. Support
12. Support work is a cancer to progress
13. 1000 @ $3/mo
14. 30 @ $100/mo
15. High ARPU means less support for more money
16. Little money ! Little loyalty =
17. ARPU Comparison TrackThePack: $2
 PopSurvey/Temper: $30 Baremetrics: $65
18. Revive Charge More
19. B2B & <$20 Grossly undervaluing product
20. Won’t pay more? You aren’t solving a big enough pain
21. Dying Revenue ceiling is < $100
22. Good measuring stick for value
23. Can’t charge > $100? Not providing enough value
24. Low value means low loyalty & high churn
25. The more you can charge one person, the more you can charge the rest
26. Ceiling Comparison PopSurvey/Temper: $100 Baremetrics: $700
27. Revive Provide more value
28. Dying Churn is over 25%
29. 1 out 4 customers bailing is not sustainable
30. Not an easy fix Fundamental issue of low value
31. Churn Comparison Temper: 25% Baremetrics: 9%
32. Revive Increase engagement
33. More engagement means it’s less disposable
34. Dying 1 year and < $2000 MRR
35. Good indicator you aren’t solving a real problem
36. Not a time to suck it up and push through
37. Too many easier (and more profitable) pains to solve
38. Revive Lost cause
39. Change product offering, charge more or shut it down
40. So where’s the hope?
41. If you keep doing what you’re doing, you’ll keep getting what you’re getting
42. Throw as much as you can at the wall and see what sticks
43. Nothing sticks? Be honest with yourself and move on
44. Trudged away on PopSurvey & Temper for 3+ years
45. Baremetrics surpassed 3 years of work in < 5 months
46. Which would you work on?
47. Don’t waste your time on things that don’t make an impact
48. Josh Pigford @Shpigford josh@joshpigford.com
49. shpig.me/bizdying