Road to 10k MRR
The 2022 Plan
Where it all Began
It all begins with a plan.
To be honest, I have no idea what I’m doing.
One of my recent “viral” tweets is exactly this point.
ps. follow me on Twitter.
And so, with a twinkle in my eye and full of optimism for 2022, I decided to boldly declare that my goal for the year is to hit $10k MRR.
It’s the last month of the year, which means it’s going to be the perfect time to start planning. So I’m going to use this page to document my plans and ideas as we progress throughout the year.
Part of this planning process is going to break down some major milestones and figure out how to get to 10k.
Hopefully this post will help guide others. Or at the very least, it’ll be a free and cheap way of documenting this entire process and for me to work through some of the steps to reach this goal “on paper”.
I’m going to outline a few things throughout this post to help understand where I need to go, some assumptions, etc.
So here we go…
Breaking it all Down
$10k MRR means 200 users on the $49.99/month plan.
But the prices will be increasing Apr 1, 2022 to $79.99/month. Let’s take the lesser of the two numbers for now and stick with 200 users.
At an average conversion rate of 3%. This would mean I’ll have to get 7,000 visitors to the website. Then at an average CTR of 1.5%, this means I’ll have to serve about 500k impressions.
Not too bad, actually.
Objectives and Key Results
Here are the OKRs:
- Automate more
- Build partnerships
- Acquire users
- Retain users
All of these ladder up to reaching 200 users.
There are several features that are still very manual:
- Account creation
- Access to OpenAI
- Headline and description approval (needs to be self-served)
I want to be able to automate the account creation process by end of Jan 2022. This will help onboard users much quicker.
To help with this, I’m planning to bring on a friend who will be the technical PM and manage a team of remote developers to build out these functions. Goal here is to bring on this friend by the beginning of the year and then onboard developers by mid month. Then that will leave two weeks for the developers to build the functionality out based on some of the work I’ve already done and existing documentation.
Once the automation and product roadmap is fleshed out a bit more autonomous, I can focus on bringing on a few more partners.
I’m super excited to be associated with Hustle Fund and able to offer SwiftAds to their portfolio.
Goal here is to get 5 users out of this initial partnership by Dec 31, 2021.