317: Podscan, 2 months and $1k MRR in
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Episode Description
It's been two months of running Podscan at full speed.
Have I spent 6 figures of money yet? Well, you'll see in this week's update :)
This episode is sponsored by Acquire.com
The blog post: https://thebootstrappedfounder.com/podscan-2-months-and-1k-mrr-in/
The podcast episode: https://tbf.fm/episodes/317-podscan-2-months-and-1k-mrr-in
Check out Podscan to get alerts when you're mentioned on podcasts: https://podscan.fmSend me a voicemail on Podline: https://podline.fm/arvid
You'll find my weekly article on my blog: https://thebootstrappedfounder.com
Podcast: https://thebootstrappedfounder.com/podcast
Newsletter: https://thebootstrappedfounder.com/newsletter
My book Zero to Sold: https://zerotosold.com/
My book The Embedded Entrepreneur: https://embeddedentrepreneur.com/
My course Find Your Following: https://findyourfollowing.com
Here are a few tools I use. Using my affiliate links will support my work at no additional cost to you.- Notion (which I use to organize, write, coordinate, and archive my podcast + newsletter): https://affiliate.notion.so/465mv1536drx- Riverside.fm (that's what I recorded this episode with): https://riverside.fm/?via=arvid- TweetHunter (for speedy scheduling and writing Tweets): http://tweethunter.io/?via=arvid- HypeFury (for massive Twitter analytics and scheduling): https://hypefury.com/?via=arvid60- AudioPen (for taking voice notes and getting amazing summaries): https://audiopen.ai/?aff=PXErZ- Descript (for word-based video editing, subtitles, and clips): https://www.descript.com/?lmref=3cf39Q- ConvertKit (for email lists, newsletters, even finding sponsors): https://convertkit.com?lmref=bN9CZw
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AI-Generated Summary
Funding and Financial Overview
The host discusses the financial status of PodsCan after two months of operation. While the total funding amount remains undisclosed (noted as six figures), approximately $10,000 to $11,000 has been spent, mainly on enhancing server infrastructure to support AI and transcription features. The host shares excitement over the increased computational power brought in by the new servers, which have dramatically improved processing speeds and user experience.
Revenue Progress and Customer Retention
The conversation shifts to revenue generation, with the host sharing that PodsCan has crossed the $1,000 monthly recurring revenue (MRR) mark with a strong retention rate of 0%. Despite the current MRR not yet matching monthly expenses, the host is optimistic about profitability once the historical backlogs are handled. Future scaling toward an anticipated monthly expense of $2,000 is highlighted as the primary goal.
Customer Engagement and Learning
The host emphasizes the importance of engaging with customers through one-on-one conversations to gather insights and feedback on the product. By scheduling calls, he learns about customer experiences, challenges, and expectations, which aids in tailoring the product to better meet their needs. Insights from recent customer discovery efforts and meetings at a conference are shared.
Ongoing Challenges and Goals
The host reflects on the challenges faced in achieving product-market fit, expressing aspirations to improve customer awareness and sales strategies following recent educational talks. He also highlights want for refined customer profiling and attribution strategies to determine sources of customer acquisition more accurately. The dedication to improving product features and customer satisfaction is the concluding theme.
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