The major challenge currently we are having at Fueler is not being able to focus full time on building Fueler. Since we are bootstrapping through self-funding, our time goes out working with brands that pay our bills at the moment. Though we have stories around bootstrapping that went on to raise funds in some later years but initially they bootstrapped (eg: Github, Behance). Again this is a perfect use case for survivorship bias
Survivorship bias is the act of focusing on successful people, businesses, or strategies and ignoring those that failed.
Oh btw, you can learn about failed startups, you can find them here. You are going to love this.
We are yet to test out our unit economics, we have already tried the premium profile, and yes we have got upgrades but it’s not something we are happy with. Maybe it took us time to price the product and the offering we can put into different tiers.
Also, we are pushing towards having a core product that brings in cash flow, no matter how many revenue channels we have. Once we are confident with this, maybe that would be a green signal for us that our unit economics works.
Here’s a great framework for building a profitable business that survives on its own. The visualization below represents the total number of seed (idea) you come up with it and on each successive level, the seed goes on the become a tree that bears fruits for you.
I guess this almost is applicable to every sphere of life as in for us, among all the all the marketing channels only 1-2 will bring quality traffic for us that will eventually conversions
The typical steps are the following: