GrowthHackingIdea - From a failure to $60K/m (study)

Today's hack
How Ionut managed to turn his failure into a $60K/m business...

Than he decided to create and sell WordPress themes.
After investing $10K and 6 months he was ready to close the whole thing down. But he didn't.
A few final experiments helped him achieve $60,000/month in 6 months.

Here they are:

1. He acquired another WordPress themes site on Flippa.com for $3,000. At the time, it was earning around $300/month. He improved the theme and increased revenue by 3 times to $900/month.

2. He acquired another free WordPress plugin for a few hundred dollars, and turned it into a freemium plugin. It resulted into $1,500/month in additional sales.

3. Then he increased prices 3-4 times. Result: his revenue jumped up to $5,000/month.

4. Then he bought the rights to use another already popular template for building a WordPress theme. Again he turned it into a freemium plugin. Result: his revenue jumped up to $20,000/month.

5. A/B testing, blogging and reinvesting in marketing helped him to scale his success and achieve $60K/month.

Sometimes it’s easier to buy something already cool and market/scale it than to invest in something from the ground up.

Source: medium.com


Cheers,
Charlie Patel ;)

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