$20K MRR in 5 mon. by a solopreneur (study)

On September 1st, 2014 Russ Perry was unemployed. No income. No business. Nothing.

On May 21st, 2015 he had a new startup that was generating $20k per month in recurring revenue.

Here's how that happened:
1. Came up with an idea - a flat rate subscription delivering unlimited graphic design help focusing only on small and clear creative requests.
2. Asked himself, “what price seems fair?” and $195 per month came to mind. That became his pricing.
3. On December 26th, 2014 he launched his simple website that cost him $88.82.
4. Focused on emailing new prospects, writing a dozen guest blogs, compiling contact lists of everyone he's touched over the last decade and beating the drum every single day.
5. That helped him to climb from $0 to over $6K in MRR in one week.
6. Invested $4,526.29 in a Facebook Ad: "Want a free graphic design? We will create a custom graphic for you within 1 business day (no credit card required)."
This ad generated 496 leads. 30 turned into paid customers. Which meant $5,850 in monthly recurring revenue = 633% ROI from the ads.
7. He implemented marketing automation with Facebook Custom Audiences and Infusionsoft so his sales system could be automated.

RESULTS:
In 5 months, his startup was making $20k per month in recurring revenue. At the end of the 1st year, they generated $300k.

As of 2020, they hit $14 Million ARR with 505 employees servicing 3,000 customers and 12,000 design requests per week. How's that for growth?

This type of success doesn't happen overnight. What small incremental steps will you take today to grow your startup or SaaS?

Source: blog.getlatka.com


Cheers,
Charlie Patel ;)



Your friend wants to get access to our invite-only community of growth hackers from companies like Uber, Google, Microsoft, TechStars, Disney, Adobe, Coca-Cola, Amazon, etc.? Here's your personal invitation link for him/her: http://e.growthhackingidea.com/?ref=2145324&a4=1&a5=9

---

Unsubscribe | GrowthHackingIdea / StartupGrowth.com | 1460 Broadway New York, NY 10036