Olivier Truong

Notes: Jason Cohen @ MicroConf

  • 150 Customers. 10K MRR.
    • $66/month average
  • Think of yourself as a boutique business
    • Ran by one or two people, high quality, high prices. You want to support them.
  • Only do B2B, not B2C
    • Consumers don't like to spend money
  • Avoid businesses solving temporary pains
    • Requires point-in-time marketing: events, weddings, etc.
      • You have to catch customers exactly when they're looking for a solution. Really hard.
  • Good markets
    • naturally recurring
      • On-going costs to keep business running e.g. hosting
      • Related to financial cycles e.g. invoicing, reporting
      • Product that needs to evolve over time to keep up e.g. social media marketing
    • product can be finished e.g. winzip,
      • feature war == bad
    • after markets
      • there's an existing product/ecosystem that you build on/in
        • WordPress :: WooThemes
        • WordPress :: WPEngine
        • Photoshop :: AlienSkin plugins
    • big markets
      • you don't have to be #1 at anything
        • how many CRM companies are there out there?
    • In summary
      • Predictable acquisition
      • of recurring revenue
      • with annual prepay
      • in a good market
      • creates a cash machine -