It’s been a year since Bidsketch launched and it’s now able to replace a fair amount of my salary from my day job as a web development manager. It’s both exciting and nuts considering my first-year-goal was to simply hit 2k in recurring income. I’ve easily surpassed that goal but things are going to get tougher soon if I don’t make some major changes.
I’ve reinvested most of the revenue back into Bidsketch so I haven’t put much away into my savings account. I’ve also gotten kinda sloppy with my monthly recurring business expenses by adding services I truly don’t 100% need to keep my business running. I’m going to be changing that now. I’ll be slimming down my expenses and stashing away as much cash as I can for the next few months. Monthly recurring expenses have already been cut and my car is up for sale at the moment (getting rid of my monthly car payment).
At the same time I’ll be wrapping up a major missing feature and then focusing all of my efforts on the marketing side of things. Things are going to get pretty exciting in the next couple of months and I can’t wait 🙂
[…] This resulted in a small increase in traffic that day and a few extra conversions so I was initially bummed. The surprising thing about it was that this increase in conversions has been pretty steady for about a month and has given me nice increase in recurring revenue. I’ve now hit a level of revenue that can pay all my bills being that I’ve cut down on a lot of my expenses. […]