Sounds like you built a nice cash machine.
What’s the business?
Available_Ad4135
joined 1 year ago
Cash-E! or e-cash
Like e-mail, but for cash - potential tagline!
It sounds like your paid marketing spend also got out of control as you scaled.
This is more a relationship question than a business question.
Both ways can work. You have different opinions on this particular topic.
It’s more cause for concern that you are unable to resolve your differences and compromise. Especially at this early stage when things are ‘easy’.
You should pick the thing you’re best and just focus on becoming brilliant at that one thing.
Once you are really an expert in one in demand skill, charging a $100ph for remote freelance work is quite possible these days.
Keep it. You said you closed it down?
Surely it would have been better for sell for something than keep nothing.
Didn’t you consider selling to a party who believed it could scale aggressively?
I looked at purchasing a furniture e-commerce business recently. It caught my attention with 1.5M in sales and 50% gross margins.
When I dug into the figures, revenue had declined from a peak of around 3M and was currently losing 250k per year.
The lesson: Find a profitable business model you can scale. Scaling without profitability is a waste of time and money.