picking a revenue model

Step back from your project and clear your mind for a second…now without thinking about what you are already doing, or could be doing, think about this:

How would you like to make money? What would you like to be paid for?

Once you’ve got the answer for that, dig back into your project and start making a plan to connect the two.

Explore how the things you are doing now can or will eventually lead you to the answer you gave above.

Did you cop out and say “advertising”? Then it’s all about eyeballs and clicks…what are doing to ramp that up? How long is it going to take to get to the scale you need there? How much is it going to cost (yes, the dirty secret to making money via advertising is that you generally have to buy your way into it).

Did you say “subscriptions”? Then what experience do you need to provide to make it compelling enough?  How long is it going to take to get that experience perfected? How much is it going to cost to acquire a user (yes, the dirty secret to making money via subscriptions is that, like mail order, you buy your customers and profit from the lifetime value they bring you – so you better be planning an experience that keeps them around over the long haul if you intend to profit)

Did you say something else? Then you’re heading down a road less travelled these days…fret with questions and unknowns, but also lots of excitement and potential rewards…and I would love to hear about it and your journey (in the comments).

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This is the personal blog of Kevin Marshall (a.k.a Falicon) where he often digs into side projects he's working on for digdownlabs.com and other random thoughts he's got on his mind.

Kevin has a day job as CTO of Veritonic and is spending nights & weekends hacking on Share Game Tape. You can also check out some of his open source code on GitHub or connect with him on Twitter @falicon or via email at kevin at falicon.com.

If you have comments, thoughts, or want to respond to something you see here I would encourage you to respond via a post on your own blog (and then let me know about the link via one of the routes mentioned above).