In this episode I’m talking about the 4 levers you can pull to double your startup’s profits.
Sound too good to be true?
It’s really not rocket science! How much profit your startup makes will be directly affected by any of of these 4 things:
- How many downloads you get
- Your conversion rate from download to paying user
- The average frequency of purchase
- Your profit margins.
Doubling any one of these levers will double your profits, although you probably won’t be able to double all of them at once.
You can double 1, 2 or even 3 of them though! There is of course a spillover effect onto other levers, all of which add up to bigger money.
More of a visual person? Watch the episode with slides below…
In this episode I’ll cover:
- Downloads. How can you make people aware of your app and drive them to click ‘install’?
- Conversions. How do you convert app downloads into app $$$?
- Frequency of purchase. Whatever qualifies as a purchase in your app, I’ll go over some ways to get more of them!
- Profit margins. Increase your margins by either increasing customer value, or decreasing cost per customer (or both…).
Resources mentioned in this episode:
Enjoy the episode and let me know what you’d like me to talk about in the next one!
I’d also love it if you left us a rating and a review on iTunes :)
Where to go next
Listen to episode 7: 10 Important Lessons For Building Your Startup
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