How profitable is FeedHive at this very moment? 🤩
Let's break it down.
The answer may be surprising 🧵 👇
Let's break it down.
The answer may be surprising 🧵 👇
Let's do a snapshot at this very point in time, and take a look at how profitable FeedHive is!
In total, FeedHive has made:
$3,650
In total, FeedHive has made:
$3,650
That's great.
But let's take a look at some of the expenses.
We got @dan_spratling involved, and he's currently building a new marketing website.
It's really cool 🔥
But we also had to pay him for his hard work.
-$3,500.
But let's take a look at some of the expenses.
We got @dan_spratling involved, and he's currently building a new marketing website.
It's really cool 🔥
But we also had to pay him for his hard work.
-$3,500.
For FeedHive, we're using Crisp chat.
It's really adding a lot of value.
But of course, we need to pay for a service like that.
It's $30/month, and we've been using it for 3 months.
-$30 * 3 = -$90
It's really adding a lot of value.
But of course, we need to pay for a service like that.
It's $30/month, and we've been using it for 3 months.
-$30 * 3 = -$90
In order to develop professionally, we're using a GitHub Organization on the paid plan.
On GitHub, you pay $4 pr. member / month.
Since we have paid yearly for 4 members, we spent around $300 on GitHub so far.
-$300
On GitHub, you pay $4 pr. member / month.
Since we have paid yearly for 4 members, we spent around $300 on GitHub so far.
-$300
FeedHive runs on AWS.
We architected the solution really well, but of course, there are still server costs.
On average, we have paid around $1.6 / month in 3 months, so:
-$5
We architected the solution really well, but of course, there are still server costs.
On average, we have paid around $1.6 / month in 3 months, so:
-$5
Now, stuff gets heavy!
I canceled *all* contracts with my clients to go full-time on FeedHive.
I'm only gonna look at the current month.
I typically invoiced my clients $20K-$25K in total, pr. month.
Let's make it an even $20K, for the argument here.
I canceled *all* contracts with my clients to go full-time on FeedHive.
I'm only gonna look at the current month.
I typically invoiced my clients $20K-$25K in total, pr. month.
Let's make it an even $20K, for the argument here.
I stopped working as a consultant on the 10th of March, so I'm estimating a loss in profit of $20K / 3 * 2 = $13K.
So, total expenses:
-$3,500
-$90
-$300
-$5
-$13,000
= -$16,895
So, total expenses:
-$3,500
-$90
-$300
-$5
-$13,000
= -$16,895
So, we can now calculate the total profit of FeedHive at this very point in time:
$3,650
-$16,895
= -$13,245
$3,650
-$16,895
= -$13,245
Yup, that's right 😎
We're down with around $13K.
Whenever you see people posting their MRR, remember:
There's more to the story 😉
Do I still believe in FeedHive even though I've lost money so far?
Yes, I totally do 🚀
We're down with around $13K.
Whenever you see people posting their MRR, remember:
There's more to the story 😉
Do I still believe in FeedHive even though I've lost money so far?
Yes, I totally do 🚀
Alright - a small follow-up.
A lot of you are asking about the hosting prices.
The reason that it's very low, it's that I include two months of closed beta here, which pulls the average down.
In February we paid $3.74 in server costs, which is higher than the $1.6 average.
A lot of you are asking about the hosting prices.
The reason that it's very low, it's that I include two months of closed beta here, which pulls the average down.
In February we paid $3.74 in server costs, which is higher than the $1.6 average.
Additionally, we can't fully expect costs to increase proportionally as activity goes up.
Though, we're still very proud of how this is architected, and it's still a very economic solution 🚀
If you want more details, I break the whole thing down here:
Though, we're still very proud of how this is architected, and it's still a very economic solution 🚀
If you want more details, I break the whole thing down here:
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