October 2017 Income Report
It’s doing that thing again. The universe. It’s doing that creepy karma thing.
Having had a bad September in which I didn’t really work much, I’ve spent most of October really focusing on BugMuncher. The thing is, I’ve been working on a big new feature that isn’t live yet, so to the outside observer it looks as if I’ve not been working on BugMuncher at all.
And yet, I finished October up on September. This exact thing previously happened in May this year, and once again I can only conclude that the universe knows if I’m putting the time in on BugMuncher and rewards me accordingly:
The Figures
| This Month (October 2017) | Last Month | Change | |
|---|---|---|---|
| Monthly Recurring Revenue | $4,183 | $4,014 | 4.2% |
| Income | £2,625.65 | £2,687.39 | 2.3% |
| Expenses | £2,606.22 | £2,617.31 | 0.4% |
| Paying customers | 62 | 61 | 1.6% |
| - Personal Plan | 23 | 22 | 4.5% |
| - Startup Plan | 29 | 30 | 3.3% |
| - Corporate Plan | 10 | 9 | 11.1% |
| Unique users on landing page | 2,299 | 2,702 | 14.9% |
| New Free Trial sign ups | 35 | 23 | 52.2% |
| Free Trial sign up rate | 1.5% | 0.9% | 66.7% |
| New Paying customers | 2 | 6 | 66.7% |
| Lost Paying Customers | 1 | 9 | 88.9% |
| Free Trial to Paying conversion | 5.7% | 26.1% | 78.2% |
| Profit | £19.43 | £70.08 | 72.3% |
Despite bringing a decent increase to MRR, October was a very quiet month, with only 2 new paying customers, one churned, and one upgrade. Interestingly, it was a great month for free trial signups, and a shitty month for trial to paying conversions. This is especially surprising considering I’ve not changed anything in either the landing page or the on-boarding process.
I like to joke about the universe conspiring to make me work hard, but I think the real truth is the numbers involved are too low to ever draw a meaningful conclusion. This month is a perfect example of that, as without that single Startup plan to Corporate plan upgrade, MRR would have actually been down on September.
Expenses
| Supplier | Expense | Amount | USD |
|---|---|---|---|
| Total | £2,606.22 | ||
| Me | Salary | £2,142.93 | - |
| Me | Home office allowance | £57.07 | - |
| Linode | Hosting | £38.49 | $50 |
| Digital Ocean | Hosting | £8.17 | $10.00 |
| SauceLabs | Selenium Servers | £53.49 | $69.00 |
| Pingdom | Uptime monitoring | £9.95 | - |
| Barnstaple Work Hubs | Co-working Space | £180 | - |
| Plusnet | Internet | £12.01 | - |
| O2 | Mobile Phone | £13.51 | - |
| Xero | Accounting Software | £33.00 | - |
| TTCA | Accountants | £57.60 | - |
Revenue
It’s nice to see the revenue graph heading in the good direction again, I was starting to worry that my hockey stick was upside down. Now if I can just break the $5k MRR milestone.
Plans for November
I spent October working on the custom survey questions update, unfortunately I had to re-write a lot of what I’d done previously in order to overcome the issues that caused me to abandon the update last time. I’m hoping to have it live by the end of November.
Thanks for reading
- Matt