November 2017 Income Report
November was only really a half-month for me, as Sophie and I went on our honeymoon. Even with my half-assed effort, revenue stayed pretty steady, only dropping into negative growth right at the end of the month.
The Figures
| This Month (November 2017) | Last Month | Change | |
|---|---|---|---|
| Monthly Recurring Revenue | $4,160 | $4,183 | |
| Income | £2,613.82 | £2,625.65 | |
| Expenses | £2,444.45 | £2,606.22 | |
| Paying customers | 65 | 62 | |
| - Personal Plan | 25 | 23 | |
| - Startup Plan | 31 | 29 | |
| - Corporate Plan | 9 | 10 | |
| Unique users on landing page | 1,781 | 2,299 | |
| New Free Trial sign ups | 35 | 35 | |
| Free Trial sign up rate | 2.0% | 1.5% | |
| New Paying customers | 6 | 2 | |
| Lost Paying Customers | 3 | 1 | |
| Free Trial to Paying conversion | 17.1% | 5.7% | |
| Profit | £169.37 | £19.43 |
The worst part of November was losing one of the top level $199 / month subscriptions, but I actually knew that was coming, this customer said from the beginning they only wanted to use BugMuncher for 6 months. I’m actually pretty happy that on a month where I spent half of it away from my laptop, BugMuncher still grew enough to (very nearly) make up the $200 deficit left by that lost subscription.
Unique users on the homepage was down a little bit, as once again I did zero marketing. I did start building a Google Adwords campaign at the beginning of the month, but I chose not to run it yet; If the campaign proved successful, I didn’t want to be dealing with a bunch of new customers and enquiries while on honeymoon :)
I will be running the campaign this month though, so I should have some results for next months income report.
Expenses
| Supplier | Expense | Amount | USD |
|---|---|---|---|
| Total | £2,444.45 | ||
| Me | Salary | £2,142.93 | - |
| Me | Home office allowance | £57.07 | - |
| Linode | Hosting | £38.80 | $50 |
| Digital Ocean | Hosting | £11.70 | $15.00 |
| SauceLabs | Selenium Servers | £54.35 | $69.00 |
| Pingdom | Uptime monitoring | £9.95 | - |
| Plusnet | Internet | £12.01 | - |
| O2 | Mobile Phone | £15.00 | - |
| Xero | Accounting Software | £33.00 | - |
| Snappa | Annual Subscription | £69.64 | $90 |
Once again, expenses was pretty standard, I’m not sure I’m going to keep detailing full expenses like this, as it doesn’t change much each month. Instead I may just list a total and detail anything unusual.
Revenue
The revenue graph has once again leveled off. For the last six months I’ve been stagnating around $4k - $4.5k mark, which coincides with my putting less time in to BugMuncher. As I keep saying, more effort = more growth, if only could follow my own advice.
Plans for December
Unsurprisingly the honeymoon got in the way of finishing the custom survey questions update, not that I’m complaining, the honeymoon was awesome. But back to reality now, in December I’m going to be getting that live and trying some PPC advertising.
Thanks for reading
- Matt