Week 83 - $5000 Monthly Recurring Revenue
Posted on by Angus Cheng
On October 21st monthly recurring revenue (MRR) exceeded the $5000 USD mark. We hit $4000 MRR on September 12th, so it took only 40 days to earn the last $1000 MRR. If MRR continues to grow at this speed, we should hit $6000 MRR on December 1st 2022.
Plumpbirds: We’re getting tired, we don’t want any more MRR.
Last Week’s Goals
✅ 1. Contact 100 users
I emailed every user who signed up in the previous week. Sadly I only got three responses. Next time I do this I’ll write a different email.
❌ 2. Cloud Accounting Software Research
I started doing this, but it was such a slog I really wasn’t in the mood for it. To get around doing this, I placed a job ad on Upwork for this work.
I picked one of the applicants on Friday, and they haven’t started work yet. So this task rolls over into this week. I’m curious to see how they get on with this. I did some research on two of the APIs, so I’ll be able to tell if their report is correct.
✅ 3. Get that API customer
Negotiations with the new API customer are still going on. They haven’t dropped out, so I’m marking this as a success. The name of this task isn’t very good though. It should be Don’t Lose that Prospective API Customer.
❌ 4. Share for credits
Last week I was feeling confident about the “Refer Friends” feature. I thought it was going to lead to an explosion of users. I was so confident about it that I changed the “Out of credits” error message from “You are out of credits subscribe to continue” to “You are out of credits, refer friends or subscribe to continue”.
People used the feature, but they referred themselves instead of their friends. This new “flow” led to a massive drop in purchases. I ripped out the feature after five days. I still think this Share for Credits feature is not bad, but now I suspect it’ll be used once or twice a month. It’s worth doing, but perhaps not at the moment.
❌ 5. Style this Blog
If you read the blog last week, and are reading it again this week, you may have noticed it has not been restyled. This is because I hired someone on Upwork to do this, but they ghosted me. I just hired someone else to do this, let’s see how they do.
✅ 6. YouTube Video
- First National Bank documents weren’t being identified properly
- Fixed issue where records were missing from CIMB Bank documents
- Fixed issue where decimal places were missing from ICICI documents
- Fixed a crazy TD Bank issue where “Service Charge” amounts can be positive
- Fixed an issue where numbers were being chopped off for Community Bank documents
- Enriched the year for date values in Desjardins Bank
- Filtering out junk data from Desjardin Bank documents
This Week’s Goals
1. Cloud Accounting Software Research
Rolling this over from last week. This is just watching someone to do the research for me.
2. Style this Blog
Rolling this over from last week. This is just watching someone to do the styling for me.
3. YouTube Video
Make another YouTube video. Not too sure what this one will be about though.
4. Fetch PDFs from your Internet Banking
I’ve been working on some code that will automatically logs in to my internet banking account and downloads my PDF bank statements. The idea is, if that can be done, then it should be possible to build a tool that can get my last five years of transactions from my internet banking portal.
HASTA LA VISTA BABY