How We Made $2.3 MILLION In New Recurring Monthly Revenue and How You Can Benefit from Our Success.

How We Made $2.3 MILLION In New Recurring Monthly Revenue  and How You Can Benefit from Our Success:

We launched a brand new product in September, which is by far the biggest thing we’ve done since launching UniBul How We Made $2.3 MILLION In New Recurring Monthly Revenue .

It is one of the things that completely transforms a business and its relationship with customers.

It can also change your own business, even if it opens up a potentially huge new source of income for you.

In this post, I want to share with you one of the most powerful tools I know for turning your average online store into a trusted brand with a much higher conversion rate, far fewer customer complaints and returns, and a significantly lower chargeback rate.

In fact, your chargebacks will be at least halved. Of course, all of this translates into significantly higher sales and profits for your business How We Made $2.3 MILLION In New Recurring Monthly Revenue .

In addition, we give you the opportunity to profit from our new product, not only by using it for your own business, but also by helping others to benefit from it How We Made $2.3 MILLION In New Recurring Monthly Revenue 2023.

To keep things more organized, I’ve divided this guide into seven parts as follows:

Introduction (you read it).
The rules of the game in high-risk credit card processing are different.
The power of solving an unmet need.
Cut chargebacks IN HALF.
How we get a 100% opt-in rate.
How We Made $2.3 MILLION in New Monthly Recurring Sales.
How you can benefit from our success.
So let’s go to part 2 and get started How We Made $2.3 MILLION In New Recurring Monthly Revenue .

Whether you’re a sales leader, manager or representative, metrics are key to your success. They help you evaluate the performance of your company, team and individual contributors.

the entrepreneur calculates the monthly recurring income
Let’s say you’re preparing for a meeting with the VP of Sales. At this meeting, you need to provide an update on the achievements of your sales team. If you’re looking at the plethora of dashboards and reports in your CRM database, all the charts, numbers and percentages can be overwhelming How We Made $2.3 MILLION In New Recurring Monthly Revenue 2023.

Which sales metrics reflect the greatest business impact? Are there certain ones you should prefer?

One metric you should analyze is monthly recurring revenue (MRR). This will tell you and your VP how much revenue is being generated each month. Not only can you look at revenue trends over time, but you can also compare MRR to your product or service’s monthly sign-up rate, monthly account growth rate, and customer retention.

MRR analysis tells you whether your revenue is decreasing or increasing over time, and it also informs sales leaders so they can make informed business decisions.

Download the sales metric and KPI calculator
What is MRR?
MRR stands for Monthly Recurring Revenue. It is a normalized measure of the predictable revenue a business expects to earn each month. For example, if you have 10 customers and they pay you $50 a month, your MRR will be $500.

Before we begin, let’s define some terms How We Made $2.3 MILLION In New Recurring Monthly Revenue 2023.

Revenue: The income your business receives in exchange for the sale of goods and services.
Recurring Income: This is income that you can expect to earn on a regular basis. Recurring revenue can be measured on a monthly or annual basis (eg MRR: monthly recurring revenue, ARR: annual recurring revenue).
So what does MRR look like in practice How We Made $2.3 MILLION In New Recurring Monthly Revenue 2023?

Imagine this: You work for a cloud computing company that sells a cloud-based photo storage platform. Customers sign an annual subscription agreement and pay a monthly fee to use the photo storage service How We Made $2.3 MILLION In New Recurring Monthly Revenue .

Let’s say a client has agreed to pay $1,200 per year, and based on their purchase, you can expect to earn $100 each month ($1,200/12 months). The monthly recurring revenue (MRR) for this customer is $100  How We Made $2.3 MILLION In New Recurring Monthly Revenue 2023 you calculate the MRR for each customer, you can calculate the overall MRR for your business.

The MRR formula
To find your MRR, multiply the average revenue per account by the total number of accounts in the month.

Average Revenue Per Account (ARPA) is a critical metric when calculating MRR. You arrive at this number by taking the average of what all your customers are paying and dividing it by the total number of customers for the month How We Made $2.3 MILLION In New Recurring Monthly Revenue .

To determine your MRR, multiply this number by your total number of customers. So if you have 100 customers paying an average of $50 per month, your MRR would be $5,000 How We Made $2.3 MILLION In New Recurring Monthly Revenue .

How to calculate MRR
Calculate the total revenue generated by all customers during the month
Determine the average monthly amount paid by all customers
Multiply the average by the total number of customers
There are other methods you can use to calculate MRR. The formula will vary depending on which one your business chooses.

For example, your business may use a customer-by-customer method. Use this formula to combine the monthly payments of all your customers. If you had 90 customers paying you $10 each month, the MRR would be $900.

The customer-by-customer method may be less efficient than the ARPA method, but both equations should still get you to the same number How We Made $2.3 MILLION In New Recurring Monthly Revenue .

But what does that number mean? And how can it be applied? There is no single answer to either of these questions. This is because MRR can be broken down, dissected and analyzed in different contexts for different purposes How We Made $2.3 MILLION In New Recurring Monthly Revenue .

Types of MRR
Breaking down MRR even further will help you look at revenue growth and trends to see if there are areas where you could improve.

1. New MRR
New MRR is monthly recurring revenue that is generated from brand new customers. Let’s say you have 10 new customers per month, half of them pay $50 per month and the other half pay $100 per month – the new MRR would be $750.

2. Expansion of MRR
This number represents additional monthly recurring revenue from your existing customers. An MRR extension is also known as an upgrade and can also be the result of an upsell or cross-sell. Using the above example, if four customers upgrade their contracts from $50 to $100 per month – the MRR of the extension would be $200 How We Made $2.3 MILLION In New Recurring Monthly Revenue .

3. Alternate the MRR
Churn MRR is the revenue that was lost due to customers canceling or downgrading. So if one customer cancels at $50 and three drop their monthly subscription from $100 to $50/month, the MRR at exit will be $200. And that means you’ll have less MRR to work with in the coming months.

4. Net new MRR
This amount is calculated using the three types of MRR mentioned above. Here is the clean new MRR formula:

The result of the calculation will tell you how much MRR you are gaining or losing. If the sum of the new MRR and the expansion MRR is less than the released MRR, then you have lost money. But if they’re greater than churn MRR, you’ve made money.

Why is MRR important?
While MRR may seem like a big metric that affects the business at a high level, it is just as important to individual sales reps as it is to management.

“MRR is the most important metric for financial growth. There are other important metrics like growth rate, retention, average sales price, and rep productivity, but at the end of the day, the most important metric is the number of recurring monthly revenue customers.” they’re willing to put in a credit card or pay with an invoice,” says Dan Tyre, HubSpot’s chief business officer. “We judge the performance of our companies, divisions, teams, down to individual executives based on the achievement of MRR. It is a basic metric for examining the performance of the team and sales representatives.”

1. Performance monitoring
How big are the deals you close? MRR allows sellers to see the size of the accounts they manage. If you earn a commission based on the monthly recurring revenue you close, your take home pay may be affected depending on the proportion of high and low MRR customers you sold to.

Are you struggling to hit your MRR quota every month? See the high MRR deals you’ve closed.

Are there any similarities between clients who have purchased from you?
Was there anything you did during the sales cycle that positively impacted sales?
Thinking about these details will help you tailor your sales approach to the opportunities in your pipeline. And hopefully your analysis will lead to high MRR deals.

2. Sales forecasts
Just as reps can look at their individual performance, business managers and leaders can look at the big picture and see how the team is doing as a whole. When they look at overall MRR, they can make more accurate sales forecasts and projections. And that helps the sales team plan

Monthly Recurring Revenue (MRR) is an excellent metric for subscription product operators. It’s an easy way to track your company’s recurring revenue, especially if you offer multiple subscription packages.

What it is not, however, is a measure of company value. The trend in the world of freelance hackers and bootstrapped founders is to use MRR as the main metric for valuing companies.

I see it everywhere: discussions about which multiple of MRR is appropriate to calculate the value of a startup. If you have a regular income of $100 per month, you are expected to list your SaaS for $10,000 now. Many founders who share their progress publicly (a commendable practice) often post MRR (and only MRR) updates on social media How We Made $2.3 MILLION In New Recurring Monthly Revenue .

The problem with this trend is: it’s a small part of the picture at best, and outright fraud at worst. I find this very frustrating as someone who wants to invest in small startups. Founders tend to brag about MRR while being intentionally opaque about other key metrics.

Through my research on Twitter, I’ve interacted with at least 20 founders and follow over 100 who are publicly creating new products. Here are my findings How We Made $2.3 MILLION In New Recurring Monthly Revenue .

Growth is meaningless without context
Consider a country that shows a 20% year-on-year increase in GDP. This seems fantastic until you start wondering where the growth is coming from.

For example, has the country taken on a trillion dollar debt?

During the Industrial Revolution, GDP growth in the most advanced countries was around 1% per year – and it was a sustainable 1%, supported by solid, resilient economies. It was a time when the world actually got better year after year, and not only that – you could count on the following year not to dissolve into chaos (until the black swan event known as Napoleon Bonaparte happened).

But enough history. What does this have to do with MRR? Well, everything.

The exact same concept applies. Many start-ups no longer focus on sustainable growth. They aim to have a shiny number at the top to make them attractive acquisition targets. And as we’ll see, it’s not that hard to achieve sales growth if you have a half-decent product. But revenue growth alone doesn’t make your company valuable How We Made $2.3 MILLION In New Recurring Monthly Revenue .

Income without expenses is meaningless
I had an MRR of $100 in August, $150 in September and $225 in October. I’m growing 50% per month and nothing is stopping me! #public building

This is what the Twitter profiles of many founders look like. The problem is that not only can they be stopped, but they almost inevitably will. Now, if you want to know more about their business (they build in the public, so they should be happy to answer you), the first question to ask is the cost per new customer.

How much will they spend per $1 of additional MRR? Is it $0, $50, or $1,000? These are completely different prospects, from “potential viral unicorn” to “money pit that swallows its founders”. But your question is likely to go unanswered – or, worse, answered with “our growth justifies our spending” demagoguery.

Are you building publicly or not How We Made $2.3 MILLION In New Recurring Monthly Revenue ?

Customer acquisition is a predictor of sustainability
Even if the answer to the above question is $0, hold your horses.

Organic growth sounds amazing, but let’s scratch the surface. Does the founder have 100k social media followers? If so, that’s the most likely explanation for all that “organic growth.”

If they rely on their personal audience to grow their company, this creates two problems:

When they run out of followers, growth will likely stop. Or maybe it won’t, but we have no way of knowing. They may be able to leverage other media, but that is largely unrelated to their current MRR growth How We Made $2.3 MILLION In New Recurring Monthly Revenue .
Growth is not transferable to the buyer. If I buy your startup that’s growing fast because you’re leveraging your personal brand/contacts, how do I keep growing? Since you are certainly factoring this growth into your exit price, the buyer should be able to continue at the same rate of growth using the same methods as you.
This is why I worry about the growth numbers published by influencer founders. The numbers can be 100% correct and still have virtually no value to me as a potential buyer.

Churn is an overlooked key metric
Let’s say your company charges $10 per month per customer and you just jumped from $100 MRR to $200. Sounds good. Quick question: did you make that leap by getting 11 new customers and losing one, or did you get 20 customers and lose 10?

They are completely different scenarios and one is much more sustainable than the other. Once again, MRR itself tells us nothing about this crucial measure of value. The two are not related at all.

And founders naturally hate talking about churn. Let’s not be negative, shall we How We Made $2.3 MILLION In New Recurring Monthly Revenue 2023?

And let’s not forget the founder’s input
Companies can grow on sheer force of will and hustle, especially early on How We Made $2.3 MILLION In New Recurring Monthly Revenue .

A founder who is willing to spend every evening cold calling potential customers is very likely to see their business grow How We Made $2.3 MILLION In New Recurring Monthly Revenue 2023.

But is traffic built into the price? And does a potential buyer of their startup have to sacrifice all their evenings to keep the growth going? Again, transferability issues arise.

If I’m buying SaaS, I’d really like to know if it’s a full-time job to make it work.

We can do better
So if you’re looking to get a software-as-a-service startup (or if you’re simply choosing which indie hackers to follow on Twitter), you need to look for real transparency.

I’m not suggesting that founders tweet out detailed financial statements like public companies. However, I suggest that all public builders share the following as a minimum How We Made $2.3 MILLION In New Recurring Monthly Revenue 2023:

MRR (with high level structure)
Expenses (with high-level structure)
Practical involvement of founders (hours per week)
Customer flow (acquisition and churn)
If you want to achieve transparency while maintaining an easy-to-digest format, here’s your formula. If you’re building your brand on the premise of building public, then your users deserve to have a more complete picture of your business than MRR providesHow We Made $2.3 MILLION In New Recurring Monthly Revenue How We Made $2.3 MILLION In New Recurring Monthly Revenue 2023 .

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