“I spent about a year and a half developing the product, and once it was launched, the total annual revenue of the app was $194.00.”
Good startup lessons here.
“Making your first $1 online is easy, making your second $1 from that same customer at the next billing cycle, that’s hard.”
“Just because there are a lot of products in a space, doesn’t always mean you can make a business around it.”
Rithm v1 really fell victim to the classic Vitamins vs. pain killers concept. Vitamins being “nice to have,” and pain killers a “need to have.”
“Distribution beats products every day of the week. This is why we see terrible products being used all the time, they get embedded into organizations, they have won on distribution.”
“While all businesses have a product, not all products are a business.”