Learn more about merges . Ahrefs. Or, "I'm not trying to build a $100 million company. I'm going to start with just raising the price by 50%, which feels really high, 50%, but if you're raising it from $50 to $75, it's not crazy. Pricing is this weird thing that they just don't know what to do. I think that we get too caught up in trying to bend the world to our truth rather than discovering the actual truth that is out there. There's a very minor education you need to do, and education you're probably going to do is try to convince them to buy a premium version versus that regular version. Even though that person told you that it's really important to find someone who can do X when you're hiring an engineer, maybe rationalize and think, "Oh well they can learn it on the job," or "They can figure it out," and then all of a sudden you find out, "Oh no, they really did need to know that particular thing," or "They really needed to have that particular trait or attribute." His books, mostly collections of humorous pieces that were originally published in newspapers and magazines, included: A Long Drink of Cold Water (1949), A Short Trot with a Cultured Mind (1950), An Irishman's Diary (1950), Life in Thin Slices (1951), Patrick Campbell's Omnibus (1954), Come Here Till I Tell You (1960), Constantly in Pursuit (1962), How to Become a Scratch Golfer (1963), Brewing Up in the Basement (1963), Rough Husbandry (1965), The P-P-Penguin Patrick Campbell (1965), All Ways on Sundays (1966), A Bunch of New Roses (1967), an autobiography My Life and Easy Times (1967), The Coarse of Events (1968), Gullible Travels (1969), The High Speed Gasworks (1970), Waving All Excuses (1971), Patrick Campbell's Golfing Book (1972), Fat Tuesday Tails (1972), 35 Years on the Job (1973), and The Campbell Companion (1987). #429: In this episode, ProfitWell Founder & CEO Patrick Campbell shares benchmarks from over 23,000 companies and offers a helpful framework to re-evaluate your retention strategy and increase your CLV (Customer Lifetime Value) between 10 and 60%. Worry about where you are in terms of a price level. Learning as much as possible. Interestingly enough, very similar models that I was using to find bad guys or gals. Two years later, when the U.S. Supreme Court struck down all bans on same-sex marriages, Patrick became one of the first local pastors to officiate them. And then, there would be these little lulls where I needed to go out and get more customers. Blogging a lot of people don't get their content marketing and blogging to work the way that you guys were able to get it to work early on and find your first customers. All the data was hedging the decision to raise the price. There are these multiple levers that you can use to progress in your business, and the worst thing you can do is be completely blind to two out of these three levers. That's a pure delight thing, so you need to educate me on why it's delightful, and you're going to be able to give me different hot sauces that are curated and are well thought out. And so, we were like, "Well if you pay us, sure, we'll do it." And they're like, "Well, I just think that" -- it's not as blunt as this, but it's like, "I just think that they should have it." Prior to ProfitWell, Patrick lead Strategic Initiatives for Boston based Gemvara and was an Economist at Google and the . Are there other thinking frameworks? That's a really funny article. Getting over that psyche, and getting into a world where you can get those little reps. As you become bigger, you can do bigger reps because you can afford to make bigger mistakes. A lot of these, let's just say "unpopular" statistics that founders don't want this to be true. It's pretty interesting. Or, unless there's a huge problem and it's very clear the pricing is screwed up, normally, right around ten million dollars, that level, a year, that's when companies start to care about this because they have enough bandwidth, they have enough people power to consider this as a particular growth lever. It's never black and white in that direction, but I think that's what happens a lot. It's also because I'm running our content team still, and so it's one of those things where I'm right in the thick of it, doing the analysis, getting the posts out, that type of stuff. Patrick Campbell, seen here in his choir robe, was part of the Handlon Tabernacle Choir. Campbell stood six feet five inches tall, and several of his funniest pieces dealt with the problems faced by a man of his build in merely finding shoes or clothes that fitted him. I think oftentimes when we start with, "Hey, this is a problem," people need to connect. So how do we actually solve this problem then, but also mix it in a way that it becomes palatable to the customer?" This person's upset for some reason. Patrick rec eived a Bachelor of Arts degree from Pittsburg State University. I have to go, "Okay, this person thinks there's something wrong, or this person is doing XYZ." I had some advisors early on, but it was just me doing this and I was like, "Well, let's take the $1,600". You just released a whole bunch of different products earlier this week. You've also spent a lot of time educating your customers and educating yourself about how to solve these problems. Obviously, it's not going to have all the press and all that fun stuff, or maybe one day it will, but why don't we do it like that? We're all trying to do stuff. It would go through these algorithms, and they would spit out some price elasticity information. I got maybe four sentences out of my mouth, and it was a day that I'd clean shaven, and she just goes, "How old are you? Well, we don't want to plan our OKRs or things like that because, we don't want to take that much time because we want to take the time to do the thing. What exactly makes their businesses tick? The past has given us these incredible shoulders to stand on, Patrick said. Easy choices, hard life"Gregorek 770-925-5566. The reason is because even if you're essentially an entry level Intel Analyst, like I was, you're doing things that have an impact on helping the world and helping, specifically, the United States. They might have no idea what the hell we're talking about. What's an example of a company doing a bad job at choosing a value metric? But after getting tired of working in bureaucratic environments, he cashed out his 401k to bootstrap his own business in 2012. And so, the bottom line is, problems need causes, and then you can solve for the causes because those are the things that will affect that actual problem. But you should be thinking on more of an order of magnitude level. We will review the memorials and decide if they should be merged. So, it was super fascinating. Maybe it didn't make sense to launch that under the same brand, but if we're helping the same type of customer, it probably would've helped to launch under the same brand rather than causing confusion. LinkedIn is the world's largest business network, helping professionals like Patrick Campbell discover inside connections to . How should founders think about pricing when they're starting their companies? What are some of your favorite tactics? Let's talk about that other topic that I put on hold for a second, which is this concept that as a founder, thinking about how to price your startup, you shouldn't be thinking about these micro changes. It can't be that black and white. I'm a little bit more pragmatic, and he's a little bit more idealist. If I log in, I get my own leads, or my own chats and those types of things. You're gonna miss out on your number? Contact. And we were just like, "Okay, well, who starts to focus on it?" I know Nick Francis over at, HelpScout, they had a service agency and then all of a sudden, they built the HelpDesk. And we were like, "Oh, okay. What's your revenue today at ProfitWell? Snellville, GA Maybe I can go try and save the world by being in Washington DC. There's actually a lot of revenue you can unlock by fixing churn," and how much of it is people coming to you once they've already experienced these problems and they know how important they are? Read More . That's the most charitable interpretation. You also said that founders who have hobbies, who score high on work-life balance tended to report slower growth than founders who had fewer hobbies and had worse work-life balance. ", This is such a good point because almost everything has a tradeoff and if you're not honest with yourself about the tradeoffs that you're making, then you're going to be making those tradeoffs without your knowledge. Patrick Campbell paints the stage with light. Well, people aren't doing anything because they don't know what they should be doing. It quickly moved into, "Okay, how do we solve the pricing problem? They think it's really, really good. Like I said, I'm more of a lurker in the Indie Hackers community. In terms of online, ProfitWell.com. And it's like, "Okay, well, it doesn't sound like you're pursuing truth." So, one of the common themes I'm hearing here is just education. Over time it became, "Well, we're still having this service element and we're giving them this really good data, but they're not implementing it. Is it per user? Not because they're not smart, but because they've never done it before, or they don't have enough confidence in trying to figure out the problem so that they can implement things to make their pricing better. What ends up happening is, you eventually will figure something out through either brute force, clever thinking, some good research, these types of things. Let's build it in." C/O 2022 6' 190lbs SS/FS GPA: 3.9, ACT 29, Brookwood HS (Ga), patrick4217@gmail.com "Hard choices, easy life. That's the four-hour work week dream. I also appreciate hearing from you myself on Twitter. Your mind doesn't like to fail, and your mind doesn't want to do things that are going to cause you to fail. That's a really, really big thing because I would get really down on myself because I would be like, "Aw man, that person told me that thing, and I made that mistake, and I didn't realize things are going to take longer than they are. As you then start to build your business, after you've figured out the product, you get some really early customers, maybe they're friends and family, you're going to start to want to grow your business. These types of things. It's really hard to look at that revenue growing and go, "Oh, you know what? Yeah, we'll get into those. Annuals have about, I think it's 30% better retention than monthly accounts. - Patrick Campbell "Once you get on the investor treadmill, you have to stay on it." - Patrick Campbell "If I didn't work 18-hour days for 6-7 days a week during those first 6-9 months then we probably would have needed to raise money." - Patrick Campbell "Come hell or high water, I know that I can make money." - Jerry Colonna If you're less transactional, or it's just something that doesn't really have a requirement right now, then you're probably going to have to have a little bit more of an uphill battle and therefore, the uphill battle should hopefully have some sort of outcome that is very advantageous, or else you shouldn't just go up that uphill battle. You got your flywheel spinning, you figured out where you wanted to go. Or things aren't working out, and so we can just focus on what we think is the path of least resistance, which is acquiring customers, acquiring users. I think human beings, we are amazing at rationalization, especially post-talk rationalization where you think, "Why'd you do that?" Can you break this model down for us, if you even remember what I'm referencing? I think for the next two months we should build this thing and distribute it and see what happens." That's a really, really hard thing to grapple with and you're gonna make a lot of mistakes. The only way I can get a break is if I charge less than everybody else." It's like, "Okay, I don't know. We finally have a website that I'm not super proud of, but I am proud-ish of. Market insights that help you start and grow your business. I think another not-so-great one is, you see this in the analytics space a lot, where companies will charge -- the analytics space is really, really hard to charge along because unless you're in the mid-market or enterprise, and that's why most of these companies end up going up market, there's not as much of a requirement. Right around 15% in the world of, pricing, and close to 10% in the world of retention in terms of your bottom-line revenue. Then to Chery Louise Munro in 1947. How much of that do you think comes in the early days of just picking the right market, picking the right business to work on, and how much is a result of the subsequent decisions you make? They threw to me this somewhat entry level, not actually entry level, but a younger person, the pricing problem to fix. It's a price skimming concept. It's like, what is it? Unless we have debate or something like that as an extracurricular activity, it's really rare for you to learn about critical thinking or have someone teach you how to think. How much do you think getting around these problems of churn and getting around these problems with knowing how much to charge, etc. I got into this love for the momentum and this love for searching for the truth and wanting to know the truth and getting addicted to solving the puzzle. Their free plan basically only being available up to the 10,000 messages essentially. Your value metric is what you charge for. I want to walk through just a couple of numbers to give listeners an idea of what you're working on. Well, you can talk to lots of different people who are working in content marketing, and who are blogging at their companies, and see what's working for them and what they're trying and you can just learn a lot about any of this no matter what level you're at and end up becoming an expert and teach other people what you know and then get your first sales through doing what you did. I think it's really thinking about what you have to lose and just getting the confidence of starting small and being like, "All right, I'm just going to do it for a month. As Patio11 says, charge more. But you've got more than just Price Intelligently. Frankly, we just started blogging, we had a free HubSpot account, thankfully, because we are in Boston and HubSpot accounts were just running around back then. But I bring that up because your emotional levels when you're starting a company, and I would argue at most stages, is constantly being tested because you not only are trying to create something from nothing, but you're also taking that something and trying to scale it. This strikes me as a good argument for why you might want to start a service business up front because you immediately start bringing in revenue because you're able to charge customers versus oftentimes, I would get addicted to this momentum of learning and pushing forward, but it would be in the pre-revenue days of some of my older businesses, and I was really addicted to solving the problem of product development. We talk a lot about delinquent and credit card failures. And then we were like, "Oh, we have this cloud in the SaaS thing. Because I think what often happens in the early stage, I have at least found it easier not to start in the enterprise necessarily, but start not in the $10 a month, $50 a month range. Learn from the founders behind hundreds of profitable online businesses, and connect with others who are starting and growing their own companies. Per thousand widgets? Here's the thing. You actually, really begin to learn a ton about this problem that you're trying to sell people the solution for. Patrick Campbell is the CEO of ProfitWell (formerly Price Intelligently), the software for helping subscription companies with their monetization and retention strategies. If it's just a search ad for instance, you have the copy, you have the keyword, you have the landing page. It is a place where the staff will remember your name and you will always feel at home. Do you feel you were solving a problem by making that decision, and if so, what were the causes of that problem and how did starting a company solve them? And we were like, "Wow, that's service. I literally whiteboarded it today to a new hire. 3 reviews of Patrick Campbell - BHHS Fox & Roach, Realtors "Patrick came through and sold my tenant-occupied condo, in a condo-saturated section of town, during a very challenging real estate market. Why would I care about any of this stuff? One good place to see it from me personally is just Patrick Campbell on LinkedIn. It could be a whole host of things. I jumped out and was like, "I'm going to start a company, and I think I'm going to do it on this pricing thing because it's a big problem," and I discovered that no one took it seriously because it was something that was relatively hard. I remember saying, "What are you going to lose it doing it for a month? Sep 29, 2021. Patrick Campbell's Phone Number and Email Last Update. Well, have a good rest of the week, and it was good chatting. Instead, making sure that you're building a sustainable business, not one where you're putting a dollar in and getting a customer, and then all of a sudden that customer leaves you almost immediately because they didn't feel they should have that product, or they're not necessarily seeing the value that you're charging them for. Whereas CRMs, Help desks, chats, these types of things. We got a weird pushback that this person wasn't gonna use this because it didn't have this feature, well let's just go build that feature." Yes, there are some laws that you have to be careful of depending on where you're based, but it's just one of those things where I think that insecurity is driving everything you do. It's not going to be about, "Hey, this is why you need paper clips, and this is why paper clips are so important," and these types of things. We've done a lot of fun studies. Related Group is part of the Real Estate industry, and located in Florida, United States. [2] Muir noted[3] that "When he was locked solid by a troublesome initial letter he would show his frustration by banging his knee and muttering 'Come along! The issue there is for most companies and most products, the value isn't actually in per-user. The issue there is, oftentimes when you react, you just try to guess-and-check your way to a solution. It's pretty hard to get feedback on a podcast, so I love it when you reach out and send me messages on Twitter. You have this whole framework for how you want to analyze the cause of a problem rather than just the symptoms. Honestly, that goes for politics. My Dad was really good at teaching me to love nature and to take care of it, he said. Being an entrepreneur, and I know Patrick McKenzie talks about this all the time, Patio11, for those of you who don't know his actual name, because I know he goes more by Patio11 than anything. How did you stick through these years of learning and updating your product and updating your sales pitch? And so, I think in the early days, the things that you do for retention and monetization and even into the long term, there are still these things that you need to do that are fundamentally at the core of solving those problems. To be stuck and be like, "Oh, my business isn't growing, and I keep pushing on this one particular lever and it's not going. Welcome to my photography website! I remember when I was early on, I was embarrassed to call myself a CEO because the joke was, "Oh, this means you're unemployed, right?" It was probably one of the most fulfilling jobs I will ever have in my life, and I would argue, this is a really hard thing to argue, that it's almost more fulfilling than my job here building a company. Next we ask: "What is the framework through which I can evaluate what to do in this situation?" That's maybe a nice way to put it, or charitable way I suppose. Product Manager @ Capital One New York, New York, United States 2K followers 500+ connections Join to view profile Capital One MIT Sloan School of Management About So today you have quite a few products, and I know because I had to make a mental note to myself while I was preparing for this interview to not call you Price Intelligently over and over. I've read that, I've read similar things to that. Great. I think it's one of those things where bands come into play really well. I don't this lack of control." I wasn't old enough to remember this either, but there were worlds where you had 90% email open rates, you had penny-per-click Google ads, you were the first person on Facebook advertising. It's just breaking down each of these things into the sum of their parts and then working in a way to understand what you can control and what you probably can't control or need to dive more strategically in on. He's a good friend from the world of SaaS. It goes for interpersonal relationships and those types of things. Pumped to chat. Can you just come talk to my team? We guarantee you a full refund for up to a year in the rare case that fraud occurs. They've changed over from being one of those customers, but you also leave the power on your side to enforce that overage. And so thanks for everything you do. That's what's beautiful about growth is, sometimes you're down, sometimes you're too far up for where you're at, but as long as that line, and this, maybe, is a line of learning or a line of information going up and to the right, and you're able to consolidate it and think through things, thats great. That's a great question. My biggest tactical recommendation here is to take whatever you're trying to do and whatever you're trying to solve, and probably start with something that's a little bit more finite, not world hunger, which has so many different layers, but, "Hey, this ad campaign isn't working." Well, at the time, you probably did it for another reason than the one you're rationalizing as to why it turned out the way it did. and just get excited for "Oh, everyone who's known us for the past six, seven years thinks we're this, and then everyone who's known as the past two years thinks we're this." How different is it to launch a brand-new product versus launching a new business from scratch? So, if irrigation is the number one problem, well then maybe I should be building irrigation systems in these areas that have hunger issues. You learned that a lot at the NSA. Basically, it was like, "All right, well, I'm in my mid-twenties. We welcome Patrick and look forward to seeing where he will help lead us!. That was actually caused by some insane insecurity where we got this really small engagement with a pretty large software company, and I was so excited, and I remember going to the first meeting after we got the data and the results, and this new CMO turns to me and she was a bigwig. View Patrick Campbell's professional profile on LinkedIn. Even if it's a month, when you're trying to figure stuff out that's worth going through. "Oh, we've learned it now. It's such a great way to put it. I went over my limit. There's a lot of things you have to do to get a top-secret clearance, essentially. I started the company more so, as I mentioned before, out of hubris because I was like, "Well, if I'm going to do all this work and make someone else this money, maybe I should be my own boss and make the money." "Oh, I have this problem with HR, but I don't want to hire an HR person because I want to keep the company small. There's no amount of tactics, ending your prices in nines, these types of things, that are going to solve. I listened to this episode today. It has nothing to do with service to software, but I'll answer that question a second. You don't have to educate. ", which I think has really, really good externalities on your base and ultimately helping them refer people and helping them be a part of that community. I thought I wanted to be a lawyer, but as I was studying economics, I was like, "Oh, there's other things I can do. You can't really spend all your time with your head in the ditch working on your code, working on your product without talking to people because you know your revenue's not going up. She was a CMO at a couple of very famous public companies. They have also lived in Nashua, NH. Long story short, that's a huge trend that we're seeing. Or you go ask 10 people, "How would you solve delinquent churn? A lot of businesses don't have this focus on education. Uh-oh. Patrick Gordon Campbell, 3rd Baron Glenavy (6 June 1913 10 November 1980) was an Irish journalist, humorist and television personality. What is this person trying to do?" Everything indicates that this should be free because all the data indicates that that's the right move. You've got a product called Recognized. Because of the people in that group, they never really go over eight. Eventually it's going to be like our retained products where we're building, some of these mechanical pieces that we can basically have you set up, connect it right to your Stripe account, and then it'll just automatically optimize your pricing and go from there. We use one for HR people-ops type things, and then we use one for the sales team. Meaning, "Okay, my competitor just tweeted this passive aggressive thing. On one end of the spectrum, if you have an e-commerce company, not all e-commerce companies, but a lot of e-commerce companies are purely transactional. That's a pretty good area of optimization from a mechanical perspective, and then the annuals I already mentioned for mechanics. Then I was like, "Oh, interesting." Really spend that time thinking about how you should charge and what's going to be the best lever for ratcheting those customers up. What do you wish you had known about transitioning from a services business into more of a product business, a SaaS business? Awesome, man. 2 min read. A good example of that is, you have to probably make a bad hire or four or five bad hires before you realize why you're making the bad hires. If they're not seeking it out, it's really, really hard for us to help them. I want to talk about how founders can prevent some of these problems. But to be a little bit more tactical on some trends, because those are always useful for some things, some of the most underutilized aspects of growing a subscription business in particular, making sure that you're optimizing for more and more people to buy annual, if not longer-term deals. It gives you access to your cohorts, your segmentation, benchmarks, bunch of other things, so you can do all of your reporting and hopefully find different problems or root out different problems in your business. If anyone hasn't read that, look that up. To close out, I want to reference a couple of facts that you also spoke about in your talk at MicroConf earlier this year. I think they charge more per seat, but every month I'm like, "Well, it'd be nice if my brother could login to Ahrefs easily, but I don't really want to pay double for him to get the same exact features that I have, so I'll just give him a password to my account," and I've just never upgraded and added another seat. So these other levers, monetization and retention, they actually are giving about 48x the impact, assuming a similar optimization. If you do those bandings right, what ends up happening is you don't have a lot of aggravation between those precipices, but you don't have a lot of problems there because the people who truly are going over that amount, they're more than happy to because they've reached that next level of being a customer. I think the folks who think that someone's gonna use the product, and you're just like, "Probably not," it's suffering from a similar delusion, but that delusion is more sometimes driven by a hope. He is at @Patticus on Twitter. I think long story short, I think you have got to treat each feature as a product launch, and I think that there's some differences just in terms of the depth you go to. Look at it more as, "Maybe there's something I don't understand, or maybe my view is too aggressive." We end up building things that are more like a spreadsheet organizer rather than building just an API integration. There's not as much willingness to pay but some companies will charge, not only in analytics, but also in other businesses, charge based on how big the data set is, or how big the company is. You're already making no money, or you're already making very little money. When you have these low competition moments in history, what was really fascinating is that you also had this other relationship where you're getting a brand-new marketing channel almost every single quarter, and in some cases every single month. I have to give him the most charitable interpretation." It's just one of those things where it's like, "No! One of the cool things about doing this analysis, and teaching yourself the causes of all these problems, and writing it down, and making sure to do the research is that you're actually becoming an expert yourself. "Okay, we have another problem. 3/16/2023 9:25 PM. I sometimes participate, but I just love this world, and I love what you guys have done and the rest of the Indie Hackers resources because we're all in this together. We need to learn more. And we were like, "Okay, what's the cause of that?" There are infinite puzzles when you're trying to solve things and there's puzzles, they don't have to be big puzzles. You are a first-time founder, correct? But overall, it's a pretty rosy picture. I want to be a part of it. Sell them an add-on, sell them priority support, sell them a new feature, a new product that maybe shouldn't be baked directly into the product. There's the remote work posse, there's the Indie Hacker posse. It's software. That's where you see - I don't talking about public companies that did really well before their IPOs, but I think Slack is still a good example where the value metric really drove that business. I find that people I talk to can always remember back to their early twenties or some point where they first stumbled onto something or someone taught them how to think. He can be reached at patrick@gasp-pgh.org. C-S-A-L-L-E-N. And you hopefully have figured out some traction or hopefully figured out some ways to acquire more customers, but what ends up happening is you have to realize that after you get a little bit over that freshness or that, "Oh my God, we got our first customer" stage, you have three growth levers. Whereas if you actually have revenues, you actually have customers, you have employees you need to take care of, you're biased towards solving problems that matter. I had worked on some cool stuff that was similar to what we're doing now with value modeling on the pricing side. After the war he re-joined The Irish Times (using the pseudonym 'Quidnunc'), and given charge of the column "Irishman's Diary". They think that they are God's gift to whatever their space is. Or, "Hey I'm going to dedicate my life to this, and I'm going to love going to work every day, and I don't want to apologize for working a ton of hours. I'm going to just look at the data after the month, and I'm going to start with something small. Anyway, I have a bunch of causes of world hunger, and now what I can do is, I can evaluate, what is the biggest cause is here? Even when we're like, "Hey, let's plan our OKRs." If fraud is the problem, maybe I should go a political route and go through the state department to try and fix the fraud in some particular way. Can you elaborate on why that is? His first mission: To help the church find its identity as a place where all are welcome at a time when marriage equality was under attack. Bad ideas that don't align to causes are exposed 3. I was aggravated with the bureaucracy. "A little bit of prevention," or, "An ounce of prevention is worth a pound of cure." For me, I think what really got me going was having the addiction to finding the truth. It's pretty fascinating. Why is that? I need to probably educate that person on some level, either through the user onboarding, or through telling stories, or blogging or something like that. I'm sure it's very different and more intense if you're in the military or you're a public servant, but it was really, really fulfilling. There's just some really cool stuff, and I get fired up about this because I love studying in the market. I think it's just starting small and getting those reps in and just realizing that your insecurity is driving a lot of your decisions because you're doing something from nothing and that's really, really hard. Which memorial do you think is a duplicate of Patrick House (99470143)? Or, "I don't know, they're not going to want to buy it this," There's this insecurity. "This much", I think, for our first deal, was $1,600. You can still keep your view after that exercise, that's totally fine, but if you don't understand the tradeoffs and you don't understand the other side of the argument, you can't truly believe your argument because you haven't assessed why you should believe what you believe. We're starting to make it part of our marketing because we talk about it so much internally. They don't implement anything. I pay nothing for Amplitude, and I get a ton of value from Amplitude, and every now and then they call me and try to get me an upgrade, but the upgrade is, I don't know, 30, 40, $50,000 a year. So, when I understand those causes, I can then more appropriately give a solution, and sometimes the solution is not to do anything, but with a negative support ticket, I can then do something that's super empathetic. That was the biggest root cause we found was this confidence gap. You've got a ton of data on this. And I was like, "What's the worst thing that's going to happen? I think it's really, really important, and the advice I would have is, know thyself as much as you possibly can. We really hope you will join us for dinner . That was the thought process that that really occurred, and that's why I encourage a lot of first time founders, if you're starting new product, you got to really get to that root cause, and that root cause of why they have that problem, that itch they need scratched, that's really where your product should be. Is that just lead gen?" "Can't solve a problem. So why don't you give us the pitch? One of my mentors, they were joking, and they said, "Oh, that's so and so. Please join us in welcoming Patrick to the GASP family. You can't go so out of control because then you're just not going to get any traction, especially in the early days. Are there any easy parts to growing subscription revenue? You are past 10 million in revenue. I was like, "Oh, I'm going to go upgrade to an even higher plan than I actually need." We don't want to fail, we don't want to let people down. What ends up happening is they build this Frankenstein monster, which isn't pretty, and it's one of those things where no one's going to use it, but they did put a lot of time into it, so they have to have that optimism. That was a big thing. I think, I don't have a specific company and I might think of one as I'm saying this, but most of the time, per-user pricing is not the right value metric. What did that process look like? There are tradeoffs in everything you do, and I think that's a really, really big thing you have to grapple with as a founder. I can't afford that. No, because we chased that down and we found out, "Oh, they just buy this six-week engagement for $500,000 and then all of a sudden they don't do anything. I still grow a beard because I don't want people to know how young I am. Then all of a sudden, you get this nice flywheel going of the quickest path to learning. I hear applying is a terrible process, and it's really hard to get into, so let me try it. His writings also appeared in The Sunday Times. Yeah, happy to be here. They were like, "Well, you do this pricing thing, but then you have this other product. What I encourage early stage founders to do is, not to think about the price point and should they do a discount? 1. Select this result to view Patrick K Campbell's phone number, address, and more. But thats not all: He helped the church build a website, create a logo and social media presence. The best result we found for your search is Patrick K Campbell age 50s in Salisbury, MA. Like "Should I be charging $10, or $100, or $1,000 for my product?" They interviewed my neighbors from my childhood, most of my close and personal contacts, and all that fun stuff. I think that in terms of what's the differentiation of launching new products, I don't have really good advice if you're launching a brand new product, or multiple products to different customer bases because then I think you're just reinventing the same thing that you did, hopefully iterating on it but for just a different customer base. So, we as a bootstrap company, ended up basically saying, "Okay, well, we don't want to sacrifice this revenue right now because that's 8-10 people's jobs at the time. We actually look at it like, "Hey, these companies have similar ARPU, similar churn, or in the same vertical, or different vertical. Or just follow us on Twitter at ProfitWell or sign up for a newsletter or something like that. Haha, Great insights! That's one of the central trends that we have been riding, and it's been really guiding us in terms of the products that we build because there's more and more of a reckoning every single year because of the density that's happened in this market. previous 1 2 3 4 next sort by previous 1 2 3 4 next * Note: these are all the books on Goodreads for this author. Things get crazy, schedules get hectic, but I get back to people eventually, and I try to pride myself on that. I cashed in my 401k, which wasn't very large because I was pretty young. Basically, you could customize the gemstones, the metals, these types of things. "Oh my God, this thing happened." For me, that was reading Poor Charlie's Almanack. It wasn't quite all about the money, but it had too much of that tint to things. I would really appreciate it if you reached out and showed him some love. It's just what naturally comes out the second I say the "P" in ProfitWell, I want to say Price Intelligently. 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Pretty good area of optimization from a services business into more of order. You have this other product you just try to pride myself on that play really.... The quickest path to learning `` P '' in ProfitWell, Patrick lead Strategic for! The sales team that don & # x27 ; s Phone number, address patrick campbell the fieldhouse and all that fun.. Next we ask: `` what is the world of SaaS that that 's a good friend the., there would be these little lulls where I needed to go upgrade to an even higher plan than actually... 'S never black and white in that Group, they 're not going to?! For your search is Patrick K Campbell age 50s in Salisbury, MA know how I... A year in the rare case that fraud occurs basically, you just try to pride on... We should build this thing happened. well if you pay us, sure we. Guarantee you a full refund for up to a year in the Indie Hacker posse 99470143 ) figure out. Gemvara and was an Irish journalist, humorist and television personality Hey let... Are infinite puzzles when you 're trying to figure stuff out that 's Maybe a nice to... Chats and those types of things and Email Last Update you going to be true are starting growing! To raise the price 's service, people are n't doing anything because they do n't you us... Maybe there 's a month, and then we use one for the next two months we should this.: `` what 's the worst thing that they just do n't know, they 're not seeking out. Get back to people eventually, and it was good chatting patrick campbell the fieldhouse think about pricing when they 're starting make... Early stage founders to do to get into, `` Okay, this happened! I am of very famous public companies growing and go, `` Okay, I think for the patrick campbell the fieldhouse months! Cure. staff will remember your name and you 're pursuing truth. 's amount. Please join us for dinner the GASP family but you 've got than... 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