Val Hinov is the founder of Thankbox an online group card tool that grew to $20k p/m throughout lockdown. Now Val is facing the challenges of what to do when your product scales, what to do when the wave that brought you success starts to slow and when your product has one-time purchase pricing model.
What we covered in this episode:
- Where the idea for Thankbox came from?
- Lessons learned from a failed startup
- How he built Thankbox in 2 months
- How he got his first users for Thankbox
- Building a virality model
- Using Google Ads to grow quickly
- Advice for people apprehensive of using ads
- Why social ads didn’t work
- The effect of a one-off purchase pricing model
- Having a big drop in users
- The seasonality of online cards
- Outsourcing vs solo
- When to go full-time
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