3min chapter

Tropical MBA: Entrepreneurship & Founder Lifestyle cover image

TMBA 696: The Current Landscape for Bootstrapped Businesses with Rob Walling

Tropical MBA: Entrepreneurship & Founder Lifestyle

CHAPTER

How to Build a Multi-Million Dollar Startup Without Venture Capital

Drip is a word of mouth product and we talked about drip many times on the show Only 15 to 20 percent of your customers you could attribute to word of mouth. Demo to paid or trial to paid if I'm going to put it into numbers Those are extremely high because people try it or see it and they're like oh my This is I've had this problem. So that's part of product market fit too, which again has no no bearing on how many leads you're receiving It's that you're just closing a lot of them. With a credit card upfront we close 60 percent of those to customer like that is a very high number right so that is a sign of product market

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