So I’ve been starting to worry a lot. It’s kind of weird. I’ve been in the black revenue wise for a few months now and I’ve been full time on my product for a month.
Revenue has been upticking nicely over the past several months. But just recently I’ve started to worry “what if everyone starts to cancel?”. “what if my customer lifetime value turns out to be lower than I think it is?”. what if, what if, what if.
My churn rate so far is really good but I don’t have a statistically significant amount of data to base that off of. So I can’t really say for sure.
But the value prop is solid, new customers every month, customers generally seem very happy, rolling out new features regularly. Everything seems great. For reference here’s my revenue curve:
But I’ve really been worrying like crazy lately. A friend of mine used the term “irrational fear and doubt”. Is that a thing that you should expect to feel in the transition period to being full time self employed?
Having a wife and two daughters, I feel a lot of stress about being able to support them obviously.
So I guess what I wonder is - how do you know, as a bootstrapper, when you’ve reached escape velocity?
I’d imagine 99.9% of bootstrappers fail b/c they never really get traction for one reason or another. But once you’ve gotten traction, what are the chances that something else can knock you off course?
Do I have cause to still be uncertain at the stage that I’m at? Or is this purely irrational fear and doubt?