Since April my B2C language learning webapp Readlang has been making about $1500 / month revenue ($1300 / month profit). I can just about manage to live on this without eating into savings which is a huge milestone . Obviously I’m not stopping here though! Right now I’m spending almost all my time improving the product, fixing bugs, responding to user feedback, etc. and don’t want additional distractions, so…
Is there any way to re-invest a small amount (maybe $300 / month) to grow the business faster with minimal work on my part?
The problem is that most of ways of investing also require a big time commitment, otherwise I’m just throwing money away, e.g.:
- freelance designer - need to search for someone good who shares vision & then give thoughtful feedback on their designs
- adwords - need to iterate on copy, keywords, etc (and I’m skeptical this will pay off for my product)
- content marketing - need to find a good writer of useful articles which may be difficult on this budget, and there are lots of language learning blogs already out there, so would need to be very high quality to stand out, and may not pay off
- social media / community management - this is very tempting since it could free up some of my time and grow these social channels better than I can. On the other hand, it’s nice for users to interact directly with myself as the creator of the product, and it’s good for me to keep tabs on user feedback to inform product development. And again, I need to find someone I really trust to communicate with users
Eventually I will spend time on this stuff, but in the meantime, any ideas to invest money which doesn’t also require a large time investment?